Cabot Financial and Egg

[JPX]

Hi

 

Cabot have recently contacted me about an Egg loan. I have requested a copy of the CCA. They have sent me a number of letters stating that they are still requesting a copy of the credit agreement from Egg. I originally requested the information in Aug. They have also sent me a copy of the £1 postal order that I sent with the request saying that they don't require the payment. (Is this normal?)

 

The latest letter (dated Oct) said that following: Unfortunately Cabot has not been able to provide you with the requested information within the relevant time period. We shall continue to request the information from the original lender to assist you with your request. In the meantime, we would like to inform you that your account shall remain on hold with the Customer Assurance Department until such time we can comply with your request. Please note, you are still obliged to repay the outstanding balance as confirmed in this letter and therefore we would recommend you contact us as soon as possible to set up a repayment arrangement or continue with your existing payment plan.

 

Please can you advise on the best way forward? If they cannot produce the credit agreement can they take action if I don't respond? On the other hand, I want to get this removed from my credit file but I can no where near afford to pay the full outstanding balance. Am I in my rights to ask them to close the account if they cannot produce the credit agreement or would it be better to offer them some money as a final settlement ? I am struggling with money at the moment and I'm likely to lose my job in the next few weeks so I don't have much to give them but I want to get this sorted once and for all.

 

Thanks for your help in advance:???:

[padja]

wait for CCA, but look around forum as to what steps to take next if a CCA turns up, I wouldn't contact them again just make sure the postal order isnt used towards debt

[gloryhunter]

Hi jxp i have had a run in with cabot and know what they are like, without the original agreement,t&c statements ect a dont think they can take you to court. DO NOT OFFER THEM A PENNY have they sent you any paper work at all ? if they want to hold on to the account thats fine cause without proof they cant move . When was the last payment made ? I am sure other CAG members will be along shortley dont worry with the help of CAG we shall over come GH

[firstship]

If Cabot own the debt then send them Account in Dispute letter and ask them on what basis do they consider I should be paying money to them when they cannot produce an agreement which covers the alleged debt.

 

You need only pay each month what you can Honestly afford and not the amount they demand.

 

Sending the £1 PO back often happens it is their misconceived idea that they are being nice,friendly etc

 

If you close the account it will not get the debt removed from your credit file.

 

Have you checked your Credit file if so who lodged the Default?

 

FS

[JPX]

Hi All

 

Thanks for your quick response. They haven't produced any paperwork as yet. The loan was taken out about 5 years ago and I think I applied for it online so I can't actually remember signing an agreement. The last payment was made years ago. I think it shows up a default by Provincial Bank on my credit file. Would you recommend that the first step is for them to prove that they own the debt? Thanks again.

[firstship]

Provincial Bank is American or the Provincial Bank of Ireland is Belfast based, cannot see the link with Egg.

 

Cabot are big debt purchasers so follow through and send the account in Dispute letter.

 

Have you received a Letter of Assignment from Cabot stating they own the debt or did Egg send a letter stating they have sold the debt to ??

 

FS

[JPX]

Hi

 

Maybe it says Prudential Bank. I can't remember I will check again. I havn't received anything from Egg to say that they have sold the debt and I have not received a letter of assignment from Cabot stating that they own it.

 

Should I request this before sending the account in dispute letter or just send it anyway?

 

Thanks again

[firstship]

Send the "account in dispute letter" and add to the bottom of the template letter,I require confirmation who is the owner of this debt,before I consider any further action,in view of the fact that there is by your own admission at the present time no Formal Agreement

 

FS