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Cabot
Cat87
Posts: 10 Forumite
Hello,
I have a very old debt with which Cabot now own. It is a frozen debt, about 13 or 14 years old in the region of 5k. Cabot used to send me 70% settlement offers to clear it, but they have recently checked my credit rating and want to up my payments to £90 a month. I've ignored this letter and want to clear the debt with the settlement offer they used to send next month. How likely are they to accept this do you think, given they now want me to pay more monthly?
I have a very old debt with which Cabot now own. It is a frozen debt, about 13 or 14 years old in the region of 5k. Cabot used to send me 70% settlement offers to clear it, but they have recently checked my credit rating and want to up my payments to £90 a month. I've ignored this letter and want to clear the debt with the settlement offer they used to send next month. How likely are they to accept this do you think, given they now want me to pay more monthly?
0
Comments
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Their 'review' means nothing - your credit report tells them nothing about your income or expenditure though it may show what you are paying to other debts.
In any case if you want to settle at 70% make that offer to them in writing. Well, start a bit lower to give room for negotiation, say 50%. National Debtline have a standard letter that is very good.0 -
Concider sending a CCA request first, just to accertain your position, may help with negoatiations later.
I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0
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