Cabot Financial

greenbrucelee

I have been in an IVA for 4 years and 2 months. One of my debts was with the clydesdale who use MCE portfolio to try and recover the debt before I entered into the IVA. I am now being contacted by Cabot financial who say they know nothing about my IVA and are demanding payment. I have told payplan but I am getting worried as I had to move back in with my mum who has had a stroke and she accidentally opened a letter this morning which was from Cabot and she has been ill all day after reading it. How can I get this to stop?

DorisTrousers

This is an unfortunate effect of any debt solution, creditors sell or pass out to outside collectors vast portfolios of debt, without weeding those out which have formal solutions such as yours.

You could point them to the Insolvency Register so that they can see that you are not pulling the wool over their eyes, and also, if necessary, a copy of your original proposal/chairmans report showing that debt as being bound by the IVA. It is unfortunate that it has come to this, but they have no legal power of recovery on this debt as it stands, so do try not to worry too much.

greenbrucelee

Thanks for your reply.

I have emailed them to tell them payplan are going to send them a cease action letter and that they should not be phoning me and sending me demand letters.