**DISCONTINUED**Howard Cohan Cockroaches and Co.

[andi-leigh2]

Re: Howard Cohan Cockroaches and Co.

Well my advice to these parasites is : "If you can't stand the heat, then get out of the kitchen" - simple as !

[andi-leigh2]

Re: Howard Cohan Cockroaches and Co.

I remember a case (got details somewhere of the exact parties) where HFO Capital Ltd went to Wandsworth County Court claiming to own the debt, by way of a chain of doubtful assignments, and the bombshell came when it transpired in evidence that they weren't actually licenced at the crucial time. Needless to say that the defendant ultimately won the case, but on the day of the hearing (I went with her as a MacKenzie Friend) the HFO bod walked out with his tail between his legs feeling badly battered. I, and I'm sure many other peeps feel that this current set of players could be replicating these old tactics. The warning signs are there when someone pays £1 for CCA and it gets applied as credit - oh yeah - really - sorry no dice !

[andi-leigh2]

Re: Howard Cohan Cockroaches and Co.

I had a read of their latest accounts at CH last night. mmmmmm interesting read !

[charitynjw]

Re: Howard Cohan Cockroaches and Co.

I dont think they are that big. They are also feeling multimillion pound losses in 13/14 and lets see about 2015. They used to be making money in 2011/2012. They have some serious staff costs to recover plus hundreds in court fees and legal costs. Most people dont pay the CCJ anyway even after they lose as they are so far in debt it doesnt matter anyway. With the new regulation with the FCA they must be finding it harder than ever. £400-£500 per CC claim must sting after a while. especially since people can wait a year or 2 and have it set aside and they are back to square one on it.

One example

"Cabot Financial Ltd made portfolio purchases of £288.9m during the calendar year 2015, in a 27 percent rise on 2014, according to its results.The company has this morning (March 17) published its annual results for 2015 and they also show Cabot’s 120-month estimated remaining collections (ERC) increased to £2bn, from £1.6bn in 2014."

http://www.credittoday.co.uk/article...nnual-results-

[MIKE770]

Re: Howard Cohan Cockroaches and Co.

Where do these Debt purchasers get their Monies at so vast amount to spend ? Westminster office?

[pandamonia]

Re: Howard Cohan Cockroaches and Co.

One example

"Cabot Financial Ltd made portfolio purchases of £288.9m during the calendar year 2015, in a 27 percent rise on 2014, according to its results.The company has this morning (March 17) published its annual results for 2015 and they also show Cabot’s 120-month estimated remaining collections (ERC) increased to £2bn, from £1.6bn in 2014."

http://www.credittoday.co.uk/article...nnual-results-

We don't know of they paid 287m. 10p in the £ that number is 28m. Also they might pay in over time as they can investigate it all at same time. I have not ran Cabot numbers but it's likely not their money but venture capitalists money looking for a return.

[charitynjw]

Re: Howard Cohan Cockroaches and Co.

Where do these Debt purchasers get their Monies at so vast amount to spend ? Westminster office?

Hi MIKE770

It is estimated that approx 90% of the demands for outstanding debt is uncontested.
Bearing in mind that the Debt Purchasers are buying them for pence in the pound, it probably isn't too difficult to raise finances
for the purchase of portfolios.

[charitynjw]

Re: Howard Cohan Cockroaches and Co.

We don't know of they paid 287m. 10p in the £ that number is 28m. Also they might pay in over time as they can investigate it all at same time. I have not ran Cabot numbers but it's likely not their money but venture capitalists money looking for a return.

What is important is the asset value.

If you buy a car, worth £5000, for £2000, what is the market value of that car?

[pandamonia]

Re: Howard Cohan Cockroaches and Co.

What is important is the asset value.


If you buy a car, worth £5000, for £2000, what is the market value of that car?

The asset value is nowhere near 100% on aged bad debt. It's a headline figure and total BS. It's worth exactly what they paid for it as it was someone was willing to pay. They may make profit on it but the value is a different story. Unless you truly understand what something is worth then you will always get ripped off. Debt is no different

[charitynjw]

Re: Howard Cohan Cockroaches and Co.

The asset value is nowhere near 100% on aged bad debt. It's a headline figure and total BS. It's worth exactly what they paid for it as it was someone was willing to pay. They may make profit on it but the value is a different story. Unless you truly understand what something is worth then you will always get ripped off. Debt is no different

The Debt Purchasers are currently realising better than 90% of the book value of the debts.

[pandamonia]

Re: Howard Cohan Cockroaches and Co.

The Debt Purchasers are currently realising better than 90% of the book value of the debts.

Not in a million years is that true. Every debt I own has a 50% off settlement offer right now. Plus if this was true then they would be realising 600% margins on what they paid. Not sitting on multimillion pound losses. What you need to understand is that most people who end up with sold debts are lost causes who don't care about Ccj and won't ever pay a penny.

[charitynjw]

Re: Howard Cohan Cockroaches and Co.

Not in a million years is that true. Every debt I own has a 50% off settlement offer right now. Plus if this was true then they would be realising 600% margins on what they paid. Not sitting on multimillion pound losses. What you need to understand is that most people who end up with sold debts are lost causes who don't care about Ccj and won't ever pay a penny.

With the deadline closing on January 11, CSA president Leigh Berkley believes a separate PAP for debt claims is completely unnecessary, especially since 90 percent of claims issued go uncontested.
http://www.credittoday.co.uk/article...l-consultation

& while it's true that in a small number of difficult cases, discounts are offered (you mention 50%), they are buying the debt for a lot less than that; do the math, lol!

[pandamonia]

Re: Howard Cohan Cockroaches and Co.

With the deadline closing on January 11, CSA president Leigh Berkley believes a separate PAP for debt claims is completely unnecessary, especially since 90 percent of claims issued go uncontested.
http://www.credittoday.co.uk/article...l-consultation

& while it's true that in a small number of difficult cases, discounts are offered (you mention 50%), they are buying the debt for a lot less than that; do the math, lol!

You realise that uncontested claim get them no money? And it cost them £500 or more every time?

[charitynjw]

Re: Howard Cohan Cockroaches and Co.

You realise that uncontested claim get them no money? And it cost them £500 or more every time?

Uncontested doesn't mean the debtor doesn't pay up before it goes to a court hearing. (Sorry about the double negative, lol!)

[andi-leigh2]

Re: Howard Cohan Cockroaches and Co.

Must say that I'm inclined to agree with you 100%. Each company is in law a separate legal entity in its own right, so regardless of the fact that they may be associated by common group ownership, for the clear cut purpose of engaging in day to day CCA activities then quite rightly so every entity needs to be regulated / authorised in its own right. This is just so simple logic, and it ceases to amaze me how some DJ's can be waffled and and BS'd in court by these parasites' legal representatives. Its all OK for the FCA to come up with their regulations and state this and state that on their fancy website, but when push comes to shove the pen-pushers at the bottom of the tree within the FCA are quite honestly quite hopeless in their abilities. Same can be said for any corporate structure, it may be all well and good for the educated people at the top writing the rules full of good intentions to run entity within all laws and statutes etc, but it all falls down when the instructions are not correctly passed down the chain of command. Many good businesses have failed through no fault of the owners / shareholders, just poor middle management and "wronguns" on the shop floor.