Cabot

[Hayley1210]

Please help

I've been advised by some good people on here over last year regarding some debts, I am in payment arrangements with all however regarding a black horse loan from 2007 I was paying a dca called ascent with interest frozen by black horse. However out the blue last month I received a letter from Cabot saying I had not met the agreed payment and to contact them. There was reference to a black horse loan in their letter. I write on 5th nov stating I did not acknowledge any debt and to provide evidence, since thus I'm inundated with letters and phone calls. I sent letter recorded, which has been received their end. I really don't know what to do ice heard Cabot can file for ccj'a quite quickly

[Hayley1210]

Anyone???

[Crocdoc]

Don't panic it is not uncommon for debt collectors to sell accounts over and over again. If you have been paying Ascent then why not contact them and ask if the debt has been sold or re assigned and request an up to date balance.

 

In the meantime Don't answer calls from Cabot

[Desperate Daniella]

Are your payments to Ascent still ongoing?

 

As Crocdoc says above, never speak to Cabot.

[Hayley1210]

I've been making payments to ascent for nearly a year now, I owe blackhorse about 4700 and have been paying 25 a month. I've not heard off bh or ascent and continue with my standing order. I absolutely won't speak to Cabot. Upon receipt of their first letter I wrote off with the standard I do not acknowledge this debt, and asked for evidence etc, but since it's I've received numerous letters, with no regard to my request. Is there a time limit before I should write back, I'm really concerned I've heard Cabot go for ccj's and enforce sales of houses (not that I have any equity in mine. How can they just expect me to start paying them something they've provided no proof of? I don't understand the system

[Boltmaker]

I have dealt with Cabot on a few occasions with help and advice from the good people on this site. As said previously don't panic. Cabot can be beaten. Check your credit file to see who actually owns the debt. Then ask for proof of the debt from Cabot. Send a CCA request to Cabot ( I would do this by recorded delivery ). They have 12 + 2working days in which to reply, if they don't they are in default of your request. Lets see what comes back from them then we can take it from there. It is highly unlikely Cabot will rush to court without for a ccj without documentation which is what you are asking for in your CCA request.

[Hayley1210]

Hi there I have been able to check my credit file today. The original debt to blackhorse is showing as settled?? And no mention of Cabot. Can anyone shed any light on this?? In the post today I have received a full and final settlement offer from Cabot ?

[Boltmaker]

It could be that the transfer of the debt to Cabot has not yet been registered on your file. Maybe good idea to check other credit reference file , ie. Experian, Noddle, Call Credit and the like. Some offer a 30 day free trial but be sure to cancel before the end of the trial date. Noddle are free all the time but not necessarily up to date. Re your F&F from Cabot, does this offer show any amount of discount, if so it may indicate that they have no valid paper work relating to the account. Sent a CCA request to Cabot to help clarify the [position then you will know for sure. They have 12 + 2 working days to reply after receipt of the request. Send request recorded delivery so you have proof it has been received.

See what comes back then let this site know and further help will be available. I certainly would not take any action, especially at this stage in respect of the F&F. Lets wait and see what Cabot have.

[Desperate Daniella]

It's showing as settled because Blackhorse have sold it and, as Boltmaker says, Cabot probably haven't registered it yet.

 

Boltmaker is right in saying that the amount of discount may indicate the likelihood of their having the paperwork, so the best thing to do is to see what the CCA request turns up.

[pat5y]

What happens if Cabot don't have the CCA?

[Desperate Daniella]

Then you have every reason to stop paying them until they come up with it.

[Boltmaker]

As Desperate Daniella says NO paper work NO PAY

[fletch70]

I couldn't agree more. Get that CCA sent off , if you are not sure how to do it here is a link

 

http://www.consumeractiongroup.co.uk/forum/showthread.php?387435-CCA-Request-Consumer-Credit-Act-1974

 

Just a reminder do not sign it and if you pay by cheque ask someone else to write one for you and give them the quid.

 

Any offer of F&F should be treated with caution, remember that Cabot may have only paid 10% for the debt so if they can quickly offer you a 50% reduction they are still quids in on a very short time scale. Think about it, a return on their investment of 500% , puts PDLs to shame. It does not automatically mean there is a problem.

 

Also if you have been making payments as agreed they can not alter those payments.

 

Did you get a notice of assignment i.e a letter telling you that they had bought the debt?

[Hayley1210]

Hi all, thanks for your replies, I didn't receive any notice but cabot sent a copy when I sent the I do not acknowledge this debt letter to them. I clarified with blackhorse by phone that they had sold the debt. Cabot have offered 30% discount which I couldn't afford even if I wanted to. I curreny owe 3800. I am in the process of SAR to blackhorse to see what charges etc I might be able to claim back I know there's a lot, and I'll CCA cabot. I'll keep posted and thank you so much for the help and advice

[Boltmaker]

A 30% discount is generally good news for you as it tends to indicate that Cabot may not have the correct or sufficient paperwork for the debt they have purchased. I would continue as you are and get all the info you can from BH and Cabot. See and analyse what comes back then let this site know and further help and guidance will be forthcoming.