I received a letter from Cabot Finance in April stating that they have recently bought an account I held with Ikano Retail Finance (who I have never herd of and to my knowledge have not held an account with them) and that I have an outstanding balance of £159.01. I contacted Cabot Finance by email and stating that I completed an IVA in 2012 and have my certificate of completion and have not had any debts since, and could they provide me with more details regarding this. I received an email asking me to confirm that this was my email address, which I did, and then herd nothing further until the end of June when I received a letter setting out a payment plan. They have not answered any of the questions I asked them. Any debts I have had were covered by an IVA which ran for 5 years and completed in February 2012. I would like to give Cabot Finance a call to sort this out, but would like to know where I stand. If this is a debt that was included in my IVA am I still liable for it?
What a nuisance!! Send Cabot a copy of your completion (via recorded delivery) stating that they were included.
Also speak to your original IVA company.
If it was included then you are not liable for it.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Ikano are behind a lot of store card including the Ikea card.
If you previously had a store card prior to the IVA - you make find Cabot have bought the old account.
If it was in the IVA - then this will be covered under those terms
Cabot are a notorious bad debt purchaser who stop at nothing to recover debts they`ve purchased.
A quick internet search on them shows that they are completely unethical, breaking all regulations and laws repeatedly, chasing statute barred debts, etc.. even in many cases chasing people for debts that are not even theirs, basically it appears they stop at nothing to get money back on debts they have purchased.
One of their `tactics` appears to be to supply little or no information on a debt they are chasing someone for when the alleged debtor requests it...because no proof of liability actually exists.
If you think the debt they are chasing you for is not yours, then there could be a good chance it isn`t judging by the information that exists on the internet about them.
"When the seagulls follow the trawler, it is because they think sardines will be thrown into the sea".
Thank you for your letter dated xx/xxxx/2015. As the letter contains a threat of litigation, it is being treated as a formal letter before action. As such, I refer you to paragraph 3 of the Practice Direction Pre-Action Conduct, which states: “before commencing proceedings, the court will expect the parties to have exchanged sufficient information to (a) understand each other’s position; (b) make decisions about how to proceed;”Paragraph 6 states “the parties should exchange correspondence and information to comply with the objectives“ and Paragraph 6 (c) of refers to “the parties disclosing key documents relevant to the issues in dispute.” My request refers to the documents I require to obtain the necessary information to assess my position in this case.
I require copies of the following:
The original credit agreement;
The Default Notice
The Notice of Assignment;
Statements of account;
These documents would be expected to be supplied if proceedings were issued and would likely be in your possession if you were issuing a claim. If you consider that there is difficulty in providing a copy of a document, please identify that document and the reason. Additionally, there is a duty to supply documents under the Consumer Credit Act 1974. A request has been made under s.78 on xx/xxxx/2015 and I am awaiting a response.
I shall be able to provide you with a full response to your letter within 14 days of receipt of the documents listed above and also reserve the right to refer to the contents of this letter if proceedings are issued without first providing copy documents to me.
Yours faithfully,
IVA started March 2011, Completed March 2016 and certificate issued 11 days after final payment. It was not always easy but then some of the best decisions aren't.
You may also want to check your credit report and see whether this purported debt is showing on there (and get it removed if it relates to the IVA liabilities).
IVA started March 2011, Completed March 2016 and certificate issued 11 days after final payment. It was not always easy but then some of the best decisions aren't.
Hi to everyone who has replied, thank you all so much for your advice. I am going to send Cabot a letter (thank you for the brilliantly worded template #128522;) and see what happens from there.
