Hi,

This is my first post, so hello to all! after a difficult divorce I'm experiencing serious financial difficulties and having got into alot of debt im really struggling and seeking advice.

Today I received a letter from Cahot which on the surface it appears friendly but I'm not that daft, I'm just looking for advice on my first move.(before I make a huge mistake)

It's a debt for nearly £7000 on an egg credit card, they have obviously bought the debt.

They have written saying they have bought the debt and are responsible for helping me manage the account and receiving future payments.

The last payment I made was through an IVA (that failed when I went through divorce) 29th January 2015.

I'd be grateful of any advice on what my first move should be!

Many thanks in advance!

Cabot do not enforce legit debts.

If it's egg then it's likely there's no cca and it's full of charges.

Otherwise egg would have took action themselves

full history please

when did you take it out

is this on your credit file?

Many thanks for the response so far, I can't find this on my credit file?

The last payment must have been through the Iva in 2014,

Sorry to be vague I will check the start of the Iva date etc and get back to you.

Thanks

Again

Sorry to be stupid but when you say full history what do you require?

I've just arrived home and the second letter has now landed asking me to call them and discuss a payment plan or come to a reduced payment of the outstanding balance, I take it they are just fishing???

Many thanks

When did you take the card out?

Are all your old addresses showing on credit file?

Hi,

All addresses are shown on my file this debt isn't? Experian.

The card was taken out over 10 years ago but as I say I did make a payment to them through an Iva, last payment in 2014 I think?

Its prob been defaulted years ago and has now dropped off

Defaulted debt can only show for 6yrs

If they keep threatening CCA request time me thing

Dx100uk

Thank you so much for your advice so far!

Much appreciated!

I will try the CCA approach.

My head is spinning with all the debt I'm currently trying to sort out, I'm so happy I found this forum.

Thank you

Anything else we can help with here?

You say all the debt?

Yes there certainly will be this weekend I'm speaking with stepchange and trying to get everything together,

my Iva failed in January 2015 and I've managed to keeps all at bay since then, but it's all coming to a head!

Just as I'm trying to get on with my new family after divorce trying to start a new beginning with my little girl, on top of the debt I have a mortgage shortfall of £70,000 (shared with my ex wife) who is currently ignoring the mortgage company.

Worrying times ahead!

But hopefully now with the helpful advice I can see on here I can battle through this.

Thanks

Again

Hi,

Having spent a months compiling a full list of my debts and speaking with stepchange,

I have been in two minds as what to do as I see no way out of this mess,

on top of that they advised I contacted two creditors acknowledging my debt and agreeing £1 a month payment!!!

I think now I've made a big mistake with these!!!??

I've just got so confused as what to do and what is right,

Stepchange appear very helpfully and over the last month or so have been helpful but not sure what they are advising is correct?

Now I have compiled my list I intend to start CCA request route with all of them other than the mortgage company and take it from there!

I wish I'd taken more time to view this site!

My question is

can I keep this thread and hope for help/advice on the responses I get or is there another method of asking for help?

To date Cabot have sent 7 very nice letters telling me they REaLLY want to help and can I call them, obviously they will be the first to receive a CCA.

Many thanks in advance.

we await your updates.

dx

Thank you so much!

Hi,

Just before I send my letters,

two of my DCAs one which is Fredrickson International,

Stephange asked me to send a letter acknowledging the debt and offering £1 a month which I have started paying (big mistake) is it possible to still forward a CCA or have I got a problem now with these?

Again they do not appear on my credit reference file (which I have all previous addresses on) or do I need to approach these differently?

Also should I be sending price it letters or go struggle to the CCA.

Many thanks

Hi,

This is the letter I sent to two of the DCA's

The more I look at this I can't believe Stepchange thought this was the right way to go!

Dear Sir/Madam,

In acknowledge my of debt with you.

I have received advice from StepChange Debt Charity to help solve my debt problem.

I am currently renting and have no assets after my recent divorce which as a result I am in financial difficulties at the moment and not able to meet my normal monthly payments. I will make a monthly payment of whatever I can afford until more money is available.

I can provide a monthly budget and a list of creditors if you request. After paying my household bills, I can pay you £1 I will pay this each month and tell you when my circumstances change.

I will continue working with StepChange Debt Charity to improve my circumstances and find a more permanent solution to repay my debt. In the meantime, please consider reducing or stopping interest or any other charges on my account to help me during my financial difficulties.

I would appreciate acknowledgment of receipt of this email asap.

Yours faithfully

Feel a bit sick now!!!

Stop any payments and get the cca off. Let us know how it goes. Cabot rarely ever enforce legit debts and egg debts are usually unenforceable

Thanks, renegadeimp preparing all letters and sending them tomorrow, will post updates as and when received. So it's better to proceed straight to CCA rather than prove it letter?

Yep. Cca is a legal request which forces them to put up or shut up. Prove it letter will start letter tennis.

It's very likely statute barred anyway.

Cabot tried to chase me for an egg debthe 2 months ago.

For a card that was taken out in 2004 and had one paymentry made

Thanks great, thanks again for your help, with post my updates.

Going g just by cabots reply that you posted, the debt is junk. But no reason why you can't play with the. Especially when they're known to try court action if they think they can get a default judgement

That makes sense,

I've had 7 letters all appear to be fishing, nice tone NO threats just to say they are there to help offering me to pay in full,

an agreed monthly repayment or discount on my account!!!

Can see how many fall for this I nearly did lol

Thanks again

don't waste postage either

2nd class with free proof of posting is ok.

dx

That makes sense, I've had 7 letters all appear to be fishing, nice tone NO threats just to say they are there to help offering me to pay in full, an agreed monthly repayment or discount on my account!!! Can see how many fall for this I nearly did lol

Thanks again

Haha 100% lemon debt then. You can either cca or just ignore them totally.

Thanks will do!

don't waste postage either

2nd class with free proof of posting is ok.

 

 

dx

Thanks