Cabot Financial

wheelie_haes

Hello,

Cabot Financial keep sending me letters regarding a £652 Capital One default from 2014!
Turns out it drops off my credit file next month but they will obviously keep chasing forever. 
How can I make this go away once and for all? They said they will accept £250 as a full and final payment. Seems a bit high for an old debt but am prepared to pay something, can anybody advise what amount will make them go away as they are saying £250 is the lowest amount.

Thankyou 

Willing2Learn

Hi,

Make a counter offer, using the National Debtline letter template.  You need to do this in writing as you need a paper-trail to ensure a positive outcome.  (Only make the payment once you have a letter from your creditor stating that Cabot nor any associate company will take any other action to collect or enforce the debt in any way and that you will be released from any liability.)
https://www.nationaldebtline.org/EW/sampleletters/Pages/Full-and-final-settlement-offers-(sole-name).aspx#

Mc228

The problem is, if you don't pay, they will probably give you a CCJ soon to enjoy for another 6 years. I'd just settle it asap.

PaulW922

How old is the debt? It may be coming up for six years and statute barred 

sourcrates

Mc228 said:

The problem is, if you don't pay, they will probably give you a CCJ soon to enjoy for another 6 years. I'd just settle it asap.

Well lets assume the legal process goes ahead as per normal, as Cabot don`t hand out CCJ`s, a court does that.

First step is to see if Cabot can legally ask you to pay this debt, you do this by sending the provit letter, in order to obtain information to establish your position.

Lets assume they comply with your request, W2L above outlines the process for negotiating a full and final settlement, of course if they cannot prove liability, you can just walk away instead if you so choose.

lostmyname

sourcrates said:

Mc228 said:

The problem is, if you don't pay, they will probably give you a CCJ soon to enjoy for another 6 years. I'd just settle it asap.

Well lets assume the legal process goes ahead as per normal, as Cabot don`t hand out CCJ`s, a court does that.

First step is to see if Cabot can legally ask you to pay this debt, you do this by sending the provit letter, in order to obtain information to establish your position.

Lets assume they comply with your request, W2L above outlines the process for negotiating a full and final settlement, of course if they cannot prove liability, you can just walk away instead if you so choose.

Hi, I am in a similar situation, Cabot taking over a debt from 2011. Please can you provide a link to the provit letter? Thank you!

sourcrates

lostmyname said:

sourcrates said:

Mc228 said:

The problem is, if you don't pay, they will probably give you a CCJ soon to enjoy for another 6 years. I'd just settle it asap.

Well lets assume the legal process goes ahead as per normal, as Cabot don`t hand out CCJ`s, a court does that.

First step is to see if Cabot can legally ask you to pay this debt, you do this by sending the provit letter, in order to obtain information to establish your position.

Lets assume they comply with your request, W2L above outlines the process for negotiating a full and final settlement, of course if they cannot prove liability, you can just walk away instead if you so choose.

Hi, I am in a similar situation, Cabot taking over a debt from 2011. Please can you provide a link to the provit letter? Thank you!

It can be found here >

https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter