Cabot

[The Tech Clerk]

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

[Strepsi]

Yes

[Roger]

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.

Where does this leave me?

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."

[Strepsi]

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

It all sounds extremely complicated!

[Roger]

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.

[Joanna Connolly Solicitors]

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

[julian]

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?

[Strepsi]

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."

[Roger]

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

[julian]

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.

[Joanna Connolly Solicitors]

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 >

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

[davidm]

not as yet

[Milly52]

Yep, have replied on the other thread as well.
Cabot Financial (Uk) ltd, Court Claim, stayed at present, they wouldn't pursue it, but are still hounding me for the money.

[Milly52]

Well, I've got all my papers in order for this and cannot wait to scan them and send to Di Mayhew. I'm hoping she will throw the book at them - fact, they should not be hounding me for the debt when they are not licensed to! Even had Resolvecall on my doorstep not long ago!! Abused the Court system, claim stayed, (let's say a few years, walls have ears!) didn't even put in a defence (I did) or complied with my CCA request until months after they issued a bloody claim against me! No claim should have been made!

Going to have fun with this one!! Or Di Mayhew will!

Thanks for brilliant site, glad I joined and read lots and not panicking, just cross!

[Never-In-Doubt]

Joanna Connolly You're gonna have fun here