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    • chappers
    • By chappers 4th Oct 17, 12:36 PM
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    chappers
    opinions on Cabot Finance
    • #1
    • 4th Oct 17, 12:36 PM
    opinions on Cabot Finance 4th Oct 17 at 12:36 PM
    quick version;

    I had and account in dispute, over charges, with Santander and recently whilst applying for a commercial loan found out they have defaulted me. Luckily via my broker managed to dodge that one and everything OK from the loan point of view.

    Essentially back in 2012 I had this dispute with Santander, but trying to deal with them is like trying to bang your head against a brick wall, so after two months of trying just stopped using the account, subsequent charges raised the balance from -£80 to -£580 at which point Santander wrote to me saying they had closed my account. Apart from statements of balance every 6 months I haven't heard anything from them since June 2013.
    Anyway earlier this year I found out that they had registered a default against me(December 2013), but I know 100% that I haven't received a default notice and Santander say that they can't even provide a copy.

    Move forward to the beginning of September and Santander have sold the debt to Cabot, who incidentally are pestering me at least twice a day. I haven't spoken to them at all and all things being equal would just ignore them.

    However here is my dilemma I will be moving house at the end of October and my concern is that I won't receive any post from them and so won't be able to defend any attempt they may make to obtain a CCJ against me(something I am quite happy to do). But equally don't particularly want to communicate with them and don't want to give them my new address.

    Santander won't even speak to me about it now and I am thinking that for good measure I will report them to the ICO and make a request to get my credit file updated(not that is causing too much problem made a personal guarantee for a £300,000 commercial loan and opened two new bank accounts with it there).

    Would raising a complaint and requesting a correction be made to my credit file have any detrimental effect upon it as currently the default isn't doing any major harm


    I suppose my question is does anyone have any experience of Cabot and the likelihood that they will ever pursue this debt as far as court, I am quite happy to fight it pre court but fighting it post CCJ isn't something I really relish having to do.
    The debt has been fully assigned to them(I have the documentation from both Santander and Cabot).


    When taking out my recent loan I did offer to settle the debt if it made any difference so I suppose that is an option if I end up backed right into a corner, but I'm not sure I could ever forgive myself for conceding to these leeches.

    Thanks in advance
    Last edited by chappers; 04-10-2017 at 12:42 PM.
Page 1
    • Smevchenko
    • By Smevchenko 4th Oct 17, 1:08 PM
    • 16 Posts
    • 3 Thanks
    Smevchenko
    • #2
    • 4th Oct 17, 1:08 PM
    • #2
    • 4th Oct 17, 1:08 PM
    The understanding from that suggests they are trying to reclaim a valid debt? Why did you not progress with your Santander dispute? Surely just ignoring it is the reason you have Cabot contacting you now. Why don't you just pay?

    I have had Cabot pestering me for a while, and agreed to pay the debt.... now settled. Letters they sent highlighted that further action may be taken, but it never got that far.... I probably avoided paying them for 18 months, I would only be guessing If I thought they would take out a CCJ if I had left it any longer.
    • chappers
    • By chappers 4th Oct 17, 1:54 PM
    • 2,726 Posts
    • 1,544 Thanks
    chappers
    • #3
    • 4th Oct 17, 1:54 PM
    • #3
    • 4th Oct 17, 1:54 PM
    I didn't pay because I disputed the debt due to the way that they changed the way they applied charges without notifying me.
    Just a bit of further history;

    The disputed charges arose as I bounced a cheque on them, the moment I realised I credited my account with the amount to cover representation of the cheque and the £32 that at the time was the charge for non payment, later that month I saw that they had actually charged me £132.
    When I called them they told me that they had changed their policy and that previously when applying charges that took an account into arrears, they automatically arranged an authorised overdraft to cover the negative balance created by the fees, but that now they had stopped doing that and as per my conditions they would now be charging £100 monthly unauthorised overdraft fee.
    I then disputed this both on the phone and in writing over a period of 3 months, it was almost impossible, could never speak to the same person, lost letters, no records of phone calls, the list was endless.

    Anyway whilst still pursuing the dispute one day in the post I received a letter saying that Santander were closing my account. So I thought OK **** you then. At that point the balance of the account was -£180(all made up of disputed charges, in fact charges were £200, so they had already had some of my money)
    That was the last I heard from them no requests for payments, nada, until over 6 months later when I received a balance of account note stating account was -£580.
    Fast forward to July this year when I find out that my account was defaulted December 2013 which would tie in as to why the balance was -£580 anther 4 months of charges despite the fact they said they had closed my account before they "defaulted" it.
    September 2017 I tried speaking to them about the default but they refused to speak with me as they said the debt was going to be sold to a DCA and low and behold here we are.

    Just to confirm Santander have not once ever chased me for this "debt" beyond it appearing on a statement they have never so much as asked me to repay it or threatened any further action nor set any deadlines to do so.

    I am not trying to wriggle out of a debt, I have never done so in my life, yes I have bounced the odd cheque missed the odd DD, even fought off a reposseion but until now my credit record has been exemplary, I have had lines of credit exceeding a million pounds at a time, in the past via mortgages and credit cards.
    I have dealt with all sorts of financial institutions from high street banks to some of the most unknown, high interest, no questions asked unregulated, lenders out there and I can say without hesitation that Santander are the biggest, most unprofessional shower of 5h1t I have ever had the misfortune to deal with.

    But I don't intend to pay a debt that I don't think is justified and particularly not to some leech who has bought it for a few quid.
    Last edited by chappers; 04-10-2017 at 2:01 PM.
    • Samsung_Note2
    • By Samsung_Note2 4th Oct 17, 2:16 PM
    • 95 Posts
    • 26 Thanks
    Samsung_Note2
    • #4
    • 4th Oct 17, 2:16 PM
    • #4
    • 4th Oct 17, 2:16 PM
    I didn't pay because I disputed the debt due to the way that they changed the way they applied charges without notifying me.
    Just a bit of further history;

    The disputed charges arose as I bounced a cheque on them, the moment I realised I credited my account with the amount to cover representation of the cheque and the £32 that at the time was the charge for non payment, later that month I saw that they had actually charged me £132.
    When I called them they told me that they had changed their policy and that previously when applying charges that took an account into arrears, they automatically arranged an authorised overdraft to cover the negative balance created by the fees, but that now they had stopped doing that and as per my conditions they would now be charging £100 monthly unauthorised overdraft fee.
    I then disputed this both on the phone and in writing over a period of 3 months, it was almost impossible, could never speak to the same person, lost letters, no records of phone calls, the list was endless.

    Anyway whilst still pursuing the dispute one day in the post I received a letter saying that Santander were closing my account. So I thought OK **** you then. At that point the balance of the account was -£180(all made up of disputed charges, in fact charges were £200, so they had already had some of my money)
    That was the last I heard from them no requests for payments, nada, until over 6 months later when I received a balance of account note stating account was -£580.
    Fast forward to July this year when I find out that my account was defaulted December 2013 which would tie in as to why the balance was -£580 anther 4 months of charges despite the fact they said they had closed my account before they "defaulted" it.
    September 2017 I tried speaking to them about the default but they refused to speak with me as they said the debt was going to be sold to a DCA and low and behold here we are.

    Just to confirm Santander have not once ever chased me for this "debt" beyond it appearing on a statement they have never so much as asked me to repay it or threatened any further action nor set any deadlines to do so.

    I am not trying to wriggle out of a debt, I have never done so in my life, yes I have bounced the odd cheque missed the odd DD, even fought off a reposseion but until now my credit record has been exemplary, I have had lines of credit exceeding a million pounds at a time, in the past via mortgages and credit cards.
    I have dealt with all sorts of financial institutions from high street banks to some of the most unknown, high interest, no questions asked unregulated, lenders out there and I can say without hesitation that Santander are the biggest, most unprofessional shower of 5h1t I have ever had the misfortune to deal with.

    But I don't intend to pay a debt that I don't think is justified and particularly not to some leech who has bought it for a few quid.
    Originally posted by chappers
    Well that's tough im afraid..when they go for a CCJ you"ll have the choice of either paying or being forced to pay.

    The fact you've had million pound this that and the other makes no odds...them being a shower of !!!!!4 makes no odds..me being fat and ugly makes no odds.

    Fact is you owe them money,like it or not...they will have there money that's guaranteed.
    • chappers
    • By chappers 4th Oct 17, 2:43 PM
    • 2,726 Posts
    • 1,544 Thanks
    chappers
    • #5
    • 4th Oct 17, 2:43 PM
    • #5
    • 4th Oct 17, 2:43 PM
    Well we will see on that, you missed out that I have the options to dispute the claim or make a counter claim or even appeal to get the judgement set aside if they do make a claim in my absence.

    I have a full paper trail from my point of view as to how I tried to settle the dispute and am pretty confident of dealing with that and am well aware of how far I am willing to push and how to deal with the situation.
    I wasn't asking for advice on debt or process I have been in far more pressing and complicated situations than this in the past

    Was just asking for opinions on Cabot, so I could make an assessment, as to whether to take the risk of leaving them behind when I move or whether to actually open some sort of dialogue with them.
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