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Hi all. I've been reading through a lot of different examples on here and not sure where I should go with this or what to do. So I'll start from the beginning. I had a Capital One card taken out in 2001 which I maintained for several years. In March 2011 I moved to another area and was out of work for a while so I ended up being unable to afford payments, the balance at the time was around £880 IIRC. Went through several letters from them, they added a bit of interest on and I just buried my head in the sand as for a while I wasn't able to pay it and eventually they went away, though IIRC I did hear they tried to contact me at my old address (think the default was September 2011).
Around six months ago I got a letter saying the debt had been taken on by Cabot (my Noddle credit file backs this up). At this point it stands at £1048.29 which is around what I recall it amounted to at the time. I then received several letters from Cabot one a two weekly basis since then - I actually hoped they'd offer me a reduced amount as I may well have taken them up on it, but nothing reduced was ever offered.
Last week I received a letter from Shoosmiths dated 18th January. Basically the letter says they're acting on behalf of Cabot Financial (UK) under instructions from Cabot Financial (Marlin) Limited and that I treat it as a letter of notice, that unless an agreement is reached within 14 days of the date of the letter, they are instructed by their client to issue a claim in the County Court for recovery of the sums oustanding by me.
They go on to mention about seeking the legal costs from me, if an claim is issued and I do not reply to the claim form they're instructed to ask the court to grant judgement in default with installments of £50 per month. Also that if Judgement is obtained and payments not maintained, then they will be instructed to enforce that judgement which may include an application for a charging order or any other appropriate method of enforcement.
Then in the next paragraph they say if the court does grant judgement, the details of that judgement will be entered on the Register of County Court Judgements, Orders and Fines etc.
There is a section on the next page entitled "proposals" where they say they may be able to accept less than the sum outstanding in settlement.
Just wondering if people can give me some advice on this. I would very much like to get rid of this, certainly don't want a CCJ and am trying to tidy my credit up with looking to get a house in the not too distant future, but whilst better off financially I'm not exactly loaded either.
Thanks for any replies that come my way
Around six months ago I got a letter saying the debt had been taken on by Cabot (my Noddle credit file backs this up). At this point it stands at £1048.29 which is around what I recall it amounted to at the time. I then received several letters from Cabot one a two weekly basis since then - I actually hoped they'd offer me a reduced amount as I may well have taken them up on it, but nothing reduced was ever offered.
Last week I received a letter from Shoosmiths dated 18th January. Basically the letter says they're acting on behalf of Cabot Financial (UK) under instructions from Cabot Financial (Marlin) Limited and that I treat it as a letter of notice, that unless an agreement is reached within 14 days of the date of the letter, they are instructed by their client to issue a claim in the County Court for recovery of the sums oustanding by me.
They go on to mention about seeking the legal costs from me, if an claim is issued and I do not reply to the claim form they're instructed to ask the court to grant judgement in default with installments of £50 per month. Also that if Judgement is obtained and payments not maintained, then they will be instructed to enforce that judgement which may include an application for a charging order or any other appropriate method of enforcement.
Then in the next paragraph they say if the court does grant judgement, the details of that judgement will be entered on the Register of County Court Judgements, Orders and Fines etc.
There is a section on the next page entitled "proposals" where they say they may be able to accept less than the sum outstanding in settlement.
Just wondering if people can give me some advice on this. I would very much like to get rid of this, certainly don't want a CCJ and am trying to tidy my credit up with looking to get a house in the not too distant future, but whilst better off financially I'm not exactly loaded either.
Thanks for any replies that come my way
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