Cabot Financial UK Ltd

[nemesis45]

Re: Cabot Financial UK Ltd

The point was made to clarify the situation that the alleged lack of TP's should not be relied up on.
Personally I don't know if anyone reading post on this forum have or are about to use this in a defence
as we know many read the forums without posting here and " do their own thing" and only come to
post when something goes wrong.
I agree in principal to using the point but with great care.

[nemesis45]

Re: Cabot Financial UK Ltd

Whilst trawling the murky depths of the Cabot empire I found the following
Under the heading Cabot Credit Management Group: Our Companies:
DLC Debt Collection Agency.

The link goes to a DLC site the states DLC is a trading style of Hillesden Securities.

I'm looking for more links to licensing.

nem

[Berniethebolt]

Re: Cabot Financial UK Ltd

Indeed Cabot bought Hillesden relatively recently

http://www.credittoday.co.uk/article/17791/online-news/cabot-credit-management-announces-acquisition

http://www.dlcuk.com/cabot-credit-ma...-acquires-dlc/

As far as i am aware , as of yet the two empires have not been fully integrated , well certainly as far as my account with them goes it is still run by Hillesden

It appears they are still using their IP although the details have been updated with a contact at cabot
http://fca-consumer-credit-interim.f...rSearchPageNew

[nemesis45]

Re: Cabot Financial UK Ltd

Interesting how only DLC is mentioned in the Cabot Credit Management portfolio.

[Berniethebolt]

Re: Cabot Financial UK Ltd

Interesting how only DLC is mentioned in the Cabot Credit Management portfolio.

Probably because they are still using the name and people recognise it. There is no mention of the other names that Hillesden use such as MDB.

Personally in that case I can not see anything wrong, the cabot (uk) is to me an admin cock up that will no doubt cost someone their job and cost the group a lot of money sob sob sob, oh I am inconsolable

[Sparkie1723]

Re: Cabot Financial UK Ltd

I have been made aware of the fact that entries are being made on peoples credit files as shown by this example this was as it stood as of today on the persons credit file
Credit Card from Marlin Financial Services Limited (I)/ XX5667

There is and never has been a legal entity such as Marlin Financial Services Limited.
You will see from their FCA Licence that they even registered as a Limited Company.
If You check Companies House only the trading name of Marlin Financial Services were registered as a company and that's now dissolved
Can’t conduct Consumer Credit as pt has already pointed out……not on their licence.
Can’t be lawful/legal IMO lowly opinion.
But as you know I talk rubbish most of the time

Firm name:		Cabot Financial (Marlin) Limited
Interim Permissions reference number:		537243

	Names
Registered Name	Cabot Financial (Marlin) Limited
Previous Registered Names	Marlin Financial Services Limited
Trading Names	Marlin, Marlin Financial, Bramber Debt Recovery, Marlin Credit Management, MFS, BDR, Marlin Financial Services, Bramber;Cabot Financial;Cabot

Firm name:		Cabot Financial (Marlin) Limited
Interim Permissions reference number:		537243

Debt administration	Debt administration	Active
Debt collecting	Debt collecting	Active

No right to canvass off trade premises

[nemesis45]

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

[MIKE770]

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

Noted!

[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

[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

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

[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

[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

[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.

[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