Cabot Financial UK Ltd

[R0b]

Re: Cabot Financial UK Ltd

Sorry I think I've understood you point now, the issue is the name of the company the default is under correct?

Just had a quick scan on Grace v Blackhorse (not clued up on all of the CCA cases) and seems to relate to irredeemably unenforceable agreements, so for temporarily unenforceable ones Briggs LJ indicated thats another issue for another day, but he did agree as regards to other authorities like McGuffick which implies that an entry for default on unenforceable agreements can apply?

I think there would be a causation for the debtor to prove as if it is the same company but merely a change of name the debtor is still in the same position and the only issue is obviously an administrative one whether the ICO would take a point on this I have no idea.

[Sparkie1723]

Re: Cabot Financial UK Ltd

but they did exist..? see attached

Hands held high..................I stand corrected on this one Rob ...........BUT as the name has been changed ....they cannot use that name to enter information on a credit file or for anything else.
I really appreciate the info you have come up with so that I make no mistakes in my info to the ICO.
Thanks
Sparkie

[Amethyst]

Re: Cabot Financial UK Ltd

No problem ..........All Marlin entries MUST show as Cabot Financial ( Marlin) Ltd,..... NOT..... Marlin Financial Services LIMITED.
Not just my view but the ICO,s
Sparkie

There will be some changeover period of course. The reporting needs to be accurate so yes as they report entries after the change of name the new name should be entered. But for the ICO - Marlin Financial Services Limited exist and have just changed name to Cabot.... I suspect entries are put on CRA files through company codes and they need updating

[Amethyst]

Re: Cabot Financial UK Ltd

Sparks, Marlin Financial Services Limited did exist. The changed their name to Cabot Financial ( Marlin)

[Sparkie1723]

Re: Cabot Financial UK Ltd

oops, snap with R0b xxx

No problem ..........All Marlin entries MUST show as Cabot Financial ( Marlin) Ltd,..... NOT..... Marlin Financial Services LIMITED.
Not just my view but the ICO,s
Sparkie

[R0b]

Re: Cabot Financial UK Ltd

but they did exist..? see attached

[Sparkie1723]

Re: Cabot Financial UK Ltd

Marlin Financial Services has changed its name to Cabot Financial (Marlin) Ltd - see companies house number 04618038 29 March 2004 to 18 Feb 2015.

Cabot Financial (Marlin) Ltd are actually registered with the ICO, see attached PDF. Might I ask what the basis of their wrongdoing is?

Sorry if I am sounding thick but I'm not entirely understanding the issue.

It simple Rob ..........Marlin Financial Services LIMITED do not exist and never have done.........the ICO registration section have carried all these check out all the Cabot registrations etc etc and agree that Marlin Financial Services LIMITED have never existed................Grace & George Appeal Court ruling comes into play ........ all the principles of the DPA and the Misrepresentation Act.
"Quote"from the ICO Legal Guidance
A data controller must comply with all relevant rules of law whether derived from statute or common law, relating to the purpose and ways the dat controller processes personal data....................

Sparkie

[Amethyst]

Re: Cabot Financial UK Ltd

oops, snap with R0b xxx

[Amethyst]

Re: Cabot Financial UK Ltd

Marlin were taken over by Cabot (obvs) and are now Cabot ( Marlin ) - as per change of name resolution https://beta.companieshouse.gov.uk/c...pdf&download=0

[R0b]

Re: Cabot Financial UK Ltd

Marlin Financial Services has changed its name to Cabot Financial (Marlin) Ltd - see companies house number 04618038 29 March 2004 to 18 Feb 2015.

Cabot Financial (Marlin) Ltd are actually registered with the ICO, see attached PDF. Might I ask what the basis of their wrongdoing is?

Sorry if I am sounding thick but I'm not entirely understanding the issue.

[Sparkie1723]

Re: Cabot Financial UK Ltd

Can I ask everyone / anyone if they also have entered on their credit file on their Marlin information........or know of anyone with this entry shown here....... " Credit Card from Marlin Financial Services Limited (I)"
Most important.
Sparkie

[Sparkie1723]

Re: Cabot Financial UK Ltd

Ref my post 126.
I've been on to the ICO and they have carried out checks to see if Marlin Financial Services LIMITED, are registered as a bona fide legitimate business entity and are registered as such with the ICO and hold a data Controllers licence...................They don't.............the registration section at the ICO also checked companies house and agree there is no such company in existence
I have been asked to email the ICO with what I have found out and believe.
So I'm doing just that
Sparkie

[mystery1]

Re: Cabot Financial UK Ltd

I would add, and freely admit that it doesn't mean the rules haven't changed or a cock up hasn't taken place, that after many years and more than 1 act regulating debt collection, it is a stretch to think that debt collecting, as in DCAs, is now exempt from regulation. I just cannot see that they ere encouraging leg breakers to return.

M1

[R0b]

Re: Cabot Financial UK Ltd

Yeah I'd need to look into further but as discussed in the other thread, they would appear to fall within the scope of exemptions for the purpose of being able recover the debt from borrowers.

The issue that I'm still trying to get my head round is that the the exemption was put in place for SPV's (special purpose vehicles) and an SPV is usually set up for a very limited reason of owning an asset or portfolio of assets. I have a little knowledge on this but I have to admit it is really hard to get your head round how they work. The way in which SPV's work on first impression would not be what CF UK do and I don't know if there is anything within the FCA yet which limits the exemption specifically to SPV's or not.

I am still of the opinion that an argument, that the exemption rules apply only and specifically for the purpose of SPVs and businesses who no longer have authorisation cannot fall into the category of exemptions. They therefore in effect trying to circumvent the need to have authorisation to conduct their activities. If the argument mounted in the right way, could be a viable argument. I suppose it wouldn't stop CF UK from assigning it to CF Merlin/Europe and recovering that way.

Part of me on the other hand thinks that unless there is something to the contrary, CF UK could fall within the exemptions.


Just as an aside, a few points to note I've come across so far, not sure how much these guys comply but FCA is obviously alot more stricter than the OFT.

Consumer Credit Regulation Sourcebook
6.5.2 CONC - notice of assignment of rights must be given to the debtor as soon as practicable.

7.5.3 CONC - Firms must not ignore or disregard debtors claim it has been settled or disputed and must not continue for demands without providing clear evidence

[mystery1]

Re: Cabot Financial UK Ltd

It would appear that there is nothing wrong/illegal/unlawful with these companies FCA authorisations.
PT seems to have gone very quiet on this subject.

nem

It appears that almost everyone missed that part 3 CCA 74 was repealed so the argument in this thread is over. However the only person to have gone vaguely through the new rules isn't sure it's a dead duck under the new rules. [MENTION=71570]R0b[/MENTION] I haven't had any joy untangling it all yet and am at work today and the next 2 days.

Whether or not this leaves debts unenforceable and/or criminal offences committed remains to be seen as far as i am concerned and the FCA even told me they wouldn't commit on the matter as it was up to a judge.

M1