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Cabot financial and interest


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I HAD A CREDIT CARD WITH MONUMENT, I DEFAULTED ON IT IN 2004 CABOT FINANCIAL CONTACTED ME SAYING I OWED £1300, BUT THE DEFAULT AMOUNT ON MY CREDIT FILE WAS £784. i RANG STRAIGHT AWAY TO DISPUTE THE AMOUNT OWED. CABOT SAID I NEED TO PHONE MONUMENT AS CABOT DONT ADD CHARGES OR INTEREST ONCE THEY HAVE THE DEBT. I PHONED MONUMENT AND THEY PASSED ME BACK TO CABOT, CABOT THEN SAID THAT THEY HAVE THE RIGHT TO APPLY CHARGES ETC UNTIL A PAYMENT PLAN HAS BEEN AGREED. IS THIS CORRECT CAN THEY ADD INTEREST?

 

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First thing I always suggest is not to talk to these people on the telephone, as you have found out they lie and threaten and tie you in knots.

 

Have you gone down the CCA route yet to prove that Cabot even have the right to contact you, and that Monument actually have an enforceable agreement?

 

Don't worry about the rights and wrongs of who can add interest yet.

Every journey begins with a single step :):)

 

Please note: I have no qualifications in this area - my advice is learned from the wonderful members of this Forum. Thanks to you all for your help.

 

If you have found my post helpful please leave a short message by clicking the star to the left of my profile - Thank You

 

The only person entitled to your Personal Finance details is a Judge not a DCA

 

Move all banking activity to another banking group if you have a dispute - your funds can be used to offset debts within the same group.

Be careful with Banking details (card/account numbers) as these can be used to take unauthorised payments.

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YEs thats correct I CCA Cabot and they then passed it on to another company called allpay ltd. I have not spoke to allpay ltd yet, I have only contacted cabot regarding the disputed amount.

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