Should I ignore phone calls from Cabots Financial?

Shirl148

In 2021 I defaulted on 5 credit cards after losing all my freelance work due to covid lockdowns. 3 of the creditors’ cards accepted my monthly payment offers and I have been on a repayment plan since, the 2 remaining companies however neither agreed nor disagreed. They just told me they would either be in touch in due course or may appoint a third party. I have also attempted to make monthly payments to the 2 creditors whom I have no repayment plan in place with, but these payments were bounced back to my account due to the creditors closing these accounts.

Eight weeks ago, I started to receive random phone calls from several unknown numbers which my phone company flagged as “potential fraud”. After googling the numbers, I discovered they were supposedly all coming from Cabot Financial. Numerous people have commented that it was a scam as they had no debts and the caller does not divulge why they are calling unless you provide DOB, address, NI number. Cabot state on their own website that “We will only contact you by phone after sending out an introductory letter.”  

I have not received any letters from any of my original creditors informing me they had sold the debt or appointed Cabot to collect the debt on their behalf. Likewise, I have not received any letters from Cabot stating they have bought any of these debts or been appointed to collect on behalf of any of the creditors.

I have also checked my credit file and my debts are still showing as being owed to the original creditors. There is also no mention of Cabot having acquired any of these debts.

Can someone please advise me the best way forward.

Should I continue to ignore the phone calls from Cabot in the hope that they will eventually write to me as stated on their website. Or should I write to them asking why they are contacting me and ask them to send proof of any debts they may have purchased from my creditors?

sourcrates

Phone calls/emails/texts you can ignore the lot of em.

If they want to get serious, they will write to you, they always go with the cheaper options first, despite what their website may say.

When they write, respond with the provit letter, if they manage to prove liability, then the next move is up to you.

Cotswoldtony

5 credit cards I assume would be a large amount of debt so ignore the lot as sourcrates mentioned.

Credit Cards have a default part to cover debt so the credit card company are covered for the debt plus they sell your debt to debt collection companies for profit.

Time to restructure your finances/assets/debts by compartmentalizing to protect yourself from any creditors or future legal action.

It's like a ship with no water tight compartments it will sink in a storm especially if overloaded.

Shirl148

sourcrates said:

"When they write, respond with the provit letter, if they manage to prove liability, then the next move is up to you"

Thank you for your reply, very much appreciated. Do you know if there is a template anywhere for the " provit letter" please? 

Martico

Here you go - provided by sourcrates themselves

RAS

Just don't prod the bear, only send the letter if they write to you.

Shirl148

RAS said:

Just don't prod the bear, only send the letter if they write to you.

Understood, thank you. 

fatbelly

RAS said:

Just don't prod the bear, only send the letter if they write to you.

...which they may never do.

Shirl148

fatbelly said:

RAS said:

Just don't prod the bear, only send the letter if they write to you.

...which they may never do.

If they never write to me informing me why they want to speak to me and I continue not taking the calls, does that mean they will they just proceed with taking me to court without prior warning? 

fatbelly

Most people's addresses can be easily traced. Does your bank know your present address? In that case it will be on your credit file and in all probability the activity of 2021 will be there, unless you have deliberately ducked and dived in the past two years.

If they are serious about wanting payment they will write and explain what this is

EssexHebridean

Shirl148 said:

fatbelly said:

RAS said:

Just don't prod the bear, only send the letter if they write to you.

...which they may never do.

If they never write to me informing me why they want to speak to me and I continue not taking the calls, does that mean they will they just proceed with taking me to court without prior warning? 

No - they are not allowed to do that. Your only issue on that score comes if you move house - at which point you have to balance the risk of writing to them with your new address, against the chances of them ever actually taking action.

The reason for not speaking to them over the phone is twofold - for a start if they actually want to pursue the debt they HAVE to write to you by post. And second, it would not be the first time that something agreed over the telephone has mysteriously disappeared from the record, or indeed been materially altered, subsequently.