Cabot claimform Morgan Stanley goldfish card - settled out ofcourt

[Fred Bassett]

Just a thought. If Goldfish reduced the balance to zero, how can it go up again? Surely that's it. I've received nothing from them to say they've sold it.

 

Fred

[patrickq1]

same as me fred zero balance and no one has contacted me despite several e mails sent from me to them they just refuse to answer ? but if i do get a cobot letter i look forward to that and let the battle commence and that will consist of see you in court prosecute and be dammned

patrickq1

[Fred Bassett]

I had a letter from Cabot today:

 

I've sent them this in return:

 

Cabot Financial

PO Box 241

West Malling

Kent

ME19 4NA

 

4th July 2008.

 

Dear Sir/Madam,

Account In Dispute – I Acknowledge No Debt to your Company

 

ACCOUNT NUMBER: xxxxxxxxxxxxxxxxxxxxxxxx

Thank you for your letter dated 1st July 2008.

 

I am at a loss to understand your involvement in this matter.

 

I have an account with Goldfish, formerly Morgan Stanley. This account is in dispute owing to their inability to provide me with a copy of the properly-executed credit card agreement. This you are aware of.

 

What I can’t understand is how or why you came to be managing this account. I ask because the last correspondence I had with Goldfish was a statement of account that they emailed to me on 28th March 2008. This statement clearly shows that the balance of this account is zero. I attach a copy of it for your perusal.

 

Please answer the following questions:

 

 

• Have you purchased this zero-balanced account? If so, please furnish me with a copy of the deed of assignment from Goldfish to Cabot Financial. I have had no correspondence from Goldfish to inform me of this decision.
  
• Why has the balance on this account risen from zero to £xxxx in the space of the 10 weeks between the statement dated 28th March 2008 to the point where you originally contacted me in mid June?
  

 

It is my belief that you are committing an act of fraud by attempting to collect a ‘debt’ that does not exist.

 

I require your answer by return of post. Failure to do so may result in my reporting this matter to the police.

 

Yours faithfully,

 

 

 

Fred Bassett

 

 

 

Here is the last statement:

 

I'll see what happens. It should wind them up a bit.

 

Regards to all.

 

Fred

[rory32]

Thread moved to Debt Collection Forum.

[patrickq1]

god luck fred but i cansay tha the whole account cocerning mine with MS is being offcially looked at by the FOS an i would forward the copy of zero blance and alother correspondance to the FOS as they have shon sum concern with regards t th actionsof all these transactions of G fish Barclays then cabot..

patrickq1

[Fred Bassett]

Thread moved to Debt Collection Forum.

 

 

Thanks Rory.

 

Fred

[Fred Bassett]

god luck fred but i cansay tha the whole account cocerning mine with MS is being offcially looked at by the FOS an i would forward the copy of zero blance and alother correspondance to the FOS as they have shon sum concern with regards t th actionsof all these transactions of G fish Barclays then cabot..

patrickq1

 

Thanks Patrick.

 

My feeling is that Goldfish have made an enormous blunder by sending these statements out. I don't know how they can go back on it now.

 

Regards.

 

Fred

[davefirewalker]

Thanks Patrick.

 

My feeling is that Goldfish have made an enormous blunder by sending these statements out. I don't know how they can go back on it now.

 

Regards.

 

Fred

 

I do......

 

they can say the Zero balance is because they sold the debt on.....they "should" have sent you a notice of assignment and it "may" have got lost in the post......the worst they will get is a slap on the wrist....sorry, these worms are more wriggly than wriggly things covered in oil........

 

Dave

[vengeancedemon]

Just a question on a Cabot response to a letter I sent them advising well out of time on a CCA request etc

I served them a Statutory notice under the DPA section 10

Quote" We must advise you that Cabot is legally entitled and obligated underthe original credit agreement you signed and entered into with the original lender which has been sold to Cabot Financial Group and under section 2 par 1-4 of the DPA to process and store your information

 

As a result we regret to inform you that we shall continue to process your personal data in order to perform the credit agreement which you consented to andagreed to

Furthermore the processing of your information including providing details of your credit agreement to the credit reference bureaux is necessary for the legitimate interests of the Cabot Financial Group!

unquote

 

Are they correct? No CCA has appeared and its now 60 days after the 12=2

 

Thank you

[Fred Bassett]

Just a question on a Cabot response to a letter I sent them advising well out of time on a CCA request etc

I served them a Statutory notice under the Data Protection Act section 10

Quote" We must advise you that Cabot is legally entitled and obligated underthe original credit agreement you signed and entered into with the original lender which has been sold to Cabot Financial Group and under section 2 par 1-4 of the Data Protection Act to process and store your information

 

As a result we regret to inform you that we shall continue to process your personal data in order to perform the credit agreement which you consented to andagreed to

Furthermore the processing of your information including providing details of your credit agreement to the credit reference bureaux is necessary for the legitimate interests of the Cabot Financial Group!

unquote

 

Are they correct? No CCA has appeared and its now 60 days after the 12=2

 

Thank you

 

Well the question surely remains: "where is the original credit agreement?". How can they claim to acting under the auspices of a document they can't provide?

 

Fred

Edited July 4, 2008 by Fred Bassett

[creditcardmug]

The consent to share data is given in the signed agreement, so surely they must provide a copy of this??

[vengeancedemon]

Thank you for clarifying my thoughts

No CCA ergo no signature therefore no visible evidence

[Fred Bassett]

Dear All,

 

This ones rumbled on a bit. I've had a number of letters from Cabot telling me that they were trying to get the information from the original lender, then today I got this, which quite honestly defies belief:

 

 

I am currently drafting a letter to them in response, but I would appreciate it if somebody could advise me regarding Deeds of Assignment - what they should/should not contain, how they should be communicated etc. I'll have a look around myself but if anyone is aware of a relevant link then that would be great. If anyone's got any suggestions regarding my letter then that too would be much appreciated.

 

Below is my draft response.

 

Regards to all,

 

Fred

 

 

Cabot Financial

PO Box 241

West Malling

Kent

ME19 4NA

 

 

9th August 2008.

 

 

Dear Sir/Madam,

Account In Dispute – I Acknowledge No Debt to your Company

 

 

ACCOUNT NUMBER: xxxxxxxxxxxxxxxxxxxxxxx

Thank you for your letter dated 6th August 2008.

 

 

I am astonished at what you have sent to me.

 

 

You are asking me to accept this:

 

1. That an UNDATED letter from Goldfish in which you have hand-written the words 'Representation of letter sent 26 March 2008' actually existed and was sent to me by Goldfish on 26th March. This letter does not only lack a date, but any account details, such as the number and the outstanding balance.
   
2. That a second, also UNDATED, letter containing no personal details and containing the same hand-written words as above was also sent to me by Cabot on the same date. The letter from Cabot looks like a primary mail-merge document and contains no details relating to me or anyone else for that matter.
   

Please can you therefore answer the following questions:

 

1. I would like an explanation as to why you are unable to produce actual copies of the alleged correspondence that you refer to. It is simply unbelievable that you do not have copies of letters going back only just over 4 months.
   
2. If these letters exist, why is it that neither of them are dated? I have a file full of letters dating back several years from various organisations and these are the only 2 I have ever received that do not contain a date. I doubt that this is coincidence.
   
3. If these letters did exist as you claim, then why do neither of them contain the balance of the account?
   
4. Why, if Goldfish had sold the account to Cabot on or before 26th March, did they continue to send me statements, the last of which I received from them by email on 28th March? This last statement showed that the balance of the account was zero.
   
5. Do you have proof of posting of either of these letters? Again, It is a fantastic coincidence that I received neither of them. I believe that this is because they did not exist and therefore were not sent.
   
6. If you received this 'Deed of Assignment' from Goldfish on or near 26th March,, why did it take you until 13th June to contact me? Do you really expect me to believe that from the moment you were assigned this debt to the date you first established contact with me took more than 11 weeks?
   

Frankly, I believe that you are trying to commit fraud. The letters that you claim to have sent me in March did not exist and were not sent. By claiming otherwise, it is my belief that you are lying.

 

As stated before, the last correspondence that I received from Goldfish was on 28th March. This was a statement and showed the balance of the account to be zero. That is what it was on 28th March and that is what it is now.

 

Yours faithfully,

 

 

 

Fred Bassett

[Rhia]

Fred Bassett don't forget to point out that neither Goldfish nor Cabot has produced a copy of the original executed agreement as is your right under the CCA etc. This document should contain the prescribed terms and be signed both by yourself and the OC to be enforceable.

 

I also suggest you enclose a further £1 and a request for the CCA as now you can report them to TS following the introduction of the 2006 CCA under Unfair Terms (I think) and TS will have to investigate - they now have legal guidance on this anyway. Even if you have done this before it may have been before this new legisation came ina mon th or so ago and so it wasn't retrospective. However if you re-request it you can then go straight to TS complaint whne they don't meet the deadline.

I have one of these with Goldfish (or rather MOH does) and it is exactly the same they cannot produce either and application form/agreement which will constitute a properly executed agreement.

[gettingthere]

I have recently had the same sort of correspondence from cabot - have they sent you what they consider to be an agreement? My thread is developing along the same lines:

 

http://www.consumeractiongroup.co.uk/forum/legal-issues/154806-cabot-goldfish-defendable.html

[Fred Bassett]

Fred Bassett don't forget to point out that neither Goldfish nor Cabot has produced a copy of the original executed agreement as is your right under the CCA etc. This document should contain the prescribed terms and be signed both by yourself and the OC to be enforceable.

 

I also suggest you enclose a further £1 and a request for the CCA as now you can report them to TS following the introduction of the 2006 CCA under Unfair Terms (I think) and TS will have to investigate - they now have legal guidance on this anyway. Even if you have done this before it may have been before this new legisation came ina mon th or so ago and so it wasn't retrospective. However if you re-request it you can then go straight to TS complaint whne they don't meet the deadline.

I have one of these with Goldfish (or rather MOH does) and it is exactly the same they cannot produce either and application form/agreement which will constitute a properly executed agreement.

 

 

Rhia,

 

Many thanks. I've got so much floating around in my head that I actually forgot that they haven't an enforceable agreement. I've been concentrating on the zero-balance thing and the fact that I am absolutely certain that something funny is going on.

 

Cheers.

 

Fred

[Rhia]

Have responded on your thread getting there as don't want to hijack Fred Bassetts but yes MOH's case is identical there is simply no executed agreement just some tripe they have churned out.

[Fred Bassett]

I have recently had the same sort of correspondence from cabot - have they sent you what they consider to be an agreement? My thread is developing along the same lines:

 

http://www.consumeractiongroup.co.uk/forum/legal-issues/154806-cabot-goldfish-defendable.html

 

 

Thanks gettingthere - I was actually reading your post about 10 minutes ago. There are so many threads on here - personally I'm subscribed to over 200, that it's sometimes difficult to find what you want even when you know it's there somewhere.

 

Regards.

 

Fred

[Rhia]

Rhia,

 

Many thanks. I've got so much floating around in my head that I actually forgot that they haven't an enforceable agreement. I've been concentrating on the zero-balance thing and the fact that I am absolutely certain that something funny is going on.

 

Cheers.

 

Fred

 

Fred I totally agree something very odd is going on and I think it is that a major crdit card provider has absolutely no legally binding papwerwork. I am starting a new thread asking all Goldfish/MS victims to post their own threads so we can link and see how much of a problem this is.

[Fred Bassett]

Fred I totally agree something very odd is going on and I think it is that a major crdit card provider has absolutely no legally binding papwerwork. I am starting a new thread asking all Goldfish/MS victims to post their own threads so we can link and see how much of a problem this is.

 

I'm with you on that one Rhia. I also think that Cabot have made a huge blunder by acquiring so many Goldfish accounts. It is staggering to think that in this consumer-enlightened age, they appear not to have carried out any kind of due diligence. They could get very badly bitten by this. Shame.

 

Where will you be posting your thread? I'll keep an eye out for it.

 

Regards.

 

Fred

[Greenpea]

Could be that due to CAG Cabots funds are drying up, hence they are becoming desperate and are just trying it on.

[Fred Bassett]

Could be that due to CAG Cabots funds are drying up, hence they are becoming desperate and are just trying it on.

 

It would be nice to think so!

 

Regards.

 

Fred

[creditcardmug]

Hi fred, i also have the same rubbish from Cap1, after CCAing them, then sold to Cabot, complaint letter sent i.e. acc in dispute, Cabot keep sending out the same letters, they are trying to get the docs from goldfish.

I actually have two with cabot goldfish and morgan stanley.

They obviously dont have anything that would stand up in court if challenged, so i would suggest taking them all the way with this, as i intend to do.

Cabot also seem to think the responsibility seems to lie with the OC re the CCA request, not withstanding the new regulations which came in in may, although i havent yet taken them to task on this.

[tinkerbell20]

I know that they are sending photocopies of some agreements but no prescribed terms. However they are scanning terms & conditions on the back trying to make out they were on the back and therefore enforceable.

[Fred Bassett]

Hi fred, i also have the same rubbish from Cap1, after CCAing them, then sold to Cabot, complaint letter sent i.e. acc in dispute, Cabot keep sending out the same letters, they are trying to get the docs from goldfish.

I actually have two with cabot goldfish and morgan stanley.

They obviously dont have anything that would stand up in court if challenged, so i would suggest taking them all the way with this, as i intend to do.

Cabot also seem to think the responsibility seems to lie with the OC re the CCA request, not withstanding the new regulations which came in in may, although i havent yet taken them to task on this.

 

Hi creditcardmug, I think Cabot could be in serious trouble with this - not just in the financial sense but in the way in which they are concocting 'agreements' and 'deeds of assignment'. They won't be getting a penny from me, that's for sure and I hope to hell they take me to court.

 

Regards.

 

Fred

Edited August 9, 2008 by Fred Bassett
Typo - I bloody hate typos.