Cabot Financial Europe Ltd

spyder13

I have been reading all the threads on this site regarding this company and have followed through with all the sample letters. Needless to say I have had no satisfactory response. I have now sent my final letter and wondering what to do next. has anyone ever taken it further? and if so what happened?

trying-very-trying

It would seem from other posts that I have read, you should just stop payments. hth.

fermi

Can you expand a little on your situation, and exactly which letters you have sent and to what purpose?

Any next step (if any) depends upon what you have done so far and why.

spyder13

thanks fermi. i wrote for the cca agreement in june. they told me it could take 8 weeks to get it and promptly used my £1 in reduction of my debt. After the statutory 45 days or so I wrote in July to say the time had passed and as I received no cca agreement or statements showing the balance or why the debt had increased,that I now considered they were unable to legally call in the debt and I was stopping payments until the paperwork was produced. On 2 August I got a letter thanking me for my "complaint" and stating it would take another 10 days to complete. on 29 August I received yet another letter telling me it would still be another 10 days. I have still received nothing. I told them in July that i would be referring them to OFT, Trading Standards, Local MP etc and asking for a full refund of money paid to them together with interest. I have stopped payments. National Debtline suggested I refer them to the OFT which I did two weeks ago but they cannot deal with individual cases. So do I now need to contact a solicitor and follow thru on my threat or just sit back and see what they produce - eventually!

trying-very-trying

If you do go down the solicitor route, would you be able to claim legal aid?

trying-very-trying

Just thought I'd bump this up. I'm sure some of the mse big guns must be able to help.

mel001

rather bizarrely we have just received a random refund through the post for 66 pounds from cabot - it is regarding an argos card that we were paying off - but there is no explanation as to why they have refunded - i can only think that it is because of charges that were made to pay ages and ages ago, but i really don't have any idea! Oh well, 66 quid is 66 quid! LOL

spyder13

I have today received a further letter from cabot saying that they are not obliged to provide any information under the CCA sections 77-79 but as a gesture of goodwill they will cease any collection activity until such time as the original agreement can be found and sent to me. I still don't understand why they cannot provide statements for the money i have been sending them for the last 6 years or more. However, I'm happy to wait and see what they find. The OFT have replied and thanked me for raising the concern and they will "deal" with it although they are restricted in what they can do! Next step I guess is to raise it with the financial ombudsman. Should I do that now? What would it achieve? Thanks all

Hippocampus

Certainly complain to the FOS. You can download a form from their website. They'll charge Cabot £400 to investigate. But basically, you need to complain because they have been taking money from you without having any proof that they have a right to do so. You have quite rightly questioned their right to do so, but they are playing silly beggars.

And if they had no right to your money, and cannot prove it, then you might question whether they had any right to be processing your data at all. Including registering adverse data with the CRA's.

I'm just starting to take them to court. You don't really need a solicitor. I'm doing them for breaches of the Data Protection Act 1998. The ICO's website has soe very useful leaflets to help you do it yourself.

spyder13

Thanks hippocampus. I'd be interested to hear how you get on with your court case. In meantime I will refer to the FOS.

spyder13

Well just as I thought I had heard the last of this I received a letter on 15 March enclosing a copy of the original credit card application form and 4 pages of regulations showing that the company could transfer my debt to anyone at any time.It has taken almost 9 months to get this. Is this a legally binding agreement? Cabot have stipulated the o/s debt which has risen by over £2000 but have failed to provide statements and I have 14 days to contact them to discuss options. I still want to know what happened to all my payments and why the debt has increased when they had already confirmed that interest and charges had ceased. They now say that they will escalate collections proceedings if I don't reply in 14 days. Where do I stand now? Should I send a S.A.R for more information? Would I get it??
I deleted their bank details for payments and their online system will not allow me access to my account to see what's been happening. It's a nightmare all over again. I hope someone can help me. Thanx