How do I deal with Cabot?

[GolfCaddie]

Any advice would be greatly appreciated.

 

I am been chased by cabot for two debts, either over the phone ( up to 5 times a day (I never answer)) and by letter which I ignore.

 

Both debts are credit card debts. about £1100 and £2200. Both cards were with the Bank of Scotland.

 

I live in Scotland and thats where the debt occured ( that seems to have some legal brearing).

 

I checked my Experian credit refrences from previous years and both cards were listed as Defaulted on Feb 2001.

 

Recent experian searches show that the debts are no longer on my credit file and I dont seem to have any CCJ's listed against me.

 

Over the years I have had Robinson,way FIRE and Scotcall sending my letters ( all of which were ignored). also had Hodgsons solicitors send me two letters in June 2005. ( ignored that)

 

I got a letter of assignment from Bank of Scotland in Nov 2004 to Kingshill.

 

Got another letter in March 2007 saying that Cabot Financial group had purchased the debt.

 

Recently Cabot have increased the amount of times they are phoning me and leaving messages on answer machine ( I still dont answer phone to them.)

 

I was wondering if anyone can tell me how to deal with Cabot?

 

What relistically can Cabot do to me?

 

What is statute barred? and does that apply to me?

 

And finally what should my next step be?

 

thanx in advance

 

G

[Bigmac versus]

Statute barred debt is when a debt has aged by 6 years without any payments or agreements made by the debtor.

Nothing to worry about just these DCA's you have mentioned like to buy debts like these very cheaply and try their arm, know what to tell them now do you?

[rory32]

I live in Scotland and thats where the debt occured

In which case it's 5 years for statute barred debts. Statute barred means that no action can be taken to enforce a debt. They can ask you for payment but if you say no that's the end of the matter.

[rory32]

You can use the template letter here if you want Creditors and DCAs - Letter Templates & Budget Planner template M. You need to tweak it slightly as it's written for English Law.

 

Just substitute 5 years for 6 years and instead of the Limitation Act 1980 Section 5 put The Prescription and Limitation (Scotland) Act 1973 Part 1 Section 6. You may also wish to include the follow from the Act:

 

"If after an appropriate date, an obligation (an appropriate debt) has subsided for a continuous period of 5 years:

 

(a) without any relevant claim having been made in relation to the obligation, and

(b) without the subsistence of the obligation having been relevantly acknowledged;

 

then as from the expiration of that period the obligation will be extinguished..."

 

Send it recorded delivery and print don't sign your name.

[Bigmac versus]

Missed that one Rory quite correct 5 years here in Scotland.