Cabot Financial

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This discussion was created from comments split from: Cabot Financial- prove it sent help with their reply.

Smiffie

I’m in sort of the same dilemma as I received a letter and a lot of phone calls from Cabot Financial saying that I owe a debt that I have no knowledge of so I sent them a letter asking them to provide original documents that I signed from Newpay (Never heard of them), after about 2 weeks I received an email from them with a letter from Newpay which I never received and documentations from Cabot Financial but no signed agreement from Newpay and still demanding that I pay the outstanding monies.
please could someone help me by letting me know which way to go now as I did reference that they would need to send me evidence of my liability for the alleged debt and if they cannot do this that to please send me written confirmation that this account is now closed.. I also asked Cabot Financial to stop Collection activity whilst investigating my dispute that they are breaking FCA rules and guidance. Also, ignoring claims that accounts are in dispute and continuing to make unjustified demands for payment is harassment.
can some please help me as to what I need to do now as I’ve still not been given proof from Newpay (Who I have not heard off until the debt collection harassed me constantly for payment), I asked for date I was supposed to take this out, what it was used for all signed agreements that I signed etc but only was sent one letter from Newpay saying that they are giving my debt to Cabot Financial and only some paperwork from Cabot Financial about them buying this debt and to contact them to set up payment. I was being harassed everyday prior to this and now I’m afraid that they are happy with what they sent me by email just stating from Cabot Financial is taking over the debt.
no proof of when and what this debt was for.
I would appreciate any help please? Thank you in advance.

sourcrates

This is an old thread to resurrect, you would have been better starting your own new one.

Its New day, not New pay, they are the financial backers behind many high street store cards/credit cards etc, far too many to list here.

If Cabot haven`t provided proof of liability write back and ask them to do so, or you will register an official written complaint with then.

MSE_Stephen

@Smiffie - We've split this into a new thread for you.

Smiffie

Thank you, sorry, I’m not use to this.
i got a reply back from Cabot Financial and all I was sent was what Cabot had written like when it was taken out, not who with, they call it Newpay then in other parts they called the company Newday, I have no cards from 2009, I’m paying off the only card I have which is an Argos Card so it can’t be them. They also sent me a letter with no company name & address on which I have never received plus 3 more pages from them saying they have bought the debt, does this count as the original agreement as I do not think it does so I emailed back the same letter giving them 14 days to send me the original documents or to close the account. I am unsure if this was correct and what to do next as they did not provide the original signed agreement by myself with the said company who they bought the debt from?

thank you in advance.

ManyWays

Last year Newday took over the Argos card business (see https://www.newday.co.uk/who-we-are/news-and-awards/2024/acquisition-of-argos-store-card-portfolio-and-new-long-term-relationship-with-argos/)

I suggest you send Cabot a formal request for the Consumer Credit Agreement for this card. See  Credit agreements | Getting information | National Debtline

sourcrates

I have moved your thread to a board better suited to the subject matter.

I would advise caution sending a request under sec77-79 of the Consumer Credit Act 1974 asking for copies of the credit agreement, as you are unsure if the debt is yours or not.

If you want them to prove your liability for the debt then normally the prove-it letter is all you need.

Quote other Acts etc and you complicate what is essentially a simple matter.

If you've sent the prove-it letter (by recorded delivery preferably) and not had a sensible response then you need to take it further.

If they persist with their collection activity, something like this might wake them up:

Dear [Debt Collection Company],
COMPLAINT

On dd/mm/yy I asked you to provide proof that I owed the alleged debt to xxxxxxx. I attach a copy of my letter.

The FCA rules are clear that ” Where there is a dispute as to the identity of the borrower or hirer or as to the amount of the debt, it is for the firm (and not the customer) to establish, as the case may be, that the customer is the correct person in relation to the debt or that the amount is the correct amount owed under the agreement.”

I do not owe this money. You have failed to produce any evidence that I do. If you do not cease contacting me about this debt I shall be complaining to the Financial Ombudsman.

[Please also delete the incorrect entries from my credit records.]

Your name

Going to the Ombudsman – which Ombudsman?

If the debt collector ignores this second letter, then I suggest you complain to the relevant Ombudsman after 8 weeks. During this time, make sure you keep a record of any more demands from the debt collector – by phone, text, email or letter.

This will be the Financial Ombudsman (FOS) if the debt appears to be a loan, credit card, catalogue or an overdraft.

For other types of debt (energy bills? mobile phones? etc) there are different Ombudsman. Sometimes one will be mentioned on the letter you have received. If not, phone National Debtline and ask who they think you should complain to.

Free/impartial debt advice: National Debtline | StepChange Debt Charity | Find your local CAB

Smiffie

I received a letter just now from Cabot Financial (I quoted 14 days) to say that they need an extra 30 days even though I sent them a letter from Money Saving Expert requesting the original documentation but they sent me a so called letter from Newpay just saying that Cabot Financial had bought my details and debt (I still have no idea what for) and paperwork from Cabot Financial to say they bought the debt so I once again sent them an email stating that I have not received either of the documents shown plus I requested the original documents were I was supposed to have signed for the master/Debit card and gave them another 14 days to send this to me but the letter I have is saying they need 30 extra to get original documents as well as any other documents and if they are unable to provide our response within this timeframe that they will write to me with an update. This seems a long time to wait as I contacted them back in July 2025 and never received the original documentations that was 14 days now they were given another 14 days to provide the original documentation plus they today sent me a letter wanting an extra 30 days on top of the 28 days that they have already had now total days they require is 58 days which I personally find unacceptable as they knew from my first email what I requested. 

Can someone please help me and please let me know what my next move is? I believe that Cabot Financial have had enough time now but does the law say this?
thank you in advance.

Grumpelstiltskin

I am afraid nothing moves fast in debt collection, you just have to wait and see if and what they come up with.

sourcrates

An official request for information is made under sec 77/79 of the consumer credit act 1974.

The act states:

The creditor has 12 + 2 days to respond to a request made under sec 77 CCA, otherwise the debt in question becomes unenforceable until such time they do respond.

This was written originally in 1974, long before the internet age, so it requires a statutory payment of £1.

Without the statutory payment, it is not an official request, so the above section of the consumer credit act will not apply to the letter/email you sent them, so there is no statutory time frame for them to respond to you.

In practice a debt purchaser has to go back to the original creditor to obtain such information, and this can take many months to find on occasion, so your 58 days is much less than the average wait times.

Rob5342

I wouldn't chase them. It's in your interest for them to bumble around and not actually produce it.