Cabot to Wescot back to Cabot

Philip624

I have a DMP with 2 and half years remaining, all is going well, my smallest debt is with NatWest £1390. Previously they have indicated settling for 85% however I am not in a position to afford that currently.

Cabot were managing on behalf of NatWest then it switched to Wescot a short while ago now I have a letter saying it’s back to Cabot. The letter says they are still fine with the monthly payment but I just wondered what the reason is for the musical chairs between Westcot and Cabot?

sourcrates

Cabot are debt purchasers, they don’t manage debt for anyone.

Wescot we’re managing the debt for Cabot, as wescot dont buy debts.

Cabot have been the owner since they bought it off Nat west.

Just_Di

Philip624 wrote: »

my smallest debt is with NatWest £1390. Previously they have indicated settling for 85% however I am not in a position to afford that currently.

. . . . now I have a letter saying it’s back to Cabot. The letter says they are still fine with the monthly payment

As sourcrates has said, Cabot is now the owner of the debt (assuming they can prove the assignment ).

Maybe you should send a s 77-79 CCA Request to Cabot to establish whether this debt is unenforceable in court. They will probably have to seek the documentation from NatWest who may not have retained it or may not be willing to give it to Cabot.

If it is (UE) because they cannot comply with your request then Cabot may be willing to accept a much lower Full & Final settlement or even no payment at all

Di