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Cabot Financial a loan agreement and the Law - Warning


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Hi

I have 3 debts ( at least ) which the above is trying to collect. One of them is Satute Barred and the others are the subject of CCA section 77/78 requests.

One of these cannot supply the original agreement or copy of. Cabot have written stating that they are aware the 12 days is up and the agreement is still not forthcoming but advise me that the debt is still legally due. I stated that it isn't until the agreement is supplied. They said legally due and unenforceability are different and that the debt is legally due although it is unenforceable and they haven't complied with the section 77/78 request.

Can someone clarify the legal jargon please.

I want to report them to the FOS if possible.

Thanks.

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  • 2 months later...

Yes the debt is still due and you can still be asked to pay. Not providing a CCA does not mean the debt isn't owed, just that it can't be enforced. This link from the OFT clarifies what creditors can and can't do.

 

http://www.oft.gov.uk/about-the-oft/legal-powers/legal/cca/unenforceable-credit-agreements

 

What's Best for You?

 

 

The Consumer Action Group is a free help site.

Should you be offered help that requires payment please report it to site team.

 

Alliance & Leicester Moneyclaim issued 20/1/07 £225.50 full settlement received 29 January 2007

Smile £1,075.50 + interest Email request for payment 24/5/06 received £1,000.50 14/7/06 + £20 30/7/06

Yorkshire Bank Moneyclaim issued 21/6/06 £4,489.39 full settlement received 26 January 2007

:p

 

Advice & opinions given by Caro are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

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I have got rid of Cabot by insisting I will not pay without enforcement action and threatening to report them for harrassment. I don't see the loan as being legally due unless they can enforce it in a court of law and they seem unwilling to try since they have no agreement to produce in court and the first thing I would do is serve the request for the agreement to be produced.

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Fair play to you, but don't forget that courts will accept reconstituted agreements.

 

I hope the quiet continues and you can put this lot behind you.:-)

 

You might be interested in this thread.

 

http://www.consumeractiongroup.co.uk/forum/showthread.php?291964-what-is-the-point-in-a-cca-request&p=3274343&viewfull=1#post3274343

 

What's Best for You?

 

 

The Consumer Action Group is a free help site.

Should you be offered help that requires payment please report it to site team.

 

Alliance & Leicester Moneyclaim issued 20/1/07 £225.50 full settlement received 29 January 2007

Smile £1,075.50 + interest Email request for payment 24/5/06 received £1,000.50 14/7/06 + £20 30/7/06

Yorkshire Bank Moneyclaim issued 21/6/06 £4,489.39 full settlement received 26 January 2007

:p

 

Advice & opinions given by Caro are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

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