Restons Letter before action

[oracle1]

Re: Restons Letter before action

I sent them a copy of my letter to Cabot requesting CCA information and a letter requesting that they provide me with Default notice, Notice of assignment, Deed of assignment and settlement of accounts. It was a template letter. I did not mention CPR 31.14

[warwick65]

Re: Restons Letter before action

Ok thanks, was just checking.

it is up to Restons if they want to be unreasonable or not but it is stuff you can put in a defence if it is needed.

[oracle1]

We have just received a letter from Cabot which includes a a statement of account and and signed agreement. signed in 2012. None of this is on letter headed stationery. They say it may be reconstituted.

They say they consider the agreement enforceable and threaten a county court judgement.

Not sure where to go now. Any advice would be appreciated.

[warwick65]

Well they are still only threatening.

It is hard to know what to suggest at the moment because there are other arguments that may make the debt unenforceable in law.

Have a close look at the agreement, something to look for is wording that refers to clause x or overleaf and make sure it is all there.

This was a loan taken out in 2012.

Do you know what the term of the loan was, how many months and when it was sold to cabot.

Also who exactly is the creditor, cabot financial (UK) or something else.
Sometimes that only becomes obvious when/if the claim is issued

[oracle1]

I believe Cabot bought the debt from Sainburys Bank. The loan term was 3 years

[warwick65]

I was wondering when it was sold to cabot. If it was sold before the end of the fixed term, they should have produced a valid default notice before it was sold

[oracle1]

I dont think that was the case. I suppose if it goes to court we have no chance. Is it worth making them an offer?

[MIKE770]

I dont think that was the case. I suppose if it goes to court we have no chance. Is it worth making them an offer?

do not panic they hope you do, slow down and digest with other alternative

[warwick65]

Hi

I would certainly not be making an offers at the moment, contrary to what was said early on in this thread it will not necessarily stop any action and definitely won't stop any judgement if that is right.

If it were me I would be thinking about talking to a lawyer to get some free initial advice regarding prospects of defending the claim should it arrive. I know two firms that offer free initial advice

1 is Joanna Connolly solicitorsDiana M

The contact details are in the signature of her posts - she posted earlier on this thread

Another is PT2537 who also posts on this forum

Remember get free initial advice and make an informed decision from there

[Diana M]

We have just received a letter from Cabot which includes a a statement of account and and signed agreement. signed in 2012. None of this is on letter headed stationery. They say it may be reconstituted.

They say they consider the agreement enforceable and threaten a county court judgement.

Not sure where to go now. Any advice would be appreciated.

You've received a Letter Before Claim because they are obliged to do that under Pre Action Protocol. They must give you 30 days to respond before they can issue a claim.

What is the date on that LBC so you can make a diary note of the deadline. Between now and then you need to do some research on this debt which is your son's.

First of all has your son sent a Subject Access Request to Sainsbury's to get the full history of the account because that will be invaluable. The Transaction Log in particular could hold key information on what did/didn't happen and when.

Secondly, who is the actual owner of the debt. Is it Cabot Financial Ltd or Cabot Financial (UK) Ltd. It matters.

The correspondence might be coming from the Cabot Group or similar but it's essential to know who the debt was assigned to by Sainsbury's. They can have all the documents in the world, but if they can't prove they own the debt then it matters little.

You say the letter refers to the document they sent you as being "reconstituted" which isn't enough in itself since they'll have to prove that the recon is 'honest and accurate' by being challenged on where they got the information from etc. How did your son apply for this loan?

I suggest you get someone who's qualified to look at the documents they've sent you before you assume they're in good order. They may "consider" the agreement enforceable but would a court? (That's a rhetorical question.)

Making an offer does not guarantee they won't issue a claim. In fact it can sometimes have the opposite effect if the offer is perceived as a sign of weakness or rejected and used in court proceedings as an admission of the claim (if one is issued).

Your son must do what feels right for him, but in order to make an informed decision he needs to know his legal position first. He has 30 days from the date on that letter to establish that and respond accordingly.

Di

[MIKE770]

Subject Access Request Letter

[oracle1]

Thank you. I will send for an SAR letter and get more info

[oracle1]

In a letter from Restons last year it says "we are instructed by our client Cabot Financial (Europe) Ltd, appointed by your creditor Cabot Financial (UK) Ltd. to seek payment...."

Cabot Financial UK acquired the rights to the account on August 26th 2016