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  • have you had the introduction letter from Intrum? Intrum would be the new collectors?
    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.

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    • Yes

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      • Originally posted by Strepsi View Post
        I have a debt that was bought by 1st Credit when licence was lapsed, they have since been taken over or changed there name to Intrum.
        Originally posted by Strepsi View Post
        Where does this leave me?
        Originally posted by The Tech Clerk View Post
        have you had the introduction letter from Intrum? Intrum would be the new collectors?
        As the Tech Clerk points out Intrum have taken over 1st Credit (Group) as the new COLLECTORS. Both were/are FCA licensed.

        However you need to check whom the Account Owner/Current Creditor is/was (the NOA will have this) 1st Credit Ltd /Intrum will be collecting on the Account Owner/Current Creditor's behalf.

        The Cabot Blog started by Niddy wrote extensively about Cabot and their Group member company Cabot Financial (UK) Ltd (FCA lapsed)
        "..
        If they aren't authorised they can't assign a debt, debt collect a debt or start action.."

        Niddy's Blog is worth reading..

        https://www.all-about-debt.co.uk/for...50#post1291550

        "..The exact reasons we want to keep sensitive if you don't mind."

        Comment


        • I checked the FCA site and it appears that 1st Credit licence was lapsed when they acquired the debt.

          It all sounds extremely complicated!

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          • Originally posted by Strepsi View Post
            I checked the FCA site and it appears that 1st Credit licence was lapsed when they acquired the debt.
            It all sounds extremely complicated!
            Its something which you need to check and find out.
            The CURRENT CREDITOR/ ACCOUNT OWNER. You might find it on Intrum's letters? But it will be on the Notice Of Assigment.

            Comment


            • Originally posted by Roger View Post

              Its something which you need to check and find out.
              The CURRENT CREDITOR/ ACCOUNT OWNER. You might find it on Intrum's letters? But it will be on the Notice Of Assigment.

              1st Credit changed their name to Intrum on 1st March 2018 so it wasn't an assignment just 'rebranding'.

              Companies House > https://beta.companieshouse.gov.uk/c...filing-history

              Di
              Last edited by Diana Mayhew; 24th June 2018, 22:35. Reason: fixed broken link (I hope)
              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. 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


              • How legal is re-branding??

                Should documents bearing old names have to be changed in court if for example a CCJ, AOE or other Court Order?

                If not, why not?

                Comment



                • Going to post to diary also.

                  Received yesterday regarding wife's Credit Card with Halifax.


                  "We are writing to notify you that Halifax has assigned all of its respective rights, title and interest in respect above referenced account (including the outstanding June 2018 balance) to Cabot Financial (UK) Limited part of the CE Credit Management Group, effective


                  The total balance sold was as at the date of sale . Any payments made towards your Halifax - Credit Card account after will be forwarded to Cabot Financial (Europe) Limited the Cabot Credit Management Group), and will be deducted from the balance shown above.

                  Under the terms of this assignment, and as defined in the Data Protection Legislation, Cabot Financial (Europe Limited, is now the Data Controller of your Personal Data contained in the records of this account.

                  Cabot Financial (Europe) Limited has been appointed by the Cabot Credit Management Group to manage yc account and it is essential that all future payments and correspondence regarding this account be directed tc Financial (Europe) Limited at:

                  Cabot Financial (Europe) Limited

                  PO BOX No. 241

                  West Mailing, Kent, ME19 4NA

                  Telephone: 0345 0700 116

                  Please contact Cabot Financial (Europe) Limited to discuss repayment of your account based on your financi circumstances."

                  Comment


                  • Well as you know the whole blog is replete with Cabot Finance (UK) Limited (unlicensed with FCA).

                    Comment


                    • Then Mortimer and Clarke hounds will be offered a chance to sniff and then snap, as if a separate and up standing set of professionals.

                      Comment


                      • Originally posted by Never-In-Doubt View Post
                        Has anyone had any threats from Cabot this year?

                        Anything, from a threat of legal action . . . . Their FCA authorisation expired some months ago -

                        I thought I should update this thread following Jo's recent success in court in relation to lack of FCA authorisation (and other legal issues).

                        The current situation is explained here >


                        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.

                        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..

                        So if anyone receives, or has received, a claim from Cabot Financial (UK) Ltd or other unauthorised entities in the group (e.g. Marlin/MFS Portfolio) then post on the new thread especially if you've received a CCJ or Default Judment from Cabot Financial (UK) Ltd (or others in the group which do not have FCA authorisation) in the past> https://all-about-debt.co.uk/forum/d.../1526254-cabot

                        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. 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

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                        • not as yet

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