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Old First Direct accounts - now being contacted by Cabot Financial

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Just filling out the required information on the PAP form.

 

When I tick box D to dispute the debt,

as well as the "debt purchaser has yet to provide any or all of the required documentation" line,

should I also include in my dispute the fact that the overdraft and credit card have been lumped together into one account

(or something worded a little smarter than that!)?

 

Also, all the letters from Cabot say that the current creditor is Marlin Europe Ltd. As I understand, they are the same lot, so should I just address the CCA to Cabot?

Edited by dx100uk
merge

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you send the CCA to whomever Mortimer state as their client.

 

and no you dontt ip them off about the merged loan syndrome yet..

 

did you ever get an sar running to first direct?

if not do so


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Mortimer say Marlin Group ("Cabot"), so I'm going to just address it to Cabot.

 

Point taken about the merged loan, will keep that as a bit of ammo.

 

About the SAR, no I didn't. Not sure why as one of the old posts mentioned doing it for all the accounts; must have missed that one completely. Will get that off tomorrow.

 

Thanks

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what you get in the SAR you keep to yourself till its time to use it!!


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Just an update.......no SAR documents from First Direct yet, but if the deadline passes, I will file with the ICO. However, I have now received a letter from Cabot in response to my PAP. It says:

 

"We have been unable to get the information requested form the original lender. If this information ever becomes available to us we will complete your request, but until we are able to supply this your account is unenforceable."

 

They kept my £1 PO. Is that it then? Should I expect to see this sold on to another DCA soon and have to go through the entire letter-receiving process again with them? Or should I expect some "documents" to magically turn up at some point in the future?!

 

Thanks

AM

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It may be sold on, it may not. You called cabots bluff. They NEVER attempt to even bother to see if the paperwork exists until you request it. No DCA does.

 

If they cant get it from the lender then its done with. Breath easy and relax. You won .

 

Remember, cabot do not chase or enforce legit debts. They only go after debts that have something fundamentally wrong with 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..

 

 

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Ok thanks!

 

Can I just ask, why do they only go after debts with something wrong with them? That doesn't sound like good business practice to me! Is it because they are sold SO cheap to them that it has a good risk versus reward because they are likely to scare many people into paying?

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Because it involves now ork, no realy monetary outlay from them, and they know its pretty easy to get a judgement by default or an alleged debtor paying them because they dont know their rights and are scared.

 

And as you said, they may buy a 1k debt for perhaps £100 or sometimes even less, then go full pelt into chasing for the full 1k. if only 1% of their portfolio buckled and paid them, then theyve made a huge profit.


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

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Makes sense. Thanks!

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Also remember that a debt can be well statute barred, and they still try and say the debtor is fully liable for the debt, and continue hounding them. They did that last year when they bought a bulk of bad debts. Some DCA's even lie and say a recent payment was made, so its not statute barred. Then when challenged on it, they smile and claim it was an admin error.


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

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i just received back a 1-inch think pile of papers from FD in response to my SAR!

Today was the exact day by which they were required to comply!

 

Wonder if someone could shed some light on something?...…

..both of the CCAs are present (for loan and for the credit card/OD),

 

Cabot have stated that they were unable to obtain this from the original creditor and have so easily "backed away" from this as I am sure they have this information also.

For the moment, I am ignoring any other underlying regulatory issues such as the merged loan as I would have thought a DCA would still attempt to try it on, hoping that someone would not understand about this and be scared into paying. it makes me think that there is another more obvious reason that they are leaving this alone.

 

Scanning through what must literally be about 400 pages of records, I came across the account statements for both the accounts; both show no payments since 2009.

Quite clearly I was being cash-cowed all the years I was making token payments as none of these have been logged against the account.

 

according to what FD have on record for me (which I would imagine would be the same information that Cabot now have on me), this should be SB now?

Is my logic correct?

If so, then where have they come up with the payments that I mentioned in post #18??!

 

Are they literally made up?

 

Thanks again

AM

Edited by dx100uk
spacing

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When was the last date you paid anything towards these accounts?

 

SIX years from that date is when the clock starts and it becomes SB, plus a few weeks to err on the side of caution.

 

IF, you didn't pay anything between 2009 and 2015 then it should be SB, so it all depends on when you started making payments again?


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I was paying token payments from 2009 - 2016, but these do not seem to be recorded anywhere on the statements I have received. So according to the statements sent from FD, I haven't paid anything for nearly 10 years. Surely all payments on the account, including token payments would have been recorded, and if not recorded then, for all intents and purposes it is SB? Or do I have this completely wrong (quite likely!!)?

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Who were you paying these token payments to?

 

I would err on the side of caution here, and not mention SB at all, as if they did dig around then they would find it isn't barred until 2022.


Who ever heard of someone getting a job at the Jobcentre? The unemployed are sent there as penance for their sins, not to help them find work!

HOW DO I START A NEW THREAD?

 

 

 

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I think I paid them to Metropolitan.

 

Don't worry, I wasn't planning on pursuing anything as Cabot have already come back and said that they couldn't get the information from the OC (post #30). I was just making enquiries for the future, in case this was sold on and the process started again. If it were SB then in future I could quickly put an end to any further communication from any other DCAs.

 

I know renegadeimp said it's done with; I had put it out of my mind until I received the SAR paperwork today, which brought it all back up again! I just can't help wondering what exactly it is that has made them back off. Looking through the paperwork again, there is no Default Notice, so perhaps it's that, as well as some further underlying, more complex regulatory issues with it?!

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have you all the statements for every type of borrowing you had from 1st direct the sar?

in post 18 you said you had the statements showing the £1 payments , probably correct if those were made to cabot?

did you ever change whom you paid the £1 too?

 

or did metropolitan [in-house DCA for 1st direct [HSBC]] forward them on to cabot?


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Yes, I have the statements for both of the accounts from FD.

 

I hadn't changed who I paid the £1 to.....was always Metropolitan. I guess they could have forwarded the payments on but I don't know when Cabot bought this from FD so hard to know.

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sale should be detailed in the comms/account log.

if hsbc in whatever clothes weer handling the £1 payments

then they should hold a record of forwarding them as they passed thru their hands.

 

the only issue ive seen before

and I think this was HSBC too was that as they were all later castigated for running fake DCA's that were never registered or something

they were told I think to destroy many records regarding them.


PLEASE DONT HIT QUOTE IF THE LAST POST IS THE ONE YOU ARE REPLYING TOO.

MAKES A THREAD TWICE AS LONG TO SCROLL THROUGH!

 

WE CAN'T GIVE ADVICE BY PM - IF YOU SEND ME A LINK TO YOUR THREAD - I WILL BE HAPPY TO OFFER HELP THERE

1. Single Premium PPI Q&A Read Here

2. Reclaim mis-sold PPI Read Here

3. Reclaim Bank Account, Loan & Credit Card Charges Read Here

4. The CAG Interest Tutorial Read Here

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Trawled through all the log notes etc. again. There is nothing that mentions anything about forwarding payments to anyone, or anything that mentions a sale. The only thing that COULD be related to it is something that says that in 2014 there was a "transfer to another account". But that doesn't provide much in the way of detail!!

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