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Help with Cabot debts .. please


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Hello. This is my first post so please be patient.

I currently have two debts with Cabot Financial, one for a Morgan Stanley credit card and one for a Halifax credit card. Both debts are registered at a previous address of mine. At the beginning Cabot were pestering my parents/grandmother (different address from myself) with repeated phone calls. The debts are both in my name even though I accumulated them jointly with my ex-wife. We have since signed a legal form saying there were no outstanding debts (after the divorce completed) and that any debts after this were our own responsibility.

Morgan Stanley

Original balance £2199.71. Paid to date £286.14 (through CCCS)

Last payment (I can tell) 26/09/2001 then 12/07/07 (£1 token payment)

Purchased by Cabot 27th May 2004, balance £2199.71

1st contact (from Cabot) 23/05/07 (written)

1st contact (from me) 10/07/07 offering £1

I applied for a copy of the credit agreement and statement of account on 26th Nov 2007 (to both Cabot and Morgan Stanley). Receive no reply from the Morgan Stanley). After Cabot stated they were not the original lender and so they had no obligation to comply I eventually received a copy of the credit application (one sheet with my signature on it) and statements (Sep 2000-Sep 2001). These state that the last payment was 26/09/2001. I am currently paying this debt through the CCCS.

Was offered (after asking for) a full and final payment in November 2007 of £1900 then £1650 but could not afford either amount.

Halifax

Original balance £2192.04. With interest £3356.64. Paid to date £74.82 (through CCCS)

Last payment (I can tell) 02/05/2002 then 25/05/2008

Purchased by Cabot 30/10/2003, balance £2192.04

1st contact (from Cabot) 07/01/2008 (written)

1st contact (from me) 26/11/2007 (not acknowledge debt). First acknowledgement of debt on 25/05/2008

I applied for a copy of the credit agreement and statement of account on 26th Nov 2007 (to both Cabot and Halifax). Receive no reply from the Halifax. I eventually received a copy of the credit application (one sheet with my signature on it) and statements (Nov 2001 – May 2002). These state that the last payment was 02/05/2002. I am currently paying this debt through the CCCS.

Cabot have since removed interest (£1164.60) on the condition that I keep up my repayments.

Is there any possibility either account could be statute barred?

Full and final on both accounts

In the past few weeks I have tried to obtain a full and final offer for both accounts (combined). I offered Cabot (£1432) however this was turned down. Later I offered £2037 to be turned down again. They are stating they need a figure of £2900. Combined debt now is £4048.79. This is £1148.79 less.

If there is a possibility that one of these debts could be statute barred then I am prepared to try this however if I do try this I am worried that they may withdraw all offers altogether.

Please could you give me some advice as to what is my best choice of action.

Many thanks – stevejv

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If anyone has had any experience dealing with Cabot I would appreciate your help.

 

if anyone has any help with full and final offers

 

 

if anyone has any help with statute barred debts

 

 

I would appreciate ALL help you can offer

 

Many thanks

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As it stands I think I have three choices

 

1. To claim that the debts are statute barred. The Halifax one might just be.

 

2. To write to Cabot, explaining my circumstances and see if they will accept a lower offer

 

3. To see if Cabot will accept a lower offer, say £2400

 

Normally I wouldnt use a forum to discuss financial stuff but I thought/hoped I would get some response.

 

Please help

 

Cheers - Steve

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Hello. This is my first post so please be patient.

 

I currently have two debts with Cabot Financial, one for a Morgan Stanley credit card and one for a Halifax credit card. Both debts are registered at a previous address of mine. At the beginning Cabot were pestering my parents/grandmother (different address from myself) with repeated phone calls. The debts are both in my name even though I accumulated them jointly with my ex-wife. We have since signed a legal form saying there were no outstanding debts (after the divorce completed) and that any debts after this were our own responsibility.

 

Morgan Stanley

 

Original balance £2199.71. Paid to date £286.14 (through CCCS)

Last payment (I can tell) 26/09/2001 then 12/07/07 (£1 token payment)

Purchased by Cabot 27th May 2004, balance £2199.71

1st contact (from Cabot) 23/05/07 (written)

1st contact (from me) 10/07/07 offering £1

Because you made that 1 payment this is no longer stat barred

 

I applied for a copy of the credit agreement and statement of account on 26th Nov 2007 (to both Cabot and Morgan Stanley). Receive no reply from the Morgan Stanley). After Cabot stated they were not the original lender and so they had no obligation to comply I eventually received a copy of the credit application post it up for the experts to judge whether it is a valid agreement (one sheet with my signature on it) and statements (Sep 2000-Sep 2001). too late now to reclaim any charges These state that the last payment was 26/09/2001.

I am currently paying this debt through the CCCS.

Was offered (after asking for) a full and final payment in November 2007 of £1900 then £1650 but could not afford either amount.

 

Halifax

Original balance £2192.04. With interest £3356.64. Paid to date £74.82 (through CCCS)

Last payment (I can tell) 02/05/2002 then 25/05/2008

Purchased by Cabot 30/10/2003, balance £2192.04

1st contact (from Cabot) 07/01/2008 (written)

1st contact (from me) 26/11/2007 (not acknowledge debt). First acknowledgement of debt on 25/05/2008

 

I applied for a copy of the credit agreement and statement of account on 26th Nov 2007 (to both Cabot and Halifax). Receive no reply from the Halifax. I eventually received a copy of the credit application as above post it on here (one sheet with my signature on it) and statements (Nov 2001 – May 2002). These state that the last payment was 02/05/2002. I am currently paying this debt through the CCCS.

Cabot have since removed interest (£1164.60) on the condition that I keep up my repayments.

 

Is there any possibility either account could be statute barred? No you have made token payments

 

 

Full and final on both accounts

In the past few weeks I have tried to obtain a full and final offer for both accounts (combined). I offered Cabot (£1432) however this was turned down. Later I offered £2037 to be turned down again. They are stating they need a figure of £2900. Combined debt now is £4048.79. Normally if they offer a F+F then they are in doubts has to the credit agreements - DCA's do not pass up easy money

This is £1148.79 less.

 

If there is a possibility that one of these debts could be statute barred then I am prepared to try this however if I do try this I am worried that they may withdraw all offers altogether.

 

Please could you give me some advice as to what is my best choice of action.

 

Many thanks – stevejv

 

As above post he agreements up on the site, we can soon tell you if they are valid or not, remove all personal detail;s first

PGH7447

 

 

Getting There Slowly

---------

 

Advice is given freely but is in no way meant to be taken as Gospel:-)

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Ah. thats how. I see now. Here is the Halifax agreement. The Morgan Stanley one is more difficult to photograph as it is already reduced (they probably do that on purpose).

 

Please can someone look at this and see if it looks valid

 

Thanks

 

Steve

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Well the first say application form and that is what it clearly is, the second is a bit too difficult to make out, but does it have things like APR or any other prescribed terms and conditions on it?

 

There is a thread around here that describes what should be present have a read of this thread and decide

 

http://www.consumeractiongroup.co.uk/forum/debt-collection-industry/105315-my-agreement-enforceable-useful.html?highlight=terms+conditons

PGH7447

 

 

Getting There Slowly

---------

 

Advice is given freely but is in no way meant to be taken as Gospel:-)

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Thanks. Will take a look however it isnt easy to come up with a definitive answer on here. Without looking through pages and pages of information.

 

Steve

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too true but every bit of knowledge gained is another nail in the coffin of the dca pondlife:)

PGH7447

 

 

Getting There Slowly

---------

 

Advice is given freely but is in no way meant to be taken as Gospel:-)

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