Cabot Financial - My Next Step

by Compaq7500 Fri Aug 09, 2019 6:09 pm

Hiya people have used and sent 3 Letters and after 30 days of sending letter 3 a cease & desist letter to Cabot financial (Europe) limited requesting them to provide the following details regarding a MBNA credit card that was by MBNA and bought by a debt collection agency called DLC , Cabot also stated that DLC are now part of the Cabot group since 2015.

The documents I requested in the 3 letter process were as follows.

1. Certified Copy Deed Of Assignment.
2. Certified Copy Deed Of Novation
3. Certified/Original Copy Of The Credit Agreement.

After requesting the above information Cabot are stating that they can't get hold of the credit agreement as the debt is old, they also state that they are not legally obliged to send me a deed of assignment only a notice of assignment needs to be sent they also said the deed of Novation is not required.

I have sadly been paying a token payment of £1 a month and so because of this Cabot has stated I've acknowledged the debt, to be honest I only did this due to being threatened over and over the phone and with numerous letters being sent and put through my letterbox, Cabot financial (Europe) Ltd haven't as of yet threatened any legal action regarding this matter, cabot have also stated that this credit card debt isn't on my credit file.

Advice would be greatly appreciated

by Compaq7500 Fri Aug 09, 2019 6:33 pm

by **daveiron** Fri Aug 09, 2019 7:49 pm

I would be inclined to ask them , As you and MBNA are unable to provide a copy of any agreement ,will they therefore
please provide the original for your scrutiny . Or is it the case there is no agreement in existence?

by **Mrblue2015** Sat Aug 10, 2019 8:37 am

I’m also thinking; regardless that you paid £1 a month, you did that due to fear not explicitly acknowledging any debt, correct? Cabot can say whatever they like, who cares.

I would send the template letter 1 (or wherever you’re up to 1,2,3 etc) and start by saying you have since performed some research and are are now aware that for Cabot to be legally entitled to any ALLEGED debt, they are required to provide all (not a selection) of the documentation below (as per the documents stated in the template letter, NOT just those three documents you asked for in your previous post). Acknowledge that you paid £1 per month through fear and ignorance with no consideration as to whether you had in fact owed any alleged debt and that you now believe no alleged debt is outstanding as Cabot have not provided the necessary legal evidence (make sure you say evidence NOT proof...) for Cabot to substantiate any claim.

by Compaq7500 Sat Aug 10, 2019 5:31 pm

Mr blue I have sent all 3 letters and a cease & desist letter what I have attached previously is what Cabot have replied question is now what do you guys think I should do next.

Thank you all in advance

by **Mrblue2015** Sat Aug 10, 2019 8:22 pm

You say you have used all three letters, but each time you have only asked for the 3 items listed in your original post, is that correct?

by Compaq7500 Sun Aug 11, 2019 2:16 pm

Mr Blue yes that is correct

by **Mrblue2015** Sun Aug 11, 2019 3:31 pm

May I ask why you didn’t use the template letters as they are (ie asking for more than those three items)?

Anyway haha I would use the full letter template 1 and precede it with a paragraph as I described above. Then see what happens Smile

by Compaq7500 Fri Aug 16, 2019 10:07 pm

Mrblue can you give me the link to send letter template 1 please.

Many thanks in advance

by **Mrblue2015** Fri Aug 16, 2019 11:14 pm

No problem. If Cabot are simply collecting on behalf of DLC then use this link:

https://goodf.forumotion.com/t1163-new-alternative-letters-for-dca-s-acting-as-agents

If Cabot are the purchasers, use this link:

https://goodf.forumotion.com/t1131-new-3-letters-for-debt-purchasers

by Compaq7500 Wed Aug 28, 2019 8:49 pm

Mr Blue have sent the full letter template No1 today to Cabot Financial Europe Ltd as suggested by your goodself , just a waiting game now for Cabot to reply will update when Cabot reply

by **Mrblue2015** Wed Aug 28, 2019 9:53 pm

And Well done. And you were sure to add the paragraph I referred to above (Acknowledge that you paid £1 per month through fear and ignorance etc etc)?

by Compaq7500 Thu Aug 29, 2019 6:12 am

Yes I did Mr Blue that is correct

In your opinion what do you think will happen after I've sent the full letter template 1 to Cabot, should I cancel the £1.00 a month token payment that I'm currently paying Cabot.

by **Mrblue2015** Thu Aug 29, 2019 8:36 am

First, apologies for the large font - formatting gone crazy!

Yes cancel the £1 per month, otherwise you are continuing to acknowledge the alleged debt. Just stick to the process now.

Letter 2 in 10 days (regardless as to what they say or send you) then Letter 3 10 days later.

Then we'll see what happens then.

In the meantime, check out this excellent post (jump to Sunday May 19, 2019 3:48 am) from assassin which 'translates' some of the wording that the DCAs like to use to mislead you ;-)

https://goodf.forumotion.com/t3496-credit-security-limited

by Compaq7500 Wed Sep 11, 2019 4:46 pm

Just an update for you Mr Blue.

No reply from Cabot Financial Europe Ltd as of yet from 1st letter that was sent by 1st class recorded delivery on 28th of August 2019 which was received and signed for on the 29th of August 2019 copy of signature obtained.

2nd letter is being sent tomorrow yet again by royal mail 1st class recorded delivery.

To be honest I really thought that Cabot Financial Europe Ltd would of replied.

I will keep you and everybody updated as and when, I have also cancelled the £1.00 a month token payment as requested by your goodself

Regards.

Compaq7500

by **Mrblue2015** Thu Sep 12, 2019 5:32 am

Compaq7500 wrote:To be honest I really thought that Cabot Financial Europe Ltd would of replied.

Thanks for the update Compaq7500 but don’t be surprised, you’ve stumped them!

Keep calm and carry on with the process as they say Smile

by Compaq7500 Thu Sep 12, 2019 6:22 am

Will do Mr Blue as always thank you for your valued input

by **Mrblue2015** Thu Sep 12, 2019 9:57 am

You're welcome buddy. They would have expected you to roll over but now they have to handle you in the correct (legal) manner.

by Compaq7500 Fri Sep 27, 2019 10:00 am

Just an update Mr Blue no reply from Cabot Financial Europe after sending letters 1 & 2, the 3rd and final letter is being sent today by royal mail signed for service so time will tell if Cabot Financial Europe reply to this 3rd and final letter which is part of the 3 letter process.

Will update if and when I receive any correspondence from Cabot.

Many thanks in advance, your help and input so far has been greatly appreciated.

by **Mrblue2015** Fri Sep 27, 2019 10:21 am

Really appreciate the update buddy, it's looking promising (as they weren't expecting this response) ;-)

You're welcome - keep calm as they say - it's all a game.... (albeit a frustrating one at times!) BUT never be fearful. They're a private company and nothing more. It's not the government chasing you for money (but even then, one would argue that you wouldn't need to be fearful in that event).

Have a good weekend! And remember my tip: ANY letters received on a Friday (YES the low-lives love to do that / try to spoil your weekend - it's not a coincidence...) DON'T open them until Monday and put them out of view so that your not reminded.

That's what i do anyway Smile

by Compaq7500 Sun Sep 29, 2019 8:19 pm

Mr Blue may I ask what my next step will be/is if I don't receive anything in the post from Cabot Financial Europe Ltd after sending letter 3 of the 3 letter process which I did last Friday 27th September 2019, I expect Cabot to receive and sign for letter 3 tomorrow morning Monday 30th September 2019.

Regards

Compaq7500

by **Mrblue2015** Sun Sep 29, 2019 8:43 pm

I would just sit tight now. You’ve given them THREE opportunities ie you’ve been more than reasonable.

Just wait until you next hear from them then update us.

Enjoy the rest of your weekend and in future, don’t waste any of it thinking about it! Smile

by Stevro Wed Oct 09, 2019 12:05 am

Cabot are pussies and back down to the 3 letters I have found.

by Compaq7500 Sat Oct 19, 2019 9:50 pm

Just an update Mr Blue letter 3 of the 3 letter process sent to Cabot financial Europe Ltd by recorded delivery and was signed and received on the 30th Of September 2019, as of yet I have received no correspondence from Cabot Financial Europe Ltd after they received the 3rd letter.

Regards

Compaq7500

by **Mrblue2015** Sun Oct 20, 2019 6:39 am

All you can do now is wait and see what happens. I don’t think you ever told us whether Cabot bought the alleged debt from MBNA or are they collecting on behalf of MBNA?

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