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Cabot letter RE HSBC Loan


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Hi all,

 

I have received a letter out of the blue from cabot regarding an HSBC loan, allegedly in the sum of £11,045.93

 

I had this loan with HSBC but have had no default notices, NOA or anything from them since I fell on hard times in 2010 and had to stop paying.

 

It states that it is an important notice and that after several attempts to contact me (in reality, none have been made or succesful) they are allegedly going to take legal action against me!

 

What is the first step in this - letter states that if I do not call within 7 days of the date of letter (10th March) they will instruct a solicitor and I'll be locked up and the key thrown away etc. etc.

 

What should be my first course of action?

 

 

CCA via recorded delivery?

 

Is this just a phishing letter - I have had no contact or calls from them at all and I begrudge the heavy handed tactic they are taking here.

 

 

The HSBC debt is recorded on my Credit File, that much I know, but I don't think Cabot are - although I am really not sure on that score.

 

Many thanks for any help

 

BT

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CCA is not re-setting the date it is a right?   no CRA showing ..how can they report a non existent account which is not showing, pay them and if it was then it would just show partially set

if you read back in this thread to the 1st few posts you'll see a mentioned of thing called a managed loan these were famous in HSBC land.   off their own back, and quite typically with

Yup, it's safe to say you are most likely in the clear.

Thanks - is the one from the template good enough, and what about the high court rulings re: "reconstituted" CCA's being allowed?

 

Are Cabot generally pretty good at this or just chancers?

 

 

Thanks for the advice

 

BT

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http://www.consumeractiongroup.co.uk/forum/showthread.php?387435-CCA-Request-Consumer-Credit-Act-1974-**Updated-January-2015**

 

This is the CCA request that you need to send.

 

You say that HSBC have not sent you a Default Notice or Notice of Assignment ?

 

It might also be worth sending a Subject Access Request to HSBC to see what is going on. I will go get the link and pop it back here for you.

 

http://www.consumeractiongroup.co.uk/forum/showthread.php?387306-Full-Subject-Access-Request-**Updated-January-2015**

 

SAR Request - you need to send this to HSBC Head/Registered office - enclose £10.00. They have 40 calendar days in which to respond. You will need to look at the communication log/Diary of Events in order to establish if a Default Notice was ever issued. Also at what point the Assignment took place.

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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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Thanks Citizen B

 

No, HSBC have definitely not sent me anything that I recall - and since my run in two years gone I have meticulously kept every bit of mail from anyone in relation to any debt.

 

Kind regards

 

BT

 

fkofilee said:
Wonder if this is a HSBC managed loan?

 

What are the implications of this, and how do I find out?

 

Cheers

 

BT

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fkofilee said:
Wonder if this is a HSBC managed loan?

 

Pass me the soap box, fkofilee :lol:

 

brokentechie said:
What are the implications of this, and how do I find out?

 

Cheers

 

BT

 

You will discover from your Subject Access Request whether this was a "Managed Loan" or not.

 

You will need to be looking to see if the advisor completed a Means & Needs sheet with you

- whether you actually requested the loan or were you "persuaded" because of your financial situation at the time.

 

Did the Bank roll up any other HSBC debt into this loan ?

Was there any Payment Protection Insurance included.

Did you find that the loan was barely affordable from day 1 ?

 

You say that HSBC are reporting on this debt to the Credit reference Agencies.

 

In what manner are they doing this - have they entered a Default on the file ?

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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No, it states "satisfied" if I remember correctly.

 

I don't have access still, but I don't recall Cabot having an entry at all, let alone in default.

 

There are 3 default on my file, 2 are for the same debt (arrow global and MBNA CC) and another's under MKR I think for another )Virgin CC.

 

nothing I can recall for Cabot.

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I think that might be the point at which it was sold/assigned to Cabot !

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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Ah ok, however I have still received no notice of assignment, statements or anything from either HSBC or Cabot.

 

Kind regards

BT

 

I have sent the CCA request to Cabot along with an email effectively disputing the debt.

 

They have signed for it today, and I know it's 12+2 days to respond, however I am unsure when their response meets the 12+2 days - is it counted from today, or yesterday when I posted it?

 

If I receive nothing in that timescale what is my next action - letter that they have not responded to my reasonable request and to cease action until they rectify?

 

Thanks again all

 

BT

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  • 5 weeks later...

nearly a month on and I have had a reply - they have sent a letter saying they don't have the details.

 

What do I do now please?

 

Anything?

 

Send a "You are out of time" letter?

 

Really not sure.

 

Many thanks

 

BT

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sorry brokentechie.. I didn't get notice that you had posted.

 

TBH, if they say they don't have or are unable to retrieve from filing, a copy of the agreement, then there is little point in pushing for them to get off their btm and look for it.

 

For as long as they are in breach of their obligations to provide a copy on receipt of a legal request, then they are in default and in theory.. should not be able to take any action past that of sending letters requesting that you pay up or contact them.

 

Was this account entered into before or after 2007 ?

 

Reading back over your thread, it would appear you have not been receiving statutory documents either - eg, Notice of Assignment, Notice of Sums in Arrears and statements, is that correct ?

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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  • 8 months later...

Hello, sorry to resurrect an old thread - Cabot have come back to me with a copy of the original loan agreement, and also a statement from HSBC.

 

What is odd is that the original has gone from my credit file, and according to Experian the opening date of account is 2003, loan agreement is 2009 on the paperwork.

 

The account shows as closed on the statements as at 28/10/2010.

 

There are 3 more sheets with alleged payments on, however I know these aren't legit - they are not from HSBC and I know I have never had a switch card or setup a direct debit. There are no details as to who these payments were made to, and also last one is dated 6/12/2011 and then there are 3 entries for a debt sale transfer (debit)

 

What should I do now - I don't have the means to pay at all.

 

Please help

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Post up that agreement and statement and redact any personal info from it. Others will comment on the rest.

  • Confused 1

Any advice i give is my own and is based solely on personal experience. If in any doubt about a situation , please contact a certified legal representative or debt counsellor..

 

 

If my advice helps you, click the star icon at the bottom of my post and feel free to say thanks

:D

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I have replaced the statements and letter as you had left personal data on them.

 

Just having a look at them properly now.

 

BT, so on the statements you have posted up - the payment recorded are not payments you have made, is that what you are saying ?

 

Do you have a record of the last payment you made , when and how much ?

 

If you are disputing the payments and believe them to be "phantom" then you need to be able to prove the last payment you personally made. You would then have to dispute the statements provided with Cabot and ask them to provide the details of the payments - eg, who made them, from which bank account (as I notice these were DD payments).

 

It wouldn't be the first time that phantom payments have shown up on someone's statement in order to restart the statute barred clock.. however, those have generally been one or two payments. There seems to be an awful lot of payments on those statements ?

 

So, the DD payments made to the account are actually showing as payments from your bank account and are showing on your bank statements ?

 

Did you not cancel the original DD mandate with your bank ? If so, you need to establish who reinstated it ? If it was HSBC themselves, then I think you need to make a formal complaint - I am not certain if you would be able to get these reversed ?

 

Have you sent a Subject Access Request to HSBC ? If not, then you need to do this. As you really need to establish what has been going on - the diary events/communication log should identify telephone calls/letters to them and also have dates when the "alleged DN/NOA were sent to you.

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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I don't have a record, except my memory - if you look at the HSBC statements (these have been removed) I remember they took a reduced payment of £50 from May, Jun, Jul, Aug 2010, then took a DD payment of £245.49 in Sep 2010, which they subsequently reversed as I was left with no money (I had become a single parent thru death of partner) and I made 2 more payments of £50 in September and October 2010. The account was then closed with a final balance of £12660.97.

 

The strange payments that start in Dec 2010 supposedly paid by Switch card - HSBC moved to Visa in 2009 and I know I would have had a replacement card that was Visa in 2009 (same current account in use today) so I wouldn't have had a switch card.

 

The closing balance from HSBC - £12660.97, even minus the alleged payments made (to whom and by what means I don't know) total only £190 - £12660.97 - £190 = £12470.97, not £11045.93

 

Also what I find strange is that the HSBC entry (which was as of last Oct) showing up on my credit file, is no longer there. The Cabot entry only has details back (from Experian and Noddle) to Jan 2012 and although they are reporting the opening balance as £ 11,235, they are also reporting the account start date on both Experian and Noddle as 06/02/2003 - some 6 years before the loan was taken out!

 

I know I never had any agreement with Cabot to pay anything - I have had no NOA, Default Notice (that I can recall) however I may have made some payments to MCS - HSBC's inhouse DCA?

 

I still can't work out the amount discrepancy between closing balance and then the amounts recorded by Cabot in my credit file - They are making it appear as I have paid them.

 

I think looking back over my bank statements I can't dispute the payments I made as there is a DD for the amounts on the dates - so where do I go from here?

 

TIA

 

BT

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Yes - on further digging these are made to Metropolitan Collection Services.

I did cancel the DD mandate for the original loan, I have no recollection of doing anything with MCS tho - however the payments are showing on the day after the dates payments were made on the statement "Cabot 2" here.

 

citizenB said:
Have you sent a Subject access requesticon to HSBCicon ? If not, then you need to do this. As you really need to establish what has been going on - the diary events/communication log should identify telephone callsicon/letters to them and also have dates when the "alleged DN/NOA were sent to you.

 

No, but I am about to send it off today or tomorrow!

 

Is there anything else I can or should do?

 

TIA

 

BT

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Do you have a record of cancelling the Direct Debit ? I know from experience with HSBC, that they are very reluctant to cancel Direct Debits for their own products. If they have, continued to make a payment to this after you cancelled the Direct Debit, then I think this is a very serious action indeed and one that you would need to make a formal complaint to HSBC and then escalate to the Financial Ombudsman. I will ask others on the site team to look in and advise.

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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It's unlikely I have any record - my bank statements are available online, so that's how I know the payments were made.

 

As regards Cabot should I just sit tight and wait for them to contact me?

 

With the CCA do they have enough to start a claim?

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They will need a fully compliant CCA before they can do anything. Cabot rarely ever have that correct paperwork. They wont even have it at all or even start to look for it until you ask.

 

 

For a debt that size, the oc would have taken it to court long ago instead of selling it to cabot. The debt is 100% a lemon debt, you just have to find out how. My moneys on no compliant paperwork.

Any advice i give is my own and is based solely on personal experience. If in any doubt about a situation , please contact a certified legal representative or debt counsellor..

 

 

If my advice helps you, click the star icon at the bottom of my post and feel free to say thanks

:D

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If you sent the CCA request, they have 12+ 2 days to get that agreement in a fully compliant form. They will try and say they have 40 days, but they have just 12+2. No agreement, means no court action and means you dont have to pay a penny.

 

Meanwhile, get a full SAR to the OC. You really need to be doing your full homework on this one, as if Cabot can come up with the correct agreement, you still need to find out why a debt that large was sold on. Cabot rarely ever deal in legit debts and certainly not legit debts that large.

 

remember, for a debt that large, cabot will be very greedy and will try and go to court as fast as they legally can hoping you will not realise and fall prey to them.

Any advice i give is my own and is based solely on personal experience. If in any doubt about a situation , please contact a certified legal representative or debt counsellor..

 

 

If my advice helps you, click the star icon at the bottom of my post and feel free to say thanks

:D

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Did you look at the agreement I posted up?

This is what Cabot have sent me yesterday from my CCA request last March.

Is it legit?

 

They appear to have had this since Jan 2012

- that is the earliest recording of the debt on my credit file

- the original HSBC entry marked "Satisfied" is gone

- the default date on the Cabot Entry is 03/11/2010

 

Cabot have done nowt up to sending me a letter last year,

I CCA'd them (march 2015) and posted back here as it took from last March until yesterday for them to send it back to me.

In the meantime they sent me standard letters about going back to the OC etc.

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