Cabot and the saga of Appointed Representatives

[Dazzled]

Hi everyone,
After battling with DCA's over the last couple of years with great success using information absorbed from this brilliant site, I'm now in need of a bit of clarification as I'm struggling to accept the concept of appointed representatives by companies that are no longer registered with the FCA....in particular Marlin/Cabot or whatever they're calling themselves today.

As I've read on lots of threads, particularly those of PT2537, The FCA are allowing 'non-registered' companies to appoint a 'registered' company to act of their behalf for the purposes of chasing/collecting their bought debts. Now, I may be a bit dim, but how on earth can this be legal?? I thought that if you were not registered to do business in the consumer credit business then that's it...you can't. You can't contact people, pass on their personal data to another company, sell on the debt etc etc.

So the question here is, how can they appoint someone else when it states on the FCS website that "The principle is responsible for the appointed representative's activities". Surely if the principle is responsible then they are also accountable therefore breaking the rules?? Or am I simply going mad!!

[Dazzled]

Re: Cabot and the saga of Appointed Representatives

Any help here would be really appreciated. Thanks

[Amethyst]

Re: Cabot and the saga of Appointed Representatives

Hi Dazzled, Apologies for not spotting your post yesterday xx

It is a bit of a big topic, and I am afraid I don't know the definitive answer.

With Cabot, they are authorised and have trading names authorised - so the one licence covers the listed companies.

Cabot Credit Management Group Limited - Firm 677910 - Authorised

Midland Credit Management India Private Limited
Cabot Financial (Europe) Limited
Apex Credit Management Limited
Cabot Credit Management
Cabot Financial (Marlin) Limited

Then they have their appointed representative firms
Cabot Financial (Marlin) Limited (t/as CFM,Cabot,Cabot Financial)
Cabot Financial (Europe) Limited (t/as CCM,CCm,CFE,Cabot,Cabot Credit Management )


Which can act on their principal's licence - ie. Cabot Credit Management Group Ltd. ( and the principal takes the fall if there are any breaches)

[Dazzled]

Re: Cabot and the saga of Appointed Representatives

Thanks for the reply Amethyst.

Yes, I understand the concept of what they're doing (although it seems bonkers that they don't just get authorised themselves and stop confusing everyone!!), but if a CCC is issued does this have to be in the name of the company that actually owns the debt (and not authorised) or can the representative bring the claim? I always thought only the owner of a debt could do this?

[Amethyst]

Re: Cabot and the saga of Appointed Representatives

The company that owns the debt should bring the claim.

Which company is bringing the claim against you?

[Dazzled]

Re: Cabot and the saga of Appointed Representatives

Cabot Financial (UK) Limited, who according to the FCA register have a lapsed registration.

[mystery1]

Re: Cabot and the saga of Appointed Representatives

Put them to strict proof and see what turns up. If they don't, they lose. That's what i'd do unless a judge had already ruled otherwise. I wouldn't believe evrything that Cabot say on the matter.

M1

[Dazzled]

Re: Cabot and the saga of Appointed Representatives

Thank you for the replies.
So far they have issued a claim and I am defending it. I've asked for proof of debt from Restons who basically told me they didn't have to supply anything as I should already have copies of everything anyway. I've sent a CCA request off to Cabot with my £1 fee and of course they don't have any paperwork either and they've requested it from Capital 1.

So state of things at the moment is the case is stayed until they produce something. What is apparent is that Restons have issued the claim in a rush as it was due to be SB in March and have done so without even one shred of evidence and a client who doesn't appear to be registered with the FCA.
I just want to be sure I'm talking sense when I write to them and tell them as much!

[R0b]

Re: Cabot and the saga of Appointed Representatives

How long have they stayed the claim for? You could consider a strike out on the basis of abuse of process especially if the claim was likely to be statute barred.

You may wish to take a look at this particular case and more specificially paragraph 37 which may be of use to you -> http://www.bailii.org/ew/cases/EWHC/Comm/2007/642.html.

P.s. if CF UK is the claimant and their licence has lapsed then they are of course comitting a criminal offence, I would disagree that they are covered by the supposed "group company" as the FCA does not issue group licences, each business has to have their own as far as I believe. It was only under the OFT's remit that group licences were issued and subsidiaries could use it.