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  1. Here's a thought, now call me crazy but why dont you for a change just pay your debts!! instead of trying to find way of stalling and getting out of paying them. After all you have got the credit and spent it, you wouldnt borrow money of a freind then not pay them back but still expect them to be nice to you and still be your friends would you?? ...... no didnt think so, so why dont you have a think next time before you try and steal more money from the goverment!!
  2. p.s. i have learnt the hard way and dont wish for people to go through the same I hope i have helped a little
  3. Just to let you know that if the original vendor is at fault, then it will take time to get the info you want as the vendor wont give up easily, they will stall adn use tactics to try and cover their backs. It's not Cabot's Fault, its the vendor's. Also, when you sign the original credit agreement, you do agree to the terms and conditions which includes the account to be sold to a debt collection company to collect it, where they can add interest and charges if payments are not recieved regulary. & that interest would be frozen. 5 days later received arrears notice & the default received dec 07 which i ignored as was told to. started to get monthly statements incl interest that they HADN'T frozen. If u phoned them to query this they would have told you that the interest is frozen but the letters are sent automatically with the accrued interest on top of the balance. It is true that they freeze interest when making payments every month. Once you have agreed a monthly payment plan they review it in 6 months to see if you can increse, if you cant they are fine with that and will stick to what you can afford, the minimum they will accept per month is £1. If you do decide to change you telephone number, i can tell you from experience that they will get your new number. I have been advised before they have a tracing department, where they can find new numbers and address if you change them. Also, another thing, once the investigation is over they again can start applying interest and you wil have to pay them. You cant use stalling tactics forever. Its best to not bury your head in sand as it will only get worse the longer you leave it.
  4. Hi everyone, Cabot Financial are a Debt Collection Company. They dont register defaults as that is upto the original vendor to do, once the account is defaulted the vendor can legally sell the debt to a debt collection company to collect the outstanding balance. Most debt collection companies stick to the oringal credit agreement with regards to interest and charges being applies unless the vendor states not too. Interest is frozen if regular payments are being recieved until the account is clear. Sometimes, when accounts are paid in full prior to Cabot purchasing it, its the original vendors fault for not updating a person's credit report and their fault for selling it too Cabot. This is easily fixed by stating this to Cabot who then investigate the account and going back to the original vendor. The original vendor is the one that has to supply a person with a default notice not the debt colleciton company. Also, it is the vendor that has to send you a Paid In Full letter (PIF) if you cleared it. If you dont recieve this then you have to request it from the vendor, otherwise the vendor can be very sneaky and sell the debt on, again the vendors fault. Sometimes when you are given a discounted settlement figure and they dont send you this letter, then sometimes the vendor sells the remaining balance to a debt collection company without telling the the previous history on the account. When making complaints to Cabot, sometimes it does take time espcially when the vendor is at fault, as the vendor will try and stall to cover their backs. i hope this helps
  5. HI there, Kings Hill No1 and Cabot Financial are the same company, Kings Hill No 1 is there address. They can legally add charges to the accounts, they are interest charges. If you are not paying then interest will be applied. It is in the small print on the original credit agreement that you signed. It says that once you default (which the original vendor does when you stop paying) that they can pass the debt to debt collections companies. The debt collection companies normally have to stick to the original credit agreement with regards to interest unless the original vendor says otherwise. I do believe that once you start paying and continue to make regular payments that the interest is frozen for you but watch out because if you stop paying them they can apply accured interest to the accounts. If the balances are small they will not take you to court it will more then likely more to an external agent (like a doorstep collector) but i think if the balances total over a certain amount i.e. £4000 then they may take you to court depending on what assets you have. I hope this helps
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