please help Cabot financial/hsbc

[emilybarbiedoll]

Here goes.........the story starts with HSBC bank.......i had a loan with them over 6yrs ago and defaulted in 1999....the debt was then past onto Cabot financial.....I have been paying cabot since 1999, but have looked at old correspdance to find one month they enforced £600 interest on my account......

 

What do I do next to obtain my statements? I have written to HSBC who say the account was bought my Cabot finanical who say they do not have copies of any statements!!!! please help Emily

[Rhia]

Emily send the Subject Access Request (SAR) to the bank and the Consumer Credit Act request to Cabot. You will need to send £10 for the SAR and £1 for the CCA. The CCA is perhaps the most important as it is such a long time since Cabot "bought" this debt. Also when they buy a debt they cannot add charges so that is an unlawful activity.

Ypou need to find out how much of the debt was penalty charges and claim it back plus interest. However you also need to see a full, true, legible copy of the original credit agreement (and not a copy of the application form) signed by yourself and the bank/credit card company.

You should also have been asked for your agreement by the DCA (CaboT) to process your data and they should provide you witha deed of assignment (saying they have bought your debt) and copies of statements. Without any of these they cannot claim this debt and you can sue them for return of all your payments as well as the interest and the penalty charges.

You will find copies of these letters in the Templates section. Hope this helps.

[mileroad]

i have just post a thread and noticed yours.

cabot finance are the people phoning me. at first they said they were working for halifax but after some enquiries i found they had bought the debt from halifax. i don,t know how much for. the original debt was for £1900 and they offered me a settlement figure of £1200 so i expect they bought the debt for a lot less then original sum.

[Rhia]

Search the Cabot threads on here. It is very interesting. There is a growing dedicated group of us challenging them. Follow advice given to Emily as well. It's difficult to find out how much these companies pay for these debts but it has been said as little as 10 pence in the £. In otherwords they may have bought your debt for £120 or so. Let them prove they have a claim on it.

[emilybarbiedoll]

Thanks for your reply. One other thing I can't seem to find any template letters to send to Cabot regarding CCA? You couldn't possibly send me a link? Cheers Emily

[Whosthedaddy]

One question that i need to ask did you miss any payments.

 

The reason I ask this is these companies can apply interest all the time no regular payments are being made. All the time payments are being made Companies are allowed to accrew the interest in the background on a daily basis but not apply it. The reason for this is it is an "incentive" to keep you paying. interest should not be charged over the amount of 12% by a third party creditor (recommendation by the OFT (Office of Fair Trading)) .

 

 

However I understand that you was paying the debt since 1999. However if you missed one month they are within their rights to apply this interest.

This arguement can be resolved quite simply as I did when it happened to me I called them up and put my case forward and they reduced the interest for me.

 

It is up to what way you wish to go about this but you have already admitted you owe the monies to them by paying since 1999. I did it like this and it worked.

[itsamomentintime]

One question that i need to ask did you miss any payments.

 

The reason I ask this is these companies can apply interest all the time no regular payments are being made. All the time payments are being made Companies are allowed to accrew the interest in the background on a daily basis but not apply it. The reason for this is it is an "incentive" to keep you paying. interest should not be charged over the amount of 12% by a third party creditor (recommendation by the OFT (Office of Fair Trading)) .

 

 

However I understand that you was paying the debt since 1999. However if you missed one month they are within their rights to apply this interest.

This arguement can be resolved quite simply as I did when it happened to me I called them up and put my case forward and they reduced the interest for me.

 

It is up to what way you wish to go about this but you have already admitted you owe the monies to them by paying since 1999. I did it like this and it worked.

 

troll-tastic

[tbern123]

One question that i need to ask did you miss any payments.

 

The reason I ask this is these companies can apply interest all the time no regular payments are being made. All the time payments are being made Companies are allowed to accrew the interest in the background on a daily basis but not apply it. The reason for this is it is an "incentive" to keep you paying. interest should not be charged over the amount of 12% by a third party creditor (recommendation by the OFT (Office of Fair Trading)) .

 

I would have to query this in relation to Cabot as they repeatedly state that they are not the creditor, be it third party or otherwise...

 

Please follow Rhia's advice, send them a SAR and a CCA request. You are legally entitled to this information.

[Seahorse]

Probably unwise to feed the troll, but he/she is missing the point... Emily hasn't posted on this thread since January.

 

 

Who's the Daddy NOW ye fecker????

 

[louiboy]

Who's that trip, trapping on the bridge?

Cabot? Hmmm!

 

They talk to much and have nothing to say.

[tbern123]

Probably unwise to feed the troll, but he/she is missing the point... Emily hasn't posted on this thread since January.

 

 

Who's the Daddy NOW ye fecker????

 

 

lol I didn't even notice... Just couldn't believe what was said...

[Whosthedaddy]

Im sorry maybe you have missed the point,

 

SAR would only be relevant to you if disputing the whole debt, and from what i can tell that is your answer every tiny little query in this site. I joined this site to try and help all you ungrateful (and i quote) "feckers"

 

To be honest If this is the response i get so be it but you all know you spent the money and you all know you owe the money for crying out loud no one put a gun to your head and made you sign a contract.

 

In some cases yes people have been treated unfairly but come on have you all really been treated unfairly.

 

And for your information I do NOT work for Cabot but I do have many years of Financial Law experience. Your loss, I was gonna try and help you instead of SAR SAR SAR SAR SAR as every little answer.

 

Have fun

[itsamomentintime]

help us with what exactly?

[tbern123]

I wasn't going to respond, but I feel it is my duty as an ungrateful fecker with a great deal of personal knowledge and experience of Cabot, to respond.

 

Im sorry maybe you have missed the point,

 

S.A.R - (Subject Access Request) would only be relevant to you if disputing the whole debt, and from what i can tell that is your answer every tiny little query in this site. I joined this site to try and help all you ungrateful (and i quote) "feckers"

 

If you really want to help, I would advise that you first read what the original poster has actually said.

 

What do I do next to obtain my statements? I have written to HSBC who say the account was bought my Cabot finanical who say they do not have copies of any statements!!!! please help Emily

 

This particular person has made requests to both the Original Creditor and to Cabot for information relating to her account. Both have refused. As a person with

I do have many years of Financial Law experience.

 

I am sure you will understand and appreciate that she has the legal right to this information. A SAR (a Subject Access Request) affords her that right to this information and to all other personal data held by the Data Controller.

 

On this basis, recommending that she made a SAR request is good advice that she should follow.

 

To be honest If this is the response i get so be it but you all know you spent the money and you all know you owe the money for crying out loud no one put a gun to your head and made you sign a contract. In some cases yes people have been treated unfairly but come on have you all really been treated unfairly.

 

The above statement clearly demonstrates the contempt you hold for the people that you are reportedly willing to help. I am sure you will appreciate my confusion in relation to this contradiction. I would strongly urge you to take the time to read more of these threads. This will help you understand that in fact a great number of people have been unfairly treated by Cabot.

 

Please take a few moments to read my own thread, which documents my struggle with Cabot

http://www.consumeractiongroup.co.uk/forum/cabot/36665-cabot-again-urgent-help.html

 

 

 

And for your information I do NOT work for Cabot but I do have many years of Financial Law experience. Your loss, I was gonna try and help you instead of SAR SAR SAR SAR SAR as every little answer.

 

Have fun

 

I do and will have fun. If we want to beat our chests, I also have many years of Financial experiance. I have been employed within the finance industry for 11 years now. I have worked within Retail, Commercial, Corporate and International Banking. As for your comments in relation to SAR SAR SAR SAR, please read the above.

[itsamomentintime]

so there!!!!

[andrew1]

You wouldn't expect anything less from the Cabot master

- Long live the Cabot Fan Club ( and the S.A.R - (Subject Access Request)!) well said tbern.

[Conniff]

no one put a gun to your head and made you sign a contract.

 

That's the whole point - what contract, there is no contract - they have never furnished one.

[chocolate fairy]

a bit of advice please!!

 

am new to this site so hello to all!

 

can anyone advise if a collection agency can collect on a debt already having been handled by another?

heres my tale.

 

a lovely company called jbdr in sept 07 harrassed me to put it mildly , for an alleged credit card debt.

this went on till in dec 07 i asked for a signed copy of the original agreement plus statement of account.

no reply was received within the legal time limits.

then in april this year cabot contacted me for payment of this alleged debt originally with jbdr.

i wrote to them explaining jbdr had the original debt and did not respond within the time limit.also i offered to forward proof of all correspondence with jbdr including copies of proof of signatures at jbdr shoeing they had received everything.

 

now, at the beginning of july cabot write and tell me they are the legal owner of this alleged debt, are they? and did cabot have the legal right to sell this on to cabot?

any ideas?

[Conniff]

It's not up to you CF to furnish proof that you have paid, it is up to them to do the obverse.

 

There is only one letter you need to write and that is to ask them to prove you owe. Don't spend £10 on an SAR or £1 on a CCA, they cannot just say you owe me pay, they have to give proof.

[chocolate fairy]

thanks for a quick reply conniff!

 

will await their next letter -- am sure will send one soon!

[Mizzy]

One question that i need to ask did you miss any payments.

 

The reason I ask this is these companies can apply interest all the time no regular payments are being made. All the time payments are being made Companies are allowed to accrew the interest in the background on a daily basis but not apply it. The reason for this is it is an "incentive" to keep you paying. interest should not be charged over the amount of 12% by a third party creditor (recommendation by the OFT (Office of Fair Trading)) .

 

 

However I understand that you was paying the debt since 1999. However if you missed one month they are within their rights to apply this interest.

This arguement can be resolved quite simply as I did when it happened to me I called them up and put my case forward and they reduced the interest for me.

 

It is up to what way you wish to go about this but you have already admitted you owe the monies to them by paying since 1999. I did it like this and it worked.

 

This sounds like someone who works for Cabot et.al.

[Ron29]

Cabot bought my credit card debt from Opus Cards, without my knowledge and without documentation. I requested that they continue the same arrangement that I had with Opus, i.e. to freeze the interest and pemalty payments, and accept an affordable monthly amount from me.

They accepted my monthly payment, but I have minimal information from them regarding account management and it seems that further interest is accruing.

Is it legal for them simply to take over this debt without my agreement and be able to change agreed conditions unilaterally?

[andrew1]

Cabot bought my credit card debt from Opus Cards, without my knowledge and without documentation. I requested that they continue the same arrangement that I had with Opus, i.e. to freeze the interest and pemalty payments, and accept an affordable monthly amount from me.

They accepted my monthly payment, but I have minimal information from them regarding account management and it seems that further interest is accruing.

Is it legal for them simply to take over this debt without my agreement and be able to change agreed conditions unilaterally?

 

You should have received the goodbye/hallo letters from both Cabot (who usually send them both out under some kind of arrangement with the card holder) and from the creditor. These are known as the Notice of Assignment. If you didn't they are in trouble.

 

Sadly can't spend much time on Cabot these days as I have bigger fish to fry and have already spent far too much of my life on these dregs. There are plenty on here who will guide you.

 

Good luck.

 

The Cabot Fan Club