Cabot

samma_2

Hello All

I have had an arrangement with CABOT FINANCIAL since May 2008. I pay £10 per month of a debt of over £5000.

They said that as long as I made the payment each month, they would suspend Interest.

I have logged onto my account today and I find that the debt has accrued over £600 in interest.

I have no chance of ever paying back the amount as it grows, as I am out of work due to disability and will not be able to work again.

I have the arrangement being paid by D/D and I have decided that, as I can't trust them (and their aggressive collectors!) I want to change this to S/O, but I can't find the Sort code/Bank account number anywhere on their paperwork so that I can make the change.

Does anyone know where I can find this information?

Thank you.

fermi

What sort of debt?

When from?

Knowing this bunch I would cancel the direct debit and demand alternate payment details.

But first I would probably make them prove they have the right to collect this.

samma_2

Hello Fermi
Thank you for your quick response, it is appreciated.

My debt is on a Credit Card sold on by HFC last May ( it was an Orange Marbles Card)

I had a phone call from them last November which was harassing me to increase to £84 per month and I could not afford to do this and eventually they said to ring them back with a I/E but I rang them back the next day and just told them that I could not afford the figure they wanted and they accepted the figure to stay at £10 ..but I wonder now if that is when they added the interest to my account.

I did not ask to see a CCA as I did not know anything about them until I had already started paying the DCA.

I want to cancel the DD, and that is why I want to have a SO in place to pay them with.

(I have tried very hard for the last 10 years to pay my way or at least pay something to my creditors but defeat is at hand so I am considering a DRO as I also owe Lloyds over £1000, but I have been holding off as I may have to go Private Rent and was worried if this would go against me in a Credit Check...even though the default on my CC may already have this go against me)

fermi

When was the card ( I presume) first taken out?

If they are currently taking unmanageable amount via DD, then I would cancel that ASAP.

If you are at the point when things like a DRO are looking possible, then talk to the organisations in my signature. It is scary to do, but believe me worth it.

I know many people you have gone fully bankrupt and have still been able to rent, so don't be too concerned about that. Just take some free/professional advice and don't be scared.

samma_2

I don't know when the card was taken out, the oldest paperwork I have is from 2005, but it was sometime before that, if I remember correctly.

So if I cancel the DD, without a SO in place to pay with, they are going to come after me like a pack of Wolves aren't they?..I am not due to make another payment until 01 June 09..so I have a small amount of time to play with...I will get some figures in order and then ring an organization tomorrow..seems to be the only way forward for me either way

fermi

Right. That means you send to them with a £1 postal order.

This letter is a formal request pursuant to s.77/78 of the Consumer Credit Act 1974. I require you to provide me with a true copy of the credit agreement relating to the above account, together with any other documentation the Act requires you to provide.

I expect you to comply fully and properly with this request, within the statutory time limit. You are reminded that should you fail to comply with my request, the provisions of s.77 will apply.

If it is your view that you are not the creditor, s.175 of the CCA 1974 applies in the case of a simple assignment, and places a duty upon you to pass this request to the creditor. In the case of an absolute assignment, you are a creditor as defined by s.189. If you contend that you purchased the rights but not the duties of any agreement, you are reminded that s.189 of the Act is clear that an assignment is of both rights and duties.

Your attention is drawn to ss.5(2), 3(b),6 and 7 of the Consumer Protection from Unfair Trading Regulations 2008 (CPUTR).

I enclose a postal order in the sum of £1.00, which is the statutory fee. Note that these funds are not to be used for any other purpose.

If you are unable to comply fully and properly with this request, you should confirm this in writing at the earliest opportunity, and certainly within the statutory time limit for compliance, and return the fee.

We look forward to hearing from you.

samma_2

Thank you Fermi
I really appreciate your quick and concise advise..I will cancel the DD and type this letter up now and get it sent...time to take the bull by the horns etc etc:rolleyes:

fermi

Good.

If/when you get a reply, then post back.

Cabot are notorious for trying to mislead you regarding the legality of their replies/responses.:rolleyes: Don't take their word for it. Post back so we can see what they say.

keith_lard

Samma check your private messages!

k.

samma_2

I will keep you up to date with my progress, thank you both

keith_lard

have sent the correct letter for you via private mesage.