Morgans Solicitors & Cabot & BOS & threatened bankruptcy

[jomogg]

My debt from the BOS( £18,000) was sold to Cabot. I authorised my Brother in law to act for me by post. His last letter was in November 2007 to Cabot offering them a sum in full settlement. Cabot never replied. My brother in law took no further action. Yesterday I received a letter threatening bankruptcy proceedings against me from Morgans. My brother in law wants them to take me to Court as he feels with no reply to his original offer, and the fact he feels BOS did NOT show 'due diligence' in letting me rack up such an overdraft, that the case will be thrown out. I am quite ill phsyically/mentally and dont feel my health will sustain such a court hearing or the fear of it. As I am absolutely terrified I contacted Morgans, who said they would accept a nominal monthly re- payment offer per month in lieu of court proceedings. My Brother in law is furious with me..but I know I could lose my house, life and everything if I follow his foolhardy advice and intentions.. What does anybody advise me to do ?? If a debt is sold on, can the orginal creditor be blamed in court, years later for not showing 'due diligence' Many Thanks..John

[StinkyFeet]

Hi Jomogg, can see how alarmed you are at all this, let me try to get a picture of it then to see if I can offer any help.

 

Personally wouldn't go into any IVA or payment arrangement with them especially as they didn't have the decency of replying to your letter in 2007.

 

This debt looks pretty old, am I correct? reason why I ask is that you say your brother sent last letter to them in Nov 2007?

 

When was last time you actually made a payment to BOS?

 

Have they defaulted this account? if so, what date and year did they do this?

 

My reasons for asking is that the debt could be close to falling off your credit file, if you obtained a copy of your report from Experian and Equifax you could see when the default date was.

 

It may be worth sending a CCA request to these solicitors to see if they have the credit agreement in the meantime.

[barbara1950]

I was in a similar position, where Lowells the DCA threatened me with a Statutory Demand, I rang to arrange some sort of amicable payment, the debt was smaller than yours, and they said at first they wanted 50% of the outstanding balance before they would consider accepting a dmonthly payment. They then went to 25%. Im not sure what to do myself about this, whether just to pay to get them off my back and not lose my home etc. Anyone any ideas?