Citigroup to sell Cabot ?????

[cerberusalert]

Even MB isn't that perverted, he does have some standards:D

[fuzzybobble]

We should get together and buy a few DCA's ourselves. Then buy up loads of debts. Pay for them with a 6 year old Barclaycard, lose all the debts we bought, then CCA Barclaycard.

 

Also sack Uncle Bob from 1st Credit too.

[Newborn]

Are we missing a trick here? If your account is in dispute surely it cannot be sold on either as a single account or as part of a job lot?

 

So should we not all individually be writing to Cabot to remind them of this little OFT requirement?

 

Also, we need somehow to ensure that potential purchasers are informed that a lot of accounts are in dispute and that they may well be buying a real lemon.

 

Now, Cabot and the purchaser could claim that it is still the same company with the same people etc but the actual owners of the debt will be different.

 

This may be where the Cabot UK / Cabot Euro bit is used to cloud the issue.

 

i.e. the collecting arm (Euro) is sold on and the 'owners' (UK) maintain ownership.

 

But does this put a new (unlawful) information controller in the mix?

 

Can one of the legal experts on this site give us any guidance?

 

Newborn

[ODC]

Even MB isn't that perverted, he does have some standards:D

Unlike the DCAs who have the standards of a parasitic leech

[master woody]

whats going to happen to DCAs in a few years, if banks are only loaning to AAA risk customer and even then a small number of loan. DCAs might have a few years left out of the credit boom, then its all over

 

fewer loans = fewer defualts

lower risk loans = fewer defualts

more regulation= fewer defualts

informed punters = fewer enforcements:D

 

The DCA trough is going to dry up

[Newborn]

Good observation master woody!

In the interim they will try to mop up what they can so expect a bit of a binge of letters / phone calls etc.

 

Newborn

[fuzzybobble]

Ready and waiting here.

 

Things on the DCA side have been a bit quiet for me, so had to resort to posting funny things about them on Youtube to keep me amused.

 

Printer is all primed with new ink cartridges and all ready to roll out more letters to waste the time of DCA's who bought a lemon.

[master woody]

fuzzy quick question, hows your credit score?

[REST ON A SUNDAY]

Maybe I'll not bother - I couldn't afford that many washers.

 

 

IF YOU READ THIS THREAD AND SEE THAT GE MONEY ARE HAVING TO PAY COMPENSATION FOR HARRASMENT IN AUSTRALIA

 

THEN THOSE WASHERS WILL HAVE TO BE MADE OUT OF PLASTIC

 

http://www.consumeractiongroup.co.uk/forum/debt-collection-industry/169176-ge-money-pay-compensation.html

[fuzzybobble]

fuzzy quick question, hows your credit score?

 

It has more red blobs on it, than a DCA employees face.

[mr.ton]

I think my credit score is -100000000000000000000000000000000000000

[spamheed]

I think my credit score is -100000000000000000000000000000000000000

 

Wow, that high?

[mr.ton]

Wow, that high?

 

Can anyone go lower than that score of mine?

[fuzzybobble]

Mr Ton, How about starting a thread where peeps can post their laughably bad credit files? With personal info removed, just like with CCA's that get posted on here.

 

Then we can find out who has the most red blobs on their credit file? and the most searches from DCA's too. Could be quite a good competition to have.

[master woody]

I only ask as it seems to me the only leverage the dca's have on us is telling storys to the CA's

[FANTASY CHARGES]

"

"

Citigroup Shares Fall as Profit Outlook Deteriorates (Update1)

By Steve Dickson

 

Nov. 20 -- Citigroup Inc. fell 26 percent in New York trading, after losing almost a quarter of its value yesterday, as concern intensified that the U.S. recession will generate losses and weaken demand for financial services.

Citi, down for eight of the past nine trading days, declined $1.69 to a 15-year low of $4.71 on the New York Stock Exchange at 4:08 p.m. The stock, which fell as low as $4.39, slumped even after Saudi billionaire Prince Alwaleed bin Talal said he would boost his stake in the New York-based bank.

Buffeted by four straight quarterly losses, Citigroup has raised about $75 billion since December by selling assets and equity stakes, including a $25 billion injection from the U.S. Treasury. Alwaleed would have to spend about $350 million to boost his stake to 5 percent from 4 percent, based on yesterday's closing price.

``They're long-term investors, and that's about the only kind of person putting money in here these days,'' said Ralph Shive, chief investment officer at 1st Source Corp. Investment Advisors in South Bend, Indiana, which manages $3 billion. ``I suspect there's more to go in that this is the center of the hurricane.''

Chief Executive Officer Vikram Pandit said this week Citigroup will cut 52,000 jobs in the next year, double the target announced in October, as loan losses surge and the economy shrinks."

"

[FANTASY CHARGES]

,CITIGROUPS SHARE PRICE

 

[Pinky69]

It's certainly going down the tubes fast. The economic pages of the US papers are saying one option is to nationalise it, in which case it will try to offload it's satellites like Cabot and 1st Credit. The figures for 1st Credit were interesting - £8 billion of assets and £150 million in revenue. An asset is only of any value once you liquidate it and they are clearly not doing that, carrying £8 billion of debt they have not/cannot collect. No surprises if they go to the wall - no one is going to buy £8 billion of uncollected debt in the current climate.

[ODC]

Please oh please let Worst Credit go to the wall. Im sure fuzzy would give Uncle Bob a starring role in one of his video materpieces

[fuzzybobble]

,CITIGROUPS SHARE PRICE

 

 

[fuzzybobble]

Maybe they'll set fire to the place and claim on the insurance.

 

[sosumi]

:lol:

[sosumi]

... I'm only laughing at Fuzzybobble, not the parlous state of Citigroup and the possible (fingers crossed) demise of certain DCAs. (cough)

[fuzzybobble]

Please oh please let Worst Credit go to the wall. Im sure fuzzy would give Uncle Bob a starring role in one of his video materpieces

 

You can read my mind. Uncle Bob from worst credit is about to star in my re-edited version of Judge Judy. Oh, and Uncle Bob's mum is in it too.

[fuzzybobble]

Uncle Bob and worst credit also appear in this little video I made recently....

 

The first ever debt collection agency's truthful promotional video