Barclays have sold my debt to Cabot

Devils_Avocado

I don't mind. Barclays sold my debt to one company, who sold it to another, Barclays then bought it back again and have now sold it to Cabot.

However, I came to an arrangement with Barclays - and others - 8 years ago when I had a heart problem and began to claim Pension Credit, and have made the small regular payments ever since, always on time, regardless of who was owning the debt.

Now Cabot are emailing me and writing me letters. They want to review my my finances and really "help me" as much as possible. Today I received through the mail, one of those interminable income and expenditure forms for me to fill in. I just wrote "unchanged" across the form and returned it in the supplied pre-paid envelope.

I just keep telling them my circumstances haven't changed. I pay the money every month, leave me alone! Quite frankly I had my fill of those damned forms 8 years ago and have no intention of doing another one, especially when my payments are up to date.

So - I wonder what Cabot will do next?

sourcrates

Hi,

Was this for an old bank account, loan or credit card account, or something else ?

Devils_Avocado

sourcrates wrote: »

Hi,

Was this for an old bank account, loan or credit card account, or something else ?

It was a credit card account. Thanks.

National_Debtline

Hi there


It's up to you how much you engage with these periodic requests for updated income and expenditure - debt collectors will tend to issue them every so often one way or the other, especially if the debt has changed hands (again) and the new collector is hoping to recover it at a faster rate.


So, what will Cabot do next? In theory, they can sue you for the remaining balance if they think it's worth their while - but nothing you have said above suggests to me that that would be the case here. What's more likely is that they will send you further requests for a budget review a little further down the line, at which point you either .


The other approach sometimes suggested in these scenarios is to issue a request to Cabot to supply a copy of the credit agreement concerned (often referred to as a Consumer Credit Act or CCA request). If they're unable to do so, their ability to enforce the debt may be compromised, and they may then be more inclined to leave you alone and settle for whatever you are prepared to pay.


Dennis
@natdebtline