Cabot Financial

bigadaj

I had a problem recently with mina and nothing got done until after raising as a formal complaint and suggested taking to fos. In the end left it with a small compensation payment and clsed the account but laughed when I suggested that as this was going to charity ey could up it to fifty quid from twenty five, not appropriate was the response. My problem seemed to come from lack of staffing, poor IT etc and my argument was that if they did have to payout a moderate penalty for each instance they may well improve their systems as it would make commercial sense. Cabot make mina sound good, which is some statement!

giblet10

pnw72 wrote: »

Thanks for the reply. Could you let me know where your posts are & I'll have a read through.

My wife received a letter from a credit card company which she has, but doesn't use anymore. It stated that following a review of her account, they would be reducing her credit limit by around 90%!!!!

I now realise this must be sorted ASAP.

I'll look into the ICO. I was also thinking of writing to our MP, as this truly scandalous.

My wife has still not had any reply from Capital One at all. We are still waiting for a reply from Cabot after she sent proof of where she was living at the time the defaulted account was set up.

Capital One are the main culprits here, as they initially linked my wife to the other lady with the different middle initial.

I assume financial institutions can see all the information that we can see on a credit report. If it clearly states where someone has been living, how long they lived there and previous addresses & dates, how on earth can they link someone who lives about 70 miles away, just because they happen to have the same first & last name.

I wonder if it's possible to claim any damages over this? One wonders if a financial penalty would make these companies a bit more careful how they attempt to claim money owed.

Best regards & thanks for your help.

Hi PNW,

I can't find my posts on Cabot but essentially looking through yours I personally think this may be better dealt with by OFT rather than ICO. Mine was definitely an ICO issue as the information was wrong but facts were correct at one time (from an IVA I did). Cabot just wouldn't remove it despite the default in question being time up..

In your case Cabot is chasing you for a debt that clearly isn't yours and they don't appear to be doing anything about it. The OFT licences debt collectors and other bottom feeders in the credit industry - they also enforce the rules and there are plenty of cases where DCAs have been reprimanded in the past, some have even had their credit licences revoked.

If your wife doesn't use the credit card you mentioned it's possible that this is the reason why her credit limit has been reduced - did they give a reason for why? HSBC tell you, for example, that it's down to lack of usage. But that said, many credit card companies now share information monthly via 'CAIS' feeds to try and stem over indebtedness by individuals with two more more cards from different providers. It could be that this default has triggered a review of your wife's credit card - again, something that the OFT should be made aware of..

Don't expect much help from Cabot - once they have a debt, they don't even satisfy themselves of the validity of it - they just want you to pay..I'd honestly go to OFT at your earliest convenience.

Unless you're hell bent on compensation, the more satisfying response from OFT would be for them to take action against Cabot. There are many complaints about them on here and if the OFT get enough complaints from consumers then they will act against them.

It will get sorted out - don't lose sight of that. Remember, the onus is on them to prove the debt is yours..they can't do that and they're trying it on. It's painful and frustrating to deal with, but will get sorted..

Giblet

pnw72

giblet10 wrote: »

Hi PNW,

I can't find my posts on Cabot but essentially looking through yours I personally think this may be better dealt with by OFT rather than ICO. Mine was definitely an ICO issue as the information was wrong but facts were correct at one time (from an IVA I did). Cabot just wouldn't remove it despite the default in question being time up..

In your case Cabot is chasing you for a debt that clearly isn't yours and they don't appear to be doing anything about it. The OFT licences debt collectors and other bottom feeders in the credit industry - they also enforce the rules and there are plenty of cases where DCAs have been reprimanded in the past, some have even had their credit licences revoked.

If your wife doesn't use the credit card you mentioned it's possible that this is the reason why her credit limit has been reduced - did they give a reason for why? HSBC tell you, for example, that it's down to lack of usage. But that said, many credit card companies now share information monthly via 'CAIS' feeds to try and stem over indebtedness by individuals with two more more cards from different providers. It could be that this default has triggered a review of your wife's credit card - again, something that the OFT should be made aware of..

Don't expect much help from Cabot - once they have a debt, they don't even satisfy themselves of the validity of it - they just want you to pay..I'd honestly go to OFT at your earliest convenience.

Unless you're hell bent on compensation, the more satisfying response from OFT would be for them to take action against Cabot. There are many complaints about them on here and if the OFT get enough complaints from consumers then they will act against them.

It will get sorted out - don't lose sight of that. Remember, the onus is on them to prove the debt is yours..they can't do that and they're trying it on. It's painful and frustrating to deal with, but will get sorted..

Giblet

Thanks Giblet.

I've already sent an email requesting a surgery appointment with our MP. The more people who know, the better.

I'll get on to the OFT website now.

Thanks again