trueblue's diary

[trueblue]

Hi there,

I am sorry if I have posted in the wrong place! I stumbled across your website whilst searching for information on how to fight my case and this website is so informative. I am hoping you can help me as well.

My story so far.
Credit card with Natwest opened maybe 1999/ 2000. Account defaulted in 2008. Approx balance £4000
After the default, NW would threaten me each year and I would duly send a income/expenditure form filled out and agreed to pay £25 monthly.
After losing my job, at some point I stopped paying. Last August was my last written communication with NW that I will not be able to pay.

Last month NW sent me a notice saying my account has been assigned to Cabot Financial (UK) Ltd, and if I need to, I should contact Cabot Financial (Europe) Ltd. (Are they one and the same?)

Cabot have since sent me a letter and I have missed quite a few phone calls from them as well as I do not intend to speak to them.
I am thinking of sending a CCA request to Cabot.
Or is this account now statute barred?

Thank you in advance.

[The Tech Clerk]

not statute barred as yet but I would send CCA request with £ 1,00 send recorded delivery and keep copy receipt it will be good to have it checked by:- webmaster@all-about-debt.co.uk for enforceability or not? no talking to them

start a diary of events in the following format:-
se this format for each one >[LIST][*]Type of account (credit card/loan/overdraft)[*]Date commenced[*]Approx balance[*]Date last paid (approximate date you last made a FULL payment)[*]Are you on arrangement or not paying[*]Status (default/in arrears/up-to-date)[*]Account

[trueblue]

Thank you Tech Clerk. I am sending my CCA request today.
I will keep this thread updated with any developments.

Type of account: Credit card
Date commenced: Possibly 1999, can't remember
Approx balance: £4000
Date last paid: can't remember
Arrangement/ not paying: paid reduced amounts, not paying now
Status: Defaulted 2008

[trueblue]

Just a quick question.. Cabot's address is a PO Box. Does that mean I cannot send the CCA request by recorded delivery?

Thank you.

[The Tech Clerk]

Just get proof of posting. No charge

[nightwatch]

Hi, due to Covid 19, lots of companys are no longer signing for post, so just get a proof of posting from the PO, and attach to your copy of the request,
you then have proof you sent them something if they don't comply with your request.

Have a nice weekend NW

[Timewilltell]

The fact it is Cabot Uk is a bonus in your favour. I tend not to rush in, let them write a few times this passes a few more months then request the cca etc.

[Roger]

The fact it is Cabot Uk is a bonus in your favour. I tend not to rush in, let them write a few times this passes a few more months then request the cca etc.

That's Wise!
Eat up the time! Sit on your hands!
They will have a batch of debts, make sure that yours is at the bottom of the work stack!

Look through the AAD Diaries and make (for your records) Notes!

[trueblue]

Thank you all for the advice. I posted the CCA request before I saw the posts from Timewilltell and Roger. Just got worried because I was getting calls daily not to mention the letters and text messages.

Will keep you posted with what happens and also keep reading for more info.

[The Tech Clerk]

once (If) CCA gets sent send it to:- webmaster-@-all-about-debt.couk quoting this thread un-redacted for checking enforceable or not

[Joanna Connolly Solicitors]

NW sent me a notice saying my account has been assigned to Cabot Financial (UK) Ltd, and if I need to, I should contact Cabot Financial (Europe) Ltd. (Are they one and the same?)

No they are not one and the same.

Cabot Financial (UK) Ltd are not authorised by the FCA so cannot sue in the county court.

Jo explains this complex legal issue here >

On 24 April 2019 I was successful in a consumer credit claim appeal. The Claimant debt purchaser admitted they were not authorised by the Financial Conduct Authority but said they could rely on the S.55 FSMA 2000 exemption because they had a valid servicing agreement in place with an affiliated 3rd party who was authorised by the Financial Conduct Authority.

It was accepted by both parties on the facts of the case that there was a valid servicing agreement in place. The issue was could the Claimant debt purchaser rely on the S.55 Exemption to issue proceedings in the county court.

The Circuit Judge held as a general principle of law that the Claimant debt purchaser was not able to rely on the FCA authorisation of an affiliated 3rd party (and the exemption under s.55 FSMA) for the purpose of bringing a claim. The agreement was unenforceable, and the order of the court below was set aside, and the Claim dismissed

Di

[trueblue]

No they are not one and the same.

Cabot Financial (UK) Ltd are not authorised by the FCA so cannot sue in the county court.

Jo explains this complex legal issue here >




Di

Thank you Diana. That is more ammunition for me I guess.

[Joanna Connolly]

I would like to clarify that Cabot Financial (UK) Limited and any other unauthorised creditors can, and do, issue claims in the county court and obtain judgments both in default and at contested hearings.

The case referred to in the quote was itself an appeal. The defendant had represented himself at the initial hearing and was unsuccessful. As the article states we were successful in the appeal on the basis that the creditor was unauthorised and the agreement was therefore unenforceable.

The unauthorised by FCA argument is complex


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.

[Joanna Connolly]

I would like to clarify that Cabot Financial (UK) Limited and any other unauthorised creditors can, and do, issue claims in the county court and obtain judgments both in default and at contested hearings.

The case referred to in the quote was itself an appeal. The defendant had represented himself at the initial hearing and was unsuccessful. As the article states we were successful in the appeal on the basis that the creditor was unauthorised and the agreement was therefore unenforceable.

The unauthorised FCA argument is a complex area of law and requires specialist legal argument to be able to put it successfully. At the moment there is no binding decision that can just be quoted.

[Timewilltell]

Well I guess we all know where to turn when the time comes.

[trueblue]

A quick note to say that Cabot responded that they have reverted to NW requesting documentation as per CCA request. I will keep you guys updated with events.