In a bind with Cabot Financial

Lydgate_2

The story in a nutshell:

Prior to 1997 I had a creditcard with a company called City Financial. In April 1997 I cancelled the cardand paid the balance owing.

In those days I paid by chequebut by the time the final balance cheque was cleared, a small amount of interestwas added. I paid this but then the same thing happened.

So I phoned the company andwas assured that the account was closed and the few pence owing would be discounted.

This seemed to be the case asno further statements were sent.

We have moved house twice sincethen but in each case took a year’s redirection from the Post Office – no furthercommunication of any sort was received.

In October 2011 I received twocalls from a company called Cabot Financial who claimed that I defaulted on theCF account in 1997 to the tune of less than £50. I cannot imagine how£50 hascome to be owed unless by some process of compound interest.

I explained about the phonecall but to no avail, they insist that the sum is owed.

I quoted the limitation act1980 Section 5 “an action founded on simple contract shall not be brought afterthe expiration of six years (5 years in Scotland) from the date on which thecause of action accrued.” The following is a verbatim record of what was said:

Me: Would you like to tellme what action you’re going to take?

Cabot: What do you mean bythat? I’ve already explained, we can’t move it for any legal action.

So you would think that thisis case closed but 6 months later they have begun phoning again.

I contacted the Debt AdviceFoundation. Their advice is to not give out personal info over the 'phone butCabot say they require this to write to me. DAF also pointed me to theirproforma letter but this requires me to give account details and, from so longago, of course I don't have them.

I'd desperate to clear myname as I'm never in debt and always pay at the earliest opportunity and I wantthe calls to stop. What can I do!

Thanks all.

Lydgate

Eonel

You already know what to do by quoting the Statute of Limitations to them previously.

Six months on it may be necessary to remind them of this in writing. In the same letter you can remind them of the rules around harassment.

I would not get hung up on "clearing your name". In reality your name is already clear & these people are just trying it on.

Lydgate_2

Thanks for this Eonel but the bind I'm is that they keep phoning and I've been advised by the Debt Advice Helpline not to confirm my personal details. So Cabot won't talk to me, so I can't get the account details to send the Statute of Limitations letter so they keep phoning...

samiesnake

ok im not sure if these are the same people but i had a letter today from a debt collector as my debt has been passed to them. this debt is from CABOT FORMERLY CREATION for £104 so i emailed them a unfortunately i have confirmed my details and they have replyed and said it is a store card account for etam.... an account i held 10 years ago and closed 8 years ago or so i thought i had... i never get any form of credit cards or loans or store cards but im guessing these CABOT is the same as your one so maybe they are going after lots of people for things we barely remember...

labelman123

samiesnake wrote: »

ok im not sure if these are the same people but i had a letter today from a debt collector as my debt has been passed to them. this debt is from CABOT FORMERLY CREATION for £104 so i emailed them a unfortunately i have confirmed my details and they have replyed and said it is a store card account for etam.... an account i held 10 years ago and closed 8 years ago or so i thought i had... i never get any form of credit cards or loans or store cards but im guessing these CABOT is the same as your one so maybe they are going after lots of people for things we barely remember...

I don't think thats the same company. I had a Cabot Financial but that was a while back. Type it into google, and if there is a tie you are bound to find it.

fermi

By FORMALLY, they mean that is who the debt was originally taken out with.

Cabot buy up debts from other lenders to collect. In this case, they've probably bought the store card debt from Creation Consumer Finance, who are the company behind many store cards.

fermi

samiesnake wrote: »

ok im not sure if these are the same people but i had a letter today from a debt collector as my debt has been passed to them. this debt is from CABOT FORMERLY CREATION for £104 so i emailed them a unfortunately i have confirmed my details and they have replyed and said it is a store card account for etam.... an account i held 10 years ago and closed 8 years ago or so i thought i had... i never get any form of credit cards or loans or store cards but im guessing these CABOT is the same as your one so maybe they are going after lots of people for things we barely remember...

See the info in this link.

---> https://forums.moneysavingexpert.com/discussion/2606811

The letter/email to send in post 5 is probably the most appropriate to reply with

---> http://forums.moneysavingexpert.com/showpost.php?p=34906257&postcount=5

Lydgate_2

Dear all and fermi as board guide in particular.
Your help is much appreciated.
I've looked at all the letters and they all require an account number but this was in 1997 and I don't have any details anymore. Cabot will doubtless be required to quote a number but that requires me to answer their security questions and I've been advised not to do that so as I say, I'm in a bind here. Any further advice very much appreciated.
L

inmypocketnottheirs

Lydgate wrote: »

Dear all and fermi as board guide in particular.
Your help is much appreciated.
I've looked at all the letters and they all require an account number but this was in 1997 and I don't have any details anymore. Cabot will doubtless be required to quote a number but that requires me to answer their security questions and I've been advised not to do that so as I say, I'm in a bind here. Any further advice very much appreciated.
L

Don't do anything. Ignore any correspondence and put the phone down on them. Will not take any further action.

They are trying to intimidate or harass you into paying an uncollectable (even if it existed) debt.

By getting stressed about you play into their hands.

giblet10

I had awful trouble with them - they were trying to collect on an expired debt included in an IVA I did years ago.

In the end it took the OFT to order them to stop contacting me - they are utter scumbags - they ignored my letters, emails etc - they basically ignore the law and spirit of debt collecting.

But as others have said, it's statute barred simple as that.

Snowedunder

Depending on your telephone supplier there might be a way to bar their telephone number, although they are known to use several to get round this advice.

Report them to the OFT and Consumer Direct (via Trading Standards) and when you receive the next call, without giving any details request that they contact you in writing.

Unitl they stop calling, might I suggest that you have a loud whistle by the phone and once you know it is them, blow it down the ''phone!!

Good luck with this, as has been said before they are the lowest of the low!