Grassy_K's Unenforceability Diary

[Warwick65]

Hi Di, it's Cabot Financial (Europe) Limited.

Hopefully it will stay with Resolve Nothing for a while...

Hi

Is that info from the notice of assignment sent by MINT or more recent letters. At some point (not now) it might be worthwhile sending a SAR to RBS to see just who they sold it to. It might be there are some discrepancies.

Although never tested in court , when I sent a SAR to Capital One it said it was sold on 7th of the month but Lowell said they bought it on the 13th so there was a gap of 6 days where it appears no one owned it . I am sure it was just admin errors but it was used in the defence although the judge looked at the DN first and no DN so claim failed.

[Grassy_K]

Hi Di, it's Cabot Financial (Europe) Limited.

Hopefully it will stay with Resolve Nothing for a while...

[PlanB]

Mint Platinum Card

Date commenced: Approx. 2004

Approx Balance £3500

Date last paid: 2020

Defaulted: 2012?

Status: Not paying (token payments until 2020)

Account owner: Cabot

30/07/14 - CCA request sent to Mint.
30/08 /14 - Copy of application form plus 2 sets of T&Cs received from Mint. Looks possibly enforceable. Will scan and upload to Niddy by the end of the week [done]
17/09/14 - Weak collections letter received from Mint's 'Debt Recovery Office' - "we have noticed that payments are not being made in line with the special agreement. If payments are not brought up to date we may need to take further action"

25/09 - Niddy says Enforceable

23/04/21 - Update - was taken over by Cabot some time ago and was making token payments then stopped last year. Cabot letter : We are going to send Resolvecall round to put a card through the door. Filed.

18/05/21 - Letter. Resolvecall are indeed coming round to put a card through the door. Filed. Unconcerned for now.

You've every right not to be concerned.

As a reminder this debt was considered enforceable by Niddy following your CCA Request to Mint. As I posted earlier this doesn't necessarily mean that Cabot will have access to the same documents (but don't send a new CCA Request yet).

Which Cabot owns this debt - not just manages it?

If it's Cabot Financial (UK) then they are not FCA authorised to issue legal proceedings although that doesn't mean they won't try!

Jo explains the situation 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

[The Tech Clerk]

barclaycard or lloyds lately been good

[Warwick65]

I started with Aqua and Cap 1 with low limits and high apr. Aqua upped my credit limit rapidly but the apr was about 40%. Gradually got better cards with lower apr . I bank with Yorkshire /Virgin and have cards with 2500 credit limit. My last defaults dropped off about mid 2018 and I now have almost 30k of available credit and my income is definitely on the lower side but I have no dependants and my rent is low ish . I picked 0% offers and managed to get myself some nice stuff with no interest .

[Grassy_K]

Not a debt problem, but today the last default on my credit file, that Link plonked on there in 2015, fell away. The ol' credit score, trashed beyond hope last decade, is now "very good".

Can anyone recommend some good credit cards with generous limits, preferably firms that are poor at storing credit agreements?

[Joke - my borrowing days are well and truly over].

[Grassy_K]

Mint Platinum Card

Date commenced: Approx. 2004

Approx Balance £3500

Date last paid: 2020

Defaulted: 2012?

Status: Not paying (token payments until 2020)

Account owner: Cabot

30/07/14 - CCA request sent to Mint.
30/08 /14 - Copy of application form plus 2 sets of T&Cs received from Mint. Looks possibly enforceable. Will scan and upload to Niddy by the end of the week [done]
17/09/14 - Weak collections letter received from Mint's 'Debt Recovery Office' - "we have noticed that payments are not being made in line with the special agreement. If payments are not brought up to date we may need to take further action"

25/09 - Niddy says Enforceable

23/04/21 - Update - was taken over by Cabot some time ago and was making token payments then stopped last year. Cabot letter : We are going to send Resolvecall round to put a card through the door. Filed.

18/05/21 - Letter. Resolvecall are indeed coming round to put a card through the door. Filed. Unconcerned for now.

[Grassy_K]

[Colin G Quinn]

Hi Grassy_K,

Thanks for your kind words and thank you for instructing Joanna Connolly Solicitors.

It was a pleasure and a great result.

Kind regards,

[Spud]

That is such good news, Well done to everyone along the line who helped or assisted with this, Fantastic

[PlanB]

Barclaycard #1 (old Egg card)

Date commenced: Approx. 2004

Approx Balance £9,000

20/02/2021 - Well my luck had to run out eventually. Court claim LBA received from Asset Link
01/04/2021 - Court Claim received

. . . The claimant is discontinuing without the matter ever seeing the inside of a courtroom.

I would like to give grateful thanks to Di, for spending over an hour on the telephone to me calming me down and explaining options. Also to all at JCS, especially Colin who I dealt with on a day to day basis and was very reassuring and non-judgmental. And to the AAD team for providing this wonderful forum.

For those who know me well that would have been one of my shorter phone calls

I'm almost as thrilled as you that your case has been discontinued without "ever seeing the inside of a courtroom". Only lawyers like going to court so I'm glad you were spared that ordeal.

AAD is indeed a wonderful forum



Di

[Grassy_K]

Barclaycard #1 (old Egg card)

Date commenced: Approx. 2004

Approx Balance £9,000

Date last paid : Token £5 payments on DMP every month, then dropped DMP in 2012 and paid £1/month until recently

Defaulted - Jan 2013

Account owner: Link

1/2 - Letters x 2 from Barclaycard "After reviewing your payments" we are now issuing a formal demand for payment (with threat of court action). Can avoid this by telephoning them and coming to a payment arrangement. And P.S we screwed up your CRA reporting. We're now correcting it and defaulting you.
24/2 - CCA requests x 2 sent to Barclaycard for each card (after a little delay on my part)
5/3 - Very lengthy reconstituted Egg agreement received from Barclaycard. Accompanying Letter: "...we have now fully complied with all our obligations under S.78". It looks good and professional ?
19/3 - Niddy says UE
22/3 - UE letter sent to Barclaycard
11/6 - Response from Barclaycard enclosing a copy of my signed application form from 2003. Niddy says Enforceable
30/09/2016 - Debt sold to Asset Link Capital no. 5 Limited - token £1 payments no payment plan entered into
17/03/2020 - Letter from Link on behalf of Asset Link Capital no.5 Limited

20/02/2021 - Well my luck had to run out eventually. Court claim LBA received from Asset Link
01/04/2021 - Court Claim received

Well, finally I am able to post an update on this. I was indeed issued with a court claim by Link. Joanna Connolly Solicitors were duly engaged in defence, and I have just received word of a *WIN*. The claimant is discontinuing without the matter ever seeing the inside of a courtroom.

I would like to give grateful thanks to Di, for spending over an hour on the telephone to me calming me down and explaining options. Also to all at JCS, especially Colin who I dealt with on a day to day basis and was very reassuring and non-judgmental. And to the AAD team for providing this wonderful forum.

One more big step towards being debt free.

[PlanB]

Token payments until 2020 then nothing.

Okay, but there does seem to be a communication gap between 2016 and 2020 (despite your payments) so I wonder whether they have fulfilled their statutory duty to send you a Notice of Sums in Arrears under section 86b CCA which could make the debt unenforceable unless or until they rectify that.

See this > https://www.legislation.gov.uk/ukpga...d-default-sums

As you say keep a close eye on things.

Di

[Grassy_K]

I can't work out when you last made a payment to anyone for this debt - it's probably me missing something, but I thought I should check.

Di

Token payments until 2020 (I know.. I know...) then nothing. Never made an arrangement to pay.

[PlanB]

I can't work out when you last made a payment to anyone for this debt - it's probably me missing something, but I thought I should check.

Di