**DISCONTINUED**Howard Cohan Cockroaches and Co.

[pandamonia]

Re: Howard Cohan Cockroaches and Co.

hoist portfolio are not registered with the FAC this means you can not deal in consumer credit or debt therefore if they try to take you to court they will be in court as unlicencd company see this txt from uk gov site
What you need consumer credit authorisation for

You must check if your firm’s proposed business means you need FCAauthorisation to carry out regulated consumer credit activities such as:

• selling goods or services on credit (including hire purchase)
• hiring or leasing out goods for more than 3 months
• lending money
• issuing credit cards
• arranging credit for other people
• collecting or purchasing 
consumer credit debts
• helping people with debt problems or advising on people’s credit standing

they come under this rule check my link to FCA page your see them as canceled

- - - Updated - - -

that was from this site
https://www.gov.uk/offering-credit-consumers-law

Yes I noticed that they are cancelled and also not UK based so can't even get FCA licence. What about Robinson way though as they are chasing this debt under an interim licence... But they are not the owners of the debt as hoist are!

[charitynjw]

Re: Howard Cohan Cockroaches and Co.

Yes I noticed that they are cancelled and also not UK based so can't even get FCA licence. What about Robinson way though as they are chasing this debt under an interim licence... But they are not the owners of the debt as hoist are!

http://www.sra.org.uk/solicitors/cod...ctivities.page

[pandamonia]

Re: Howard Cohan Cockroaches and Co.

http://www.sra.org.uk/solicitors/cod...ctivities.page

Is this as big a game changer as i think it is?

[Amethyst]

Re: Howard Cohan Cockroaches and Co.

MKDP and ROb Way both have interim licences, likely to change to full licences ( unless they ditch and Hoist has the full licence). Hoist are collecting. Hoist own MKDP and Rob Way. MKDP and Rob Way can have Hoist collect. Things seem to be in transition. and of course the FCA won't say anything about it except that Hoist don't have a current licence as that's the position at the date of asking.

I'll find the longggggggg thread about Cabot's licence for you - http://legalbeagles.info/forums/show...nancial-UK-Ltd ( read the last page first )

[pandamonia]

Re: Howard Cohan Cockroaches and Co.

MKDP and ROb Way both have interim licences, likely to change to full licences. Hoist are collecting. Hoist own MKDP and Rob Way. MKDP and Rob Way can have Hoist collect. Things seem to be in transition.

I'll find the longggggggg thread about Cabot's licence for you.

Well looking at my credit file.

Hoist Portfolio 2 - Cancelled
1st Credit (Finance) LTD Lapsed
Cabot (Europe) Lapsed
Arrow Global LTD - Interim Only.

Now i have seen claims from my bother who currently has claims from Capquest (also Lapsed) and Hoist 2 ( cancelled ) So technically both these companies do not have a FCA licence to collect on those claims.

Now surely Hoist cant legally buy debt now as not FCA but can they legally sell the debt? as yet again this is transferring CCA regulated agreements and being held by a non FCA approved company. Also how can a company who doest own the debt claim in court that i should pay them? Surely only a FCA licensed collector can take action using a solicitor acting on behalf of the FCA licensed debt owner? As on the claims ive seen from my brother the unlicensed company is the one claiming!

Also is it not suspect that NONE of these companies have a full licence yet? My company who i work for has a Full FCA licence with our interim being converted to full in Jan 2015. So Apr 2016 and these full time debt companies dont yet have a full licence???

[charitynjw]

Re: Howard Cohan Cockroaches and Co.

MKDP and ROb Way both have interim licences, likely to change to full licences ( unless they ditch and Hoist has the full licence). Hoist are collecting. Hoist own MKDP and Rob Way. MKDP and Rob Way can have Hoist collect. Things seem to be in transition. and of course the FCA won't say anything about it except that Hoist don't have a current licence as that's the position at the date of asking.

I'll find the longggggggg thread about Cabot's licence for you - http://legalbeagles.info/forums/show...nancial-UK-Ltd ( read the last page first )

Good morning Amethyst

I thought the MK mob were in liquidation & are now just a trading style of Hoist?

[Amethyst]

Re: Howard Cohan Cockroaches and Co.

Not as far as I know. Compello was bought by Hoist so presumably it's all being reorg'd into one entity but none of them are in liquidation.

https://beta.companieshouse.gov.uk/c...filing-history

Operations

Hoist Finance is one of the largest players in the UK and offers both debt purchase and third-party debt servicing operations. It has two collection centres: the main centre in Manchester and a centre in Milton Keynes that was part of the Compello acquisition.
Extensive regulatory and compliance requirements are creating higher barriers of entry for any new players. The UK has seen an increasing level of oversight that is now a significant part of debt purchasing transactions.
Due to new regulations, the Financial Conduct Authority (FCA) is expected to approve Hoist Finance’s new permit application during 2016. By achieving FCA approval and maintaining a strong reputation for compliance, we will be able to continue to position ourselves as a preferred partner that can ensure that customers are treated fairly and responsibly.
We have grown rapidly in the UK since acquiring our first portfolio there in 2011. This was followed by the acquisitions of Robinson Way in 2012 and the Lewis group in 2013.

[pandamonia]

Re: Howard Cohan Cockroaches and Co.

As a hobby legal eagle but a professional sales expert i often cringe at how poorly some arguments are put forward and often end up up in the wrong judgements based on flawed and badly constructed arguments. If they had even 10% of my skill they would be able to argue that:

An unlicensed subsidiary or sister company who are using the licence of another part of their group in order to enforce regulated credit agreements is nothing more than a circumvention of the regulation. Would we allow Tesco checkout workers sell loans and credit card agreements because Tesco finance has a FCA licence? How would the FCA ensure that a 10,000 employee company understands the legal aspects required to ensure that regulation isnt reduced to a farce which can be circumvented by buying 10 shares in another company who is licensed and claiming to be using their license without going through all the required checks and balances. The FCA conduct requirements for managing debt, giving advice and collecting debts would have to be adhered and a sister company who isnt licensed has no requirements to adhere to any of those rules.

If you paint the right picture they will come! Its not what you know, its what you can convince others that you think you know

Im not great with written words but verbally i can be very persuasive

[pandamonia]

Re: Howard Cohan Cockroaches and Co.

Since hoist are not FCA approved yet would a complaint to the FCA about them continuing to chase debts using companies with no license have an impact on them being rejected from approval?

[Amethyst]

Re: Howard Cohan Cockroaches and Co.

Make a complaint to the FCA , it won't hurt you.

So on your case, it's a credit card, coming up to statute barred ( as the £1 payment was misallocated from a CCA request) and MKDP have sent a letter before action.

When are you counting the 6 years from ? Last payment ( pre £1 obvs) or default ?

Personally, unless you want to settle on a full and final for 30/40% of the debt now to definitely avoid a CCJ I'd wait and see if they bring court action before it goes SB. It is likely they wouldn't comply with the CCA with it being a 2005 opened account, although it could be an online app - which card company is it? If Cap One then they do tend to come up with the agreements as they are standard. If it goes to court and they do come up with the agreement then it is likely you'd be able to get a consent order for installment or reduced settlement payments, but of course as with everything there is a risk they would find the docs and insist of full settlement or proceeding to a hearing.

[pandamonia]

Re: Howard Cohan Cockroaches and Co.

Make a complaint to the FCA , it won't hurt you.

So on your case, it's a credit card, coming up to statute barred ( as the £1 payment was misallocated from a CCA request) and MKDP have sent a letter before action.

When are you counting the 6 years from ? Last payment ( pre £1 obvs) or default ?

Personally, unless you want to settle on a full and final for 30/40% of the debt now to definitely avoid a CCJ I'd wait and see if they bring court action before it goes SB. It is likely they wouldn't comply with the CCA with it being a 2005 opened account, although it could be an online app - which card company is it? If Cap One then they do tend to come up with the agreements as they are standard. If it goes to court and they do come up with the agreement then it is likely you'd be able to get a consent order for installment or reduced settlement payments, but of course as with everything there is a risk they would find the docs and insist of full settlement or proceeding to a hearing.

Its a barclay card credit card. The £1 i paid may be for the reason you mentioned above if you get my drift then it would be SB in June. If i cant make that fly then SB in Jan.

As it stands currently Hoist 2 own the debt, i cant see who owned it before Hoist 2, it may have been MKDP. Hoist 2 is based in Jersey so i dont see how they can legally collect on debt in the UK due to the FCA rules on UK based companies can only get licences and im guessing thats why they are "cancelled" and not "lapsed" Im sure that it will be Howard Cohen who end up acting on behalf of Hoist 2. Which if this happens i dont know how they will enforce a debt without any FCA licence to collect debts. Hoist 2 are not even on companies house. Hoist Finance UK are and they have a net worth thats massively decreased since 2013 and still dont have a full FSA licence...

Im still wondering how a company registered in Jersey who owns my debt can enforce it without any FSA licence... If Hoist UK try and enforce then surely they dont own the debt? You cant move assets around different companies especially debts due to the assignments required? They have to be sold for fair and reasonable values or you end up with laundering and tax problems. Especially involving channel island companies who currently dont pay any UK tax

[pandamonia]

Re: Howard Cohan Cockroaches and Co.

Another thing on Hoist & Robinson way.

The latest accounts show both companies hemorrhaging money. £5M and £4M net losses for 2 years in a row they have big losses. They bought 270,000 records from Santander. Thats a LOT of people to chase being a pain in the ass Their liabilities are growing and their net worth is going backwards. Im guessing their networth gets written down every year they fail to recover debt and the debt becomes worth even less. Id love to see 2015 accounts and see if this trend is continuing.... Lets keep fighting these and put them out of business!

[dambuster]

Re: Howard Cohan Cockroaches and Co.

Make a complaint to the FCA , it won't hurt you.

So on your case, it's a credit card, coming up to statute barred ( as the £1 payment was misallocated from a CCA request) and MKDP have sent a letter before action.

When are you counting the 6 years from ? Last payment ( pre £1 obvs) or default ?

Personally, unless you want to settle on a full and final for 30/40% of the debt now to definitely avoid a CCJ I'd wait and see if they bring court action before it goes SB. It is likely they wouldn't comply with the CCA with it being a 2005 opened account, although it could be an online app - which card company is it? If Cap One then they do tend to come up with the agreements as they are standard. If it goes to court and they do come up with the agreement then it is likely you'd be able to get a consent order for installment or reduced settlement payments, but of course as with everything there is a risk they would find the docs and insist of full settlement or proceeding to a hearing.

ok need to put all this right
1 you need FCC license to have any dealing with consumer credit
2) well no license is in force a company can not act in any way to enforce because they are not regulate for any activity in that filed
however due to people at FCC dont seem to know the uk goverment rules clearly shown on gov website this is allowing companys like hoist portfolio holdings 2 ltd
to own the debt and get robbingson way to process it
however the more you look into it the more the law is confusing
if you own a consumer credit file
you instructed someone IE a firm to collect that debt you are making a action on a consumer debt. To make such a action means you have processed it well if your not licence can this be right? also you need to look at other acts of law which now aids you how ever i will email the right person this week to get clarification on what this means and make the FCC know that there staff are not up to date with uk law
]

[Amethyst]

Re: Howard Cohan Cockroaches and Co.

RAO

60J Administration pursuant to agreement with authorised person

A person who is not an authorised person does not carry on an activity of the kind specified by article 60B(2) in relation to regulated credit agreement if that person exercises or has the right to exercise the lender's rights and duties under the agreement pursuant to an agreement with an authorised person who has permission to carry on an activity of the kind specified by article 60B(2).


......

60B (2) It is a specified kind of activity for the lender or another person to exercise, or to have the right to exercise, the lender’s rights and duties under a regulated credit agreement.

[pandamonia]

Re: Howard Cohan Cockroaches and Co.

RAO

60J Administration pursuant to agreement with authorised person

A person who is not an authorised person does not carry on an activity of the kind specified by article 60B(2) in relation to regulated credit agreement if that person exercises or has the right to exercise the lender's rights and duties under the agreement pursuant to an agreement with an authorised person who has permission to carry on an activity of the kind specified by article 60B(2).


......

60B (2) It is a specified kind of activity for the lender or another person to exercise, or to have the right to exercise, the lender’s rights and duties under a regulated credit agreement.

The authorised person has to work for the licensed company though.

I sell leasing at work and i know who in our company is authorised. The documents we sign are written and owned by one company in the group. If we have a problem with the agreement then we pass to the solicitors but at all times they act on behalf of the FCA licensed parent company as the documents are CCA Regulated and in the name of that licensed company.

For example we cant use our license as the parent company to sell regulated rental agreements in the name of one of our sister or subsidiary companies. When they do a rental agreement they use our documents and the agreements are in our name... See the difference?