Cabot Financial - what, when, how, why!??!?!?

Just_Di

Ducktheduckling wrote: »

Thank you Di,

Does this essentially mean that if they cannot produce the original contract that I can refuse to pay and ask for the account to be closed?

It'll be easier to answer that question when you've answer my questions in post #6

What year did you open this account and how (online, response to an invitation letter etc)?

They may not need to produce the original credit agreement if they can produce an 'honest and accurate' reconstituted version.

Section 77-79 CCA is for 'information' purposes not 'proof' purposes, so they may send you 'something' which satisfies that statutory duty, but fails to pass the test of another part of the Act.

In Santander v Mayhew (me ) I lost on s78 CCA but won on several other legal arguments so the claim was dismissed.

Any decision to close the account is likely to be a commercial one based on the balance outstanding and the cost of attempted recovery etc. How much is this debt?

Di

Ducktheduckling

Just_Di wrote: »

It'll be easier to answer that question when you've answer my questions in post #6

What year did you open this account and how (online, response to an invitation letter etc)?

In Santander v Mayhew (me ) I lost on s78 CCA but won on several other legal arguments so the claim was dismissed.

Any decision to close the account is likely to be a commercial one based on the balance outstanding and the cost of attempted recovery etc. How much is this debt?
Di

Wow that's impressive regarding your win on Santander.

Hand on my heart I don't remember exactly when the original account was opened but I have a feeling it would have been around 2009 and again I'm not sure how it was opened, the reference Cabot use is "Car loan" so it could have been for an old HP but if it is the car was wrote off in 2009 I think. The debt is circa £6k.

Ducktheduckling

Sorry just wondering if anyone heard from Di

Just_Di

Ducktheduckling wrote: »

I don't remember exactly when the original account was opened but I have a feeling it would have been around 2009 and again I'm not sure how it was opened, the reference Cabot use is "Car loan" so it could have been for an old HP but if it is the car was wrote off in 2009 I think. The debt is circa £6k.

Presumably you've sent your s 77-79 CCA Request to Cabot as suggested? This places the ball in Cabot's court to prove the debt exists and is enforceable.

It's a waiting game now to see what they produce. In my experience this can sometimes be up to two years!

If it was a loan to purchase a car which was written off in 2009 then what happened to the car finance/loan and was there a payout from any insurance company at the time?

Letters from Cabot normally name the original creditor in the bar down the right hand side. If it simply says "Car Loan" that could indicate that they don't know who it was if this was assigned twice i.e. once from the car finance company to Apex, and then assigned again from Apex to Cabot. Information can get lost in transition with assignment chains.

Understandably you want to know where you stand sooner rather than later, but there are too many 'unknowns' at the moment to speculate.

Di

Ducktheduckling

Hi Di thank you for replying.

I found some old letters from Cabot that refer to the originator as "Capital Bank - car loan"
Should i send a SAR to Capital Bank before sending the 77-79 CCA request to Cabot?

I think my parents sold the car to a scrap collector for 500 and paid the money they got towards the debt.

sourcrates

Ducktheduckling wrote: »

Hi Di thank you for replying.

I found some old letters from Cabot that refer to the originator as "Capital Bank - car loan"
Should i send a SAR to Capital Bank before sending the 77-79 CCA request to Cabot?

I think my parents sold the car to a scrap collector for 500 and paid the money they got towards the debt.

Is this likely to be your parents debt then, and not yours ?


What name are the letters addressed to ?

Just_Di

Ducktheduckling wrote: »

Hi Di thank you for replying.
I found some old letters from Cabot that refer to the originator as "Capital Bank - car loan"
Should i send a SAR to Capital Bank before sending the 77-79 CCA request to Cabot?

I would do both at the same time

Di