Cabot

[mam62]

Good afternoon everyone

 

I received a letter today, from a company called FIRE - Financial Investigations and Recoveries (Europe) Limited.

 

It is a notice of instruction to collect on behalf of their client Cabot Financial Group for the full outstanding balance. The letter states that I must contact one of their recovery agents by phone now, or further recovery action will be taken.

 

Cabot have already refused to accept my monthly payment offer, albeit a nominal amount due to my circumstances.

 

What do I do now please?

 

Thank you in advance.

[dx100uk]

have you CCA'ed cabot?

 

dx

[bigandyuk1]

Fire are Cabot !!

[Pinky69]

Cabot and Fire are the same company. Don't call them under any cirumstances. Send Cabot a CCA request and see what bilge they come up with for an agreement, if any.

[mam62]

Hello and thanks for your replies.

 

Dx, I sen a CCA request last year and received an agreement back - outside of the given time frame as they said the original lender could not find it.

 

It was unclear in parts, so was advised to request a clearer copy, which I did. Never received it, only letters threatening doorstep collection.

 

I will not call them pinky69, these people really do scare me though.

[Pinky69]

If it is illegible, they must send you a legible copy and an illegible agreement would not be accepted in court. All agreements and copies of agreements must be "easily read." Even if it is only unclear in parts, that renders it illegible. Send FIRE a copy of the Account in Dispute letter - the illegibility puts Cabot in default of your CCA request.

[mam62]

Thank you Pinky69, I will get that done as soon as possible.

[mysticpols06]

http://www.consumeractiongroup.co.uk/forum/debt-collection-industry/166869-cabot-aarghhhh.html

Hi, How are you? Try not to let them scare you too much - if you get a chance have a read of my thread (above) & you will see that you are definitely not on your own! Is a few pages in but you'll see how at one point they sent me to robinson way and also to fire but haven't heard anything since, as you'll see. Hope it helps & keep us all posted. Take care, regards, Mpols x

[mam62]

Hi Mpols

 

Sorry for delay in responding.

 

Many thnx for your thread, I have just read through it all - wow.

 

I was struck by the fact that the FIRE correspondence you got was the same as I have received. I have now received the 'discount' settlement letter, which I ignored as it would not even make a dent in what I owe to be honest.

 

I also missed the post on Friday, so a card was left for a recorded delivery letter (certainly not expecting anything). Have you or any other caggers ever received a letter from a DCA in this way?

 

Really worried, so much so, I do not even want to arrange redelivery of it, just in case.

 

Update: I have sent off the account in dispute letter to FIRE as advised by Pinky69, so will update again as soon as I hear anything.

 

Many thnx again,

 

mam62.

[dx100uk]

well that seals it really

if they are sending short settlement offers then they are def stuffed

they only ever do that when they know the debt is un-en or they know it made of charges & PPI etc that can be reclaimed against. or its statue barred

 

time to totally ignore the muppets

 

dx

[mam62]

Thank you dx.

[mysticpols06]

Morning hun, i haven't ever received anything from one of then thats been recorded del so far (never say never), i'm pretty sure that NOA are SUPPOSED to be signed for but i dont think they ever have been and also i think stat demands are SUPPOSED to be either hand delivered or signed for, but thankfully i haven't received one of those ...yet! I'm sure Pinky or some one will correct me if wrong with the above. My heads been a shed lately (as in the last couple of years lately haha), it's these lot that have helped keep me sane!! Keep posting & take care, Mpols x

Edited June 1, 2010 by mysticpols06
ypto :-)

[mam62]

Hi Mpols

Pleased you'r being kept sane!!

 

I will definately keep posting.

 

All the best and have a lovely weekend,

 

Mam62.

[mam62]

Good morning all

 

I really should have posted a couple of weeks ago but have had to deal with a couple of other personal issues. Anyway, I received a letter from Cabot in response to my Account in Dispute letter which says the following (scanner not working sorry).

 

28th June 2010

 

Dear

 

Our response to your correspondence

 

I refer to your letter received on 8th June 2010 and our previous correspondence. I understand that you are dissatisfied with the letter you received from our External Agent, Financial Investigation and Recoveries (Europe)Ltd ("FIRE"). On reviewing our records it would appear that due to a system error FIRE had been instructed to pursue collection on this account. On behalf of Cabot please accept my sincere apologies for any inconvenience this may have caused and I can assure you this account has been returned to Cabot. In relation to outstanding dispute with Cabot, you believe this account has been in dispute with the original lender, (name of lender). However, they have informed us that this is not the case and Cabot has also provided you with the information you have requested. Furthermore, you have previously made repayments to Cabot towards this balance, which constitutes a clear acknowledgement of your responsibility to repay the debt. For your ease of reference the outstanding balance on the above account is £. I would recommend you contact our Collections department, within 14 days, on 0845 0700 116 to discuss the options available in order to settle this account. I must inform you that if we do not hear from you within this time frame, this account will be escalated within our collections procedures. I trust we have set our position clearly. If you have any further queries in relation to the above account, please do not hesitate to contact me on 0845 026 0463. The Customer Assurance department is open from 9am to 5pm Monday to Friday.

 

Yours sincerely

 

Customer Assurance Adviser

 

As you can see, I have gone over the 14 day deadline, please help. Do I contact them even though they refused my last repayment offer?

 

Thank you all in advance

 

mam62.

[dx100uk]

no you dont contact them ignore............

 

now.

 

can you give us the history of this debt please

 

dx

[mam62]

Hello dx

 

Here is my original post of last year detailing my debt situation. Reading it again makes me realise why I buried my head in the sand initially, my situation still seems so hopeless...

 

"I was gullible/stupid enough to take out three loans in my name in 2006, for a now invisible 'ex' partner who defaulted on the repayments after one month. I gave up work to study for a degree, with the dream of making a better life for us all financially. Instead I was left to pick up the pieces.

 

I am now in debt to the tune of around £98000 plus. AA Finance apprx. £19500, Northern Rock apprx £20000, Lombard Direct apprx. £28500 a lot of it I guess is interest as the loans were all under £15000 each initially.

 

I have acknowledged the debt in writing to Cabot, Equidebt and Wescot as I feel that I was foolish enough to take out the loans so it is now down to me to pay them off somehow.

 

I have been paying Cabot £10 per month since December 2008 and have just received a letter from Wescot 'telling' me how much they want per month (£20), first payment due the 15th of this month, even though I only offered them £5, as it's all I can realistically afford right now, they seem to have ignored that figure.

 

I apologise for such a long first post but sincerely hope someone may be able to advise me on my next fretful step. I have been sick with worry for so long and have been hiding my dark secret from everyone for years now and I know I should have taken my head out of the sand way back.

 

Anyway, I need to get things sorted so I can have a chance at a 'normal' life again. Finally, I did contact CCCS last year whose advice was to go for bankcruptcy as the debt will still be there as far ahead as 2090.

 

Please help me if you can, thank you for listening".

 

That's the history dx.

 

Mam62.

Edited July 15, 2010 by mam62
Should have broken up the paragraphs making it easier to read.

[dx100uk]

coh! please

 

hit the return key a few times and break it into sentences.........

use the edit key

dx

[Fred Bassett]

Hello dx

 

Here is my original post of last year detailing my debt situation. Reading it again makes me realise why I buried my head in the sand initially, my situation still seems so hopeless...

 

"I was gullible/stupid enough to take out three loans in my name in 2006, for a now invisible 'ex' partner who defaulted on the repayments after one month. When we were together, I gave up work to study for a degree, with the dream of making a better life for us all financially. Instead I was left to pick up the pieces of his greed; I am now in debt to the tune of around £98000 plus. AA Finance apprx. £19500, Northern Rock apprx £20000, Lombard Direct apprx. £28500 a lot of it I guess is interest as the loans were all under £15000 each initially. I have acknowledged the debt in writing to Cabot, Equidebt and Wescot as I feel that I was foolish enough to take out the loans so it is now down to me to pay them off somehow. I have been paying Cabot £10 per month since December 2008 and have just received a letter from Wescot 'telling' me how much they want per month (£20), first payment due the 15th of this month, even though I only offered them £5 as it's all I can realistically afford right now, they seem to have ignored that figure. I apologise for such a long first post but sincerely hope someone may be able to advise me on my next fretful step. I have been sick with worry for so long and have been hiding my dark secret from everyone for years now and I know I should have taken my head out of the sand way back. Anyway, I need to get things sorted so I can have a chance at a 'normal' life again. Finally, I did contact CCCS last year whose advice was to go for bankcruptcy as the debt will still be there as far ahead as 2090. Please help me if you can,

Thank you for listening".

 

That's the history dx.

 

Mam62.

 

Hiya Mam. If you don't own your own property, I would seriously consider bankruptcy.

 

Regards.

 

Fred

[dx100uk]

Hello dx

 

Here is my original post of last year detailing my debt situation. Reading it again makes me realise why I buried my head in the sand initially, my situation still seems so hopeless...

 

"I was gullible/stupid enough to take out three loans in my name in 2006, for a now invisible 'ex' partner who defaulted on the repayments after one month.

 

When we were together, I gave up work to study for a degree, with the dream of making a better life for us all financially.

 

Instead I was left to pick up the pieces of his greed;

 

I am now in debt to the tune of around £98000 plus.

AA Finance apprx. £19500,

Northern Rock apprx £20000,

Lombard Direct apprx. £28500

 

a lot of it I guess is interest as the loans were all under £15000 each initially.

 

I have acknowledged the debt in writing to Cabot, Equidebt and Wescot

 

as I feel that I was foolish enough to take out the loans so it is now down to me to pay them off somehow.

 

I have been paying Cabot £10 per month since December 2008

 

and have just received a letter from Wescot 'telling' me how much they want per month (£20),

 

first payment due the 15th of this month,

 

even though I only offered them £5 as it's all I can realistically afford right now, they seem to have ignored that figure.

 

I apologise for such a long first post but sincerely hope someone may be able to advise me on my next fretful step.

 

I have been sick with worry for so long and have been hiding my dark secret from everyone for years now and I know I should have taken my head out of the sand way back.

 

Anyway, I need to get things sorted so I can have a chance at a 'normal' life again.

 

Finally, I did contact CCCS last year whose advice was to go for bankcruptcy as the debt will still be there as far ahead as 2090.

 

Please help me if you can,

Thank you for listening".

 

That's the history dx.

 

Mam62.

 

urm.

 

rather steep but you are by far not alone in this level of debt.

 

not sure really a bit out of my area

 

you didn't take out PPI with any of these, or been hit with regular charges at all?

 

my thoughts anyhow

 

dx

[mam62]

Good evening Fred

 

I do not own my property and bancruptcy was something I had seriously considered but was advised against it.

[mam62]

Good evening dx

 

OMG, I have only just realised that you have already broken up the paragraphs on my post. I have just edited it and re posted, silly me.

 

dx, it is good to know I am not alone, if you know what I mean.

 

I believe I did take PPI's out with the loans and all three lenders refused to freeze interest so continued adding on the charges.

 

mam

[dx100uk]

then this is a way to put a very big dent in those balances.

 

have you got all the agreements?

 

dx

[Fred Bassett]

Good evening Fred

 

I do not own my property and bancruptcy was something I had seriously considered but was advised against it.

 

Hi mam,

 

If you were advised against it by the CCCS then this is not surprising - they are jointly funded by the Government and by the finance industry.

 

For an unbiased view, you might be better off consulting the CAB. Ultimately though, it is your choice. Let's be honest, your credit file is going to be shot for years whatever you do. Bankruptcy would wipe the slate clean and remove the hassle at a stroke. It's not a decision you should take lightly and there will be pitfalls, but I think you should consult the CAB and see what they have to say.

 

Regards.

 

Fred

[mam62]

Good morning dx

 

Will go through my paperwork this weekend.

 

@Fred, not sure why I have never contacted the CAB...anyway, I have one not to far from me so will see if I can possibly get an appointment next week.

 

Do any other caggers have any personal experience of bancruptcy they are willing/able to share with me, good or bad?

 

mam

[mam62]

Further development...

 

Before I go off and do my daily bits, just wanted to share this with you. This was sent to me via email (had to provide them with an email address when I first communicated with them).

LIMITED OFFER

 

Dear

Repaying your account – our offer to you

If you respond within the next 30 days from the date of this letter, we are able to offer you a discount of up to 30%* to settle your account.

This is a limited offer which is only available for 30 days from the date of this letter. If you’d like to take advantage of this offer, please contact us immediately.

Alternatively, we may be able to offer you an attractive repayment plan which will enable you to repay your outstanding balance within 5 years.

Contacting Cabot

The most important thing for you to do now is to get in touch with us immediately. Call 0845 073 8991 (Minicom: 01732 524630) and one of our helpful customer advisors will discuss how to repay your account.

Yours sincerely

 

Recoveries Manager

*Discount levels are dependent on each individual’s circumstances.

 

 

Is this a serious offer? Not that it would make the slightest bit of difference to what I owe. Just wanted to know if this is something they do as standard...

mam

 

mam