Settlement debt from default 2005

marr2032

I am looking for some help please.
My original debt dates from August 2005 with an RBS credit card.
I have been paying via Cabot £15 a month which has reduced the sum owed approximately from £8200 to £6700.
Prior to 2013 when Cabot bought the business from Equidebt I had been made an offer to clear the debt for 20 % of its value at that time. It was around 2011 that they called me to make the reduced settlement offer.I understand Cabot have to honour any terms of business from my arrangement with Equidebt. Whilst back in 2011 I was not in a position to settle, a relative has now offered to help clear my Cabot balance if I can get the same 20 % figure.
Does any one know if Cabot would be duty bound to match the previous discount as part of the terms agreed to when they took over Equidebt following their liquidation?
Thank you in advance.

sourcrates

Hi,

No they wouldn't, in a nutshell.

Cabot will of bought your debt, so are not obligated to offer what the old owner offered.

However, having said that, DCA`s are always open to settlement offers, but there is a process you should follow first, in order to get the very best deal possible.

(1) Send a CCA request to Cabot, this is to make sure they have the legal right to even ask you to pay this account (very important first step).
Information and template letter here :

https://www.nationaldebtline.org/EW/sampleletters/Pages/Information-about-your-agreement-under-the-Consumer-Credit-Act-%28sole-name%29.aspx

(2) Dependent on the outcome of the CCA request, you can make an offer to Cabot using this template letter :

https://www.nationaldebtline.org/EW/sampleletters/Pages/Full-and-final-settlement-offers-%28sole-name%29.aspx

Good luck.

marr2032

Dear Sourcrates

Thank you I will use the templates you have suggested
Regards
Marr2032