Citibank CCA / Opus - Now with Cabot

[chattanooga]

I'm thinking of sending a 'polite' note something along the lines of...

 

I'll keep paying you the same amount as I was opus...but you can send me your standing order details and go whistle for your interest.

 

Dunno if it's a good idea or not.

[chattanooga]

Any advice re: the 12% interest? I've no experience with Cabot and unsure exactly how to tread.

[chattanooga]

Polite bump.

[Nishikigoi]

Polite bump.

 

Couple of things...

 

The letter says you have a repayment plan, was this formally set up in writing as you should be able to reason this still stands?

 

The letter about the CCA, confirms it's reconstructed and admits the T&C's may not be original, this is (ARAIK) a breach of direction as to an acceptable CCA.

[chattanooga]

Couple of things...

 

The letter says you have a repayment plan, was this formally set up in writing as you should be able to reason this still stands?

 

Sadly not, I told (at the time) Citi that I could afford £x/month and they accepted it for a year without complaint.

 

The letter about the CCA, confirms it's reconstructed and admits the T&C's may not be original, this is (ARAIK) a breach of direction as to an acceptable CCA.

 

Definitely a recon. I guess I'm quite happy with the fact I did borrow the money, and I am paying it back but 12% interest, go to hell Cabot.

[Nishikigoi]

Sadly not, I told (at the time) Citi that I could afford £x/month and they accepted it for a year without complaint.

 

 

 

Definitely a recon. I guess I'm quite happy with the fact I did borrow the money, and I am paying it back but 12% interest, go to hell Cabot.

 

Now you have a choice:

 

Playing hard ball and telling them to 'Foxtrot Oscar' as an unenforceable CCA

Agreeing to pay back a fixed AFFORDABLE amount (remember you don't need to supply I&E only a DJ could ask, so if it's fair any court action would fail).

Offer a reduced F&F settlement

[BRIGADIER2JCS]

I have no idea if they can sell a debt that's being repaid as agreed and then change the terms?

The owner of a debt can sell or assign it at any time.

[Nishikigoi]

The owner of a debt can sell or assign it at any time.

 

But can that change the repayments?

[BRIGADIER2JCS]

It is expected that the debt purchaser will honour

a payment plan inforce with the original creditor,

however there is no obligation to do so, refusing

to honour an arrangement that is being maintained

would no look good if the matter was escalated to

a court claim.

[rhos123]

It is expected that the debt purchaser will honour

a payment plan inforce with the original creditor,

however there is no obligation to do so

 

"debt purchaser" do you mean a DCA? a DCA will never honour or indeed what is expected of them, when they buy these debts for peanuts!!

[BRIGADIER2JCS]

DCAs/Debt purchasers often 2 arms of the same company,

the debt purchase arm of a company aquires portfolio of debts

the assigns these debts for collection either to their own collections

arm or to a third party DCA.

I am sure you would be amazed at the number of repayment

plans aggreed with an original creditor are honoured by the new

owners of debts.

I hope tis explains the relationships between the DCAs

and the debt purchaser.