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I am wanting some advice on where i stand with interest charges on a debt owing to cabot Financial.

I had a barclycard back in 2002, i fell pregnant and my partner at the time left me and i became homeless. I struggled to pay the barclycard and other debts and ended up having this account passed on to credit solutions. This debt then was £1804, they then passed this debt onto cabot. I went to the citizens advice centre and made an arrangement to pay £0.99 a month with the interest frozen on the account.

I continued to pay this amount untill i moved into a new address, i wrote to all three of my creditors to tell them my new address. Two replied but cabot did not. Once i had moved to my new address i somehow lost the contact details for cabot, my bank account had been closed and i could not contact them to arrange continuation of payments.

I recieved a letter from them after 2 and a half years saying i owe them £2487.12.

I made an arrangement to pay them £25 a month as i am still a single parent on a low income. I recently went on their online site to check my account, i was shocked to see i now owe them more by paying more.

I now owe them £2645.87 due to interest they have added to the account. The interest added was for £718.00 and £183.00.

They never told me that i would now be paying interest or the rate, just simply that i was paying more to get my account paid off quicker.

I was wondering if they are able to charge this amount of interest with out me knowing, as this has added almost £1000 to my account.

Any help is much appreciated.

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Hi first you need to send them a CCA request, template letters are on here,

This puts the account in dispute and while in dispute they cannot continue with charges/ interest.

A few questions, have your ever received a default notice, have you ever received anything from barclaycard saying they the account has been assigned to cabot.

 

Don't worry there are many people on here who will help you with this, you are not alone

Regards CCM

Please note i have no legal training any advice i give comes from my own experience and from what i have learned on this site

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I lost alot of paperwork during my move back in 2002, I did recieve a default notice from barclaycard. I cant recall them sending a letter to say the debt had been passed on. I recieved a letter from a company called Mercers Debt Collections, i was paying them £28.03 a month for 10 months, this debt was passed on during this time to a company called credit solutions in July 2003, then to David A Rubie & Company in October 2003. The debt was then passed on to cabot in 2005, it has been passed around so many times im losing track of who i have paid what to!?!

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In view of the above i think the easiest way forward here is to send an SAR request to Barclaycard, It will cost you a £10 PO to do it, but it will give you the complete picture from start to finish(if they comply with it, not guaranteed), LOL.

When you get a reply come back here and we go from there.

Cheers CCM

Please note i have no legal training any advice i give comes from my own experience and from what i have learned on this site

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I recently went on their online site to check my account, i was shocked to see i now owe them more by paying more.

 

In view of the above i think they will still hold youre info LoL

Please note i have no legal training any advice i give comes from my own experience and from what i have learned on this site

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As creditcard mug has said request a copy of your Consumer Credit Agreement....without it they can NOT enforce the debt (let alone it containing the prescribed terms).....send letter 'N' from here... http://www.consumeractiongroup.co.uk/forum/general-debt-issues/20758-creditors-dcas-letter-templates.html - you need to send it with a £1 postal order, send it by RECORDED DELIVERY - and in big writing at the top of the letter put - I DO NOT ACKNOWLEDGE ANY DEBT TO YOUR COMPANY - and do not hand sign the letter....they have to produce it within 12+2 working days or they are in default of your request, if after a further 30 calendar days they still haven't produced it they have committed an offence under the Consumer Credit Act 1974 (it is at this stage that you can stop paying them (the ethics are up to you of course)... If you need convincing as to why the Consumer Credit Agreement is relevant take a look here... http://www.consumeractiongroup.co.uk/forum/debt-collection-industry/133653-consumer-credit-agreements-letter.html?highlight=gareth

 

You can dispute a debt at any stage !!! especially now you know your rights....

PLEASE NOTE - I am not a legal expert, what is stated is my own opinion and from what I have learnt from this forum and my own experiences.

 

DEBT COLLECTION LETTER/SAR/AGREEMENT TEMPLATES ARE HERE - http://www.consumeractiongroup.co.uk/forum/content.php?65-legislation

 

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