Settlement offers help Westcot/ Cabot financial

Jamestysoe

Currently I’m trying to get a settlement offer with westcot who are dealing with the debt on behalf of cabot financial Europe, for an old debt (over 6 years). I have debt with others but have managed to get a good offer from them all except this one. They don’t seem to budge from knocking of 25% of it which is still too high. One debt from another credit of same amount I actually knocked off 60%
Are there any tips on how I can get these 2 to go as low or at least abit closer?

sourcrates

Jamestysoe wrote: »

Currently I’m trying to get a settlement offer with westcot who are dealing with the debt on behalf of cabot financial Europe, for an old debt (over 6 years).
Are there any tips on how I can get these 2 to go as low or at least abit closer?

Hi,

One thing you can do to sway the balance in your favour is to send a sec 77/79 request for information to the creditor (CCA request) they may find it harder to comply the older the debt is, if they cannot supply a copy of your credit agreement the debt may become unenforceable, in which case they may settle for a lot less money.

First thing though, when did you last pay or acknowledge the debt in writing, during the last 6 years or longer than that ?

Jamestysoe

I pay westcot like £10 a month and have always paid whoever has handled the account this amount. But debt is over 6 years and I just want to pay off a settlement offer as low as possible. Just seems like they are the only ones offering such a low offer.
With westcot they’ve had to fill out a referral form with my counter offer. As westcots wasn’t great.
Just want to know is there anything else I can do before I give up trying

sourcrates

Jamestysoe wrote: »

I pay westcot like £10 a month and have always paid whoever has handled the account this amount. But debt is over 6 years and I just want to pay off a settlement offer as low as possible. Just seems like they are the only ones offering such a low offer.
With westcot they’ve had to fill out a referral form with my counter offer. As westcots wasn’t great.
Just want to know is there anything else I can do before I give up trying

In that case you may want to consider a CCA request.

Information and template letter can be found here :

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

This should be sent to the original creditor, accompanied by the statutory £1 payment, postal order is best.