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Cabot Financial Offering 75% Discount

Sly72
Sly72 Posts: 209 Forumite
Third Anniversary 100 Posts Name Dropper
in Debt-free wannabe

I have had 3 letters today offering me 75% discount of each debt total saying around £8500, they say I can either pay in full or over 3 months, but they can be flexible depending on my situation.

My question: Does anyone know if they will offer me the discount if it takes longer to pay it off, say 2yrs?

NOTE: Please don’t respond with comments / questions around are debts enforceable have you submitted CCA etc, I would just like my question answering apologies if this offends.


I have Dyslexia which is a learning difficulty that primarily affects the skills involved in accurate and fluent word reading and spelling so some post may not make sense.

Comments

  • Rob5342
    Rob5342 Posts: 2,812 Forumite
    1,000 Posts Third Anniversary Name Dropper
    It's anyones guess really, but if they are offering such a big discount then you have to wonder why. Don't dismiss the question of the CCAs, you should always check that before settling anything.
  • Sly72
    Sly72 Posts: 209 Forumite
    Third Anniversary 100 Posts Name Dropper
    Rob5342 said:
    It's anyones guess really, but if they are offering such a big discount then you have to wonder why. Don't dismiss the question of the CCAs, you should always check that before settling anything.
    I am aware
    I have Dyslexia which is a learning difficulty that primarily affects the skills involved in accurate and fluent word reading and spelling so some post may not make sense.
  • fatbelly
    fatbelly Posts: 23,677 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Cashback Cashier
    They may be just desperate to get some cash in though that does seem to be a generous opening offer.

    If they were to accept your proposal of paying over 24 months that would defeat their objective. I think 3 may be the max, at least with a 25% settlement
  • Sly72
    Sly72 Posts: 209 Forumite
    Third Anniversary 100 Posts Name Dropper
    fatbelly said:
    They may be just desperate to get some cash in though that does seem to be a generous opening offer.

    If they were to accept your proposal of paying over 24 months that would defeat their objective. I think 3 may be the max, at least with a 25% settlement
    T&C state - If you're unable to make the payment(s) within a 3-month period at this time but would like to redeem this offer, call us on 0344 556 0263, we can discuss a flexible time frame, subject to your situation

    Is it worth a try?
    I have Dyslexia which is a learning difficulty that primarily affects the skills involved in accurate and fluent word reading and spelling so some post may not make sense.
  • [Deleted User]
    [Deleted User] Posts: 0 Newbie
    Part of the Furniture 10 Posts Name Dropper Combo Breaker
    edited 2 November 2023 at 9:32PM
    They are trying to tempt you to make contact with them. A hook.
  • fatbelly
    fatbelly Posts: 23,677 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Cashback Cashier
    If your chosen strategy is full & final settlement then you have or will have a lump sum to offer.

    My advice is to put the initial offer to them in writing, then finalise the deal by telephone, then get the final deal in writing. Then pay.
  • Sly72
    Sly72 Posts: 209 Forumite
    Third Anniversary 100 Posts Name Dropper
    fatbelly said:
    If your chosen strategy is full & final settlement then you have or will have a lump sum to offer.

    My advice is to put the initial offer to them in writing, then finalise the deal by telephone, then get the final deal in writing. Then pay.
    Double chedked and these debts are currently unenforceable so not going to bother, thanks for advice anyway.
    I have Dyslexia which is a learning difficulty that primarily affects the skills involved in accurate and fluent word reading and spelling so some post may not make sense.
  • Rob5342
    Rob5342 Posts: 2,812 Forumite
    1,000 Posts Third Anniversary Name Dropper
    Sly72 said:
    fatbelly said:
    If your chosen strategy is full & final settlement then you have or will have a lump sum to offer.

    My advice is to put the initial offer to them in writing, then finalise the deal by telephone, then get the final deal in writing. Then pay.
    Double chedked and these debts are currently unenforceable so not going to bother, thanks for advice anyway.

    Presumably that's why they offered such a big discount.
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