Equidebt and cabot financial

helenj36

I have been paying a debt i had with rbs back monthly to Equidebt who say their client is cabot finiance.i havent missed a payment.today i get a letter from equidebt saying cabot financial want the debt back and it being transfered to them.but there an offer to pay the debt of now with a 18% discount taken off.I phoned cabot finiance today as equidebt where shut and they say they havent got the debt back yet but still have me on thier records,what worries is me is the bloke said what do i pay at the moment and when i said amount he said i doubt we would stick with it that low.can they do this
any advice be great

aimingforadebtfreelife

Be aware of the golden rule of debt collection agencies - NEVER EVER PHONE THEM.

The call centre person's work is based on targets and the more they get you to pay the better figures they will have and they wont care if I threaten you with legal etc to force you to pay something you cant afford. Thats why you need to put everything in writing as sometimes on the phone they will spin the truth but cant in a letter as its hard evidence. Equidebt will have offered you the discount as a last attempt to please Cabot. If you could afford settlement then push Equidebt to 30%, if they say no walk away and let Cabot take control.

You should get a letter from Cabot when they are handling the account. Write back to offer the same amount you were paying Equidebt and send in an income and expenditure form.

Dont worry about what the guy said they will accept it, he's just trying to squeeze more out of you.