Help - Cabot and Mortimer Clarke Solictors

Adviserequired

I hope someone can help.

In 2005, I took out a credit card with Lloyds TSB. Due to a change in financial income, I stopped paying Lloyds in 2014. Stupidly, after getting numerous threatening letters by Cabot, I paid them a nominal £5 a month from 2017 until around May 2020 when I ceased payments. So it’s not statute barred.

Fast forward, yesterday I received a letter from Cabot stating my account is being passed to their internal solicitors, Mortimer Clarke. They will be writing toy be in the next 7 days. From what I have read online, they seem to like going down the CCJ route, which is what I want to avoid. The amount owed is around £3,300 of which I can’t afford. I’m struggling to make ends meet as it is. I am preempting things and was wondering if I can been given advice on what I should do? Should I wait and see if should I start asking for the relevant documents to be sent (such as the original credit agreement and default notice, etc)? I am new to this so I apologise in advance for my naivety.

sourcrates

They are not expecting payment in full from you, an offer of monthly payments, of an amount you can afford, will be accepted.

Obviously they don`t know why you stopped paying, when Mortimer Clark write to you, they will likely ask you to complete an SOA, to determine your financial position.

It would be in your interests to either provide it, or explain your circumstances to them, if you can`t afford to pay, tell them so, affordability is key, so if your in no position to pay, just say so.

They will not proceed with legal action if your financial position does not support it, save the paperwork request for when you might need it.

RAS

At best, the OP would benefit from a session with a debt advisor. If they can't afford a £3k debt, they are unlikely to have £1k+ for an hour and a bit with a solicitor who fills in a form for them.