Debt_mountain vs Cabot

[debt_mountain]

Well, now that I am back and have had a great and refreshing holiday in the sun, its back to business.

 

M&S sent me a copy of the "original" "goodbye letter" as proof the debt had been passed on to Cabot. Only problem was that they forgot that at the time the debt was allegedly passed on M&S Money didn't actually exist, it was still M&S finanial services, so Cabot have made a very large boo boo.

 

I say Cabot made the boo boo as I beleive Cabot have prepared this frankenstien letter faxed it to M&S (it has their fax number on it) and M&S have passed it to me as an original.

 

The date the debt was allegedly passed to cabot was before M&S money became a company so Cabot have used a current version of the M&S headed paper to produce the letter that M&S are saying they sent me at the time of assignment.

 

I have added this into the response I sent to the defence they have supplied for my claim.

 

Then I got a new order from the court saying that the judge has passed this case to the Newcastle court and marked it as "Chancery Business".

 

Just need to see what that means now.

 

Look like it may be leaving the small claims now but the judge looks to be taking it very seriously.

[elizabeth1]

Hiya DM - seems your judge is seriously looking at these clowns? :D

 

This company should just give up and hold their hands up and put right the wrong they have been doing - cause they really are in deep "pooh" - like they say "what goes around - comes around"

[debt_mountain]

Hi Elizabeth1. Yes, I have had dealings with the same Judge on 3 other claims and he is excellent and very fair, but I have been reading up some of the info on Chancery and they are the court who also review, and I quote the HMCS website "The Division is increasingly involved with financial regulatory work and Director disqualification and Professional negligence.", so my unspecified claim for damages (limited to £3000) may be defined by the court.

 

found here Information about - Chancery Division

 

but the transfer to Newcastle will please Mrs DM as she likes a little shopping at the Metro centre, so hopefully the hearing will be one of her non work days and we can claim the expence of a stay over in a hotels too;)

[Seahorse]

OOOhhh, heck. Seems like Cabot could well need to amend the way they do business, judging by the info off the website you've just mentioned.

 

Assuming they HAVE a business left after you've finished with them. :D:D:D

[Jeff2000]

Hi DM,

 

 

Seems like your case will now go in front of a judge that does know something of the consumer credit act etc.

 

This could be the beginning of the end for Cabot!

 

 

Best wishes, Jeff.

[Seahorse]

OK. Let's talk hypothetically now. Just assuming a Debt Purchasing Company DID become deceased.

 

What would hapen to their Big Book of Accounts?

[Rhia]

It's a very tempting thought that they are in for the big kibosh but sadly I think there are too many unwitting consumers out there who will cough up at the first load of frighteners landing on the doormat. But I do love the way y'all winding these toerags up. It's simply magnificent. :D

[elizabeth1]

Hi DM,

 

 

Seems like your case will now go in front of a judge that does know something of the consumer credit act etc.

 

This could be the beginning of the end for Cabot!

 

 

Best wishes, Jeff.

 

 

Well here's hoping this is so Jeff !!!

 

Looks like they need to adjust their ways and start playing a cleaner game?

[debt_mountain]

Hi DM,

 

This could be the beginning of the end for Cabot!

How could I live with that on my conscience.......easily.

 

Lets see what me learned friend asks for us both to provide. My responce to their 10 page defence was 16 pages long, so he has a little studying to do.

 

I also sent in a draft order for him to concider which basically asked that he order a legible copy of the Agreement (not an application form), copy of all T/C and any other reference document and of course proof of what was assigned to them from the original lender.

 

I have also informed the original lenders what is happening and that if Cabot continue to say they don't have the rights and the duties then they too will be dragged along to help out.

[Jeff2000]

OK. Let's talk hypothetically now. Just assuming a Debt Purchasing Company DID become deceased.

 

What would hapen to their Big Book of Accounts?

 

 

 

They might then find their way into the hands of a highly respected DCA, which would treat their debtors with the utmost respect, and would collect any payments owed in an outright professional manner!

 

 

Jeff.

[Seahorse]

Does such an animal exist??????

[joesoap]

They might then find their way into the hands of a highly respected DCA, which would treat their debtors with the utmost respect, and would collect any payments owed in an outright professional manner!

 

 

Jeff.

 

Perhaps NUFC will win the premier league this coming season as well!

[Jeff2000]

Now you are being silly!!!

[joesoap]

Now you are being silly!!!

 

I certainly am; I could have said the mackems but that would have made me look even sillier!

[Seahorse]

Less chance than the Palestinians and Israelis sitting down to a slap up pork chop barbecue together. With plenty of booze to wash it all down with.

[joesoap]

Less chance than the Palestinians and Israelis sitting down to a slap up pork chop barbecue together. With plenty of booze to wash it all down with.

 

Well done Iain

 

Couldn't have put it better myself.

 

Ian

[debt_mountain]

Update

 

M&S have now come back and said they ARE the creditor!!!!, I think they are a little behind the current claims and backlash, but I am happy to invite them to the party down in Chancery court.

 

they also stated that they give Cabot permission to use their headed paper....ouch... that will probably hurt when my new found Chancery pal reads it.

 

Is it called chancery because they a a bunch of chancers????

[debt_mountain]

I was made a settlement offer yesterday but it was not even worth considering plus had a non disclosure, I then sent a counter settlement which was very quickly rejected.

 

I have also sent letter to the court (and copied my pal Dean Spencer), as ordered, to give an update on the discussion we are having. I have explained we are sharing info but need further directions. I offered 1 direction order, to order Cabot to supply the sales and assignment agreements for each account as this is critical in moving forwards.

 

I also attached a little process list of what the Cabot Group do for us consumers (quite a disgusting little suite of companies and practices when looked at like this):-

 

 

Process for debt collection performed by Cabot Financial Group of companies.

 

 

 

Step

1. Original Creditor sell the debt to Kingshill No 1 Ltd for approx 10% of its face value

2. Original Creditor claims a refund of corporation tax on this remaining balance of the debt as a bad debt

3. Kingshill No1 Ltd purchase these debts in bulk without first verifying if they are enforceable and have all of the required information to ensure they can be collected legally and ethically.

4. Kingshill No 1 Ltd pass the account information to Cabot Financial Europe Ltd to collect the debt in full.

5. Kingshill No1 Ltd also take over the Original Creditors information being shared with the Credit Reference Agencies and where no information was being shared or a “default” was not already registered, they register the account as "defaulted" without first ensuring that an agreement exists that gives the debtors permission to share this personal information.

6. Cabot Financial Europe Ltd print a letter on the Original Creditors (not the a Cabot Financial Group company) headed paper saying the debt has been sold to Cabot Financial Europe Ltd and any future communications and payments are to be with Cabot Financial Europe Ltd

7. Cabot Financial Europe Ltd then print a letter on their own headed paper saying they are the new owners of the debt and they have to be contacted to make arrangements for payment of the alleged debt.

8. Cabot Financial Europe Ltd then start a process of continual letters and phone calls to try to collect the alleged debt

9. If Cabot Financial Europe Ltd fail to make an arrangement or make contact with the debtor they will then pass the debtors personal information to other third parties to try to trace the debtors. This can also include a land register search.

10. If Cabot Financial Europe Ltd do make contact and start to receive payments they then pass the debtors personal information onto another of their group of companies called Morley Ltd who are a sub prime mortgage lender.

11. Morley ltd have been supplied information that Cabot Financial Europe Ltd have obtained from performing a land register search to show there is likely to be equity in your property.

12. Morley Fuding Ltd is a dormant company ready to pounce when the housing markets crash, but another Cabot company may then offer you a secured loan to pay your debt to Kingshill No1 Ltd via its collection agent Cabot Financial Europe ltd.

[debt_mountain]

The fact they want non-disclosure and are not trying to come to a serious settlement is a bad move for them.

 

Once the info is in court it is in the public domain unless ordered otherwise by the Judge.

 

So I would say its a lose lose situation for them. I will not accept a NDA and the court will probably not order my silence.

 

Getting quite exiting now.

 

come on Mr Chancery give us some orders.

[elizabeth1]

The fact they want non-disclosure and are not trying to come to a serious settlement is a bad move for them.

 

Once the info is in court it is in the public domain unless ordered otherwise by the Judge.

 

So I would say its a lose lose situation for them. I will not accept a NDA and the court will probably not order my silence.

 

Getting quite exiting now.

 

come on Mr Chancery give us some orders.

 

 

WELL - LET THEM ENJOY THE "CONTROL" WHILE THEY STILL HAVE IT - Because it won't be long now before this falls around their ears?

 

Like you say it's not a serious attempt to settle - which is shame on them - they will be worse off for their lack of efforts.

[itsamomentintime]

I was made a settlement offer yesterday but it was not even worth considering plus had a non disclosure

 

 

are you able to say what you were offered?

[itsamomentintime]

and before i forget, make sure the OC gets hammered as well

[debt_mountain]

At the moment I will not share this as I am at a stage I do not want to give any info that may P off the judge if he were told about it. You never know how low Cabot may have to go.

 

Sufice to say I couldn't have retired on it.

[itsamomentintime]

re post 168

 

cant believe that this cannot be made even more public that just this site

 

it should be a sticky at the very least

[Seahorse]

Well, funny you should mention that, my little Manchunian Friend.

 

It will soon have it's own page on a certain website. Probably before the week is out. And very prominent it will be too. Watch this space for more news.