Bank of scotland/ cabot

[foxy2]

HI All

July had letter from cabot my debt with Bos was purchased by cabot 11th July. Sent letter to cabot asking for original application forms etc. 19th oct reply from cabot saying investigateing query may take 8 weeks!!!!.

Up shot is letter today from cabot.

 

Dear Mr ....

 

Further to your previous communications regarding the above credit agreement.

 

You recently requested a copy of the original application form for the above account. Our collection procedures were subseqently suspended and we requested a copy of the application form from HBOS.

 

Unfortunately due to age of the account HBOS have been unable to provide a copy of the application form therfore, as we are now unable to provide it, the account has been reassigned to them.

 

You will not bee contacted again by cabot any further queries should be directed to HBOS.

 

I am lost what should be my next move be ?.

[gemspan]

Hi there

 

Look for threads concerning Consumer Credit Act. I have read recently that if the bank cannot produce the original application then the debt is not owing to them. Could you let me know when you took the loan out please? I have a Scotloan with BOS and was going to ask them for a copy of the original documentation. This loan was taken out in 2002.

 

Look forward to hearing from you.

 

Thanks

Annie

[foxy2]

Hi Annie

 

Debt was for overdraft in 03, had a scot loan 01, bank have not provided a copy of that loan doc. and have not chased me for payment for it as yet has now been six mths.

[Seahorse]

HI All

July had letter from cabot my debt with Bos was purchased by cabot 11th July. Sent letter to cabot asking for original application forms etc. 19th oct reply from cabot saying investigateing query may take 8 weeks!!!!.

Up shot is letter today from cabot.

 

Dear Mr ....

 

Further to your previous communications regarding the above credit agreement.

 

You recently requested a copy of the original application form for the above account. Our collection procedures were subseqently suspended and we requested a copy of the application form from HBOS.

 

Unfortunately due to age of the account HBOS have been unable to provide a copy of the application form therfore, as we are now unable to provide it, the account has been reassigned to them.

 

You will not bee contacted again by cabot any further queries should be directed to HBOS.

 

I am lost what should be my next move be ?.

 

I'm a little confused as to haw Cabot can "buy" a debt, then if they seemingly look like being unable to collect on that debt, then "reassign" the debt back to, in this case, HBOS. Surely if they buy a debt, it's then their debt entirely? Or am I missing something?

 

Seahorse

[gemspan]

Maybe they sold it back to HBOS!!!!!! because it was faulty!!!! I suppose if they bought the debt and then the debt cannot be recovered then they havent bought what they thought they had so consequently it goes back and they get their money back.

 

Gemspan

[foxy2]

Thats if HBOS gives them the money back!!!! Be nice if they said sorry you should have checked the paperwork before buying the debt. ive had no word as yet from HBOS!!!