cabot full & Final

morgan78_2

hiya all

Was on a dmp with cccs but decided to do my own so rang cabot to do a payment plan with them, mentioned and full & final total amount owed was 5600 but after a lot of haggling got the settlement down to £2600 which my parents have offered to pay they said they will email me in the morning the full and final letter.

Just wundering what people think of the offer and is there anything i should be wary of, I told them that the letter must state it is full final and they noone will pursue the debt

Deep_In_Debt

Only deal in writing - National Debtline website has a good templlate letter you can use - never accept anything over the phone.

Make sure that the offer is accepted in F&F and they, nor any associate or third party will chase you for the remainder and that your credit file is marked as "satisfied". Get all this in writing and do not pay anything over the phone - once they have card details they have been known to just help themselves.

Start low with the offer - 25% should be a good starting point. Leaves room for negotiation.

Good luck.

symikins

am negotiating with cbot they want 4800 for a 9250 debt
have offered 2800 and been refused so gone up to 3200 they are still after more am on long term sick so have sent in meds details as requested witing for reply any advice pse??

Hippocampus

Hang ON everybody. Why so quick to offer this lot ANYTHING? Do they have any right to your money? If you think the answer is yes, then how do you know? What does the debt consist of? How did they arrive at their ridiculous figure? Have THEY included any charges or interest that they have no right to levy?

So many questions... loads more than I have listed... and you need to know the answers before agreeing to pay a penny.