Cabot Financial

cmaj31

Hello folks,

I had a letter from Cabot in early December about an debt owed to DFS about 3 years ago. So after reading the great advice on this forum, I requested a copy of the original credit agreement with my £1 postal order via recorded delivery on 17/12/07. I received a letter back on the 23/12/07 from Cabot saying that they were not the original credit company but they would get the copy from DFS (I think the actual credit company was Nova retail) within the 12 days allowed.
It is now 10/01/08, well over the 12 days. I just need to know what happens now and do I need to do anything else.

Thanks

mumofthreemonkies83

Hi CMJ

Im not very knowledgable with these things but im going through exactly the same thing with Cabot.I sent the CCA and got a letter saying they were going to ask the original creditor yadda yadda.Time limit is up and nothing received.

All I can advise is DO NOT phone them...EVER!
I called them last week because I needed to know what was owing on the balance (Ive been paying mine every month).
I requested my balance and was given it ok, just as I was about to put the phone down the cabot guy says well actually its not ok (the debt at this time) and they wanted more each week....I mentioned having sent them a CCA and them not responding and to cut a long story short we ended up in a blazing row and I have now sent them a harassment letter :T

Please though, whatever you do dont phone them
Best of luck hun
Mumof3

cmaj31

Update

It is now 12+2+5 days since sending my request. Yesterday they wrote and said it was taking longer than expected to get the credit agreement and as a gesture of 'goodwill' they will freeze the account until they receive it.
Now that the 12+2 days are up, what do I need to do now?

suelumsden

I have a debt with barclay card that was purchased by Cabot. They used some really awful bully boy tactics (but fair enough it was my debt I owned up to it, but I was paying someone else and they told me Barclaycard had recalled the debt and to stop direct debit) Anyway, I started paying Cabot £35 a month last year, they phone from time to time and say they will start court proceedings unless I pay more each month - I have said I cannot physically pay anymore so go ahead, I have ended up in tears on more than one occasion. Anyway, I then decided to try to get my charges back from Barclaycard and they wrote to me in August 2007 saying their charges are fair blah blah blah etc etc. But as a goodwill gesture they would credit the account with Cabot by £176 + interest of 8%. I thought they would do this although I wasnt happy as the original charges amounted to £655 but I couldnt afford the court cost at the time. Anyway, I went onto the Cabot website yesterday and the money had not been credited and I was dismayed to see that they have added interest to the balance and I now owe £400 more than I did this time last year although I have never missed any payments. I dont know what to do, can anyone help with the way forward. I cant afford to pay more than £35 a month. Please advise. sue x

cmaj31

I have now had a letter saying that they are very sorry but could not get the copy of the original agreement in time but they would very kindly hold the account until they could get hold of it.
Now that the time period has expired can they still try to reclaim the money????????

denerobt

no CCA no enforcement!!

I would suggest having a look at the other threads, as there is some brilliant advice about just this situation. Not sure if the debt is enforcable or not as you admit the debt is yours. I may be wrong on that one though.

good luck though and I hope you end up with good news :T

cmaj31

Thanks for the info.

I will have a look at the other threads. I have all through my correspondance started the letters with I do not acknowledge this debt so maybe I'm ok???

RAS

cmaj31 wrote: »

Update

It is now 12+2+5 days since sending my request. Yesterday they wrote and said it was taking longer than expected to get the credit agreement and as a gesture of 'goodwill' they will freeze the account until they receive it.
Now that the 12+2 days are up, what do I need to do now?

They are in default and are no longer legally able to collect the debt. Ignore the guff about goodwill and make sure any DD or SO is cancelled.

As long as you used 12 working days in your original calculations, once 12+2+30 are up (about a fortnight now), send the bogoff letter. That means you know they are committing a criminial offence if they try to collect.

At that point you also need to report them to the Trading standards.

dino246

testxxxxxxxxx

dino246

Hi Every body, just got into this site as I have just found out about this procedure and nedd some questions answered.

1) Is all unsecured debt able to be written off ?, as i have overdrafts, flexiloans as well as c/card and personal loans going back 7 years that are with Debt collection companies.

2) Is the debt written off if they cannot provide a copy of your signature on the agreement ?

3) As I have been paying thes Dc for 7 ears with token payments, signed letters of aknowledgment of my debt, does this make any difference ?

4) Will experien remove the default notices

5) can the creditor claim the debt back at any time in the future if the do not comply to these letters ?

6) I have one DC who sent me a letter today saying that the debt has been asigned back to HBOS in febuary this year, even though they have received payments form me from this date. I phoned them and they have asked me to stop making payment and to contact HBOS direct and that they have forwarded all payments onto HBOS. Do i send the letter to this DC or HBOS or does it not matter.
7) can someone post all the letters that i would require to send. i have seen a number of copies on this site, however i am not sure which one to sen first and therafter.

8) I have 70k of unsecured debt and i am basically bankrupt. did not want to do this in the hope that i could pay it back one day but if i cna use the law to write it off this would be a huge burden released for me and my family.

all help will be much appreciated,

bargainbetty

Dino,

I suggest you start a fresh thread for your questions, as more people are likely to view it if you have a specific title.

Good luck to both of you. x