CABOT FINANCIAL CCA REQUEST, advice anyone?

**ODC** · 2nd March 2013, 17:33:PM

Re: CABOT FINANCIAL CCA REQUEST, advice anyone?

People often get confused between the Deed of Assignment and the NOTICE of Assignment. The DEED is the actual sale of the debts from either the original creditor to the DCA or between two DCAs. It contains commercially sensitive information such as how much they paid for the parcel of debts. What you actually should have requested was the NOTICE of Assignment which shows when the debt was sold or assigned to Crapbot. This is a requirement under S136 of the Law of Property Act 1925

**jon1965** · 2nd March 2013, 17:35:PM

Re: CABOT FINANCIAL CCA REQUEST, advice anyone?

Well until they can comply with the CCA request they can do nothing and to be fair to them they probably won't .
As for the deed of assignment , it will be classed as commercially sensitive and you have no rights to see it. However you should have been sent a notice of assignment

**Nibbler** · 2nd March 2013, 17:47:PM

Re: CABOT FINANCIAL CCA REQUEST, advice anyone?

Sit and wait basically. Ball is in their court.

**wildeav** · 2nd March 2013, 19:45:PM

Re: CABOT FINANCIAL CCA REQUEST, advice anyone?

Thanks everyone, much appreciated. I did receive a letter stating that CABOT had taken over the debt, but no mention of either 'deeds' or 'notices' of assignment.

Is there any kind of time limit on this process or is that strictly nominal? The original request was sent one month ago today by recorded delivery. Some places say the DCA has 40 days some say 12 working days provide proof of ownership of the debt. Is there a definitive time frame by which parties must reach an agreement that would be recognisable in a court?

**jon1965** · 2nd March 2013, 20:02:PM

Re: CABOT FINANCIAL CCA REQUEST, advice anyone?

A CCA request should be replied to within 12+2 working days but there is no penalty if they do not reply within that time. They can not however enforce until they do by virtue of S77(4) (i think) consumer credit act 1974.

I am fairly sure that on either a letter from BOS or Cabot it will have said the debt has been assigned. I have had a couple that do not make it absolutely clear on the type of assignment but hey ho. By rights according to the LPA 1925 the assignment should be sent in substantial format such as special or signed for delivery however I would not want to go to court with that as my only defence

**FlamingParrot** · 2nd March 2013, 20:07:PM

Re: CABOT FINANCIAL CCA REQUEST, advice anyone?

Originally posted by wildeav View Post

Thanks everyone, much appreciated. I did receive a letter stating that CABOT had taken over the debt, but no mention of either 'deeds' or 'notices' of assignment.

The Notice of Assignment should have come from Cabot, they normally just say that the OC has assigned all of its respective rights, title and interest to the new owner. They don't have to be in a prescribed format but would say something along those lines. You wouldn't normally receive a deed of assignment because that refers to a transaction between the two parties and doesn't involve you.

Originally posted by wildeav View Post

Is there any kind of time limit on this process or is that strictly nominal? The original request was sent one month ago today by recorded delivery.Some places say the DCA has 40 days some say 12 working days provide proof of ownership of the debt. Is there a definitive time frame by which parties must reach an agreement that would be recognisable in a court?

A CCA request should be complied with in 12 days + 2 for service = 14 days. A SAR allows 40 calendar days. The account would be unenforceable as long as a CCA request is outstanding but that can be remedied at any time by sending something compliant. The account could continue to be unenforceable if they fail to provide the documents. They haven't issued a claim against you so the courts wouldn't be involved in this process.

Have you checked on the Royal Mail site that the letter was signed for?

**FlamingParrot** · 2nd March 2013, 20:13:PM

Re: CABOT FINANCIAL CCA REQUEST, advice anyone?

Originally posted by jon1965 View Post

A CCA request should be replied to within 12+2 working days but there is no penalty if they do not reply within that time. They can not however enforce until they do by virtue of S77(4) (i think) consumer credit act 1974.

I am fairly sure that on either a letter from BOS or Cabot it will have said the debt has been assigned. I have had a couple that do not make it absolutely clear on the type of assignment but hey ho. By rights according to the LPA 1925 the assignment should be sent in substantial format such as special or signed for delivery however I would not want to go to court with that as my only defence

In practice, that doesn't happen very often. Even court papers are sent via normal post, which is why so many are sent to the wrong address in order to obtain default judgment. :rant: :rant: :rant:

Even 1st Crud who won a Compliance Award of some sort

sent the NoA the same way they sent the rest of their forest of letters.

**wildeav** · 2nd March 2013, 20:30:PM

Re: CABOT FINANCIAL CCA REQUEST, advice anyone?

Yes it looks like I was notified, by normal post, a single sentence mentions the debt had been 'assigned'.

My CCA request letter to Cabot was signed for on the 6th of Feb, they wrote to me on the 27th of Feb.

**FlamingParrot** · 2nd March 2013, 22:16:PM

Re: CABOT FINANCIAL CCA REQUEST, advice anyone?

They wrote to tell you they need more time to locate the documents, which is customary with DCAs, because they don't get paperwork when they purchase debts in bulk. They need to go back to the OC to get the documents. For now just relax and wait their response. If they write again, do come back and post up.

**jon1965** · 2nd March 2013, 22:44:PM

Re: CABOT FINANCIAL CCA REQUEST, advice anyone?

Indeed I get a letter each week from Lowlife saying Cap 1 are searching their files for the agreement

**labman** · 2nd March 2013, 23:44:PM

Re: CABOT FINANCIAL CCA REQUEST, advice anyone?

Originally posted by wildeav View Post

Hi there, can anyone offer some guidance.

I sent a CCA request to Cabot Financial regarding a 13 yr old bank loan to Bank of Scotland. Total owed £7710.

Cabot took it over in Sept 2012 I haven't paid them anything because they were asking for such ridiculous installments, ie 5 x the previous payment. The last payment was November 2012 to the previous DCA.

I issued a CCA request 1 month ago and I recieved a letter today from Cabot saying they didn't have the info and they would get back to me in 40 days when they might have it! Also no Deed of Assignment would be issued because it was none of my business.

Can anyone suggest where I stand with these people?

Could you post up a redacted copy of the letter they sent to you please?

CABOT FINANCIAL CCA REQUEST, advice anyone?