Debt Collection Agency Offering a Discount.

sourcrates

azad1980 wrote: »

hello everyone after several month i request for the CCA (Consumer Credit Act) today i have received letter from CABOT FINANCIL they ask for payment plan and they couldn't make my request . any advice i will be appreciated thank you.

So they can't produce a valid credit agreement, is that what your saying ?

What exactly, does the letter say.

azad1980

thank you sourcrates for your replay.
yes theycan't produce a valid credit agreement.
the letter say.

Dear
Welcome back to Cabot
Your account was being managed by an agent of ours; we have decided we would like to
work with you directly and have asked them to return it to us.
We know you have previously made payment to our agents and we want to support you
by helping you set up a Personal Payment Plan.
A new plan built for you ,
We specialist in flexible payment plans which are built around our customers. We can talk to you about your situation and make sure your plan is affordable.
thank you.

sourcrates

But what do they say about the agreement, and why can't they produce it ?

azad1980

its good question why can't they produce it the agreement and why they not talk about the agreement?? even i i have no idea
and what shall i do should i ignore the letter??
thank you

sourcrates

Az,

What does the letter say about the agreement ?

You say they can't produce it, how do you know this ?

Or are you saying they have ignored your request ?

azad1980

yes they have ignored my request,
i have already request for the CCA about several month ago and they replay my letter at say.

15 February 2017
Dear

Thank you for your request for information under sections 77-79 of the consumer credit Act 1974.
we currently do not have this information on file. However, I have requested which will include the relevant details, a copy of .the credit agreement, statement of account and original and varied terms and conditions from the original lender.

What happens next?

I acknowledge the 12 day time limit to provide this information before the credit agreement becomes
temporarily enforceable. How as we have to request the details from the original lender i anticipate that we will not be able to provide this within 12 days but we hope that within 40 days we will have retrieved the information to comply with your request. ln the unlikely event we are unable to obtain this information after 40 days, we will write to you, again.



thank you for your advise

sourcrates

Ah, ok, looks like they are struggling then.

At present, the debt is unenforceable, as they have not responded to you.

You should write back chasing this up.

You don't have to pay anything until they do respond to you.

azad1980

thank you sourcrates for your replay
yes they are struggling
the debt is unenforceable, that is good news i will write back ask them to my request for the CCA .
thank you

zippygeorgeandben

Thinking futher on, if you do have to pay this back, you need to have (preferably) a written agreement with your friend as to what to pay back and in what timescale. As the saying goes 'Never a lender nor a borrower be'

Geoff1963

Offering a discount is fairly common. Perhaps the best plan for people in similar situations, is to pay only as little as the DCA will allow, while saving up for the ability to then pay a lump sum when they offer a discount.