Cabot Financial UK Ltd

[FlamingParrot]

Re: Cabot Financial UK Ltd

In view of the above, is this something that should go in every defence where the claimant is Cabot Financial (UK) Limited? Something like: "At the time the claim was issued, the claimant was not in possession of a valid Consumer Credit License as required under s.21(1) of the Consumer Credit Act 1974"?

[meellis]

Re: Cabot Financial UK Ltd

My question's would be what would be the punishment and if they sorted their licence could they just re-issue claims?

[mystery1]

Re: Cabot Financial UK Ltd

My question's would be what would be the punishment and if they sorted their licence could they just re-issue claims?

2 years or a fine.

Res judicata is a bit of an issue.

M1

[meellis]

Re: Cabot Financial UK Ltd

Well with the financial industry that means a fine that goes into coffers that never helps the victims, nobody held to account and then forgotten about ready for the next in a long line of scandals. Joe average abides by rules, regulations and laws in the belief they will get hung drawn and quartered but the finance industry will continue to take the p**s because they know the authorities are ineffective and they can run rings around laws due to finances so that just leaves them paying fines that go down as losses and they come up with another scheme to recoup these. Even though we should never give up, and hats off certainly to the likes of PT it does get a bit tiresome (my opinion).

[FlamingParrot]

Re: Cabot Financial UK Ltd

Well with the financial industry that means a fine that goes into coffers that never helps the victims, nobody held to account and then forgotten about ready for the next in a long line of scandals. Joe average abides by rules, regulations and laws in the belief they will get hung drawn and quartered but the finance industry will continue to take the p**s because they know the authorities are ineffective and they can run rings around laws due to finances so that just leaves them paying fines that go down as losses and they come up with another scheme to recoup these. Even though we should never give up, and hats off certainly to the likes of PT it does get a bit tiresome (my opinion).

I would be inclined to agree if it was just a matter of one more company being fined like, say, Barclays has been, it doesn't make much difference to the rest of us. The main issue here is that Cabot are issuing lots of claims right at the time they are unauthorised. If that fact can be used in favour of the defendants, then it doesn't fall into the category above.

[PAWS]

Re: Cabot Financial UK Ltd

Forgive me if I am being a bit ignorant here but…..Would this would be the same FCA that apparently turned a blind eye to the fact that Banks had outstanding CCJs against them when they renewed their credit licences? Oh aye, we can sit back and leave everything in their capable hands.

[meellis]

Re: Cabot Financial UK Ltd

One thing that should be considered is how pressure could be applied so they can't renew their licence.

[mystery1]

Re: Cabot Financial UK Ltd

Forgive me if I am being a bit ignorant here but…..Would this would be the same FCA that apparently turned a blind eye to the fact that Banks had outstanding CCJs against them when they renewed their credit licences? Oh aye, we can sit back and leave everything in their capable hands.

But we aren't though. Each defendant has statute on their side. CCA s39 and s40.

M1

[nemesis45]

Re: Cabot Financial UK Ltd

Nem
Disagreements aside I hope your son is ok. If it means anything , many major heart problems are routine these days and people go on to live full and active lives after surgery

Thank you Jon that is much appreciated.

nem

[nemesis45]

Re: Cabot Financial UK Ltd

When one looks at the new make up and the companies which
are now part of the new Cabot ( Marlin) group of companies and compare
this with other large debt purchase / debt collection groups, e.g.
Lowell, Fredrickson, Interlaken, with "trading styles" for various arms
Connaught, Red etc.
within the organisation all carrying out " authorised" activities
My guess is ( until I get the full view and information from the FCA)
is that Cabot Financial UK Ltd " trades" under a group licence.
nem

[MIKE770]

Re: Cabot Financial UK Ltd

This is what was suggested weeks ago?

[nemesis45]

Re: Cabot Financial UK Ltd

This is what was suggested weeks ago?

Yes.

[Berniethebolt]

Re: Cabot Financial UK Ltd

Would this be something that the likes of MoneyBox , or Watchdog would be interested in? I am sure Paul Lewis would go for it

[Nibbler]

Re: Cabot Financial UK Ltd

Group of companies' accounts made up to 31 December 2014

[Berniethebolt]

Re: Cabot Financial UK Ltd

The second part of that document shows just how much power undemocratic pressure groups have on legislation.
Because they fear it will reduce their profits they will do everything they can to stop it in its tracks

Do group licences still exist, I thought that they were being phased out