Cabot financial

xmaslolly76

Hiya everyone i hope you can help

I had a barclay card many years ago and got in a little bit of trouble paying it back and it got passed to mercers. after speaking to my local citizens advise i wrote them a letter asking them to write of the debt. I never recieved a reply and to my detriment i never chased for it. Any way i merrily got on with my life and didnt hear another thing until 2.5 years later when i received a letter from cabot finacial demanding the money i owed. i wrote to them explaing the above and they basically just said tough it was my problem as i didnt get a reply and i had to pay. at the time i took this as gospal and i am now making a paymetn every month by DD. My question is should they have just shrugged of my written request of proof that still owe the debt as they did or can i demand they do something???

Thank you to any one who can help!

Justicia

I suspect that even as 2.5 years later you have not repaid the debt that they are more than legally entitled to contact you to obtain the money they loaned you.

Probably not what you wanted me to say...

xmaslolly76

i understand that but should they have not at least contacted mercers or got back to who ever they bought the debt off to find out weather i was telling the truth and what had happened to my letter. They actually called me on the day they received my letter and just said tough so they did not even make any enquries. do you think i should try contacting mercers myself and see what they have to say?

Harassed_2

You should have been informed by both the seller and buyer of the account at the time of assignment. You can still demand proof of the debt. Suggest you suspend the direct debit until they provide it. Copy letter to use below. Send it by Recorded Delivery and enclose a £1 postal order in payment of the statutory fee.

I require you to supply the following documentation before I will make any further payments.

1. You must supply me with a true copy of the alleged agreement you refer to. This is my right under your obligation to supply a copy of the agreement under the legislation contained within s.78 (1) Consumer Credit Act 1974 (s.77 (1) for fixed sum credit) - your obligation also extends to providing a statement of account. I enclose a £1 postal order in payment of the statutory fee, PO Serial Number xxxxx.

2. A signed true copy of the deed of assignment of the above referenced agreement that you allege exists.

3. You are notified that you are obliged to supply these documents, whether you are the original creditor or not under S189 of the CCA 1974.

Non-compliance with my request is a criminal offence under the above Act and will result in a report being submitted to the relevant statutory authorities.

As you are aware, a credit agreement that is not properly documented and signed by the customer is totally unenforceable under the CCA and therefore is a complete defence to any court claim that is issued.

Take note at this stage, that any legal action you may contemplate will be both vigorously defended and contested.

If they can't provide proof (and these parasites very often can't) then pay them zip. They've already recovered the pennies they paid for the debt.

moggins

And this company are truly the pits, they are currently chasing me for a debt my ex-husband took over under the terms of the divorce. My ex-husband has actually had an attachment of earnings for this debt for the past 4 years but because no one got the facts right when they bought the debt they are placing it firmly back on my shoulders. I am refusing to pay a debt that he has been paying off for 4 years and keep trying to refer them back to him.

Until last week they were ringing at least 3 times a week and persisted in calling me by my previous name. I have actually had to pay to get withheld numbers barred from my phone now just to get some peace from them.

They don't care, they don't listen and will just keep on and on until they get what they want from you, they are truly the most evil company on the face of the planet!

us,thecat&thedebt

hi

ive seen alot of this about thank you for the template i will certainly use it

can anybody advise what happens if they dont have documents they should have? do they write the debt off?
does it stay on your credit file?

i owe money to many creditors i dont remember signing anything for any of them apart from the bank loan!!!

this could be a miricale for me!!!!!

i have asked the debt agencies for a copy of my credit agreement over the phone and all of them say they do not hold credit agreements i should contact orginal company is this just them fobbing me of and if i send a letter with postal order will they ignore me?

thanks everyone :j

Harassed_2

You have to apply to the creditor who actually owns the debt, not the debt collectors. In the case above, Cabot Financial. You can't do it over the phone, you need to use the letter above and send a £1 postal order with each request. Best to send them by Recorded Delivery.

In most cases, if they don't supply the copy agreement, then you can simply stop paying until they do. Without proof, they may threaten all sorts, but find it very difficult to go to court.

In your case however, you've complicated matters by paying - you've acknowledged the debt. You can still challenge it and state that you are suspending the direct debit until they prove the debt.

smcaul

moggins wrote:

And this company are truly the pits, they are currently chasing me for a debt my ex-husband took over under the terms of the divorce. My ex-husband has actually had an attachment of earnings for this debt for the past 4 years but because no one got the facts right when they bought the debt they are placing it firmly back on my shoulders. I am refusing to pay a debt that he has been paying off for 4 years and keep trying to refer them back to him.

Until last week they were ringing at least 3 times a week and persisted in calling me by my previous name. I have actually had to pay to get withheld numbers barred from my phone now just to get some peace from them.

They don't care, they don't listen and will just keep on and on until they get what they want from you, they are truly the most evil company on the face of the planet!

I have actually complained to the MD of Cabot, they sail very close to the wind as far as the law goes on harrasment. They contacted me once and I gave them my mobile number, I then started to get phantom calls to my mobile where it would ring a couple of times and then hangup, the number was always withheld. And guess what, Cabot use automated dialers, I managed to get them to admit they had made the false calls and then got them to go back through their records, they claim they could not go back any further then 3 days!!! I had also requested in writing that my number be removed from their records, they are obliged to do this, but they did not, hence why I got the calls, I also got one of their staff telling me that they did not have to remove my number and that they could call whenever they liked!!! At the time I was very ill with a liver problem and ME so did not have the energy to argue with them straight away. But when I started to recover I have chased them very hard and am continueing to chase them as they are nothing more then bullies of the worst kind. I can give you the details of their MD if you wish, just send me a PM, Make sure they remove your number from their records or they wil continue to call it forever and a day. And their customer service staff are the rudest people with a complete lack of training, don't even contemplate deaing with anyone below manager level.

Harassed_2

Cabot are typical of the parasite debt buyers now appearing. Don't even think about applying morals to your dealings with them.

Where are the morals in buying a debt for pennies and then chasing the full face value? Challenge each and every one of their demands.

Anyone needing information on any of these scavengers, just post some details and I'll give what help I can.

The common debt buying companies (and the list is not exhaustive) are:

Capquest, Aktiv Kapital, Thames Credit, Cabot Financial, Link Financial, Fredricksons, CL Finance.

bustedeggyolk

Hi

I'm fairly new to the site, but note with interest that you can provide assistance with the problem of second hand debt colectors. Following serious redundancy and subsequent marital breakdown, I was left with considerable debt with Credit Card companies. This all happened in 2001 and I tried to pick up my life again. I learned to ignore the hurtful and nasty threatening letters and phone calls, but was unable to do anything to reduce the debt. Now five years later I still get nasty mail and I wonderd if there was anything I could do. I might be able to offer some F&F, but don't really know where to start.

Thanking you in anticipation

Bustedeggyolk

Xbigman

The first step is to contact all your creditors and get up to date information on exactly what you owe. It will certainly have changed over the years.

You also want to draw up a budget for yourself to see what your actual free income is so you can start to negotiate making payments.
If you have a lump sum avaiable you can write to your creditors (once you have the updated balances) and make an opening offer of a full and final settlement. But you need to contact them first.
Regards



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