debt advice from Fire financial investigations / cabot

[besidetheseaside]

Hi there, I have another debt question I need your help with please.

 

We had an easyjet credit card with citibank back in 2007/08 what a load of rubbish it was too

( got points for spending to use against the flights then got charged loads of money to use the credit card booking them!) , what a con,

 

other half fell out of work and the debt on the card grew, he ignored it for ages

and now recently the debt went over to Fire from Cabot.

 

They sent us a letter stating make us a reasonable offer the debt they say is £3592.11.

 

As we are not in a strong position to pay a lump sum at present we replied we could only pay £500 as final payment as they needed to money paid within a couple of weeks.

 

They replied saying they would accept £2100 if we paid by end of June.

 

We emailed back twice asking if they could reduce it further as there is no way we could get hold of this amount of money as we are having financial difficulties and thinking of going bancrupt but they failed to reply.

 

We did not disclose our telephone number and they are sending these letters to our old address. we could possibly afford to pay around £1000 in a lump sum and pay with a credit card but that would be our limit to the max.

 

This is showing up on his credit rating as a default along with one other defaulted account which we are trying to clear too,

we want to get his rating back from poor by trying to clear these debts . Please advise us what we should do next?

[PGH7447]

if thye have said make us a reasonable offer, then there is a good chance that there is something amiss with the paperwork

[harrassed senior]

Sorry to burst your bubble, but it will take at least 6 years to get your credit rating back to 'excellent'. Once you have defaults on your files they stay there for 6 years, whether you pay up, settle up whatever, and even if they are so marked, they would count against you until they dissapear. Even if you make it a condition of your F & F offer of £1000 that the default is removed, I doubt very much if they would agree.

 

You really do not need to put yourself in more debt with another credit card by trying to make an F & F.

 

I would suggest sending a CCA request for this current card, and, as said above, it may prove that they do not have an enforceable agreement.

 

http://www.consumeractiongroup.co.uk...request-letter.

[dx100uk]

yep as advised..

 

any one offering a discount is trying to fleece you on a debt you do not have to pay.

 

it'll either be all mostly unlawfull charges and/or PPI that you could reclaim

or

there are issues with the paperwork

 

i would think the former in this case.

 

sta off the phone

do not ever speak to DCA's on the phone ever!

 

you dont owe this

so best bet is to ignore them now

 

they'll go nowhere near court & they know it.

 

as for the 'defaults'

 

they will fall off 6yrs from YOUR last financial transaction on whatever cards.

 

dx

[BRIGADIER2JCS]

Just a simple point but a very pertinent one please don't use another

card to pay the debt, this becomes a very vicious circle,even the OFT warns against it.

[besidetheseaside]

Hi all, printed out the CCA letter ready to send but not sure what address to send it to as it needs to be send recorded delivery and the current debt is with FIre Investigation and Recoveries who only give a P O Box any ideas what address I should use please?

[BRIGADIER2JCS]

RD's to Box numbers are usually signed for in bulk.

[alfwithhair]

Just send it to Cabot, its the same company, FIRE is just their scarey name to intimidate you into paying so you don't get burnt

[besidetheseaside]

Hi all, hanks for all your advice, sent the letter off today recorded delivery with the postal order for £1 to the PO box for Fire so now I have to wait to see what happens from here on.

[besidetheseaside]

guess what ,sent the letter recorded delivery yesterday and today Cabot (not fire) have replied to my email they have ignored since the 14th June, saying they have spoke to the underwriters and are willing to take a f & f payment of £1500 so its gone down another £600 from the last f & f amount given which they said have to be paid by 3oth June. Should I still wait now for the response from the letter and ignore them for several days like they did to me?

[BRIGADIER2JCS]

Waite these idiots are always behind in reponse and never check what post has reached them before pressing the button

to print more C**p.

[dx100uk]

if they are offering a discount something is wrong

 

they cannot go to court with it

 

ignore them

 

dx

[besidetheseaside]

Hi all,

 

I have now recieved a letter from Cabot Financial, infact this is the 2nd the first was just to acknowledge my letter and request for information and return the £1 postal order. Buth this is how the 2nd letter goes:

 

YOUR REQUEST FOR INFORMATION UNDER THE CONSUMER CREDIT ACT 1974

 

We write further to your request for information under sections 77 and/or78 of the Consumer Credit Act 1974.

 

Although Cabot has requested the information, the original lender is experiencing a delay in retrieving the information form its archives. Although Cabot has not been able to provide you with the information within the prescribed period, we would still advise that your debt remains legally due.

 

We are still able to report to the Credit Reference Bureaux regarding the status of your debt and we would recommend you continue your repayment plan with us or alternatively you contact us to make payments towards your account if you do not have a repayment plan aranged.

 

Thank you for your co-operation and patience in this matter.

 

 

What do I do now folks ????????

[alfwithhair]

Ignore them until they send what you requested.

If its past 12+2 working days they are in default of your request. They know the score.

[BRIGADIER2JCS]

As to the suggesting use of a credit card to clear

this debt OFT Guidance states:

Section 2.6 (b)

It is unfair pressuring debtors to sell property to raise funds,

To raise funds by further borrowing, or to extend their borrowing, if they

have suggested that, were you thinking on those lines?

 

Might be worth mentioning:madgrin:

[besidetheseaside]

no they have not suggested he makes a payment via a credit card , It was my idea just to get this paid off once and for all as we want to get a mortgage in OH name soon, but as the default stays on the account until the end of the 6 years whether paid or not I doubt he will be able to get one.

[BRIGADIER2JCS]

I can see that it would clear the debt, but it may not

get the default removed as they should stay on credit

reports for 6 years.

 

Also using all you available balance on the credit

card could lead you into problems should

you have difficulties in the future, ( OH heck I sound like a debt councellor which I'm not)