Cabot

Cat87

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? 

fatbelly

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.

sourcrates

Concider sending a CCA request first, just to accertain your position, may help with negoatiations later.