Reply from Cabot - can anyone help/advise

[LJL]

Hi,

Following from an initial letter from Cabot Financial, I replied as per another thread requesting a copy of my Consumer Credit Agreement under section 77-79.

i have had a reply to advise -

they do not have this info on file but have requested it, and they acknowledge the 12 day time limit will not be met, but anticipate it will be sent within 40 days.

Please is anybody able to provide me with information of where I stand now they have not met the 12 days, and what action I am now able to take?

Any advice or templates would be greatly appreciated..
Thanks

[warwick65]

Re: Reply from Cabot - can anyone help/advise

Hi
First question is - have they issued a claim?

If not just sit back and wait. I had that letter in July 2016 and am still waiting

Make sure you keep copies of the letters and proof of posting etc - just in case

As it stands and assuming they haven't issued a claim they can not enforce the debt until they do although it might not stop them trying

Personally I would stop paying unless you have done so already . I will read your other posts to see if i can get more info

[Onestepatatime]

Re: Reply from Cabot - can anyone help/advise

Can some one please explain how this information can not be obtained within the 12 days? The very fact that they all say 40 makes me supicious that they are indeed doing a SAR (dare i say fraudulently)request in the subjects name?

[warwick65]

Re: Reply from Cabot - can anyone help/advise

Who knows why they say 40 days but remember they have to contact the original creditor who then have to go a searching.

I think you have a healthy? case of paranoia if you think they are doing SARs as it is arguable for a start that the terms and conditions are not part of a SAR as they are not 'personal'

Maybe it is a stock response, maybe it is something in the agreement when they buy the debt - I have no idea but they have been doing it for years- as I said they said 40 days to be 18 months ago and I am still waiting

[LJL]

Re: Reply from Cabot - can anyone help/advise

Thanks for the reply warwick65.

My issue is that Cabot have filed a default on my credit file and this has now left me with really bad credit. The original debtor filed a default a few years ago which still shows but they never sent me anything or chased it. I have managed to build my credit to a decent level.

Can Cabot file a default if they have not got any proof the debt even exists? And even after the original debtor has filled one?

Ideally I am wanting them to remove the default so my file returns to as it was prior to Cabot getting involved. Is there any way of doing this?

Thanks

[Onestepatatime]

Re: Reply from Cabot - can anyone help/advise

If teh debt has been purchased by Cabot, then I think i am right in saying that the original default should be able to be removed as the default is no longer asscoiated to the original creditor, this would then return your credit file to the position it was prior to Cabot getting involved.

[LJL]

Re: Reply from Cabot - can anyone help/advise

If teh debt has been purchased by Cabot, then I think i am right in saying that the original default should be able to be removed as the default is no longer asscoiated to the original creditor, this would then return your credit file to the position it was prior to Cabot getting involved.

Hi,

Is this correct? I was under the impression that the default always remained with the original creditor? I haven't defaulted on Cabot so not sure how they can file a default? They may have bought the debt but they cannot prove it exists, so how can they file a default on this basis?

Plus, if the new default were to supersede the original default then I would be left with bad credit and have to build it up again....for another debt company to the same again? This cannot be correct?
Thanks.

[Amethyst]

Re: Reply from Cabot - can anyone help/advise

Hi,

Is this correct? I was under the impression that the default always remained with the original creditor? I haven't defaulted on Cabot so not sure how they can file a default? They may have bought the debt but they cannot prove it exists, so how can they file a default on this basis?

Thanks.

Have Cabot actually posted a new default or just picked up reporting from the original creditor - ? it should show the date of default somewhere .... sometimes when a dca takes over reporting it looks like a new default with a new entry with the red default markers ( thinking noddle) but the start date and drop off date is as the original ... just worth checking that out.

[warwick65]

Re: Reply from Cabot - can anyone help/advise

Hi
It all depends on the detail. Can you remember the actual date if default recorded by the original creditor?

If it was within 6 years then cabot can just take over the recording of the default with the same default date.

If it was longer than six years ago they can not add a new default.

It is really down to the date the original default was recorded and the date cabot are recording.

For example I had a debt that was defaulted Jan 2012 and sold a year later. On my credit file it shows two accounts- one the Original creditor with a balance if 0 and closed and one the new creditor with the actual balance and they both have the same default date.

As for taking cabot to task, if they write saying they can not produce the focus at all then carefully word a letter asking them to remove the default. I can't remember at the moment the judgement to quote

[LJL]

Re: Reply from Cabot - can anyone help/advise

Have Cabot actually posted a new default or just picked up reporting from the original creditor - ? it should show the date of default somewhere .... sometimes when a dca takes over reporting it looks like a new default with a new entry with the red default markers ( thinking noddle) but the start date and drop off date is as the original ... just worth checking that out.

Hi,

i will check the details fully in a moment but I am certain it is a new default with a recent default date which opened and closed within a couple of days.

[Onestepatatime]

Re: Reply from Cabot - can anyone help/advise

Thinking back i had this exact scenario, i raised a dispute on noddle saying that both defaults related to one account, before i knew it the original default was removed as account was effectively closed as had a zero balance.

[LJL]

Re: Reply from Cabot - can anyone help/advise

Thinking back i had this exact scenario, i raised a dispute on noddle saying that both defaults related to one account, before i knew it the original default was removed as account was effectively closed as had a zero balance.

Just checked and the original has gone and cabots details are now there. I distinctly remember there being a new default in Sept from Cabot opening and closing in a few days. Now as of Sept my credit score has dropped by a third and I have not defaulted on anything, no new searches or applications for credit' nothing?

It states account last updated Sept 2017 too?

[LJL]

Re: Reply from Cabot - can anyone help/advise

Hi
It all depends on the detail. Can you remember the actual date if default recorded by the original creditor?

If it was within 6 years then cabot can just take over the recording of the default with the same default date.

If it was longer than six years ago they can not add a new default.

It is really down to the date the original default was recorded and the date cabot are recording.

For example I had a debt that was defaulted Jan 2012 and sold a year later. On my credit file it shows two accounts- one the Original creditor with a balance if 0 and closed and one the new creditor with the actual balance and they both have the same default date.

As for taking cabot to task, if they write saying they can not produce the focus at all then carefully word a letter asking them to remove the default. I can't remember at the moment the judgement to quote

I defaulted some time in early 2015 so guess I have a few years left with it dangling over my head. Was just more shocked the effect the default swap has on my file.

The original creditor never sent me a default notice and didn't inform me they were passing the debt Ono anyone....Cabot just appeared out of the blue in around August 2017.

Does this make any difference? Can I go back to the original creditor?

[warwick65]

Re: Reply from Cabot - can anyone help/advise

Hi
Without a few more details it is hard to say but my general approach is- if they aren't writing and giving you grief leave it be. Generally, from your point of view , should a claim ever happen it is better if the debt is with a debt purchaser

Here is one example- I have what I am told is a deed of assignment from one creditor to a now no longer functioning debt purchaser. In this deed it says that the OC will only help recover documents within 1 year of sale

So if they sold a debt in Jan 2017 and you sent a CCA request in March 2018 - that would be over a year and they would not be able to provide the original - nor would they be able to get details of the DN etc etc . Of course you probably could by sending a SAR to the OC but they don't have to know what you have

As I say, I was told this was a Deed of assignment- no idea if it actually is

So - I would be inclined to stay quiet and stick with Cabot

[nemesis45]

Re: Reply from Cabot - can anyone help/advise

I defaulted some time in early 2015 so guess I have a few years left with it dangling over my head. Was just more shocked the effect the default swap has on my file.

The original creditor never sent me a default notice and didn't inform me they were passing the debt Ono anyone....Cabot just appeared out of the blue in around August 2017.

Does this make any difference? Can I go back to the original creditor?

I think your best course of action at this point is send a Subject Access Request SAR)to the original creditor together with the £10.00 statutory fee, this should get all the data the creditor hold on you/the account.

nem

- - - Updated - - -

Just checked and the original has gone and cabots details are now there. I distinctly remember there being a new default in Sept from Cabot opening and closing in a few days. Now as of Sept my credit score has dropped by a third and I have not defaulted on anything, no new searches or applications for credit' nothing?

It states account last updated Sept 2017 too?

The default would have been registered by the original creditor this must remain the same after a debt is sold. You have defaulted the original agreement.

nem