Advice on dealing with Cabot

[steve777]

Just had a letter from Cabot saying they are collecting on an old barclaycard account. Have read through old posts & would appreciate some advice on what to do next.

 

The barclaycard account was originally opened in 1998, I missed some payments & the account got passed to another debt collection company (can't remember which) At some point I stopped paying them back on the basis that I had already paid back several times the ammount I borrowed & just couldn't see an end to it. I realise this was wrong but seemed like I'd never get rid of debt.

 

Anyway not sure when I stopped getting letters about it - may have been in 2001 or 2002.

 

So now Cabot have written to me - here's what i'd like to know.

 

If I can check that its been 6 years since I last heard about the debt does that mean they can no longer collect on it?

 

The balance is £380, I'm sure if I go down the route of asking them for orginial credit agreement they won't be able to produce it. However is it worth doing this for such a low balance?

 

What would be a reasonable ammount to offer for full & final settlement?

 

If I pay back by monthy installments are they allowed to charge interest? given that account would have had solictors letters etc.

 

Thanks for reading all this & all input appreciated.

 

Regards,

 

Steve.

[Seahorse]

If all that the amount is for is £380, and bearing in mind that you have very likely paid way over that already in unfair penalties and charges (which you'd be hard pushed to cliam back, as it was over 6 years ago), I'd be tempted to say why should you pay them any more?

 

The only way to be sure, is to SAR Barclaycard. If you haven't paid anything or acknowledged the debt in writing for over 6 years, I wouldn't even bother giving Cabot the time of day. If they insist on trying to collect on a statute barred debt, they'll probably involve Ruthbridge who will likely threaten you with all sorts.

 

If anybody starts giving you grief, invoke their complaints procedure, and after they fail to behave, complain to the FOS after the appropriate period of time. Might as well hit them with a £400 fine if they start playing silly beggars.

 

You will probably find Barclaycard only manage to find statements and nothing else, relating to the past 6 years. So you'll very likely be unable to see how much you are owed in penalties and interest. But by the same token, there probably won't be any agreement, or any evidence to show that the figures in the statement are accurate. I have a complaint in with Barclaycard at the moment about that very thing. Especially as they managed to send a copy of my original application form to Cabot, but didn't aparently have one to send to me. Curious.

[steve777]

Thanks Seahorse - I take it doing a S.A.R - (Subject Access Request) doesn't mean I am acknowledging the debt in any way? I'm thinking it may just be on the wrong side of 6 years but as you say, won't know till I find out.

 

I am loath to give cabot any money especially when I've read some of the stuff about them here. Don't really mind being threatened either.

 

So will SAR barclaycard - In the meantime should I ask Cabot to provide copy of CCA or should I just hold tight till I get info from barclaycard?

 

Thanks.

[rh999]

Hi Steve

 

i have similar situation with cabot and HSBC.

 

SAR to barclaycard

CCA to cabot - this will keep them off your back while you get info from barclaycard. i am assuming that barclaycard have sold the debt onto cabot, so your SAR will highlight this.

 

also check your credit file - a month after cabot purchased my "debt" they placed a default onto my credit file.

 

if they have placed a default on you, then it means tackling cabot.

[Seahorse]

Acknowledging a debt means you'd have to make a payment, or admit in writing that you owe anything. SARing Barclaycard won't do, and neither will CCAing Cabot. Just to be on the safe side though, make sure you put in big, bold letters "I DO NOT ACKNOWLEDGE ANY DEBT WHATSOEVER."

 

You can't make it any plainer than that.

[steve777]

Thanks guys - will send out letters etc & let you know how I get on.

[helpmenow]

My boyfriend has recieved a letter today from Cabot Financial saying that they are coming too our home. He rang them and they informed him that he owed £2300 on a credit card account from 2001. They said they had been charging him 96p interest from the date he defaulted in 2002 which is also when they had taken over the debt. He was under the impression that his ex partner had settled the account in 2001 and we have heard nothing about this until today. We are very worried as an old credit report states that the orginal balance was £1200 and the debt is only in his name. Can anyone offer any advice as to whether we have to pay the full amount or whether we can take this further.

[Seahorse]

You COULD just offer them £1200. IF you can afford it. And IF you think Cabot have a right to even that amount.

 

Alternatively, you could ask him to chase up the original creditor to find out what exactly the debt was made up of. Unlawful penalties and charges for instance? Would such a thing mean the debt was actually a lot less than first stated, or even non existant?

 

I'd also advise sending a request to Cabot for a copy of the original agreement. No agreement means he's in a very strong bargaining position and can tell Cabot to either accept a fairer amount, or go play with the traffic.

 

Start a thread of your own, and if you need help with letters, just ask.

 

Oh, and the chances of Cabot popping round for tea and cake is pretty minimal. I don't think I've heard of one instance where it's actually happened.

 

DON'T phone them, and if they phone, tell them to communicate ONLY in writing. To be fair to them, they usually do comply with that demand.

[NailPost]

And if they do find someone stupid enought to agree to call round and have a chat you don't have to let them in, you don't have to discuss anything with them and you are perfectly entitled to tell them to go away. If they don't and start loitering about call the police. Tell the cops a man (or woman) is behaving suspiciously around your house and has refused to go away when told to. You want an officer sent round to prevent a possible breach of the peace.

[helpmenow]

Thankyou for your help I have started a thread,now that I have figured out how to do it!