Cabot and me... what next?

[Cabotkicker]

hello fellow Cabot sufferers! Please be gentle with me, and welcome me to your ranks!

 

I came upon this forum, after looking up Cabot Financial (Europe) in the tinterweb.

 

My story is probably a familiar one but here goes:

 

 

2 weeks ago, a letter lands from our friends Cabot, claiming they have obtained info that I am resident at address and wish me to call them to discuss 'your' account within 10 days..... this is the 'nice hello letter' I presume?

 

ignored it, of course....

 

 

Yesterday, letter 2 arrives, this time stating CCC ac was purchased by Cabot and has an outstanding balance of____. Please contact us without delay, blar de blar... and lots of nice chat that they want to work with me, and understand how easy it is to fall behind! Additional Info on rear of letter, states that this letter acts as notice of the assignment of your account to Cabot and as such should be kept.

 

Also states 'interest may be accruing on your account as per original agreement.

 

They have so far given name of CC company, amount due, but no date of default. Nothing else.

 

 

 

1) What will their next move be?

 

2) Can they charge interest, as per the original agreement? Are they possibly witholding added interest amount from the original CCC, just to soften the blow? OR will the CCC have fozen all that at some point? I can't imagine it, and the amount they quote only seems to include a few months late penalty charges.

 

3) With roughly 12 months to sit it out for the 6 year statute barred deadline, will I be able to carry on ignoring the letters? In my financial position, I can no way afford it (a few grand) plus I've only just got my life back in order after a lot of knock backs.

 

4) Are they able to obtain CCJs if they know for sure where I live i.e. land registry? What about advice on baliffs?

 

I've been reading the forum, when I've had time, and it's great, but what advice would you have for me? I realise that I don't want to acknowledge the debt at all, if possible, as it would reset the clock, but if pushed, I can send the agreement request letter. How far can it go before I resort to that, or just do it straight away, to get it over with and see what they have on me?

 

I thought it had been written off, which it had been, but these maggots have bought it. I dont want them to have a penny of my very hard earned wages:(

 

your advice would be very greatfully received, and I'm already feeling a bit better, after finding others with similar stories

[Seahorse]

Simply CCA'ing them won't start the clock ticking again, and it is important that you send this recorded without delay, making sure you put in nice big letters near the front, I do not acknowledge any debt whatsoever.

 

This will put the debt into dispute, so they won't be able to add any interest.

 

In any case, the method that they claim the debt is assigned, under the Law of Property Act, does not allow them to add interest at all. As it will be in dispute, they cannot take any other action either until the situation has been resolved one way or the other. And if it isn't resolved to your satisfaction, you do have recourse to the Financial Ombudsman.

 

I'd do this, and wait to see what, if anything, appears, and plan your strategy around that. If there WAS no properly executed agreement, there are various issues that need to be addressed, but we'll take that as and when.

 

They'll probably send your £1 back and tell you the CCA doesn't apply to them. We have reason to believe it does.

 

While you are in letter writing mode, you should SAR your original creditor. You don't just want your statements... they should provide ALL the information that they hold on you. All this will prove valuable in hopefully helping to reduce any debt down to something manageable at the very least.

 

Do keep us updated. These are tricky, twisty folks as you will have realised, and you'll need as much help as you can get.

[Cabotkicker]

crickey, thanks for a swift helpful reply; feeling better all the time, although a little daunting. All the crap I've been through in the last few years has really toughened my skin up though, as I've learnt the hard way that you get nowhere in life by being nice and honest with the likes of these people, and you HAVE to play the game, and not give in, if you can help it. It beggars belief what some so called 'professionals' get blatently away with; I've had dealings with Architects who you'd expect a high level of conduct from, but turn out to be totally self-regulated, and answer to no-one, write their own rules (i.e. contracts) totally to suit them, and they know every trick in the book.

 

Anyway, thats another story

 

from the reply, are you saying its best for me to fire off the SAR as soon as possible, in case they have something on me, and I end up in court, if I ignore the letters? It's quite scary to take the step of instigating any correspondance.. I'm sure we've all been there at some point.

 

Are they at this stage just trying it on, in the hope its the right person, or does letter 2 make you think they have more?

 

am I paranoid?

[Seahorse]

Just because you are paranoid doesn't mean they AREN'T out to get you.

 

Cabot are not know for forgetting you and going away. So the best thing to do is take the initiative, and make them play by YOUR rules.

 

And don't phone them. Put in your CCA request also, that all contact is to be by letter only.

 

CCA them - put the debt into dispute, and make them prove you owe what they say you owe.

 

SAR them. You have the right to know exactly what information they hold on you.

 

You could getthem all irate and try to send the letters to the owners of any alleged debt to Cabot Financial (UK) Limited. And if you did so, the CCA would likely be reponded to, albeit by Cabot Financial (Europe) Limited, by sending you back your £1 with a nice letter telling you they don't have to, but they will anyway, try to get you a copy of your original agreement.

 

A SAR to UK will just get you a letter telling you they don't hold any data about you. (Hmm.) So send the SAR to Cabot Financial (Europe) Limited.

[elizabeth1]

am I paranoid?

 

This company is enought to make anyone Paranoid really - but they are not the most honest company to deal with. They are likely to give you the runaround really. What Seahorse is saying is all good advice get the CCA and SAR requests in the post (make sure you do them recorded delivery too - so you have proof of postage)

 

http://www.consumeractiongroup.co.uk/forum/general-debt/20758-creditors-dcas-letter-templates.html = letter N for the CCA request (£1 fee)

 

 

http://www.consumeractiongroup.co.uk/forum/bank-templates-library/516-1-data-protection-act.html = SAR request (£10 fee) As seahorse says send this to Cabot Financial Europe Ltd - you can ask how this works later

 

You could get a copy of your Experian report and see who is writing what about you etc.. this costs £2 - and will show you an up to date record of who is writing to your Credit Reference Files etc.. This may help you a little in seeing exact dates of defaults, CCJ's and all the stuff that is generally contained in your credit reports.

 

Keep reading and updating your thread - Cabot is a "long story" really - the more you read the more you'll see of their tricks - don't worry we have the main of this stuff covered - I reckon they'll run out of sleeves soon enough

[Cabotkicker]

thanks, good to have help with this. CCA drafted out earlier today, soon to be sent out; will keep you posted!

[Cabotkicker]

yipeee, I got my £1 sent back!

 

how predictable! They say 'we do not accept this statuory fee.'

So Cabot, the law doesn't apply to you then:confused: I like the way it says underneath: Cabot Financial (Europe) LTD is licensed under the Consumer Credit Act... you couldn't make this up!

 

they do of course, confirm that the documentation has been requested, but may take some time to recover..... how much time do you need, Cabot, to fudge some documents then send them to me?

 

I can of course, phone them in the meantime (whilst I sit out the 12+ days.. AH, PEACE:D )

 

 

tick, tock, tick, tock.........

[Seahorse]

NOOOO!!!!! Don't phone them. At all. Ever.

[Cabotkicker]

NOOOO!!!!! Don't phone them. At all. Ever.

of course not but they'd just love me to!

 

so, seeing as they go through this 'refusing £1 CCA' thing, is it in dispute status, or should one return the returned fee, with another letter, and keep doing so until they accept it?

 

Obviously returning it to me, is a ploy to buy them more time to cobble summat together, without the 12+ time limit applying. BUT they can't do that if I've requested it; right?

[Seahorse]

I assume that your letter told them that you don't acknowledge any debt? If so, it is in dispute. If it didn, write to tell them that you now consider that the matter IS in dispute, and unless they comply with your original request within 12 working days, you consider them to be in default of your request. Also ask for a copy of their complaints procedure. And use it. See if they can actually abide by their own timescales.

 

When that fails to resolve the matter, you can then complain to the FOS, who can hit them with a £400 fine if they investigate.

 

They aren't trying to buy time. And they won't try to coble something together. That's what SOME credit card companies have been known to do. Maybe Cabot know that this sort of thing goes on, and maybe not. But I tend to tar them all with the same brush anyway.

 

They probably will come up with a document of some kind. But it's most likely to be just an unenforcable application form, as way back in time, the credit card companies thought they could save a few bob by not getting anyone to work out how they stand legaly with their so-called agreements. Hindsight is wonderful, innit?

[Cabotkicker]

well, those tenacious Caboteers are still sending me threatening letters, despite not sending any CCA response; asking me to phone them immediately, because they are about to pass me on to their next phase of collection!

 

yeah, right. Of course I'll give in and phone you, and agree to pay you all my money, even though theres no proof I owe anyone anything.

 

NOT

[elizabeth1]

well, those tenacious Caboteers are still sending me threatening letters, despite not sending any CCA response; asking me to phone them immediately, because they are about to pass me on to their next phase of collection!

 

yeah, right. Of course I'll give in and phone you, and agree to pay you all my money, even though theres no proof I owe anyone anything.

 

NOT

 

 

:D

[Cabotkicker]

quick question: should I have received a letter of assignment from the original creditor, as well as from Cabot? All I got was a Cabot letter.. does it matter?

[Seahorse]

You're lucky. I got a hello AND a goodbye letter. Both written by Cabot, though. "Passing off" springs to mind.

 

Apparently, the OC does not need to send to notice that they are selling the debt on, though.

[Cabotkicker]

well, I got what most people seem to get the other day: a photocopy of an application form

 

 

can't even be bothered to reply to them at the moment, clock is still ticking away... into the 30 day period now!

[Seahorse]

It's all you are likely to get, and Cabot will never admit that it is anything other than a properly executed agreement, containing all the prescribed terms as defined by the CCA 1974.

 

SO I think they need a lesson in court to show them the error of their ways. Not long now before that's MY next option.

 

BTW, can you scan the application form and let us have a squint to make sure it DOESN'T conform? Have you mentioned who the original creditor is?

[Cabotkicker]

hi seahorse!

 

I don't want to divulge too much on a public forum (I'm a bit paraniod that these parasites read these forums).

 

It says at very top: XXXX Gold Application

 

then under that, it says: Credit Agreement Regulated By the CCA 1974

 

this is a credit agreement between us and you, the person who's name appears in box 1 on this form.

 

at the end, it says: please sign and return in the freepost envelope provided- your application must be received by us before 1st aug 2001

 

it also has another signature on it, from the CCC

 

 

doesn't sound good to me

[Curlyben]

Sounds great to me. A classic application form that more than likely doesn't contain all the prescribed terms at all.

 

 

S61(1)(a) CCA provides that, for a regulated agreement to be properly executed, it must contain all the prescribed terms of the agreement and conform to regulations under s60(1) – see Q1.14.

 

Reg 6(1) provides that the terms specified in Sch 6 to the Agreements Regulations are ‘prescribed terms’ for the purposes of s61(1)(a) and s127(3) – see Q8.2.

 

8.2 What if prescribed terms are missing or incorrect?

 

s127(3) provides that the court may not make an enforcement order unless a document containing all the prescribed terms of the agreement was signed by the debtor – see Q1.21.

 

If therefore any of the prescribed terms is missing, or incorrect, the agreement is not enforceable against the debtor, and the court is precluded from making an enforcement order.

 

 

8.3 What are the prescribed terms?

 

The prescribed terms specified in Sch 6 are as follows:

 

* amount of credit – see Q8.

 

* credit limit – see Q8.5

* repayments – see Q8.9.

* rate of interest – see Q8.6

 

Sch 6 was not amended by the 2004 Regulations.

 

Could this be Cabot shooting themselves in the foot yet again

[Cabotkicker]

oh, I have just spotted something looking at this photocopy: out of the 11 sections (in boxes), section 4 has been blanked out, there is an empty space

 

it is obvious to me that something has been blanked out on purpose, because a small amount of text above has whitewashed as well.

 

Something has been stuck over it!!!!!!

 

I might now need to get in touch with the original CCC to find out what has been blanked out, or I'll never know

[Cabotkicker]

curlyben

 

it doesn't say anywhere on the photocopy about stuff like credit limit, amount of credit, repayment etc etc.

 

As it is an 'application form' as such, the details on income etc, are to be filled in, and returned, so it's not really an agreement, is it? although it says agreement in places on it!

[elizabeth1]

curlyben

 

it doesn't say anywhere on the photocopy about stuff like credit limit, amount of credit, repayment etc etc.

 

As it is an 'application form' as such, the details on income etc, are to be filled in, and returned, so it's not really an agreement, is it? although it says agreement in places on it!

 

Seems they trying again to pass off an application form as an executed agreement - seems they'll never learn doesn't it?

 

They'll have to work a bit harder than this won't they? Makes me laugh cause they keep trying to pull their old tricks - when are they going to realise it doesn't work anymore?

 

I think Ken & his mates need a nudge to wake up - they need to plot a new game. Shouldn't WW go in there and give them a poke "wakey wakey" before someone gets into serious troubles

[Curlyben]

All good this is a completely unenforceable application form then

[NailPost]

If this was ever to get to a court they would have to show the original document to the judge. Might make an interesting exercise to invite Cabot to take that very small step!

[Cabotkicker]

If this was ever to get to a court they would have to show the original document to the judge. Might make an interesting exercise to invite Cabot to take that very small step!

but it never seems to go that far, does it? These people seem to know just what they can get away with, and how far to push it. If it did go that far, we wouldn't be talking so much about it

 

What are we pushing for on here: someone who is brave enough to take that step?

 

 

I'd love to hand a judge the 'application form' photocopy they sent me, with the blanked out sections on it; love to hear the explanations on that one...

 

I'm going to relish pointing out a few things in my next correspondance.....

[andrew1]

welcome to the world of all things ' Cabot '