Debt selling

10past6

crazyhaggid wrote: »

WOW! I think its too late to use that letter on Cabot as its with the ombudsman now but once DLC get back to me I'm going to send one their way

You MUST send that letter, this places your account "In Dispute" which prevents them taking ANY further action against you.

crazyhaggid

I already told them to freeze interest/charges as the account was in dispute but they ignored the request

10past6

crazyhaggid wrote: »

I already told them to freeze interest/charges as the account was in dispute but they ignored the request

Because the letter is addressed “Formal Complaint” they must now deal with as such, all previous correspondence to some extent is irrelevant.

Trieshard

Hi does this apply in scotland too?

i requested a CCA re a credit card account that i had not been paying and i had been threatened with legal action, they received my request on 14 October 2008. I'm still waiting for a copy from them. They have acknowledged that they have received my request but nothing has arrived as yet. They did raise legal action against me on 24 October 2008 but they claimed my letter must have crossed at the same time as they requested their agents to start legal action. They have put any action on hold while my request under the Consumer Credit Act is being dealt with, but i'd like to know what i do after the 30 days which i think will be about 29 November 2008.

crazyhaggid

heres my letter from cabot:

Our response to your letter
I refer to a letter from the Financial Ombudsman Service received on 12th November 2008.
I understand you believe Cabot has failed to provide you with the relevant documentation as requested under section
77/78 of the Consumer Credit Act.
We accept that there was an initial delay in providing the relevant documentation to you, as it was necessary for the
information to be retrieved from the original lender's archives, as previously advised. According to the Consumer
Credit Act section 78(6), once we have complied with the request under section 78(1) of the Consumer Credit Act
1974, and for the avoidance of doubt Cabot has complied with the said section, albeit out of time, it may once again
enforce the agreement. Notwithstanding, we provided the required information to you in July 2008, which satisfied
your request for information.
For clarification, the Cabot Financial Group purchased your account from HFC, the original lender, on or about 28th
March 2008. The Cabot Financial Group, the assignee of your account, are entitled to collect the outstanding balance
on your account and also to enforce the original terms of the credit agreement. Although Cabot has no obligation
under section 77 and/or 78 of the Consumer Credit Act 1974 to supply with information, Cabot will at all times assist
its customers in order to provide information. Cabot at all times relies on the original lender to provide information in
order to assist with your enquiries.
Please find enclosed a copy of the credit agreement that you signed and agreed to with the original lender. Please
note that on the copy of this agreement, your signature is supported by the statement "This is a Credit Agreement
regulated by the Consumer Credit Act 1974. Sign it only if you want to be legally bound by its terms". You shall also
note on the credit agreement that under the heading "Declaration" it states "Credit Agreement regulated by the
Consumer Credit Act 1974". Therefore, this constitutes a valid credit agreement, which is regulated by the Consumer
Credit Act 1974 and under the terms of the agreement.
Furthermore please be advised that although the original copy may not be available to Cabot, HFC has supplied
Cabot with a copy of the original which you signed and satisfies all requirements from both HFC and Cabot. Under
section 78 of the Consumer Credit Act 1974 it states "the creditor... shall give the debtor a copy of the executed
agreement (if any)" and stress the words "if any". As re-iterated above, Cabot has been provided with a copy of the
agreement from HFC and therefore, this satisfies all obligations from both parties. In addition please find enclosed
the relevant statements, which clearly detail the transactions and payments you have made on this account and the
relevant terms and conditions.
With regards to the legibility of the credit agreement and terms and conditions, it is the case that at the time of
entering into the agreement with HFC, all terms were clearly legible, which you agreed and signed to in order to
obtain the credit, which you have received and utilised.
I note from your letter dated 9th August 2008 you have stated "under Scottish Law we are unable to pursue a debt if
we have failed to provide a copy of the terms and conditions. Please be advised that your credit agreement is
regulated by the Consumer Credit Act 1974. A term in the credit agreement states, "This agreement is governed by
the Laws of England". As a result Scottish law does not apply.

crazyhaggid

With regards to the requirements of the agreement regulations 1983/1553 concerning the form and content of the agreement,
these regulations do not deal with this matter, as it is the CCA that deals with this matter as primary legislation. Section 189(4)
of the CCA states:
A document embodies a provision if the provision is set out either in the document itself or in another document referred to in
it."
Section 61 of the Consumer Credit Act, which deals with the "signing of document" states "A regulated agreement is not
properly executed unless"
(a) A document in the prescribed form itself containing all the prescribed terms and conforming to the regulations (Consumer
Credit (Agreement) Regulations 1983) under section 60(1) is signed in the prescribed manner both by the debtor...
(b) The document embodies all the terms of the agreement, other than the implied terms..."
The word "embodies" does not mean, "contain" as you have stated. The word "embody" (in contrast to "contain" which is set
out is subsection (a) of section 61) means that the document need not set out all the terms itself, but may refer to another
document setting out the terms under section 189 (4).
As to prescribed terms, this is covered in section 61 (a), above, where it mentions, "contains". The terms and conditions have
set out all the prescribed terms as required under the Consumer Credit (Agreement) Regulations 1983 and therefore there can
be no argument as to the validity of the form and content of the agreement.
With regards to your claim that Cabot applied interest to your account on assignment of this account, I can confirm that when
Cabot purchased the above account from HFC the outstanding balance was £1557.56. (This is clearly stated on the March
2008 HFC statement that we have enclosed). On checking our records it would appear that Cabot, has not received regular
payments from you and subsequently penalty interest has been applied to the account in October 2008. Cabot will only
suspend interest on your account, if an agreed repayment arrangement is in place and cleared payments are received
accordingly.
Please be advised that Cabot is legally entitled, under the original credit agreement signed with HFC, to apply the contractual
rate of interest to your account. For your information, I have included a statement of your account since Cabot's ownership,
which details all transactions on the account and a reproduction copy of our notice of notice of assignment dated 8th April
2008, which you have received, as it was upon receipt of this letter that you first contacted Cabot.
In conclusion, we are perfectly within our rights to enforce the debt against you as your arguments are cleariy unfounded and
you have no basis for your dispute or claim for failing to pay the outstanding balance under the credit agreement. Therefore I
would recommend you contact our collections department, within 14 days, on 0845 0700 116 to discuss the options available
to you in order to settle this account. I must inform you that if we do not hear from you within this time frame we will have no
alternative than to return your escalate your account within our collections procedures.
I trust I have set out our position clearly and have dealt with your concerns to your satisfaction. However, if you remain
dissatisfied with our response, you may refer your concerns to the attention of the Financial Ombudsman Service, within 6
months of this letter, who may investigate your complaint. Please find enclosed a leaflet from the Financial Ombudsman.
If you have any other queries in relation to the above account, please do not hesitate to contact me on 0845 026 0463. The

crazyhaggid

Would anyone like to comment on what they have said?