Cabot have bought my debts

[Dibsthefrenchie]

I have a couple of debts that cabot have bought, they sent a copy of the assignment and I have been making payments, but have I made a mistake in doing so? is it worth sending a CCA or is that no longer relevant?

[djdave]

Mistake? Or were you misled and pressured into it?

 

Either way, it's not too late to fight back. It's definately worth sending Cabot a CCA along with the £1 fee, although whether they accept it is an interesting question.

 

Make sure you include "I do not acknowledge any debt" in you letter, and make it clear that the £1 is in respect of the statutory fee, not to be set aside any alleged debt.

 

You'll probably get your £1 back along with a letter asking for your patience while they investigate, notwithstanding the Act states they have 12 working days before they default, then are commiting an offence after a further 30.

 

If you don't mind me being nosy, what was/were the original alleged debt(s)?

[Dibsthefrenchie]

The alleged debts were Citibank credit card and a Wallis store card.Thanks for your reply djdave and I will go ahead and CCa them, although i'm not to optimistic!

[pmhcfc]

The alleged debts were Citibank credit card and a Wallis store card.Thanks for your reply djdave and I will go ahead and CCa them, although i'm not to optimistic!

 

Not optimistic about what? The CCA request is a legal request which they have to adhere to. You are quite within your rights to stop paying them once they have gone over the 12 working days.

 

Remember to post recorded delivery and DO NOT SIGN the letter with your proper signature.

 

Have a good read of the cabot forum and you will learn so much.

[djdave]

There's nothing to be pessimistic about.

 

Basically you'll get one of two outcomes: No agreement (or an unenforcable one) - good news, as Cabot have bought an unenforcable debt.

 

OR, a perfectly valid agreement. Still not necessarily cause for panic, as a DCA can only make you pay what you can genuinely afford, even if that's only £1 per month.

 

Send the request, then let us know what you get back. As others have said, have a browse of the forum and you'll realise that just because Cabot have shiny letterheads they're nothing special. And certainly not above the law, no matter what they like to think.

[Dibsthefrenchie]

My lack of optimism is due to having made payments to them and therefore it would appear that I have foolishly already acknowledged the debts, including the very large amount of interest that was applied before I was even aware that the debts had been sold.I have printed out the CCA's and will send recorded post tomorrow, thank you for reminding me not to sign them, I look forward to their reply.Thank you both for replies and you're right, I have nothing to lose whatever the outcome and so a positive approach from now on.

[pmhcfc]

My lack of optimism is due to having made payments to them and therefore it would appear that I have foolishly already acknowledged the debts, including the very large amount of interest that was applied before I was even aware that the debts had been sold..

 

Doesn't matter what you have paid before now - if they can't prove they have the right to collect the said monies, then you could, in effect, claim back all that you have paid.

 

A SAR should follow (if needed). This will give you the info you'll need re where all the interest came from. Don't worry about a thing, there are many here to help you

[djdave]

If you gave the school bully your lunch money, does that mean he had a legal right to it?

 

[Cabotkicker]

if they return your £1 fee, send it back, with a blunt letter, quoting the law again, and say that you will keep returning it until they accept what you are asking for, and the law under which you are asking...

 

it works because they try and pull a fast one, and think we dont know any better

[Seahorse]

If the interest was applied by Cabot rather than the original creditor, they'd be hard pushed to show where they have any authority to do so. It's one of Sarah's bugbears... charging interest on the full amount, yet they only paid around 10% of the face value.

 

I think she's along the right lines with the "unjust enrichment" arguement.

[Dibsthefrenchie]

Hi Seahorse, Cabot applied interest to the account from when they first purchased it, up until a repayment plan was put in place.

I will see how the request for CCA's goes and then post a thread on how to continue with challenging their authority to claim interest, or should I be challenging that now and with who?

[Seahorse]

I'd wait out the 12 days from when they receive your CCA request. No way will they have an agreenent in place to let you have within that time, even if one is around somewhere. But after that, just politely remind them that they are in default of your request, and you are stopping all payments until they can prove they have the authority to collect on this alleged debt.

[Dibsthefrenchie]

Okay, thanks for that Seahorse, will follow your advice.

[Dibsthefrenchie]

It's finally happened, cabot have admitted that the debts are unenforceable and they are now statute barred.

A huge thank you to all that helped me

[dx100uk]

blimey I should think so its 6yrs since your last post anyhow!

 

dx