Cabot Financial Scotland

leannemcgoldrick67

I got an aqua credit card in July 2017. The initial amount borrowed on the card was £100. My thoughts were that the money was being taken out my account each month through direct debit. However this was not the case and as I moved house and had several new phones since then I have never realised this as here has been no phone calls or letters to let me know. The debt has now been sold to Cabot financial and they have sent a letter to my new address stating that my outstanding balance is now £402.27. Is there anyway they can change it back to the original sum that was initially agreed when getting the credit card as I didn’t know the money wasn’t being taken out my account ? Also if I have to pay them back this amount what is the best way for my credit score weekly/monthly, direct debit/standing order any suggestions ? Thank you. 

SpreadableToast

Ultimately you're responsible for checking your bank statements to ensure the money is coming out as it should, and you're responsible for updating your contact information with your creditors.  There's no reason for Aqua, or the DCA now chasing you to write off the interest and charges from your non-payment.

As far as paying it back goes, the sooner you can pay it off the better, and as far as making your credit file look better goes, it doesn't really matter how you go about that.

sourcrates

Cabot have bought your debt, and now want full payment from you.
Your credit score is fiction, it’s the associated default that will cause you to be declined for further credit, as far as your credit file is concerned, how you repay the debt is irrelevant.

PaulW922

You may be able to negotiate a lower settlement with Cabot than the £400 they are asking especially if you only borrowed £100 in the first place. You may want to ask how the £400 is made up?