Cabot

MiniFudger

Hi, looking for some advice. My wife has 2 18 year old debts from a credit card & a bank loan. She has been paying Cabot monthly for the past God knows how many years. Cabot recently started getting antsy and asking for more money then threatening for people to come to the door. After some research here I got her to send a CCA request for both & they have replied as both unenforceable. Does she have to keep the payment plan now or can we cancel it? Any advice on how we progress would be greatly appreciated. 

sourcrates

You can stop paying, should you want too, they can`t enforce the debts through the courts, but they can still ask you to pay.

MiniFudger

Thanks for the reply. We don't mind paying it back just didn't like their threatening tactics. We shall continue as is. 

sourcrates

But they can`t enforce the debt, so why bother?

Consider this for a moment, they likely bought the debts for around 10% of their face value, so personally I`d have no qualms about stopping payments to them and putting the money to better use.

That was after all, your initial question.

bodybag_2

sourcrates said:

But they can`t enforce the debt, so why bother?

Consider this for a moment, they likely bought the debts for around 10% of their face value, so personally I`d have no qualms about stopping payments to them and putting the money to better use.

That was after all, your initial question.

I took your advice in nov/dec last year, they couldn't produce the CCA, so I stopped paying.  I get letter every week asking for me to repay it, I just ignore it.  

They did send an orbit collector to the door, that was also ignored & have threatened again to send another....again this will also be ignored.  

This is a debt going back to 2007, and has been passed to various debt collectors.  Im going to stick to my guns until the CCA turns up...if it ever does.