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Cabot Financial Ltd

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Cabot Financial Ltd

Post by dkent1977 on Fri Sep 15, 2017 5:33 pm

Been dealing with these for a while now regarding an alleged catalogue debt.

Have sent the letters, estoppel, sec 10 etc and have received various letters back but the most they've sent back are dubious statements printed off the edge of paper so I've been ignoring their template letters until today when I received a nice "Potential legal action" letter today wanting to hear from me in 14 days.

I'm getting ready to send the Pre Action Conduct letter but am wondering a few things - In one of their letters thay say that "I would remind you that you entered into a credit agreement.....CCA 1974.....legally assigned....LOP act....as this is a catalogue account a copy of the credit agreement is not available" ?? Is that right??
Do I still send it to the Boss man or to the person who sent me the letter?
Also on the Pre Action letter it refers to Clients (your Clients claim; impose Sanctions against yourself and your client etc) should I remove reference to clients as it sounds like I'm writing to their solicitors? (Small one I know but I want it to have maximum effect!)
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Re: Cabot Financial Ltd

Post by Tiggy on Fri Sep 15, 2017 7:50 pm

Yes, amend it, it was originally addressed to a firm of Solicitors.

The agreement is covered by the CCA Section 78, under Section 78.1 they have to provide a copy, if not under Section 78.6 it's unenforceable against you.

Have you separately sent them a request for a copy and sent them the £1 fee? If not, I'd do that as well as the PAC letter.

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Re: Cabot Financial Ltd

Post by dkent1977 on Fri Sep 15, 2017 8:15 pm

@Tiggy wrote:Yes, amend it, it was originally addressed to a firm of Solicitors.

The agreement is covered by the CCA Section 78, under Section 78.1 they have to provide a copy, if not under Section 78.6 it's unenforceable against you.

Have you separately sent them a request for a copy and sent them the £1 fee?  If not, I'd do that as well as the PAC letter.

Cheers Tiggy! I thought I would never be able to pick your brains again when the other site went down!

No, I've not sent them a CCA request so will send them one ASAP along with the PAC.

So them admitting there is no agreement works massively in my favour then Smile
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Re: Cabot Financial Ltd

Post by Tiggy on Fri Sep 15, 2017 8:41 pm

@dkent1977 wrote:So them admitting there is no agreement works massively in my favour then Smile

Yup, they can't get a court to enforce it without one, they are also obliged under FCA rules (once you've requested a copy of the agreement) to inform you that the debt is unenforceable against you (whilst the default remains).

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Great to have you back Tiggy

Post by Prometheus on Sat Sep 16, 2017 9:25 am

Very Happy

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Re: Cabot Financial Ltd

Post by Tiggy on Sat Sep 16, 2017 5:21 pm

@Prometheus wrote:Very Happy

Thank you. Very Happy

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CABOT

Post by EGGS&BACON on Fri Sep 22, 2017 1:54 pm

@Tiggy wrote:Yes, amend it, it was originally addressed to a firm of Solicitors.

The agreement is covered by the CCA Section 78, under Section 78.1 they have to provide a copy, if not under Section 78.6 it's unenforceable against you.

Have you separately sent them a request for a copy and sent them the £1 fee?  If not, I'd do that as well as the PAC letter.


So under section 78.1 of the Current Consumer Credit Agreement Rules, (CCA Rules), any debt collector has to provide me a copy of the Credit on Agreement if I request it and send £1.00? That should stop a lot of them in their tracks right?

Also, is it not a risk sending Cabot, especially, ANY payment as I know they tell untruths and might try and call it a payment/acknowledgment on debt..?

Please advise.
Many thanks

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Re: Cabot Financial Ltd

Post by Tiggy on Fri Sep 22, 2017 3:18 pm

This is a CCA request, look under para 3.

Request under s.78 Consumer Credit Act 1974

Dear Sirs
Re: Account / Reference Number: xxxxx / xxxxx

With reference to the above agreement, I require that you provide me a true copy of the credit agreement.

I am aware that section 78(1) of the Consumer Credit Act 1974 sets out clearly what is required to comply with my request and quote “shall give the debtor a copy of the executed agreement (if any) and of any other document referred to in it”. For clarification I require a copy of the agreement, any terms and conditions from the time when the agreement was executed, the current terms in force or in the alternative the notices of variation of each term as approved in Carey v HSBC Bank Plc and a copy of the cancellation notice if the agreement refers to “Your Right to Cancel” within it. I also require a statement as laid out also within section 78(1)(a-c). If there weren’t any terms and conditions then please confirm this in your response.

I am entitled to receive the information on request. I enclose a payment of £1.00 per account, which represents the fees payable under the Consumer Credit Act 1974. This request is a statutory request and should not be construed as any acknowledgment or payment towards any account.

I understand that Consumer Credit (Prescribed periods for Giving Information) Regulations 1983 (SI 1983/1569) at Regulation 2 sets out the required time frame for compliance with this request as being 12 working days from receipt.

In the event that you do not consider yourselves the “creditor” I direct you to s189 Consumer Credit Act and the leading case of Jones v Link Financial Ltd [2012] EWHC 2402 (QB) (22 August 2012) which confirms that assignees of an account are the creditor and must comply with statutory duties.

In accordance with the new FCA guidance, if the copy of the executed agreement is reconstituted, then I expect you to confirm this is the case and to confirm what steps were taken to provide this reconstitution as set out in the FCA handbook CONC 13.1.4 (2).

I look forward to hearing from you
Yours faithfully

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Re: Cabot Financial Ltd

Post by dkent1977 on Wed Sep 27, 2017 5:14 pm

Received a response today -
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Re: Cabot Financial Ltd

Post by dkent1977 on Thu Sep 28, 2017 11:58 am

And then this today....
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Re: Cabot Financial Ltd

Post by dkent1977 on Thu Sep 28, 2017 12:03 pm

So, what's the next thing to do? I imagine they might come back with a simular letter....
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Re: Cabot Financial Ltd

Post by Tiggy on Thu Sep 28, 2017 1:05 pm

@dkent1977 wrote:So, what's the next thing to do? I imagine they might come back with a simular letter....

To do? Nothing. You've asked for a copy of the agreement under Section 78.1 of the Consumer Credit Act, they've admitted they can't supply it - therefore, they are acknowledging that under Section 78.6 of the CCA the debt is unenforceable against you.

Wait out the 6 years from when they issued the default notice and it's statute barred.

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Re: Cabot Financial Ltd

Post by dkent1977 on Thu Sep 28, 2017 1:12 pm

@Tiggy wrote:
@dkent1977 wrote:So, what's the next thing to do? I imagine they might come back with a simular letter....

To do? Nothing.  You've asked for a copy of the agreement under Section 78.1 of the Consumer Credit Act, they've admitted they can't supply it - therefore, they are acknowledging that under Section 78.6 of the CCA the debt is unenforceable against you.

Wait out the 6 years from when they issued the default notice and it's statute barred.

Was thinking that they might sell it on. What about them marking my credit file? Anything I could send to stop them from doing that??
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Re: Cabot Financial Ltd

Post by daveiron on Thu Sep 28, 2017 1:50 pm

If you have not already, complete the 3 letters to them.

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Re: Cabot Financial Ltd

Post by dkent1977 on Thu Sep 28, 2017 2:42 pm

@daveiron wrote:If you have not already, complete the 3 letters to them.

They had received all of them, including Estoppel, by April 2016!
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Re: Cabot Financial Ltd

Post by daveiron on Thu Sep 28, 2017 3:00 pm

Ok thats good , make sure you keep all the paperwork ,
you never know ,you may find it useful in the future. Well done.

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Re: Cabot Financial Ltd

Post by Tiggy on Thu Sep 28, 2017 3:52 pm

@dkent1977 wrote:
@Tiggy wrote:
@dkent1977 wrote:So, what's the next thing to do? I imagine they might come back with a simular letter....

To do? Nothing.  You've asked for a copy of the agreement under Section 78.1 of the Consumer Credit Act, they've admitted they can't supply it - therefore, they are acknowledging that under Section 78.6 of the CCA the debt is unenforceable against you.

Wait out the 6 years from when they issued the default notice and it's statute barred.

Was thinking that they might sell it on. What about them marking my credit file? Anything I could send to stop them from doing that??

There's nothing you could do or send (bar taking out an injunction- which I could never recommend) that would stop them selling the debt on - but who would buy it, if the biggest debt purchaser hasn't had any luck then I doubt anyone else has.

As for your credit file, again not much you can do about that, it will drop off 6 years after you initially defaulted, it's the stick they retain to beat us with I'm afraid.

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Re: Cabot Financial Ltd

Post by discodave4093 on Fri Sep 29, 2017 9:46 pm

Keep a copy of the letter and send it to the information commissioner's office. They clearly state the following on their website "However, where an organisation has decided to stop pursuing a debtor for payment, it would appear unfair to show that money is still owed under the account."

So if Cabot are saying they going to still show that money is still owed then they are going against ICO rules. Open a dispute with the credit refence agencies and bring up this statement I just mentioned from the ICO. I managed to get 3 lowell accounts in my name and another one in my wife's name all set to zero balance on our credit reports using this method.

You probably won't get rid of the defaults though until the 6 years is up. I hope this helps

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Re: Cabot Financial Ltd

Post by dkent1977 on Sun Oct 01, 2017 5:53 pm

Nice to know. Its barred next year so think I'll leave it Smile
@discodave4093 wrote:Keep a copy of the letter and send it to the information commissioner's office. They clearly state the following on their website  "However, where an organisation has decided to stop pursuing a debtor for payment, it would appear unfair to show that money is still owed under the account."

So if Cabot are saying they going to still show that money is still owed then they are going against ICO rules. Open a dispute with the credit refence agencies and bring up this statement I just mentioned from the ICO. I managed to get 3 lowell accounts in my name and another one in my wife's name all set to zero balance on our credit reports using this method.

You probably won't get rid of the defaults though until the 6 years is up. I hope this helps
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Re: Cabot Financial Ltd

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