Cabot Financial UK Ltd

[nemesis45]

Re: Cabot Financial UK Ltd

[QUOTE=mystery1;585757]82A Assignment of rights


(1)Where rights of a creditor under a regulated consumer credit agreement are assigned to a third party, the assignee must arrange for notice of the assignment to be given to the debtor—
(a)as soon as reasonably possible, or
(b)if, after the assignment, the arrangements for servicing the credit under the agreement do not change as far as the debtor is concerned, on or before the first occasion that they do.

M1[/QUOTE

Defendants are receiving notices of change of claimant.
These debts are the assets of a Group of Companies i.e.
Cabot not " third party " is involved as far as I can see,

nem

[mystery1]

Re: Cabot Financial UK Ltd

It seems to be happening though, the FCA seems little bothered about any illegality PT.
I guess until it can be established when the " debts owned" by CF UK were transferred
to CF Europe and CF Marlin.
I'm still digging though!

nem

nem

82A Assignment of rights


(1)Where rights of a creditor under a regulated consumer credit agreement are assigned to a third party, the assignee must arrange for notice of the assignment to be given to the debtor—
(a)as soon as reasonably possible, or
(b)if, after the assignment, the arrangements for servicing the credit under the agreement do not change as far as the debtor is concerned, on or before the first occasion that they do.

M1

[nemesis45]

Re: Cabot Financial UK Ltd

Thing is though, they cant simply substitute, that wouldnt get them home because there is still illegallity and they cannot get away from that.

It seems to be happening though, the FCA seems little bothered about any illegality PT.
I guess until it can be established when the " debts owned" by CF UK were transferred
to CF Europe and CF Marlin.
I'm still digging though!

nem

nem

[mystery1]

Re: Cabot Financial UK Ltd

Yes really!
The claims issued with the CF UK Ltd as Claimant are being amended, how long ago the TP's lapsed I cannot track down yet.
Ms Jenner Thomas has said no more.
nem

They can amend all they want. CF Europe have no standing. They're totally fecked. Game over. Finito. Auf wiedersehen. Adios. Ciao.

M1

[nemesis45]

Re: Cabot Financial UK Ltd

Really ?

More chance of convincing a court they are licensed than convincing them that although they are not the owners the claim should stand.

M1

Yes really!
The claims issued with the CF UK Ltd as Claimant are being amended, how long ago the TP's lapsed I cannot track down yet.
Ms Jenner Thomas has said no more.
nem

[mystery1]

Re: Cabot Financial UK Ltd

exactly Nem, sorry if my post caused any offence, the bolllocks comment wasnt meant at you merely at the fact that this point keeps being raised and cabot seem to keep slipping the noose.

Whilst you're here, if they issued before the lapse can they continue afterwards if judgement has not been handed down or trial not heard but the license has lapsed in the mean time ?

M1

[pt2537]

Re: Cabot Financial UK Ltd

Hello PT no problem!!
I've seen exactly this scenario before some years ago where a similar reorganisation in a group of companies
caused some claims issued to have name of claimant amended but it took some time for this to happen and
as far as I can remember no claims were discontinued or withdrawn.
The amendment process is underway on the Cabot claims, what I can't tie down is the actual date of the lapse.

The register was supposed to be updated by 2nd week of this month, but it's not happened some other data
is outdated as well.

Nem

Thing is though, they cant simply substitute, that wouldnt get them home because there is still illegallity and they cannot get away from that.

[mystery1]

Re: Cabot Financial UK Ltd

From M Renner - Thomas
Authorisations/Licensing
FCA,

Received 5 minitues ago

I Confirm the following are authorised to carryout Authorised Consumer Credit Activities
Cabot Financial Europe Ltd
Cabot ( Marlin) Ltd.

Cabot Financial Uk Ltd TP's lapsed and is no longer authorised.

***The FCA Cannot comment on the ability of Cabot Financial UK Ltd to issue claims in County Courts of England & Wales.**** Seek Legal Advice.****

I have already seen amended claim forms replacing CF UK Ltd. with CF Europe.

nem

Really ?

More chance of convincing a court they are licensed than convincing them that although they are not the owners the claim should stand.

M1

[nemesis45]

Re: Cabot Financial UK Ltd

exactly Nem, sorry if my post caused any offence, the bolllocks comment wasnt meant at you merely at the fact that this point keeps being raised and cabot seem to keep slipping the noose.

Hello PT no problem!!
I've seen exactly this scenario before some years ago where a similar reorganisation in a group of companies
caused some claims issued to have name of claimant amended but it took some time for this to happen and
as far as I can remember no claims were discontinued or withdrawn.
The amendment process is underway on the Cabot claims, what I can't tie down is the actual date of the lapse.

The register was supposed to be updated by 2nd week of this month, but it's not happened some other data
is outdated as well.

Nem

[pt2537]

Re: Cabot Financial UK Ltd

From M Renner - Thomas
Authorisations/Licensing
FCA,

Received 5 minitues ago

I Confirm the following are authorised to carryout Authorised Consumer Credit Activities
Cabot Financial Europe Ltd
Cabot ( Marlin) Ltd.

Cabot Financial Uk Ltd TP's lapsed and is no longer authorised.

***The FCA Cannot comment on the ability of Cabot Financial UK Ltd to issue claims in County Courts of England & Wales.**** Seek Legal Advice.****

I have already seen amended claim forms replacing CF UK Ltd. with CF Europe.

nem

exactly Nem, sorry if my post caused any offence, the bolllocks comment wasnt meant at you merely at the fact that this point keeps being raised and cabot seem to keep slipping the noose.

[nemesis45]

Re: Cabot Financial UK Ltd

From M Renner - Thomas
Authorisations/Licensing
FCA,

Received 5 minitues ago

I Confirm the following are authorised to carryout Authorised Consumer Credit Activities
Cabot Financial Europe Ltd
Cabot ( Marlin) Ltd.

Cabot Financial Uk Ltd TP's lapsed and is no longer authorised.

***The FCA Cannot comment on the ability of Cabot Financial UK Ltd to issue claims in County Courts of England & Wales.**** Seek Legal Advice.****

I have already seen amended claim forms replacing CF UK Ltd. with CF Europe.

nem

[mystery1]

Re: Cabot Financial UK Ltd

Hi M1,
I'm not saying I'm correct .........but I think it must be considered..........IMO Cabot or any other debt collector has bought the debt relating to a credit agreement .......not the credit agreement.............77-79 requests must be made to the original owner...................I have noticed on a lot of threads that when one is made to a debtor collector /buyer they have to obtain a copy from the original creditor to pass on to the "alleged" debtor.
There is a creditor.....but not one actually under the CCA ........it is just a debt " allegedly owed" to the buyer.
I'm just thinking what the debt buyer "could argue" if they thought about it........... most definitely not taking their side.
I'm trying to help someone with practically the same problem with Cabot
Sparkie

http://www.bailii.org/ew/cases/EWHC/QB/2012/2402.html

M1

[Sparkie1723]

Re: Cabot Financial UK Ltd

Post 15 Sparkie covers it pretty well.

I'd also say, if what you say is correct, then when a debt is assigned then that would mean there is no creditor and as such you wouldn't have anyone to send a s77-79 request to as these go to "the creditor" s77 & s78 or "the owner" s79.

M1

Hi M1,
I'm not saying I'm correct .........but I think it must be considered..........IMO Cabot or any other debt collector has bought the debt relating to a credit agreement .......not the credit agreement.............77-79 requests must be made to the original owner...................I have noticed on a lot of threads that when one is made to a debtor collector /buyer they have to obtain a copy from the original creditor to pass on to the "alleged" debtor.
There is a creditor.....but not one actually under the CCA ........it is just a debt " allegedly owed" to the buyer.
I'm just thinking what the debt buyer "could argue" if they thought about it........... most definitely not taking their side.
I'm trying to help someone with practically the same problem with Cabot
Sparkie

[mystery1]

Re: Cabot Financial UK Ltd

Post 15 Sparkie covers it pretty well.

I'd also say, if what you say is correct, then when a debt is assigned then that would mean there is no creditor and as such you wouldn't have anyone to send a s77-79 request to as these go to "the creditor" s77 & s78 or "the owner" s79.

M1

[Sparkie1723]

Re: Cabot Financial UK Ltd

I have been reading this thread with some interest and the arguments about if or not Cabot being a creditor conducting regulated CCA business.
I have mulled all this around, as I have had arguments in Court about assignments. I am no legal mastermind of any description, and can only think logically.

In the twilight zone where I spend most of my time, I considered this;
Cabot are debt collectors and have the category on their FCA licence to do this …..No problem. They can collect debts on behalf of other parties/creditors;

This is the argument I would put forward if I was Cabot
In the case of legal assignments the discussion/ argument is if or not Cabot are in truth and fact acting as a creditor conducting consumer credit/lending business.
I don’t think they are;
They did not lend the money in the first instance.
I agree absolutely that they are conducting “a category of consumer credit business”, but not actually lending money…… They are collecting debts that they have bought. The “DEBT” belongs to them.
It is fact that No person or financial Institution needs to have a licence to collect their own debts.
They are not collecting a third parties debt, they are collecting their own……..No licence is required.
They would be collecting or attempting to collect that debt under common law.
I hope I’m wrong in this and it needs better brains than me to think about this angle. But every angle should be considered.

From the twilight zone
Rambling meandering
Sparkie