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  • CABOT

    The Cabot group of companies have issues with their assignment process and documentation, as was shown in our recent cases of MFS Portfolio V Phelan & West. We won this case at appeal, following days of argument and counter argument. Part of the judgment confirmed our position both on assignment and that personal account overdrafts are subject to the regulatory framework of the Consumer Credit Act, including S.78 CCA 1974.

    The judgment, however, was not all in our favour. The Circuit Judge ruled in favour of MFS Portfolio on a point relating to the use of servicing agents to avoid authorisation by the Financial Conduct Authority under the para 55 FSMA 2000 servicing exemption which we believed to be wrong. However, as we had won the appeal for our client, we were unable to appeal this judgment to the Court of Appeal.

    We did however 2 months later obtain another Circuit Judge decision in the Idem Capital Securities Limited case that debt purchasers who are not authorised cannot issue proceedings in the county court regardless of whether there is a para 55 FSMA 2000 servicing agreement in place. Idem did not appeal the judgment.

    We currently have other cases going through the courts, which will hopefully obtain binding decisions both on lack of authorisation by the Financial Conduct Authority and other issues too.

    f you are currently defending a claim with a Cabot company, whether stayed or ongoing, or Cabot have obtained a Default Judgment against you and you have any query please post any queries on this thread..
    Last edited by Joanna Connolly; 4th July 2019, 09:30.
    Legal Disclaimer
    I am a solicitor Advocate who specialises in consumer credit and my firm is Joanna Connolly Solicitors. My leading case of Carey v HSBC set the legal precedence for creditors compliance with s.77 & s.78 Consumer Credit Act 1974 statutory requests & enforcement of debts in court. Any posts I make on the AAD Consumer Forum are for information and discussion purposes only and shouldn't be seen as legal advice. Any advice I provide on the forum is without liability. If you are unsure please seek formal legal guidance or contact your local citizens advice bureau at https://www.citizensadvice.org.uk.

    If you need to contact me you can send me a message by clicking my username or by emailing me at jo@joannaconnollysolicitors.co.uk or by telephoning 0330 053 9340.

  • #2
    Hi Jo, they issued proceedings against me and I entered a defence in february 2016. Mortimer Clarke wrote to me in february 2018 and I've heard nothing since. Di knows about this matter. It seems to be 'parked up'. I'd like to see the matter closed so that I can bin the file. :-)

    Comment


    • #3
      Hi Mike'y

      I have asked Di to contact you

      Jo
      Legal Disclaimer
      I am a solicitor Advocate who specialises in consumer credit and my firm is Joanna Connolly Solicitors. My leading case of Carey v HSBC set the legal precedence for creditors compliance with s.77 & s.78 Consumer Credit Act 1974 statutory requests & enforcement of debts in court. Any posts I make on the AAD Consumer Forum are for information and discussion purposes only and shouldn't be seen as legal advice. Any advice I provide on the forum is without liability. If you are unsure please seek formal legal guidance or contact your local citizens advice bureau at https://www.citizensadvice.org.uk.

      If you need to contact me you can send me a message by clicking my username or by emailing me at jo@joannaconnollysolicitors.co.uk or by telephoning 0330 053 9340.

      Comment


      • #4
        Originally posted by mike'y View Post
        a defence in february 2016. Mortimer Clarke wrote to me in february 2018 and I've heard nothing since. Di knows about this matter.

        Indeed I do

        Thank you for replying to my email.

        Jo will take a new look at the old papers.

        Di
        Legal Disclaimer

        I am a Litigation Executive at Joanna Connolly Solicitors a firm which specialises in consumer credit. If you need to contact me you can send a message by clicking on my username or by emailing me at di@joannaconnollysolicitors.co.uk or by telephoning 0330 053 9340. My Direct Line is 0151 254 6986 Our initial advice is always free.

        Any posts I make on the AAD Consumer Forum are for information and discussion purposes only and shouldn't be seen as legal advice. Any advice I provide on the forum is without liability. If you are unsure please seek formal legal guidance or contact your local citizens advice bureau at https://www.citizensadvice.org.uk

        Comment


        • #5
          Hi,
          Last edited by gazzer; 19th August 2019, 14:08.

          Comment


          • #6
            gazer start your own thread it will not get mixed up on here then
            I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

            If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

            Comment


            • #7
              CCA Request for a start send Recorded delivery with a £1.00 postal order and keep copy on file,, better as stated get your own thread and make a diary of events also let us know in detail who owned the alleged debt and how it came about also look around site and get an idea how it works
              I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

              If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

              Comment


              • #8
                Originally posted by gazzer View Post
                I found this company on their with a default for £700 I contacted them repeatedly in writing and got various excuses and then a letter chasing me for the £700, I have no records of the alleged debt and have never heard from the company before
                eventually after 3 months of chasing they handed over what looks like a word document with a list of dates and amounts on advising that I had an old credit card around 2015 and made these payments so I must pay them £700, I referred the document to my bank and they were able to check my bank statements and confirm those transactions never took place

                since then cabot have decided this was a loan, but then changed their mind to a credit card and produced some limited paperwork that looks iffy, no default notice or contract etc can be provided

                Hello

                Who is actually named as the debt owner?

                Is it Cabot Financial (UK) Ltd or another one of the companies in their group?

                Di
                Legal Disclaimer

                I am a Litigation Executive at Joanna Connolly Solicitors a firm which specialises in consumer credit. If you need to contact me you can send a message by clicking on my username or by emailing me at di@joannaconnollysolicitors.co.uk or by telephoning 0330 053 9340. My Direct Line is 0151 254 6986 Our initial advice is always free.

                Any posts I make on the AAD Consumer Forum are for information and discussion purposes only and shouldn't be seen as legal advice. Any advice I provide on the forum is without liability. If you are unsure please seek formal legal guidance or contact your local citizens advice bureau at https://www.citizensadvice.org.uk

                Comment


                • #9
                  Hi on
                  Last edited by gazzer; 19th August 2019, 14:09.

                  Comment


                  • #10
                    Originally posted by gazzer View Post
                    Hi on equifax it is Cabot management group ltd

                    but after a complaint they advised it is Cabot financial (Europe) ltd

                    basically this has caused significant loss to myself with a mortgage and as I am also a director of several companies the bank have failed a directors check on this also for a commercial loan

                    i have even offered them a confidential settlement agreement via my solicitors to remove this debt by paying them 50% of it just to get rid of it they said no

                    I must advise also - I lost my patience with there people and in May I issued proceedings against Cabot financial Europe ltd for damages and the financial loss I have suffered because of this, the matter is now listed to go to hearing in November
                    Cabot are defending it in the basis they now deny they are the creditor its one of their other companies and I can’'t prove the losses I claim
                    court hearing is listed and agreed for November and Mortimer clarke are defending Cabot

                    I've replied to this on your new thread here > https://all-about-debt.co.uk/forum/d...ial-europe-ltd

                    Di
                    Legal Disclaimer

                    I am a Litigation Executive at Joanna Connolly Solicitors a firm which specialises in consumer credit. If you need to contact me you can send a message by clicking on my username or by emailing me at di@joannaconnollysolicitors.co.uk or by telephoning 0330 053 9340. My Direct Line is 0151 254 6986 Our initial advice is always free.

                    Any posts I make on the AAD Consumer Forum are for information and discussion purposes only and shouldn't be seen as legal advice. Any advice I provide on the forum is without liability. If you are unsure please seek formal legal guidance or contact your local citizens advice bureau at https://www.citizensadvice.org.uk

                    Comment


                    • #11
                      Originally posted by Joanna Connolly View Post
                      The Cabot group of companies have issues with their assignment process and documentation, as was shown in our recent cases of MFS Portfolio V Phelan & West. We won this case at appeal, following days of argument and counter argument. Part of the judgment confirmed our position both on assignment and that personal account overdrafts are subject to the regulatory framework of the Consumer Credit Act, including S.78 CCA 1974.

                      The judgment, however, was not all in our favour. The Circuit Judge ruled in favour of MFS Portfolio on a point relating to the use of servicing agents to avoid authorisation by the Financial Conduct Authority under the para 55 FSMA 2000 servicing exemption which we believed to be wrong. However, as we had won the appeal for our client, we were unable to appeal this judgment to the Court of Appeal.

                      We did however 2 months later obtain another Circuit Judge decision in the Idem Capital Securities Limited case that debt purchasers who are not authorised cannot issue proceedings in the county court regardless of whether there is a para 55 FSMA 2000 servicing agreement in place. Idem did not appeal the judgment.

                      We currently have other cases going through the courts, which will hopefully obtain binding decisions both on lack of authorisation by the Financial Conduct Authority and other issues too.

                      If you are currently defending a claim with a Cabot company, whether stayed or ongoing, or Cabot have obtained a Default Judgment against you and you have any query please post any queries on this thread..

                      I'm flagging up Jo's post to raise awareness of the importance of a creditor or debt purchaser having FCA authorisation in order to issue proceedings in the county court.

                      Earlier this year a Circuit Judge ruled that Idem Capital Securities Ltd could not.

                      If you've received a claim from Cabot Financial (UK) Ltd or have obtained a Default Judgment against you by Cabot, Idem Capital Securities, Hoist or Intrum, then please post on this thread.

                      Di
                      Legal Disclaimer

                      I am a Litigation Executive at Joanna Connolly Solicitors a firm which specialises in consumer credit. If you need to contact me you can send a message by clicking on my username or by emailing me at di@joannaconnollysolicitors.co.uk or by telephoning 0330 053 9340. My Direct Line is 0151 254 6986 Our initial advice is always free.

                      Any posts I make on the AAD Consumer Forum are for information and discussion purposes only and shouldn't be seen as legal advice. Any advice I provide on the forum is without liability. If you are unsure please seek formal legal guidance or contact your local citizens advice bureau at https://www.citizensadvice.org.uk

                      Comment


                      • #12
                        Originally posted by Diana Mayhew View Post


                        If you've received a claim from Cabot Financial (UK) Ltd or have obtained a Default Judgment against you by Cabot, Idem Capital Securities, Hoist or Intrum, then please post on this thread.

                        Di
                        Hi,

                        Just for reference for others on here, as you know about these.

                        Yes one with Cabot, a Court Claim it has been stayed. This is with Cabot Financial (UK) Ltd. They wouldn't pursue the claim after I put my defence in, but are still chasing me for the money via Mortimer Clark and Resolvecall.

                        Yes one with Hoist, a Default Judgment. Was taken over from MKDP.

                        Merry Christmas all.
                        Last edited by Milly52; 23rd December 2019, 12:54.

                        Comment


                        • #13
                          Diana Mayhew Joanna Connolly

                          Oh that's Interesting. I've tagged the legal guys in - as per my PM I'll sort the other personal issue later when I'm next at my laptop as hard to fix on phone.

                          ???????good luck.
                          I'm the forum administrator and I look after the theme & features, our volunteers & users and also look after any complaints or Data Protection queries that pass through the forum or main website. I am extremely busy so if you do contact me or need a reply to a forum post then use the email or PM features offered because I do miss things and get tied up for days at a time!

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                          Comment


                          • #14
                            I'm aware that Cabot Financial (UK) Ltd have issued legal proceedings in the county court over the Christmas/New Year holiday notwithstanding the fact that they are not FCA authorised.

                            So if anyone has received a claim from Cabot Financial (UK) Ltd please post on this thread or email me direct if you prefer di@joannaconnollysolicitors.co.uk

                            Also if anyone has been given a Default Judgment for failing to respond in time to a claim which they received (or perhaps because it went to an incorrect address so they didn't receive it but became aware of a CCJ later on a CRA file) then post on here too. These Default Judgments don't need to have been recent since the lack of FCA authorisation is not a new issue.

                            Di
                            Last edited by Diana Mayhew; 15th January 2020, 14:27. Reason: typos
                            Legal Disclaimer

                            I am a Litigation Executive at Joanna Connolly Solicitors a firm which specialises in consumer credit. If you need to contact me you can send a message by clicking on my username or by emailing me at di@joannaconnollysolicitors.co.uk or by telephoning 0330 053 9340. My Direct Line is 0151 254 6986 Our initial advice is always free.

                            Any posts I make on the AAD Consumer Forum are for information and discussion purposes only and shouldn't be seen as legal advice. Any advice I provide on the forum is without liability. If you are unsure please seek formal legal guidance or contact your local citizens advice bureau at https://www.citizensadvice.org.uk

                            Comment


                            • #15
                              I have 2 claims issued from Cabot Financial (UK) Ltd both in early November through Mortimer Clarke. Both are currently stayed as Cabot have not been able to comply with CCA requests. I have just discovered this forum and am pulling everything together at the moment to post fully for advice. As both are for large amounts £25k and £10k I am, to put it mildly. concerned.

                              Comment

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