Cabot on my credit report????

[themadcap]

Hi all,

I have just bought my credit report at Equifax and found I have a default from Aug 2005 with CABOT FINANCIAL, it says Credit Card from Cabot Financial (Uk)ltd, it also says a balance of £1800+.

I have no idea what this could be and nothing relates to the account no. have put a dispute in with Equifax but dont hold much hope of any sense from them.

I would have thought that they would be asking me for it if I owed them £1800 but have never heard of them or the account.

Can anyone help

thanks

[silverfox1961]

Hi

Did you have any debts in 04/05?

 

Cabot have bought a debt and stuck there name on your credit file. They are not the original creditors.

 

If you are sure that it isn't your debt, demand the removal of the entry and suitable compensation from cabot

[themadcap]

The only possibility would be a Citi card I had which was bought by capquest and when I cca'd them in 2008 they could not provide agreement and I have a letter from them saying the debt is being returned to citi, this letter is from 2008 and have not heard a thing since then, Im thinking of leaving it as it will be 6 years in Aug but it is the only mark on my file but my score on my report comes back as fair.

[silverfox1961]

Cabot do buy an awful lot of Citi debts so you are probably right. I would wait for them to contact you two or three times (or more)

[themadcap]

Nobodys bothered me about it and I dont expect them to and it will be removed in 6 months, but I want to buy a car and this will affect any finance requirements as there is nothing else bad on my report

[debbbbsy]

I would also recommend leaving it until it disappears. If you contact Cabot now they will have an address & phone number. In 6 months time, not only will it be gone from your credit file, but if you have not made any repayments since this default was put on, it will also become statute barred. Even if they somehow produced or recreated an agreement, they couldn't take you to court.

6 months will fly by, and then u can buy that car.

[alfwithhair]

Agreed, do not alert Crabpot to your whereabouts. 6 month will be gone before you know it.

 

If they get the slightest wiff of a quick buck before it goes SB they will be churning them threatograms out like hotel bookings for the royal wedding

[NailPost]

Keep an eye on your credit report. You may see a flurry of activity as Cabot try and get some of their pet threat monkeys to chase after this before it goes sb and they will all search the credit files of all three credit reference companies (they are not agencies, they are in it for the cash!). You should also watch out for Cabot trying to "renew" the default after August.

[themadcap]

Thanks, how would they be able to renew a default? As I said im not fully aware what it is for but any default was surely from the originator and ive no idea who they or Cabot are .

[NailPost]

They would simply tell the credit reference people there is a default and they would believe Cabot and that would be that. The credit reference companies rely on firms like Cabot to keep them in business. This is a sector of the credit industry where regulation needs to be tightened up and more creedance given to the views of the consumer rather than Cabot and their ilk who are simply paying clients

[themadcap]

the only info on the report is a red D marked in July 2005 everything before or since is completely blank copied and pasted below:

 

Payment History

This table shows how you have kept your account over time, for infomation about individual months pass your mouse cursor over the coloured block

2005 J F M A M J J A S O N D

D

The D should be under the J.

 

There is nothing else on here which is why I dont think it has anything to do with my history,I dont recall ever defaulting anything except the usual Vodafone mobile phone one.

[themadcap]

I think Tower investigations have been foolish enough to purchase this from Cabot in a last ditch attempt before it becomes S/B, some of these DCA's are quite laughable in their vain attempts, "contact us to assist in our enquiries" hahahaha

[NailPost]

Simply file under ignore, its up to them to contact you in a proper way. Few more weeks and you can reveal yourself and tell them to get knotted.

[themadcap]

Yes Nail,

It was filed BIN 30 seconds after opening,40 days till S/B so expected someone to try it on

cheers

[NailPost]

And if these chancers are stupid enough to try and launch a court action tey would not only need to have the original documents, which you know are not available, but they would also have to explain to a judge why they waited until the 71st month of the sb period to even contact you. They know they would be laughed out of court with a costs order in their pocket.