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Cabot financial offering "settlement figure"


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Hi I wonder if anyone can advise us? My husband has been paying off a debt from Lloyds which they sold to Cabot.

 

Cabot have now written offering a settlement figure! W

 

e can't afford to do this.

 

We are now worried that if we refuse, they may threaten to take action.

 

We do not own our own home, nor have any other assets of any worth so we are worried about what they will do.

 

Having read other posts on sites, it appears that Cabot do not have a particularly good reputation.

 

We are just wondering how to proceed with this, or just refuse the offer and carry on paying?

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Hi I wonder if anyone can advise us? My husband has been paying off a debt from Lloyds which they sold to Cabot.

 

Cabot have now written offering a settlement figure! We can't afford to do this. We are now worried that if we refuse, they may threaten to take action. We do not own our own home, nor have any other assets of any worth so we are worried about what they will do. Having read other posts on sites, it appears that Cabot do not have a particularly good reputation. We are just wondering how to proceed with this, or just refuse the offer and carry on paying?

 

Hi welcome to CAG,

 

There is little Cabot can do your husband is paying all he can reasonably afford, YOU DO NOT have to agree to the settlement offered.

 

Just tell them it is beyond your means and payments will continue as normal.

 

Don't stress over Cabot.

 

Is this a loan,credit card, current account?

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Since its cabot, keep paying a token amount, or whatever your current payment plan is, but i suggest you get all the facts surrounding the debt. Cabot normally deal with 'lemon debts' or debts that have something so wrong with them, that the OC wont risk collecting it.

 

It's well worth checking. if the debt is legit, then no harm has been done as you have still kept up the repayments as originally agreed.

Any advice i give is my own and is based solely on personal experience. If in any doubt about a situation , please contact a certified legal representative or debt counsellor..

 

 

If my advice helps you, click the star icon at the bottom of my post and feel free to say thanks

:D

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offering a discount.urm

 

something wrong with the debt then?

 

what type of debt is it please?

 

when did he take it out?

 

is it on his CRA file [see below]

 

dx

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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