Complaints Against Cabot Financial
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What To Do If You Get A Nasty Letter or Phone Call From:
Cabot Financial
Cabot Financial is a debt purchasing company or debt collecting company listed in the website of the DBSG (The Debt Buyers and Sellers Group) and/or mentioned in consumer finance forms. They have a legitimate function as debt collections, but there is some indication that some such companies (not necessarily Cabot Financial), and especially the debt purchasing element, go a bit too far sometimes and can make people's lives a misery when those same people are at their most vulnerable. We do not suggest that they are acting outside the law, but getting that letter or phone call is not exactly helpful to you right now.
So the first thing you must do if Cabot Financial is bothering you is not to panic or despair. That's just what they want! They'd love you to call their number and speak to their specially trained sales team for 'advice'. But once you do that you'll be suggestible to whatever they tell you, instead of getting independent advice. While we always say that you should keep an open dialogue with debt collectors, we would recommend that you do so in writing only. This will prevent them 'railroading' you into any action which is not in your best interests, as they so love talking people into doing things on the spur of the moment. Of course, they are only doing their job, but that's hardly a consolation for you in the present situation.
There are several courses that are open to you, and some will suit your own situation better than others. You could use one of these, or even all of them if they are appropriate to your own circumstances.
But first of all, a warning: we DON'T recommend taking out a so-called 'consolidation loan', or at least think carefully if you are offered one. These are fine in some cases, and they look quite rosy in the short term, but they can easily get you in more difficulty than before; after all, this is more debt. Where would you be with this a few years down the line?
Nor do we recommend payday loans, which are generally prohibitively expensive; take out a payday loan and you may be hearing from Cabot Financial more than you are at present! We cannot recommend this type of loan.
A more sensible option, we would suggest, is a debt management plan or even an IVA - which is designed to actually write off a large chunk of your unsecured debt. But you would need to take advice on this and look at your income and expenditure in detail. This option won't suit everyone. There's more on this below.
For a longer term loan you could apply for a 'logbook loan' which many people find a very handy option. It is actually a loan secured on your car, except you get to keep the car and keep the cash as well! That's why some people find it such a good idea, as it unlocks the equity in your vehicle without taking away your means of transport (there's no need to sell the car). To apply for a logbook loan click here.
Yet another option is a no credit-check guarantor loan. This is especially useful because your own credit rating is not looked at; you must find someone else willing to act as a guarantor for you such as a friend or family member. This is an ideal solution if you're at the stage where your credit profile has been downgraded by recent events, etc. So click the following link for Unsecured Loans that don't need you to be credit checked.
If you wanted to try a debt management plan, then we provide a whole-of-market service, with a number of debt management experts on our panel. So whatever your circumstances, your application will find the plan for you, meaning the optimum outcome for your situation. It also means there are no minimum requirements for debt levels or income.
NOTE: If you have at least two accounts in debt, and total debts of £2,000 or more, enter your details below to see if you qualify. (But if you owe less than this, or are on state benefits, then use this link to apply instead.)
DPC Registry. Consumer Credit Licence number 633327.
Name: Cabot Financial
Also Known As: Cabot Financial (Europe) Ltd, Cabot Debt Collectors.
Address: 1 Kings Hill Avenue, Kings Hill, West Malling, Kent ME19 4UA
Telephone: 01732 524 705 (but do NOT phone Cabot Financial).
Fax: 01732 522374
Email: [user] @cabotfinancial.com
Extra Data: See below.
Get a free QuickCreditScore check by applying here.
Cabot Financial and the Truth About Your Debt
Cabot Financial Ltd is a debt purchasing company which has bought your debt from the original lender, often a bank (or in some cases another debt purchasing company) for about a tenth or less of the original value and is trying to get the full value from you.
Cabot Financial Limited will use all sorts of nasty methods to get you to set up a direct debit or standing order so that they can profit from your misery. You may have already experienced bad and terrifying experiences of them. They may phone you when they know it is inconvenient or even embarrassing for you and on an unacceptably numerous number of occasions. They may write official appearing sternly drafted letters or cards threatening that they will come round to collect the amount in full or that they will take you to court. Other tactics may involve saying that they will make a charging order on your property or in some way bring about your destitution.
So ask Cabot Financial for a copy of the original contract when you took out your loan or credit card.
More Data On Cabot Financial
According to feedback in the various consumer forums Cabot Financial are very aggressive with harassing people by telephone, or at least they were. There are signs that they have quietened down a bit but around 2006 to 2008 they were actively using the telephone as a weapon of grievance against people, even while writing to them and saying that they would not phone them. It seems that they have also threatened to use the telephone even when they know it is illegal to harrass using the telephone. It's a Police matter when things get this far, really. I'm always surprised how these people constantly expect to get away with it, as if the law does not apply to them.
If you have any information that you would like honest people to know about Cabot Financial then send us an email in complete confidence and we will try to corroborate it with the clowns involved.
Please be aware that figures entered into the Cabot Financial site (above) need to be accurate by law, and to give the best service to you. It is extremely important that you budget for all necessary expenditure including rent or mortgage, council tax and utility bills, etc., and any other necessary outgoings related to the upkeep of your household and in relation to any specific circumstances which may apply to you or your household. This website only collects data on behalf of debt management professionals, from which it will receive affiliate remuneration for data collection only and does not itself engage in any debt management services. Other debt management options are available and may be more suitable. People entering into an IVA or debt management will have this entered on their credit profile and this may affect their ability to get credit in the short term or even in the long term in some cases. It is free to apply from this website; you will be given advice by debt management professionals and a 'cooling off' period, by law, to decide whether or not the debt management plan is suitable for you, and you should be aware that a fee will be chargeable upon a successful arrangement, as with any commercial transaction. Failure to meet the repayments on an IVA or any debt management programme may result in serious consequences, including, but not limited to, bankruptcy. Bankruptcies, CCJs and similar defaults will be entered into a public register and will remain there for a statutory period of not less than six (6) years.
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Take a look at the Insolvency Service's leaflet called 'In Debt', downloadable here.
This Cabot Financial website is part of DPC Registry website group. All rights reserved. Complaints Against Cabot Financial debt collections agency.
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