Seahorse v Cabot

[andrew1]

Actually, the link to the site on Reciprocity is worth taking a look at above. take note on the Questions and Answers, I think there's more in there that would help our cause and others too. If you have ten minutes I'd have a scroll through what this is all about. Its a club for the Finance Industry to get more info and nobody from the consumers side are represented. Maybe CAG could apply! Take a read.

[tbern123]

Just thought you'd like to see what sort of things the Debt Buyers outfit get up to: Atricle in this Months edition of Credit Today Magazine( thanks CT):

News

 

Quote:

 

"Debt buyers to access ‘white data’ - 23/03/2007

 

Debt buyers are a step away from gaining access to ‘white data’ or credit reference data on debt portfolios.

 

SCOR, the steering committee on reciprocity, has sent the new wording of the reciprocity principles to industry trade associations for ratification. If the principles are signed off, credit reference providers will be able to give their debt buyer clients access to full data on individual debtors. Previously they would only have had access to default data because that’s all they could provide themselves.

 

Roger Lucas, of the Debt Buyers and Sellers Group, said: "When we take assignment of debts we stand in the place of the original creditor so it’s only right we should have the same obligations and rights."

 

Meanwhile, Internet bank Egg has joined the Debt Buyers and Sellers Group. Egg head of debt sale Chris Hague said the group is now building more of a balance between sellers and buyers. "The industry is still maturing in certain respects and having a lobby group like that is very helpful as a single point of contact."

 

 

Just love what Roger Lucas had to say !

 

Here is the link

Credit Today online

[andrew1]

Here is the link

Credit Today online

 

Hey you! trying to steal the march on me eh? you vanish off the scene for weeks and then come back and pinch my post ! I did this - 'spose you're trying to pinch the rep points - Welcome back tbern Interesting though isn't it?

 

I think this is worth reading between the lines of the actual SCOR webpage because they go into detail over the principle of the so called ' reciprocity' angle. It certainly is a boys club for the lending industry and I can't see what possible interest there is for the consumers as they have no voice at all. Whilst they may be pushing for this white data - who the heck is saying "No you can't have it"? From reviewing this page briefly I can't see many. What I did see made me think they are beginning to shoot themselves extremely close to their toes. As you've had quite an in depth dig into some of these areas I'd be interested in your own views on this.

[tbern123]

lol, I love me rep points lol

 

I have been on and off here.... Keeping an eye on events

 

I am working on a response to Hodsons via Cabot. I have also decided to have a change of tack in relation to the way I am going to deal with them. I have the day off work, so I have time to put things together.

 

Great find Andrew1, I will incorporate that into my response.

[elizabeth1]

Here is the link

Credit Today online

 

 

Me notices a "Discussion Forum" in there - might be useful for asking questions about some of our issues?? we could put together a question or two and ask about the "rights & not the duties" stuff ?? See what hits the fans?? and the Property Law stuff that we've been told?

 

Just a thought !!! Needs to be done "tactfully" so we get answers without ruffling feathers or naming companies involved etc..? Tbern?? Andrew??

[andrew1]

Just remember, The Debt Buyers Association is a self made club by the industry. You can only read what they do as their own propaganda - and the same goes for this SCOR lot - they are club of the banks and money lenders. What they say carries little by way of law.

[andrew1]

Me notices a "Discussion Forum" in there - might be useful for asking questions about some of our issues?? we could put together a question or two and ask about the "rights & not the duties" stuff ?? See what hits the fans?? and the Property Law stuff that we've been told?

 

Just a thought !!! Needs to be done "tactfully" so we get answers without ruffling feathers or naming companies involved etc..? Tbern?? Andrew??

 

Credit Today are a magazine for the credit Industry. There is a forum which subscribers to the mag can go onto but you have to have paid up on subscription.

[elizabeth1]

Credit Today are a magazine for the credit Industry. There is a forum which subscribers to the mag can go onto but you have to have paid up on subscription.

 

 

Mmm!! OK it was just a thought

[andrew1]

Mmm!! OK it was just a thought

 

...and a nice one it was too ! ;-)

[tifo]

Will Cabot still argue that they are not the new creditor

 

Yes, definitely!

 

They sent me the standard 'we are not the creditor since it was only assigned to us so we are not obliged under CCA 1974 blah blah blah ...." only last week.

 

Last paragraph said "call us to make payment".

 

This was after my CCA 1974 s.78 request and nothing received to date.

 

Just thinking, if they state the Law of Property 1925 s.136/s.139 and that they are not the creditor under CCA 1974, should i then ask them under what law they are processing my data and how they bought it as 'property' because it always belongs to me and cannot be sold?

[NailPost]

Actually anyone can log into the forum and see what they've got to say. Makes for some interesting reading! I haven't tried to register though.

[Rhia]

Just thinking, if they state the Law of Property 1925 s.136/s.139 and that they are not the creditor under CCA 1974, should i then ask them under what law they are processing my data and how they bought it as 'property' because it always belongs to me and cannot be sold?

This is an interesting point as if they claim it is under the Law of Property 1925 then surely they have only bought a lump sum of debt? All the other stuff such as personal data should therefore be of no interest to them. They have a very confused approach quoting a bit of this act to support them here and a bit of another to support their claims elsewhere.

[elizabeth1]

This is an interesting point as if they claim it is under the Law of Property 1925 then surely they have only bought a lump sum of debt? All the other stuff such as personal data should therefore be of no interest to them. They have a very confused approach quoting a bit of this act to support them here and a bit of another to support their claims elsewhere.

 

 

Seems like they be "floundering" a little?? They haven't employed WW because what they are doing is right?? WW is there to try put us off and minimise the issues?? :grin: :grin:

[pmhcfc]

This is an interesting point as if they claim it is under the Law of Property 1925 then surely they have only bought a lump sum of debt? All the other stuff such as personal data should therefore be of no interest to them. They have a very confused approach quoting a bit of this act to support them here and a bit of another to support their claims elsewhere.

 

I wonder who in Cabot thought of this LoP crud...Unless it was Hodson's idea...I think wehave them nailed on the LoP anyway, don't we Rhia...?

[Rhia]

:D

[tifo]

seems to be only Cabot quoting the LoP 1925. I have not had it from any other 'creditor'.

 

anyway, sent them my letter stating i don't recognise what they say about LoP 1925 because i signed the agreement with the bank under the CCA 1974 and not any other act.

 

also asked them how they 'bought' my personal details as 'property' if they are not the 'creditor'.

[elizabeth1]

seems to be only Cabot quoting the LoP 1925. I have not had it from any other 'creditor'.

 

anyway, sent them my letter stating i don't recognise what they say about LoP 1925 because i signed the agreement with the bank under the CCA 1974 and not any other act.

 

also asked them how they 'bought' my personal details as 'property' if they are not the 'creditor'.

 

 

Seems they are getting really confused??

[Seahorse]

Just been tipped off about this one...

 

Google Fight : Make a fight with googleFight

 

Try entering Cabot Financial and Consumer Action Group, and see who wins.

[Seahorse]

And guess who kicks who's ass when you enter Ken Maynard v Seahorse???

[elizabeth1]

And guess who kicks who's ass when you enter Ken Maynard v Seahorse???

 

 

AHH!!! BUT if your name is Lizzy - you can win with loads of points!!!

[Seahorse]

Shall we email and get some of our friends booked on this seminar?

 

 

Keeping you and your company under the radar

 

21-02-2007

As the title of this letter suggests it is becoming increasingly difficult for companies to stay under and certainly off the radar for compliance and legislation issues affecting our industry and the rules and regulations companies must now abide by.

That is why the CSA have compiled a dedicated compliance seminar, looking at “An introduction to compliance, with laws and guidance by industry regulators for the debt servicing industry”.

The purpose of the seminar is to provide YOU with the need to know information on compliance with the most up-to-date rules and regulations. With the announcement of the Financial Ombudsman Service (FOS) affecting the debt servicing market from April 07, this is a must attend seminar. Where you can have your questions answered and learn how YOU and YOUR business will be affected by these new changes.

[Seahorse]

Or should I just send them this, where I've been busy with a marker pen and highlighter???

CSA_CoP_HiLites.pdf

[pmhcfc]

Or should I just send them this, where I've been busy with a marker pen and highlighter???

 

Nice One SH- Hope you had plenty of ink in that High-lighter...Got to at that dbsg article- hope Ken didn't write that. What would he and Cabot know about 'flying under the radar'...If fact- which DCA doesn't 'star' on this site??

[make them aktiv runners]

edit

[Seahorse]

I have just read your thread from begining to end. What a saga. It seems to me from reading numerous threads that everyone is getting into huge amounts of correspondence with these companies when it is much easier to make the company do the work.

 

And where's the fun in that?

 

Also, you'll have noticed that there is a vast amount of potential ammunition being generated for future court action. They do like to incriminate themselves, for some strange reason.