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Cabot Financial UK Ltd

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  • #16
    Re: Cabot Financial UK Ltd

    In view of the above, is this something that should go in every defence where the claimant is Cabot Financial (UK) Limited? Something like: "At the time the claim was issued, the claimant was not in possession of a valid Consumer Credit License as required under s.21(1) of the Consumer Credit Act 1974"?

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    • #17
      Re: Cabot Financial UK Ltd

      My question's would be what would be the punishment and if they sorted their licence could they just re-issue claims?

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      • #18
        Re: Cabot Financial UK Ltd

        Originally posted by meellis View Post
        My question's would be what would be the punishment and if they sorted their licence could they just re-issue claims?
        2 years or a fine.

        Res judicata is a bit of an issue.

        M1
        Last edited by mystery1; 17th October 2015, 23:55:PM.

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        • #19
          Re: Cabot Financial UK Ltd

          Well with the financial industry that means a fine that goes into coffers that never helps the victims, nobody held to account and then forgotten about ready for the next in a long line of scandals. Joe average abides by rules, regulations and laws in the belief they will get hung drawn and quartered but the finance industry will continue to take the p**s because they know the authorities are ineffective and they can run rings around laws due to finances so that just leaves them paying fines that go down as losses and they come up with another scheme to recoup these. Even though we should never give up, and hats off certainly to the likes of PT it does get a bit tiresome (my opinion).

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          • #20
            Re: Cabot Financial UK Ltd

            Originally posted by meellis View Post
            Well with the financial industry that means a fine that goes into coffers that never helps the victims, nobody held to account and then forgotten about ready for the next in a long line of scandals. Joe average abides by rules, regulations and laws in the belief they will get hung drawn and quartered but the finance industry will continue to take the p**s because they know the authorities are ineffective and they can run rings around laws due to finances so that just leaves them paying fines that go down as losses and they come up with another scheme to recoup these. Even though we should never give up, and hats off certainly to the likes of PT it does get a bit tiresome (my opinion).
            I would be inclined to agree if it was just a matter of one more company being fined like, say, Barclays has been, it doesn't make much difference to the rest of us. The main issue here is that Cabot are issuing lots of claims right at the time they are unauthorised. If that fact can be used in favour of the defendants, then it doesn't fall into the category above.

            Comment


            • #21
              Re: Cabot Financial UK Ltd

              Forgive me if I am being a bit ignorant here but…..Would this would be the same FCA that apparently turned a blind eye to the fact that Banks had outstanding CCJs against them when they renewed their credit licences? Oh aye, we can sit back and leave everything in their capable hands.

              An optimist is someone who falls off the Empire State Building, and after 50 floors says, 'So far so good'!
              ~ Anonymous

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              • #22
                Re: Cabot Financial UK Ltd

                One thing that should be considered is how pressure could be applied so they can't renew their licence.

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                • #23
                  Re: Cabot Financial UK Ltd

                  Originally posted by PAWS View Post
                  Forgive me if I am being a bit ignorant here but…..Would this would be the same FCA that apparently turned a blind eye to the fact that Banks had outstanding CCJs against them when they renewed their credit licences? Oh aye, we can sit back and leave everything in their capable hands.
                  But we aren't though. Each defendant has statute on their side. CCA s39 and s40.

                  M1

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                  • #24
                    Re: Cabot Financial UK Ltd

                    Originally posted by Berniethebolt View Post
                    Nem
                    Disagreements aside I hope your son is ok. If it means anything , many major heart problems are routine these days and people go on to live full and active lives after surgery
                    Thank you Jon that is much appreciated.

                    nem

                    Comment


                    • #25
                      Re: Cabot Financial UK Ltd

                      When one looks at the new make up and the companies which
                      are now part of the new Cabot ( Marlin) group of companies and compare
                      this with other large debt purchase / debt collection groups, e.g.
                      Lowell, Fredrickson, Interlaken, with "trading styles" for various arms
                      Connaught, Red etc.
                      within the organisation all carrying out " authorised" activities
                      My guess is ( until I get the full view and information from the FCA)
                      is that Cabot Financial UK Ltd " trades" under a group licence.
                      nem

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                      • #26
                        Re: Cabot Financial UK Ltd

                        This is what was suggested weeks ago?

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                        • #27
                          Re: Cabot Financial UK Ltd

                          Originally posted by MIKE770 View Post
                          This is what was suggested weeks ago?
                          Yes.

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                          • #28
                            Re: Cabot Financial UK Ltd

                            Would this be something that the likes of MoneyBox , or Watchdog would be interested in? I am sure Paul Lewis would go for it

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                            • #29
                              Re: Cabot Financial UK Ltd

                              Group of companies' accounts made up to 31 December 2014

                              Click image for larger version

Name:	Cabot-report.png
Views:	1
Size:	254.6 KB
ID:	1167580

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                              • #30
                                Re: Cabot Financial UK Ltd

                                The second part of that document shows just how much power undemocratic pressure groups have on legislation.
                                Because they fear it will reduce their profits they will do everything they can to stop it in its tracks

                                Do group licences still exist, I thought that they were being phased out

                                Comment

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