Help, it's all come back to bite me in the ....

It_seem_like_a_good_ides

Hi all

I’ve just recently found this site and it seems full of really usefull info, the problem is the more I read the more questions I have, so bare with me please.

About 5 years ago, accumulated quite a large amount of debt (credit cards / Overdrafts etc), I’m not sure but I think it was around £5000.

At the time I was about 20 and not particularly interested in paying it back (yes I was a d*#K I know).

Now I’ve grown up, have two young children and am trying to save up to but a house. Then last month I received a letter from a company called Cabot, to an old address informing me that a representative would be coming round and to ring them if the time was inconvenient. I didn’t receive the letter until after the date stated, but my friend who still lives in the house didn’t mention anyone coming round looking for me.

My questions are;
• Anyone know anything about Cabot
• If I get a Experian credit report will this, mean I am “acknowledging” my debts
• Am I right in thinking, as I moved house without telling my creditors the 6 year rule no longer applies
• Is it possible for me to find out, who now ones my debts without speaking to the companies involved (i.e., more of them finding me)
• Is it possible to make a reduced final payment offer on a debt, which has had a CCJ placed against it.
• Are CCJ’d debts recoverable indefinably
• Do creditors, sell debts on including fees, interest and obscene charges?

• Finally - WHY WAS I SUCH A D*#K?

Sorry for the ridiculous long post but I have so many thing spinning round my head at the moment.

PS. I do want to pay the debts of but I’m scarred that the amount will have got so high now it’s nowhere near what I borrowed.

Broken_hearted

Getting a credit report will not do anything other than let you know whats on it.
The 6 year rule applies but they are chasing and still have a year to find you, so it may be a stressfull year.
Creditors sell the whole debt on so all the fees will be added on to the total.
Full and final settlements are usualy accepted the % discount depends on who has it.
As to why you were such a !!!!!!, you were young and nieve. We live and learn.

THE_LONE_RANGER_4

cabot are debt buyers , have you heard from the other debts ? dont do anything rash gather all what you have on your debts when they last contacted you etc and post more details and we will try to sort it out for you your current address i assume is clean /?

It_seem_like_a_good_ides

Thanks to both of you for the quick reply

Broken hearted.

I read somewhere else that if you moved without telling your creditors, the rule didn’t apply as you broke your agreement to tell them and, they may have been doing all the things they can be expected to do to find you
Is just the fact that you haven’t responded that is the important part.

When you say F/F settlements are usually acceptable do you mean on debts with CCJ’s as well

Are debts with CCJ’s against them recoverable indefinitely

The Lone Ranger

I’ve not heard anything from the other debts recently.
I think I may have had a couple of letters a year or two back, but to be honest I have been living in student type areas / accommodation and as such have moved every year They may have been sending out countless letters which I don’t know about.

How do these debt buyers work, will they have bought all me debts, debts from a particular company / group, or are they likely to buy one, see if I pay and then buy the rest.

It just seemed a bit strange to me that the letter I received was so vague, and although the date they were going to come round was over a month ago their has been no follow up letter or visit

Is there a way to find out who owns a particular debt without them either getting your details or if they de get them passing them on

Thanks again