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It actually makes for interesting reading, Brig. Although I am only a quarter way through it at the moment as I keep dropping off :lol:

 

Don't blame you CB I'm orf to the pub!!:madgrin:

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Hello folks, can you please tell me if my understanding of the advice/opinions is correct, based on the info I have supplied so far.

1. When the debt was sold/assigned to Cabot then the original T & C's should have still been in place.

2. Cabot could not legally offer the same service as they are only a DCA and are not able to offer credit facilities.

3. As such they could not issue a DN as the original credit agreement was not with them but with Goldfish.

4. Goldfish needed to issue the DN and terminate the contract so that it becomes a debt and not an ongoing credit agreement.

Sorry if it seems a bit all over the place but I'm trying to get my head around the intricacies and terminology used. More of a K.I.S.S. man myself, maybe that's what the credit industry want, and try baffling people like me with nonsense words and sentences.

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Sorry, missed that.. :(

 

I have to agree, with your comments here. That DN is irrelevant. Bizarre that they even think they can issue it ??

 

Seems to me these people are struggling to make a living (GOOD) and are resorting to all sorts, wonder when the huff & puff boys step in, FSA/FOS, makes you wonder if the new jobs for some empolyees is to troll these sites as I have noticed some very aggressive comment./posts on forums recently. in as much I just signed out of martin site and that is it regarding that site, even a travel site has trolls on as any complaint against a travel company is shouted at.

:mad2::-x:jaw::sad:
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My opinion and my opinion only. You need to wait for the SAR because it is possible that goldfish did terminate your agreement prior to sale. There are usually clauses saying they can vary or even cancel the agreement with the appropriate notice.

If they reduced your credit limit to zero then I can see no reason why cabot could not hold your account as the do hold a ccl although again i am not sure of the nature of their license.

 

Much depends on what they intend to do now. If they produce a CCA. which i doubt they could then go to enforce at which point i would be looking for legal advice. There are firms out there that will do it on a no win no fee basis.

 

If they do not produce a CCA. the question is did goldfish record a default prior to sale,if not again i can see no reason why cabot can not mark your credit file with a fresh one.

 

Hope that makes sense.

Any opinion I give is from personal experience .

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Hello folks, can you please tell me if my understanding of the advice/opinions is correct, based on the info I have supplied so far.

1. When the debt was sold/assigned to Cabot then the original T & C's should have still been in place. - Unless there had been variations

 

2. Cabot could not legally offer the same service as they are only a DCA and are not able to offer credit facilities. Cabot are not a "creditor", so no, they cannot offer credit to you.

 

3. As such they could not issue a DN as the original credit agreement was not with them but with Goldfish. My understanding of this is, that they cannot issue a Default Notice as the DN is a demand to repay arrears on a live account. If the account had been reduced to a £0 balance prior to selling to Cabot, then it wasn't a live account as such. The Default Notice is a statutory document that demands remedy of a breach of an account under which terms if the breach is remedied then it is as though the breach never happened. They can however issue a Notice to Default which is a notice that they will place a default on your account. However, again, I don't see the point as the original creditor has already placed the Default Marker on your credit files.

 

4. Goldfish needed to issue the DN and terminate the contract so that it becomes a debt and not an ongoing credit agreement. That is my understanding, yes

 

Sorry if it seems a bit all over the place but I'm trying to get my head around the intricacies and terminology used. More of a K.I.S.S. man myself, maybe that's what the credit industry want, and try baffling people like me with nonsense words and sentences.

 

 

Hope this helps

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Dealing with Customer Service Departments? - read the CAG Guide first

 

1: Making a PPI claim ? - Q & A's and spreadsheets for single premium policy - HERE

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3: Feel Bullied by Creditors or Debt Collectors? Read Here

4: Staying Calm About Debt  Read Here

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2: Does your Bank play fair - You can force your Bank to play Fair with you

3: Banking Conduct of Business Regulations - The Hidden Rules

4: BCOBS and Unfair Treatment - Common Examples of Banks Behaving Badly

5: Fair Treatment for Credit Card Holders and Borrowers - COBS

 

Advice & opinions given by citizenb 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.

 

PLEASE DO NOT ASK ME TO GIVE ADVICE BY PM - IF YOU PROVIDE A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER ADVICE THERE:D

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I have become really really confused. Did goldfish ever mark your credit file with a default and if so what date?

 

After serving the DN did cabot register a default on your credit file and again if so what date?

 

I think all this discussion about if the cabot DN is valid is premature as there is no sign of a CCA yet.

Any opinion I give is from personal experience .

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Hi fletch. It makes sense so far. If my memory serves me correctly ( no promises there) then my credit limit was reduced to zero. I do remember phoning Goldfish when I first got into difficulty in 2006 and stopped using the card then. Can't remember anything about terminating the contract as I didn't realise the importance of all this legalese then. Plus i expected to get a job paying close to the previous one.

Looks like I might have opened a can of worms by asking for the CCA. I have until now been paying regularly (cash cowed?) but if they see their backside could they then get nasty and try and BR me? or would that be detrimental to their cause.

I am not named on the mortgage, don't have a car and only work on a zero hours contract. As for my credit file the default is with Cabot and from Oct 2008.

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Hello everybody.

At the moment it seems that a few post are suggesting that until the SAR arrives from the OC then all we are doing is speculating. Sorry if that is what is happening as maybe I can't give you the correct info to fully help and assist me. Would it be in every bodies interest to wait until I can give the correct info, before we go off into the realms of what if's and maybes. My head is beginning to hurt again and I hear the darkened room calling again. I will be sending the "Account in Dispute" letter on Monday as their time to supply it is now up.

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Horsen. brain ache,been there done that got that t shirt.

 

If they can not provide a CCA then you are home free.

 

As for the rest of it wait on the SAR. I think it is unlikely the would issue a SD if you have big debts and no assets. However depending on your job,would it be such a bad thing?

Any opinion I give is from personal experience .

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Hi Fletch.

Could be a problem due to other debts where the O/H is also on agreements. Have got another thread going but have not been on it while waiting for info. Trying to keep different debts apart so brain doesn't end up too fried. Plus being a bloke I keep being told I can't multi-task. Having a beer, watching football and eating at the same time don't count as far as the O/H is concerned.

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Hello folks, can you please tell me if my understanding of the advice/opinions is correct, based on the info I have supplied so far.

1. When the debt was sold/assigned to Cabot then the original T & C's should have still been in place.

2. Cabot could not legally offer the same service as they are only a DCA and are not able to offer credit facilities.

3. As such they could not issue a DN as the original credit agreement was not with them but with Goldfish.

4. Goldfish needed to issue the DN and terminate the contract so that it becomes a debt and not an ongoing credit agreement.

Sorry if it seems a bit all over the place but I'm trying to get my head around the intricacies and terminology used. More of a K.I.S.S. man myself, maybe that's what the credit industry want, and try baffling people like me with nonsense words and sentences.

 

 

IMO yes to all those points!!

Especially Cabots default notice.

Any Letters I Draft are N0T approved by CAG and no personal liability is accepted.

Please Consider making a donation to keep this site running!

Nemo Mortalium Omnibus Horis Sapit: Animo et Fide:

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My OH tells me she isn't bossy. I don't mind banter on here but not when it gets too far from the reason I am here and for too long. I do have a sense of humour, still in its original packaging, but I am really stressed trying to deal with a few major debts and other life things. Cheers and thanks for the advice so far given. As I said yesterday the "Account in dispute" goes off tomorrow. That should give me some time to deal with other debts.

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I do understand. A few years ago the shut hit the fan for me and i was in 45k of debt. I started to pay it off with the help of a dmp but added another 3k to it. Then i lost my job and had a meltdown. 12 months ago i went down the CCA route and over half of it is unenforceable either due to non compliance with s77-79 or unenforceable due to bad agreements s127(3) . Stress been there got that you have my understanding.

Any opinion I give is from personal experience .

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Please can I HAVE MY THREAD BACK.

 

Yes, you certainly can. I will just sort out those posts that need "evicting".

Have we helped you ...?         Please Donate button to the Consumer Action Group

 

Uploading documents to CAG ** Instructions **

 

Looking for a draft letter? Use the CAG Library

Dealing with Customer Service Departments? - read the CAG Guide first

 

1: Making a PPI claim ? - Q & A's and spreadsheets for single premium policy - HERE

2: Take back control of your finances - Debt Diaries

3: Feel Bullied by Creditors or Debt Collectors? Read Here

4: Staying Calm About Debt  Read Here

5: Forum rules - These have been updated - Please Read

 

 

BCOBS

 

2: Does your Bank play fair - You can force your Bank to play Fair with you

3: Banking Conduct of Business Regulations - The Hidden Rules

4: BCOBS and Unfair Treatment - Common Examples of Banks Behaving Badly

5: Fair Treatment for Credit Card Holders and Borrowers - COBS

 

Advice & opinions given by citizenb 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.

 

PLEASE DO NOT ASK ME TO GIVE ADVICE BY PM - IF YOU PROVIDE A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER ADVICE THERE:D

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