Default from CABOT FINANCIAL

[Ljovies]

Hi everyone,

 

Would really appreciate some advice on what to do next...

 

Husband and I applied for a mortgage back in May this year and it was declined, so I checked my credit file and noticed a default had been placed by Cabot Financial (UK) Ltd. Balance was around £1100.

 

Started Nov 2004

Defaulted on April 2007

 

I was not living at the address at the time they appled the default, so I did not receive anything from Cabot warning me about it. First I knew was when I checked my credit file. Haven't a clue what this debt is.

 

Having no idea what it was for I contacted Experian and their fraud investigations team contacted Cabot on my behalf. Cabots response to Experian was that they had now passed on the debt to 'Scottcall' and that I should ring them. Surely if I'm disputing the default Cabot have placed it is up to Cabot to investigate? I can't believe they have fobbed Experian fraud investigations off so easily.

 

So, I'm not really sure what to do next. I thought they had to notify me in writing before they could place a default on my file for 6 long years? I have been looking at other posts here and considering going down the CCA letter route, but that would then give them my new address and I don't really want these people to have it.

 

We are now stuck paying interest on the deposit we've taken out and having to pay rent until I can get this default removed.

 

Banging head against a brick wall now, not sure where to go with this or how to proceed . Any help would be much appreciated.

[citizenB]

I think you are going to have to write to Cabot and demand to know what the Default is for. Are you aware of any debt that might have been assigned to Cabot for that amount ?

 

The only thing I can suggest you do is Subject Access Request Cabot for all the data they have on you... sadly this does mean giving them your current address for them to respond to.

[Ljovies]

Thanks citizenB, I was afraid of that being the case. I really don't have a clue what the debt is for, my ex partner lived at the address long after I left, he could have applied for something in my name, that's all I can think of, but either way I know the debt is not mine. I can't have this hanging over me for months, we need to move so our little girl can start school. I just need to find the quickest and easiest way to kick this company into touch and get them to remove it. Having read some other posts about Cabot I think i'm going to have quite an ordeal on my hands.

 

Experian said they would forward any supporting documents to Cabot for me but I'm sure I'll get a reply from Cabot asking for proof of my current address etc. I want to get everything boxed off and sent to them in one go so there is no weeks of waiting for replies to and fro. So SAR and CCA? I'm baffled as to how they can do this to me, without me knowing anything about it!

[huggys boss]

I think SAR is your best option. I don't think you can really CCA them without knowing what agreement you are looking for.

[citizenB]

You need to obtain a copy of the agreement (CCA) if at all possible a signed copy.. that way at least you will be able to see if it was your EX who signed the paperwork. Ideally, you would need to send the CCA request to the Original creditor, but if you dont know who they are then I think your only option is to use the "Prove it letter" from the CAG library.

 

This puts Cabot in the position of proving it is you that has this debt..

 

Basically it says, I have no knowledge of any debt with you or any other creditor. Please provide evidence, if not then remove the default.. it would be for you to probably take action to force Cabot to remove it via the courts.

 

HTH

[BRIGADIER2JCS]

What date was the default placed

on the file, and I presume Cabot

are now listed as the owner, have

you checked on Equifax as the data

is listed in a different format and

will often show what type of debt

this is CC, Loan etc.,

Also they some times show the date

of the last delinquent payment which

is the actual statute barred date.

 

Brig.

[Ljovies]

What date was the default placed

on the file, and I presume Cabot

are now listed as the owner, have

you checked on Equifax as the data

is listed in a different format and

will often show what type of debt

this is CC, Loan etc.,

Also they some times show the date

of the last delinquent payment which

is the actual statute barred date.

 

Brig.

 

Hi Brig,

 

I have checked on both Experian and Equifax and the only info showing on the default is:

 

Cabot Financial UK Ltd

Started Nov 2004

Defaulted on April 2007

Account number XXXXXX58 Cedit card/store card

 

This is the only entry in relation to the debt, there is no other entry from any credit/debit card company showing any late payments. Just this default from Cabot.

[BRIGADIER2JCS]

At least that established that

it is a card account,, does this

ring any bells??

Get the CCA request in asap.

It's the only way to nail this if

there is no correspondence

relating to it.

 

Brig.

[Ljovies]

At least that established that

it is a card account,, does this

ring any bells??

Get the CCA request in asap.

It's the only way to nail this if

there is no correspondence

relating to it.

 

Brig.

 

Thanks guys,

 

Don't feel so helpless and alone having found the forum. I would have expected to see a credit card reporting late or missed payments on my credit file relating to this so-called debt Cabot have defaulted so I'm still baffled?

 

I'm not familiar with statute barred, is this relating to the date they claimed the debt or six years after the default date?

 

Jovie

[BRIGADIER2JCS]

Hi, The Limitations Act 1980 states thet

''If no acknowledgement or payment towards

a debt for a period of 6 clear years the then

debt cannot be enforced in court.''

[Ljovies]

I see that's useful, when would the 6 years apply from? 6 years from the 'start date' (unsure exactly what that refers to) or the default date?

 

Jo

[BRIGADIER2JCS]

It is six years from the date of the last payment plus

1 month which is the date of the missed payment

giving cause for the default, the default date may

be some months later.

Also any written acknowledgment of the debt applies.

[alangee]

Hi Ljovies

 

Were you resident at that address in November 2004 when it is alleged you took out the credit/store card? If so, can you remember applying for any cards around that time?

 

If you cannot think of any cards that you may have applied for that could be the debt that has been defaulted, then I think your best advice would be to follow that suggested by citizenB, and send a "prove it" letter.

 

If you can think of one of the card companies that you got a card from, and no longer use, then you may be able to go through them, rather than Cabot, to get the information needed and send them an SAR.

 

Alan

[Ljovies]

Hi Ljovies

 

Were you resident at that address in November 2004 when it is alleged you took out the credit/store card? If so, can you remember applying for any cards around that time?

 

If you cannot think of any cards that you may have applied for that could be the debt that has been defaulted, then I think your best advice would be to follow that suggested by citizenB, and send a "prove it" letter.

 

If you can think of one of the card companies that you got a card from, and no longer use, then you may be able to go through them, rather than Cabot, to get the information needed and send them an SAR.

 

Alan

 

Hi Alan,

 

I was not living at the defaulted address at the time and had not been there for some months. Cabot are still refusing to remove the default and they have now passed the debt on to 'Scottcall'. Despite this I thought as Cabot have placed the default, then it is Cabot I have to challenge remove it? Regardless of who they have since passed this debt on to.

 

I have a feeling they are just sending me in circles. I'm planning on claiming the last 5 months rent I have had to pay from Cabot too at £780 a month. This default has caused our house sale to be put on hold and every penny I have to pay in rent as a result of this I will be chasing them for. Shoe well and truly on other foot let's see how they like that.

 

Just getting a letter together today, so I can establish who the original account owner is. I can also proove I was not living at that address at the time the account was opened - so now I'm quite looking forward to this fight.

[huggy41]

subbing

[alangee]

Hi Ljovies

 

I would suspect that Scottcall are just collecting for Cabot, so yes Cabot should be the one to chase.

 

If you have suffered hardship as a result of an invalid default, then you claim for every penny of your rent, and compensation on top.

 

We do not know yet when Cabot bought this debt (whoever it belongs to), but if they were the ones to default you in 2007, it is unusual of them to hang around for 4 years before they start trying to collect. If they did not default you, then they should tell you who the original creditor was, that did.

 

Alan

[Ljovies]

I suspect they have probably been trying to collect at my old address? Well.... letter has just left to Cabot today, via special delivery. I have used the 'proove it' method and I await to hear from them as to who the original creditor is.

 

I'm thinking the account they are trying to collect on now must be over 6 years old. There are no missed payment entries or history of any missed payments from a credit card on my report so it must have dropped off.

 

Even though I assume the account must be over 6 years old (so they cannot collect on it?), the default still has another year + 7 months to go before it drops off so they must have waited some time before applying the default. Anyway, it should all become clear soon and I will keep you posted.

 

Jo

[BRIGADIER2JCS]

What ever the situation with the SB

date the default remains for the full

6 years, unless (and I have done this) you

appeal to the creditor who has posted the entry

stating that now the debt is stat barred it's

unfair to keep the default on file, it is worth

a try but is not always successful.

Brig.

[The Munksy]

Hi, Ljovies

 

The 1974 Consumer Credit Act made debts taken out before April 6th 2007 unenforceable (even by a court) if the original credit agreement did not contain certain details, known as the "prescribed terms". It is thought that a large proportion of credit agreements drafted before this date do not meet the stipulations as laid down in the Act, and that they are therefore unenforceable. The very basis of their validity in law is unsafe.

This will give you extra ammo to get Cabot to remove the default from your credit file.

[BRIGADIER2JCS]

the ACT does not

make ALL agreements unenforceable

many agreements at that time did

comply, the actual point is that the

ORIGINAL AGREEMENT MUST BE

PRODUCED IN COURT.

[Ljovies]

Just to update, I have received my first letter back from Cabot today.

 

My first letter to Cabot consisted of a SAR & CCA request (templates) which I used together in one letter. I told them I was disputing the default THEY have placed on my credit file and that I was requesting the CCA from them as they should already be in possession of the agreement as they have defaulted my file (am I wrong there?)

 

Im a little lost as to the original creditor... Apparently the debt is from a Capital One credit card, opened in November 2004, defaulted in 2007. This is where I get lost... I have a credit card with Capital One which I opened in 2006, I use it for fuel then pay in full every month and they have been reporting the account to the credit ref agencies every month as you would expect. Now what I don't understand is... why is there is no record on my credit file of this other card I am supposed to have taken out? The one Cabot are chasing me for. There is no history of this card/account/late payments nothing on my file relating to it whatsoever. Just the default from Cabot? My account with Cap1 is in very good order so i'm confused as to why they would not report this second card I still know nothing of.

 

Anyway, I have included their letter for anyone to cast eyes over. This was their response to my dispute default/SAR/CCA/CPUTR letter.

 

Where do I go next with this? Ljovies

Edited September 24, 2011 by Ljovies

[BRIGADIER2JCS]

Your SAR should have gone

to the original creditor, also

there is no obligation to send a

CCA with a SAR request.

The data you will get will only

be that which has accumulated sinc

Cabot aquired the debt and nothing

prior to that date.

Cabot would be unlikely to have

a copy of the agreement as generally

it is not supplied to the until this kind

of situation occurs.

I may be missing something here you

say that your current card account is

up to date and in good order, why then

is there a default on it?

Check the default and see if it could

actually be for the card Cabot are chasing.

 

Your SAR should have gone

to the original creditor, also

there is no obligation to send a

CCA with a SAR request.

The data you will get will only

be that which has accumulated sinc

Cabot aquired the debt and nothing

prior to that date.

Cabot would be unlikely to have

a copy of the agreement as generally

it is not supplied to the until this kind

of situation occurs.

I may be missing something here you

say that your current card account is

up to date and in good order, why then

is there a default on it?

Check the default and see if it could

actually be for the card Cabot are chasing.

Edited September 25, 2011 by citizenB
duplicated posts merged

[Ljovies]

Your SAR should have gone

to the original creditor, also

there is no obligation to send a

CCA with a SAR request.

The data you will get will only

be that which has accumulated sinc

Cabot aquired the debt and nothing

prior to that date.

Cabot would be unlikely to have

a copy of the agreement as generally

it is not supplied to the until this kind

of situation occurs.

I may be missing something here you

say that your current card account is

up to date and in good order, why then

is there a default on it?

Check the default and see if it could

actually be for the card Cabot are chasing.

 

Sorry if I didnt make it clear, the card I have with Cap1 right now (opened in 2006) is not the one Cabot are chasing. This card only has a very small balance and is paid in full every month. This card IS being reported to my credit file every month by Cap1 as an active, up-to-date account.

 

The default Cabot have placed (from an account opened in 2004) does not relate to this card. They told me the debt is from Cap1, so what I was confused about is, why there is no other card from Cap1 showing on my file? With history of missed payments etc?

 

If this other credit card they claim is mine and defaulted 2007, why is there no entry from Cap1? I'm totally confused.

[BRIGADIER2JCS]

I am confused to, I suggest CCA

request to Cabot on the defaulted

account totally apart from any other

matters.

Then a SAR to Cap1, that I think is

the only way forward, the SAR and the

CCA must be kept separate as they are

covered by different legislation.

It appears to me that the debt

was sold by Cap 1 to Cabot and

Cabot have change the ''owners''

name to theirs, so that's why no

Cap 1 entry.

[Ljovies]

I have already sent both a CCA and SAR letter to Cabot and the image I posted above was their reply. I was very clear that I was making the two seperate requests, just happened to be in one letter... so I was wondering what the next step is. I thought it was up to them to prove this debt is mine as they are the ones 'owning' it.

 

Their letter pretty much says if we have the agreement we will send it out with the SAR request documents, so the 12+2 days seems to mean nothing?

 

I did not know who the original debt belonged to until I requested everyting from Cabot. I sent them a SAR because I want to see everything they have been sending to me at an address I was not living at. I can prove this debt is not mine, I moved out long before the debt account was opened. So now who has to produce the agreement? Cap1 or Cabot who now own the debt?

 

Im trying to see if they do have an agreement or not so I can see the signature panel because I know I did not sign anything. Once I have that I can then work towards getting the default removed, by either taking Cabot to court if I have to or going down the complaints route. Im really sick of this and just want to get it sorted asap. Thanks for all the help guys. Jo