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  • #1

    Contactfrom Cabot

    It's been a while since i posted on here since my result with another debt, but i have recently received a letter from Cabot Financial regarding a debt i have with a Halifax Credit Card. Previously, the account was managed by Blair Oliver & Scott, and has now been purchased by Cabot.

    I am now thinking of making full & final offers to my remaining creditors & am specifically asking for anyones knowledge on Cabots willingness to accept full & final offers & at what percentageof the outstanding debt individuals have had success.

    Many thanks,

    Mark
    Tags: account, accounts, act, blair oliver, cabot, card, cards, cca, cca request, con, credit, credit card, credit cards, credit history, creditors, cross, debt, debts, defaults, financial, halifax, individuals, law, letter, loan, money, niddy, offers, removal, santander, templates, unenforceability, unenforceable
  • #2
    Re: Contactfrom Cabot

    you can never tell, if I were doing F&F I would start at about 18% but it's not something I would do

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    • #3
      Re: Contact from Cabot

      Originally posted by Flowerpower
      Is there any reason why you wouldn't consider UE for those accounts?
      Hmmm, well it did cross my mind, especially with this one, but my remaining debts were mostly with credit cards issued in the last 6 years, but honestly i don't know if that makes any difference. To be honest, i just want to get rid of the debts as soon as i can so i can start rebuilding my credit history, as i have been on informal token payment plans with all my creditors since mid 2008.

      With this specific debt, i originally had a Halifax credit card as part of a loan i had to buy a car. I didn't use the card at all, so, after a couple of years they wrote to me to say as i had not used the card they would not be issuing a new one when that one expired. I thought nothing more about it until, all of a sudden, after a few more years a Halifax credit card appeared through the post. I had not applied for it, but did use it, hence the debt on it.

      So, i do wonder if this may be unenforceable as i hadn't applied for the newer card? Might be more complicated than i think, plus, unfortunately i do not have the letter saying they wouldn't be issuing a new card after the original one expired.

      Any thoughts appreciated.

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      • #4
        Re: Contactfrom Cabot

        I once tried a f&f with them, but they are very greedy and wanted 95 per cent, so they got nothing!

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        • #5
          Re: Contact from Cabot

          Originally posted by Flowerpower
          You do know paying has nothing to do with rebuilding your credit history, don't you?

          Once you've been defaulted, the defaults will stay on file for 6 years after they were recorded regardless of whether you pay or not. If they were recorded in 2008 they'd be dropping off in a couple of years anyway so you don't have long to worry about them. Also some lenders only look at the last 3 years so you may even be successful with some credit applications at this stage.

          See this for reference regarding defaults ---> UPDATED - Defaults, The Law Removal - allaboutFORUMS

          You have nothing to lose by sending off a CCA request ---> Our Templates | Unenforceability Templates | CCA Request

          It'll only cost you £1 + postage (Recorded Delivery) per letter so it's money well spent and it can save you a lot more.

          See what you get back and send it to Niddy for his verdict.

          Why pay when you don't have to...

          The 'converted' cards situation could also apply to this one if the card was originally a single use loan for a car - I'll leave it to Niddy and Paul to comment, they are the experts on this situation. You do know Paul won the case against Santander for one one of them 'upgraded' credit cards, don't you? See this ---> Do you have a Store Card to Credit Card? - allaboutFORUMS

          Must say there's alot of food for thought there, i will have to get busy & have a read & get some letters off.

          I always assumed that the defaults were given on a regular basis for each account, but i guess i was incorrect in that assumption. All they need to do though is issue another one at the end of the 6 years.

          As for the credit card i was talking about, the card was in addition to the loan i had & was something i didn't need at the time, hence why i didn't use it & they then wrote to say they weren't going to issue a new card when that one expired. I only used the card they then subsequently sent to me a few years later, which was odd as i hadn't applied for a new one!

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          • #6
            Re: Contact from Cabot

            Originally posted by kentishbloke View Post
            I always assumed that the defaults were given on a regular basis for each account, but i guess i was incorrect in that assumption. All they need to do though is issue another one at the end of the 6 years.
            Only 1 default can be placed per account, once that drops off the credit file after 6 years it's gone. Another 1 cannot be placed on the file.

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