HSBC/CABOT Help please

[rh999]

hi there

 

I could do with some help on this issue, as it is quite a difficult situation.

 

I had an account with HSBC up until around 1999, where i had some financial problems at that time. My account at the time got converted into a loan (of which the majority was charges).

This then got passed to Metropolitan Collection services in 2001, and i agreed to pay them a monthly payment to reduce the debt.

 

As far as i was concerned (i set up a standing order, which was paid as per their instructions) this was paid on time every month, up to 2004, where i believed the debt had been cleared.

 

A few months ago i received a letter from Cabot financial stating there was an amount still outstsanding on the debt.

 

I disputed the debt at the time, and they said they would raise this with HSBC. i have this week received a printout from Cabot showing the payments i made.

 

Which shows there is an outstanding balance at the end. The payments tie up with my records from my bank account statements (well back to 2002 anyway).

 

My problem is i have no correspondence from HSBC or MCS from the time, which may indicate a discrepency in the amount, can i SAR this from HSBC or MCS?

 

Now to the questions;

1. As this debt was made up from charges can i try and get a refund (even though the charges were placed on the account over 6 years ago?

2. Should i CCA them? i cannot remember signing a credit agreement for the loan at the time, as it was transferred from the bank account. the credit agreement number quoted in the letter is ny old bank account number from HSBC..

3. This debt shows on my credit file (have seenn it) as a default. presume i can get removed under banking code, if i dispute it?

 

Thanks in advance for your help.

[rory32]

1. As this debt was made up from charges can i try and get a refund (even though the charges were placed on the account over 6 years ago?

 

Yes the limitation period runs from 6 years from when you were first aware that there were unlawful charges on the account. Not 6 years from when the charges were applied.

 

2. Should i CCA them? i cannot remember signing a credit agreement for the loan at the time, as it was transferred from the bank account. the credit agreement number quoted in the letter is ny old bank account number from HSBC..

I would CCA Cabot as they are a particularly unpleasant DCA and this should slow them down. Send it recorded delivery with a £1 crossed postal order and do not sign the letter or add an electronic signature.

 

3. This debt shows on my credit file (have seenn it) as a default. presume i can get removed under banking code, if i dispute it?

You would think so but they are often reluctant to remove defaults. You may have to go through the FOS or go to court to get the default removed.

[rory32]

Oh just a word of warning, NEVER speak to Cabot on the phone - it is a complete waste of time and they are only interested in one thing, payment.

[rh999]

thanks Rory.

 

why should i not sign the letter?

[rory32]

It is very easy to scan and paste signatures onto documents.

[rh999]

they wouldnt do that would they?

i have come across a few dodgy DCA's but never heard that one!

 

thanks again.

 

will update once i CCA them

[rory32]

they wouldnt do that would they?

 

They may not but there have been instances on CAG where others have alledgedly done just that. Better to be safe than sorry.

[freakyleaky]

Just to make sure I don't give rise to any legal action against the site I won't mention any names.

 

There is a dca that I have had dealings with and I consider them to be the absolute lowest form of life. They will try any underhand methods they can think of to extract more money from you.

 

if there is one thing I vow to achieve before I die it is to have this company and it's directors banned from trading. I am currently involved with a group of victims of this particular company in trying to bring legal action against them.

 

Never under estimate the lengths these people will go to in order to increase their profit margin! Forged signatures are just one minor example of what they are capable of!

 

These are my own personal views and none of the comments on this post are endorsed by the Consumer Action Group!

[rh999]

thanks for your hlp guys.

 

i will post an update if i have one.

[rh999]

hi there

 

i could do with some help with developments on this.

 

sinc eposting, i have CCA'd Cabot and sent SAR to HSBC on the charges.

 

clocks ticking on the SAR to HSBC, bit the 12 days on CCA to cabot ran out today.

 

since sending the CCA to cabot i have had a letter from them as follows;

 

thanks for your letter dated xxxx

please find enclosed your cheque for the £1.00 fee required under 77-78 of the consumer credit act, as we do not accept this statutory fee.

cabot will always assist the customer and the creditor in providing information and therefore i can confirm that cabot has requested the relevant documentation from the vendor HSBC and on receipt this will be forwarded to you accordingly. there may sometimes be a delay in providing the documents, as the vendor may have to retrieve these from theor archives. therefore we would appreciate your patience and cooperation in this matter.

you cantact us anytime blah blah

 

note on this - i sent a postal order not cheque (prats). can they do this? does this affect anything from my point of view?

 

i want to send a letter stating they are in default of the CCA request but cannot find anything in the templates library. any links anyone?

 

this seems a very nice letter from these guys, opposite to what i have seen on here about their tactics? have they changed their ways now?

 

any help on ow to respond would be appreciated.

 

thanks

[jowalshy]

It looks as though they are making a very nice gesture of supplying your info for free. You could always send a letter back to them saying thank you, but the deadline for them supplying the information was xx.xx.xx. They have had plenty of time to comply to your requests and that you would appreciate them supplying you with the info requested in the letter date xx.xx xx within the next 7 or 14 days.

[rh999]

thanks Jowalshy

 

is there a template letter stating they are in default which i can change for my circumstances?

[jowalshy]

You could always adjust the letter for defaulting against the SAR in the bank template library to suit your needs.

[rory32]

This is a standard letter from Cabot. They can wave the £1 fee but it doesn't remove their obligation and they know it. There really is very little point in writing to them while they are only in default. They are not chasing the payment on the account so at the moment they are doing nothing wrong.

[rh999]

thanks Jowalshy

 

thanks again Rory.

 

will update when i have more on this

[rory32]

rh999 although you're not really having a big problem with Cabot at the moment (so I have kept your thread in the HSBC forum) please be aware that we have a forum exclusively dedicated to Cabot and people who are having to dealing with them. If they do become a problem and you would like your thread moved to that forum at any point just shout.

[rh999]

thanks Rory

 

in the likelyhood i may start getting problems from them i have left a post in the cabot forum, with a link to this post.

 

is that right way to do it?

[Castlebest]

I think a mod can move this thread so you keep all of the advice together I will flag it for you.

 

its always better to be with people who are dealing with the same situations and people that you are.

 

pete

[djdave]

please find enclosed your cheque for the £1.00 fee required under 77-78 of the consumer credit act, as we do not accept this statutory fee.

 

 

cabot will always assist the customer and the creditor in providing information and therefore i can confirm that cabot has requested the relevant documentation from the vendor...

 

this seems a very nice letter from these guys, opposite to what i have seen on here about their tactics? have they changed their ways now?

 

Standard tactic from Cabot. Aren't they lovely, sending my quid back and offering to help? No. They're trying to make you think that they're above the law. They are a "creditor" as defined by s189 of the Consumer Credit Act, and are therfore bound to supply you with the documents you requested.

 

And if they're not a "creditor", then how could you be a "debtor", eh?

[rh999]

thanks for that DJ. Your right of course.

 

interesting letter received from HSBC today regarding my SAR request on the account i had before cabot got their hands on it.

 

thanks for your letter (not).

we note the account you are requesting statements for is a loan account. as this will not have incurred charges in the same manner as a current acct we have not provided this information to you

we are happy to pay for any information and we return your payment.

if you require more information please let us know

 

this was a current acct before they converted it into a loan, and i'm sure they did not give me a new acct number for it.

 

looks like i'm doing some digging around my garage at weekend!

[rory32]

Alternatively you could wait until the 40 days are up then send them a Letter Before Action and if they don't respond favourable to that then you can file a court claim against them (plus a couple of hundred quid in damages/costs thanks very much). They can't pick and choose what information they are willing to give you under the Data Protection Act. They have to legally give you the info you have requested.

[elizabeth1]

thanks for that DJ. Your right of course.

 

interesting letter received from HSBC today regarding my S.A.R - (Subject Access Request) request on the account i had before cabot got their hands on it.

 

thanks for your letter (not).

 

we note the account you are requesting statements for is a loan account. as this will not have incurred charges in the same manner as a current acct we have not provided this information to you

 

we are happy to pay for any information and we return your payment.

 

if you require more information please let us know

 

this was a current acct before they converted it into a loan, and i'm sure they did not give me a new acct number for it.

 

looks like i'm doing some digging around my garage at weekend!

 

Write back and tell them this was a current account to begin with - remind them the 40 days is still ticking away for the SAR request etc.. and specifically say in your letter that you want ALL information they hold on you for ALL accounts - it will still fall into the same £10 request they won't charge another fee.

 

I will try find the SAR I used to do this with - some companies will just send statements to you else - but you actually need copies of all statements, letters, telephone calls, manual interventions, sale agreement, default notice, Deed of Assignment = anything they hold on you and your accounts.

[elizabeth1]

Try adding this to your reminder reply (or something like it add anything else that I didn't include here and alter dates accordingly)

 

 

I again wrote to you on xx xxxx 2007 with a Subject Access Request under the Data Protection Act 1998. I find you merely sent me xxxxx as a print out and tell me my request is complete in your letter dated xxxxx 2007. For the avoidance of doubt, any such documents that you might offer in response should have as a minimum:

• The name of Original Creditor
  
• The name of the New Owner
  
• The amount of Original Debt
  
• Default Notice as issued
  
• The date of sale to the new owner
  
• Deed of Assignment
  
• Deed of Sale Document
  
• The signature of both the Original Creditor and New Owner
  
• Statements belonging to this account
  
• Copies of any letters that your company sent to me
  
• Transcripts of any telephone calls made to me by your company
  
• PPI insurance details of the policy that was in place with this account
  
• A "True Copy" of the Credit Agreement you claim was in place.

This is not an exhaustive list by any means - but my SAR request should include all copies of ALL Data that your company hold on me and this account - your forty days to meet this request are ending on xxx 2007 - so there are not many days left before this request is also in default. I require the above list of documents as a minimum and I do trust this request is now clearer to you?

[rh999]

thanks elizabeth

 

will get that sent off tomorrow.

 

will update with a reply from them when it comes.

 

rh

[rh999]

Hi All

 

just a quick update on this...

 

cabot have gone very quiet...

 

HSBC havent. i responded to the letter stating the account was a current 1 before they converted to a loan. it got transferred to a compliants unit, and on friday i called them and got confirmation they have the info i require.

 

in the meantime Cabots 40 days were up to provide me with the cca. and according to HSBC they will be hard pushed to get one.

 

it seems as far as HSBC are concerned i wil not get much info on the SAR, as the account was closed in 2001, and they dont keep any info prior to that..

 

with my suspicions aroused i decided to call cabot (withheld my number) i know some will say not to call, but they dont bother me too much, and i tend to tie them in knots if they start on me

 

when i called i specifically asked if Cabot were acting on behalf of HSBC or had they purchased the debt. they confirmed the debt was purchased in may last year. not sure if i mentioned before but there is a default on my credit file for this supposed debt. the entry for this "default" was placed on my file last june.....

 

wonder who did that then?

 

i will be sending an LBA to cabot tomorrow instructing them to cease any collection activity, and any data usage on me including removing the default.

 

see how it goes eh??