Cabot advice

Rob5342

Carry on paying what you've worked out in your budget as that's all you can afford. Either block their number or send them a budget to shut them up. This doesn't hsve to be your actual budget, just something that looks plausible and ends up at the amount you want to pay. 

tigergambit

gerrard88 said:

Cabot still requesting i do a budget planner. Keep ringing me every day!

anyone got any advice so I can just pay little bit more a month? Been paying £20 for a yeae

Given the state of the economy and the cost of living crisis I would suggest that you do a budget for your own interest. If you have been paying £20 for a year I wouldn't be in the least surprised if you are now overpaying. Council tax, utilities and food costs have all probably gone up by more than your income. 

Draft one out and see whether it would be to your advantage to send it. Obviously if it isn't to your advantage then don't send it.

Oh, and block their number.

ManyWays

With DMPs, self managed or through a DMP firm, there are basically 3 ways to speed things up:
- in the early years, make affordability complaints to the lenders.  Have you made any of these? They may reduce your balance and sometimes this is the only thing that may work if the lender doesnt sell the debt to a debt collector. 
- when a debt has been sold (not just passed to a debt collector to collect on behalf of the lender) you can ask the debt collector to produce the CCA agreement for the debt if it was originally a loan, credit card or catalogue. If it can't be produced, the debt is unenforceable in court and you can simply stop paying
- you can save up a war chest and make low settlement offers to debts. these are much more likely to be accept by debt collectors after a year or more of low payments.

You need to have a rough plan what what you intend to do with which of your debts. Not settle into paying an amount a month and get comfortable with that as it can go on forever. 

So who was the lender for the Cabot debt and what sort of debt was it? 
Have you managed to save up any money so far?

gerrard88

Great feedback everyone

cabot - halifax. About 5k debt

not sure how to go about the affordability  complaints? Can anyone advise me on this?

thanks il look at the budget as well and see where to go with that

ManyWays

The Halifax debt - was it a loan, card or overdraft, as asking for the CCA doesnt work for overdrafts

gerrard88

Credif card

sourcrates

gerrard88 said:

Great feedback everyone

not sure how to go about the affordability  complaints? Can anyone advise me on this?

Check out the link to debt camel here:

How to get refunds from catalogues and credit cards · Debt Camel

LateStageCrapitalism

Hi Gerrard, If you ever request the CCA, could you post the outcome please. I'm in a similar boat, and it would be useful to know what happens.

Thanks

sourcrates

LateStageCrapitalism said:

Hi Gerrard, If you ever request the CCA, could you post the outcome please. I'm in a similar boat, and it would be useful to know what happens.

Thanks

There are only two possible outcomes, they either provide what you ask for or they don`t, if they can`t provide a copy credit agreement, the debt becomes unenforceable in court, and you can stop paying if you wish.