Gutted, new debt demanding!

hels123_2

last year my HUbby and I both did Experian checks and got on top of our debts. I thought we were doing well, then we got a leter from Cabot finance. It was stating my Hubby owed £2200, from a CC, thinking back he did remember having a card with £900 on it, but as it didnt show up over the 6 months we did Experian checks he kind of forgot about it.

There has been no payment for 3 years on it, and no correspondence from the CC company. The debt is now £2200 with the interest.

They demanded it in whole, but we couldnt do that, obviously. Then they demanded 3 payments which we couldnt do, so they will take monthly payments now as we sent themn an expenditure list which shows our out goings are more than the incomes!

We now have to make a payment asap to stop the intrest, so as of tomorrow it looks like we have another debt to pay :rolleyes: gutted.

Have we done the right thing??

Merlot

Yes, you did the right thing, you are going have to pay this.

Are your outgoings still more than incomings? Post an SOA and we will take a look at it for you.

Merlot.x.

stapeley

If you can not afford it don't pay it ! Do not rob PETER to pay PAUL . First thing is to request a notice of assignment and a copy of the signed CCA . You must ensure that this company has the right to pursue this debt . Remember these DCA purchase bad debt s for a faction of the amount claimed , and often have no paperwork to support the claim .