Cabot Financial Limited

[Bobthestarfish]

Hello fellow forum'ers,
I have a debt against my name (not actually on my credit score) for reasons I’m happy to go into but it involved an abusive r/ship and lots of mental health issues.



The following details are what I know of this debt:



Dec 2007 a loan for a car was taken out with Capital Bank for circa £5k
I fled the UK, Jan 08 to escape above situation.
Returned to UK in 09. Ex-partner sold car for £500 which was paid towards the debt in May 2010.
Upon returning the UK - Considerable amount of debt I agreed token payments/lower settlement figures etc with help from my Mum.
I was paying from £1 - £20 from 2014 – 2016 to Apex until Cabot took over in 2017.
I stopped paying the debt to Cabot and I sent a request to statue bar the debt which was denied because they sent proof of my payments to Apex.
Requested a discounted settlement figure. Cabot offered 20% discount. I was not able to pay due to money issues.
Cabot sent a letter to advise they were giving me a grace period of 6 months due to money issues.
Within this 6 months I looked into “Unenforceable debt” due to not having the original credit agreement.
When my 6 months was up (Jan 19), I sent a letter requesting a copy of any credit agreement under the CCA 1974 (sections 77-79)
My request was ignored but a letter sent from Cabot (Mar 19) to convey that my account was now moved to their ‘Sensitive Support team’ and can I get in touch within 30 days.
I responded to this letter (Mar 19) to highlight that my request was still outstanding and again asked for a true copy of the executed agreement that contains the prescribed terms.
I have not received any more correspondence since but I have been seeking SAR requests in the mean time from creditors to find this original agreement.
I have now received a SAR response from a creditor that encloses the original credit agreement (signed by me)


My heart sank when I received the original credit agreement from the creditor because of the circumstances I was in at the time but cannot prove this to the courts or creditors.



Can anyone give any advice on my situation please… I would be grateful to know if I still have a chance to close this account under the CCA 1974?

[The Tech Clerk]

Might pay to get advice from Diana Mayhew proably pop in ?

[Joanna Connolly Solicitors]

Might pay to get advice from Diana Mayhew

Our initial advice is always free

Di

[Joanna Connolly Solicitors]

Dec 2007 a loan for a car was taken out with Capital Bank for circa £5k

. . . . Ex-partner sold car for £500 which was paid towards the debt in May 2010.

. . . . I agreed token payments/lower settlement figures etc . . . I was paying from £1 - £20 from 2014 – 2016 to Apex until Cabot took over in 2017.

. . . . I stopped paying the debt to Cabot and I sent a request to statue bar the debt which was denied because they sent proof of my payments to Apex.

. . . . Cabot sent a letter to advise they were giving me a grace period of 6 months due to money issues. . . . When my 6 months was up (Jan 19), I sent a letter requesting a copy of any credit agreement under the CCA 1974 (sections 77-79) . . . . My request was ignored but a letter sent from Cabot (Mar 19) to convey that my account was now moved to their ‘Sensitive Support team’ and can I get in touch within 30 days.
I responded to this letter (Mar 19) to highlight that my request was still outstanding and again asked for a true copy of the executed agreement that contains the prescribed terms.

I have not received any more correspondence since but I have been seeking SAR requests in the mean time from creditors to find this original agreement.
I have now received a SAR response from a creditor that encloses the original credit agreement (signed by me)

Hello

May I ask you a few of things before offering my opinion.

What is the exact full name of the original creditor who provided the car loan?

Did you have PPI on the loan?

Was your letter to Cabot requesting your credit agreement a formal request including a £1 payment for the statutory fee? You say Cabot ignored it but did they acknowledge it in any way?

Who did you send your SARs to? Was it Capital One or Cabot or both?

You say you've received a SAR response enclosing the original credit agreement so who (by name) sent that to you?

Some debt purchasers don't have the automatic right to certain information from the original creditor so it's important to know who sent you what before suggesting your next step.

Di

[Bobthestarfish]

Hi Di,

Thank you for your time... I do really appreciate it as there is only so much you can read before getting lost.

From the paperwork that Cabot have sent me, the full name of the original creditor is "Capital Bank - motorloan"

I'm not sure about PPI - I will read through the 300 pages that the creditor sent me and get back to you.

I did include a cheque of £1 in my letter dated Jan 19 but not Mar 19.
Cabot did not acknowledge my request in any shape or form. They simply sent a letter to inform me my account had moved to the Sensitive team and I MUST contact them within 30 days.

I sent my SAR requests to Capital Bank and Black horse but now you mention it, I received replies back from these two that advised me they couldn't find any data on me. I wonder if this has now come as a result of Cabot Financial responding to my request... The original credit agreement has been sent to me from Halifax and I'm pretty sure I did not send any requests to Halifax

[Joanna Connolly Solicitors]

From the paperwork that Cabot have sent me, the full name of the original creditor is "Capital Bank - motorloan"

I'm not sure about PPI - I will read through the 300 pages that the creditor sent me and get back to you.

I sent my SAR requests to Capital Bank and Black horse but now you mention it, I received replies back from these two that advised me they couldn't find any data on me. I wonder if this has now come as a result of Cabot Financial responding to my request... The original credit agreement has been sent to me from Halifax and I'm pretty sure I did not send any requests to Halifax

What address did you use for your SAR to Capital Bank?

Did you send a SAR to Halifax or did you send a s 77-79 CCA Request to Halifax?

Have you ever had a loan from Halifax? Is the signed credit agreement Halifax have sent you for the £5k (approx) car loan and dated December 2007?

Why did you send a SAR to Black Horse?

Di

[Bobthestarfish]

Di,

I've just got home and properly read through the response from the creditor. Apologies for my mistake but ignore what I said previously.

I sent SAR requests to Capital One Europe Plc, NG2 3HX and the Bank of Scotland, SP10 1RE.

The Bank of Scotland replied a week ago with headed paper asking me to go into a Lloyd's bank and show identity to obtain my records as my D.o.B is different to their records.
I did not go into a Lloyd's but I have since received a response from the Bank of Scotland on Halifax headed paper!
Hence why I've got confused, I did not take out the loan with Halifax but within the response they sent me it says the loan is affiliated with Capital Bank.

I cannot see any break downs of PPI within the paperwork. The paperwork does have some interesting screen shots of their systems saying the balance is 0 and closed in 2009.

Im sorry if I've confused you.

[Bobthestarfish]

I'm looking at the original agreement. It doesn't add up.
Apr is 23.2% over 48 months.
The total amount payable = 10,701.43
Amount of credit = 5,200
Total cash price = 8,122
Less deposit = 2,992
Interest = 2,305.43
Acceptance fee = 149.00
Credit facility fee = 115.00
Option fee = 10.00
Total charges for credit = 2,579.43

There's a blurb about insurance premium tax being included at 5% except for the life and critical illness elements at 0%.
Underneath that it says this "the total of your monthly installments including your monthly insurance premiums but excluding Gap plus premiums will be : 1x 149, 47x 159.69.

Its not clear but I'm swaying more to having PPI on this than not?

[The Tech Clerk]

Our initial advice is always free

Di

Might pay to get advice = figure of speech i.e. talk to:-

[Joanna Connolly Solicitors]

Di,

I've just got home and properly read through the response from the creditor. Apologies for my mistake but ignore what I said previously.

. . . . . . I have since received a response from the Bank of Scotland on Halifax headed paper!

Hence why I've got confused, I did not take out the loan with Halifax but within the response they sent me it says the loan is affiliated with Capital Bank.

Im sorry if I've confused you.

You haven't confused me at all - you've simply clarified things, so thank you.

Some of Capital Bank' plc's loan book went to Black Horse and some went to Halifax, which later became HBOS which was bought by Lloyds.

The important thing is that the documents you are currently analysing didn't come from Cabot so they (Cabot) have not complied with your s 77-79 CCA Request making the debt unenforceable in court until or unless they do

Just because the original creditor has information and data in their files, that doesn't mean a subsequent debt purchaser has access to it.

Di

[Bobthestarfish]

Thank you Di.

I suppose I just need to wait until Cabot get in contact? Can I please ask you for help if they do?

You mentioned PPI, why would it matter if I did have it?

[Joanna Connolly Solicitors]

Thank you Di.

I suppose I just need to wait until Cabot get in contact? Can I please ask you for help if they do?

You mentioned PPI, why would it matter if I did have it?

Wait for Cabot to get in touch and then post on your thread if/when they do contact you. Don't deal with anything on the phone - everything needs to be in writing so you have a proper paper trail.

In the meantime there's no need to 'overthink' the situation.

You say Cabot have placed your account with their Sensitive Support Team so let's hope they treat you with sensitivity.

The PPI (or not) might become an issue if Cabot start court proceedings as it could help to muddy the water. You're a long way off that happening, and you would be sent a Letter of Claim first giving you 30 days to respond so put it out of your mind for now.

Do you have other debts which need sorting?

Di

[Bobthestarfish]

Noted - thank you Di. I do feel a lot better having spoke to you!

I don't have anything else that is in such a bad state. This was just an awful time of my life.

[Joanna Connolly Solicitors]

thank you Di. I do feel a lot better having spoke to you!

I don't have anything else that is in such a bad state. This was just an awful time of my life.

Which is why you understandably want closure.

Have a good weekend.

Di

[Bobthestarfish]

Hi Diana Mayhew

They have sent me a letter.... Its a message from the Sensitive Support team.
They have advised it is now time to speak to me to see how things are and how they can help with my account going forward.
I must get in touch with them as soon as I can so I can update them on my situation.

There is still absolutely no acknowledgement of my CCA.

I'm not sure what steps to take next:

1. Reply and ask them to acknowledge my request again?

2. Ignore and wait for then to reply to my request (royal mail tracking confirms they were delivered)


Thank you in advance