Cabot Financial/goldfish/brclaycard

[comino51]

I put my alleged account with Cabot into dispute last November 2009

when they could not supply me with the original documents that were with Goldfish.

 

They said that they would keep account on hold until they could provide these, that was January 2010

 

the last letter from them. Received letter yesterday as though I was a new customer

thanking me for my payment (have not paid since last year)

and asking for me to set up a repayment plan with them.

 

Noticed that they have added almost £2,000 in interest in 13 months when Account in dispute,

and they had agreed to hold interest payments.

What should I do next?

[cerberusalert]

The muppets cannot add interest or charges unless it is specifically stated in your original credit agreement. Personally I would disregard their latest missive and wait for them to send something of interest. They are probably just trying to get you to contact them.

[comino51]

I have told them in the past that they cannot add interest but they keep coming up with no end of reasons why they can.

 

When Goldfish sold out to Barclaycard I was already on a repayment plan as I had lost my job,

it had been defaulted and I was paying a fixed payment with their agreement.

 

Barclaycard obviously did not take over their accounts that were not making them any money and sold them all to Cabot.

 

I continued paying this fixed sum for some time,

when Cabot suddenly started charging interest with no notice or explanation, only that they could!!!

 

That was when I started chasing them for all of my original agreements, only to discover that they did not have them.

 

I put the account into dispute, and they said they would put on hold until they found paperwork.

 

I had a lot of help off this site and followed it to the letter.

 

no communication from them for ten months,

then out of the blue this nice!!!!!!! letter.

 

Whether it was in my original credit agreement or not,

they have not got it,

and the account had already been defaulted by Goldfish.

 

I think i will wait and see what they say next.

[cerberusalert]

They can add what they like but at the end of the day they can't take any enforcement action.

 

If by some miracle they do manage to find the original CCA and it is enforceable then you can then start to dispute any charges or interest they've added.

[comino51]

Thanks for your advice. I will await the next communication and see what they say, will let you know as soon as I hear anything.

[42man]

Was there any PPI on the card ? I think Goldfish was originally with HFC - http://news.bbc.co.uk/1/hi/business/7191506.stm

[comino51]

No, they tried to put it on, but I stopped that right at the start. It was Goldfish when I signed up for the card, I don't know if Morgan Stanley was before or after that, and then it was Barclays who took over, so I think that my paperwork is well and truly lost by know!

[comino51]

had another letter from Cabot today,

informing me that they have recently taken over my account from Goldfish!!!!!!

 

They did that two years ago! and that if I did not contact them about a repayment programme they would take it to the next level of collection.

 

They are completely ignoring the fact that they have been in communication with me for two years and put my account on

hold because I put it into dispute awaiting the CCA.

 

What should I do know, shall I writie and enlighten them of previous correspondence?

[Old Cogger]

just proves computer generated template rubbish? like a threatogram from water company I am in arrears of £79 on a paid up account, when rang so sorry but you pay weekly and lowered amount, but a review in 2 weeks time, your account is at £0.00, new amount weekly adjusted (to my figure) proves just no human contact initially to letters sent.

[comino51]

It never ceases to amaze. I can keep fighting them as long as they cannot come up with the CCA, but really do not want all of the hassle and unpleasentness, just wish I could find a way of sorting it out once and for all.

[creditcardmug]

You have joined many on here with the same issues with cabot/goldfish/morgan stanley etc, including myself, personally, after a long drawn out postal argument i refused to correspond any further, and still have threats in the post but nothing else, after another 3 years it will be stat barred anyway, so cant wait!!

[comino51]

It has been 18 months know since I requested my CCA,

they have said they cannot provide it, and put the account on hold themselves.

 

I have it in dispute, and know that they will keep trying.

 

The only thing that really worries me is the interest they keep adding every month,

they are adding over £100 monthly.

 

I really appreciate all of the help I have from this site,

 

I don't know if it is a comfort or not to know others are in the same position,

but at least we can all fight together and see what happens.

 

I will probably go to my grave with Cabot chasing me!!!

[ashmk]

Don't get into a game of letter tennis with Cabot. Its pointless. Just ignor them and let them waste their money.

 

If they were really a threat they would have done something already other than sending the same old letters.

[comino51]

I did that before but with very clever manipulation with the letters that I sent,

I managed to get one or two direct promises in writing,

one of them being that when they get the CCA for me and repayments start again,

they will completely remove all interest that has been added to the account,

and put future payments on zero interest.

 

I have to date about 40 letters from them, which has built up a case of their incompetency.

I did this so that I have enough background evidence if it ever did go further.

 

I did not hear anything from them for 10 months, and as shown above they have started writing again as if I am a complete new customer.

 

I have sent them a reply, just referring them back to all past correspondence,

 

and that still on hold and in dispute. Will wait to see what their next response will be.

[cerberusalert]

they have started writing again as if I am a complete new customer.

They've gone through their cycle of templates & gone back to #1.

[comino51]

Thats very likely true. Will wait to see wether they have managed to change the old rubbish they had in their last lot of letters. Will be interesting to see if they still acknowledge that the alleged account is on hold!

[comino51]

Reply back from Cabot yesterday.

Shortest one I have ever received.

 

"Please contact our offices urgently where our very helpful advisors are here to help come up with a solution to repaying your account."

 

I had highlighted every point made over the past two years in my letter to them,

stating that they had broken the deadlines for supplying CCA,

they had put account on hold, and I had put account in dispute.

 

I stated that they obviously had not got any of my requested paperwork and were unable to obtain this,

so as it was unenforcable the account should be written off!

 

Thought I would try it to see what they said, and they have said very little.

 

Anyone had this, and what is the expected next step!!

[miss muppet]

Reply back from Cabot yesterday. Shortest one I have ever received. "Please contact our offices urgently where our very helpful advisors are here to help come up with a solution to repaying your account."

 

I had highlighted every point made over the past two years in my letter to them, stating that they had broken the deadlines for supplying CCA, they had put account on hold, and I had put account in dispute. I stated that they obviously had not got any of my requested paperwork and were unable to obtain this, so as it was unenforcable the account should be written off! Thought I would try it to see what they said, and they have said very little.

 

Anyone had this, and what is the expected next step!!

 

 

You will probably get passed to FIRE next, another one of their companies and then you will go thro the cycle of nice/nasty letters i.e. "once and only offer, so much percentage off" then pay up or else", this is what has been going on with my OH's account and now they have passed it to Phillips DCA/Bailiffs, sent them "I am bemused letter" back again few days later "pay up or the boys are coming to get ya" now I've CCA'd them. Well done so far, as has been said tho' mostly don't communicate with them unless you want (as you are doing) to tie them up in knots.

[comino51]

Received today my latest letter from Cabot.

All of a sudden they have all of the details from my haggling with them for the past two years.

This is a transcript of their latest letter;

 

I understand that you previously made a request for a copy of your credit agreement under section 78 of the Consumer Credit Act 1974 (CCA)

However you have not received a response and you have received letters regarding the collection of this debt.

 

Initially please be advised that the failure to provide a copy of your agreement in time does not affect the legality of your debt with the Cabot Financial Group,

but merely renders the credit agreement unenforcable until such time the agreement can be produced.

 

It has been established in English Law that enforcement constitutes obtaining a judgement at court.

The reporting of a default entry to the Credit Reference Agencies or Cabot requesting repayment of your account does not amount to enforcement.

 

Furthermore the fact that you have not received relevent documentation in response to your request in no way relinquishes you from your obligations

to repay the monies you have borrowed under the agreement.

 

The last payment you made to this account was April 2009

which means that since this date you have breached the terms of your agreement and interest has subsequently been applied to the outstanding balance.

 

Notwithstanding the above,

I note from previous correspondence that my colleague has agreed to write off any interest applied

whilst you consider your account to be in dispute.

 

We shall of course honour this offer once the relevent documentation has been obtained.

 

However, as set out above, you remain legally obliged to make repayments towards this debt whilst we await receipt of a copy of your credit agreement,

and interest is due to be applied on a monthly basis in accordance with the terms of your agreement.

 

Our offer to you regarding the interest applied is therefore a gesture of goodwill to assist you in resolving this outstanding account.

 

In light of the above, we still recommend that you contact us to make repayments to your account, and on receipt of the relevent documentation we will supply you with the same.

 

I trust that I have set out our position clearly,

 

Yours etc etc.

 

For a start I put the account into dispute in April 2009 because they had started applying interest in October 2008

and was receiving no joy from them as to why they had started doing this.

 

When the account appeared with them from Goldfish they stated that I had to do nothing just keep with the same agreement I had had with Goldfish,

which was all interest had stopped and a monthly payment as the account had been defaulted and gone to collections!

 

I have been waiting for them to produce my agreement since February 2009 and nothing since, but they have added about £2,500 in interest in that time.

 

Anyone else had this, and what is the next step?

[comino51]

I have had help from this site in the past re Cabot and it has worked very well.

 

I had a Goldfish credit card balance of £10k

which right out of the blue was sold to Cabot when they sold Goldfish to Barclaycard,

 

I was making temporary low payments at the time due to being on a four day week and this was defaulted as a result.

I was not consulted just got rid off!

 

Cabot kept my payments the same so everything went along as normal for about 8 months

when they started to add over £110 a month interest onto an account that I was paying £60 per month on.

This was were I had help from this site.

 

I sent all paperwork requesting SAR etc, nothing was forthcoming,

 

they eventually ran out of the stated time limit and they put the account on hold, I also put it into dispute.

 

Cutting a long story short I have not heard anything from them since November 2008

so it is fair to say they cannot find any paperwork for me at all.

 

However I have recently obtained my credit report to see if they are reporting anything,

and low and behold there is a report showing that I make no payments at all and

 

up to end of 2012 they are showing a balance of £16k, no default time limit,

 

it reads as though they have had the debt since 1998 which is incorrect it was 2007,

and nothing to say that this account is on hold or in dispute,

and obviously they are continuing to put on interest.

 

This is really concerning me, and could do with some advice of what my next step should really be.

 

Will this report come off my file after six years or will it continue?

 

I thought that interest was not applied to a defaulted debt.

 

this was defaulted by Goldfish, and Cabot say that I am in default also.

 

Anyone had anything similar?

[Bazooka Boo]

The default will auto drop off six years after they placed it on there.

 

Let them add all the interest they want, as if this agreement was terminated then they can't add anything as it no longer exists.

You can always add a 'notice of correction' to your credit file stating that the amount is seriously disputed and is incorrect, or something like that.

 

And don't forget, that this is YOUR credit file, so if the CRA is reporting something which is factually incorrect, then they have a legal obligation to ensure it is corrected and immediately!

[dx100uk]

did the defaulted date that marbles put on get changed?

 

dx

[comino51]

Well that is something at least it should not show on my file after this year. Still do not know what to do with the debt though!

[comino51]

there is no default date showing on the credit file at all,

 

it just shows account started 6.4.98 which is probably when I took out the goldfish card,

 

does not give any other information other than it was a credit card, date it started, credit limit O, and with the amount increasing month on month with the figure 6 by it,

 

which reading my file, shows that this is 6 months behind payment.

 

Strange as I have not paid anything on this account since 2008 when it was put on hold.

 

I have all correspondence that I have had with them,

 

and they have stated that it is unenforceable because they cannot find the credit agreement.

[dx100uk]

in post 2 you said it had been defaulted?

 

When Goldfish sold out to Barclaycard I was already on a repayment plan as I had lost my job,

it had been defaulted and I was paying a fixed payment with their agreement.