Cabot Letters

[Woll]

Hi, Just need some advice.

I have had ongoing letters from Cabot. Somehow I ended up paying them a monthly fee via DD (which they subsequently was a debt they bought off a sister company. Which they have no proof or recollection of setting up. Interestingly none of the debt reduced). Tis is a side matter.

I had 2 debts with credit card companies, I live in the Uk. I complained to them earlier this year and they have sent me letters providing a history of the debts including the original credit agreements with the credit card companies (which I did pay for a number of years). I was blacklisted on my credit file by the card companies and the debt was sold on.

So what happens next? Do I have to pay or can I can continue to push back?

Once you get blacklisted by the credit card company isn't that the end of the process? This as been going on for a couple of years and nothing has happened to date apart from letters and calls.

Thanks in advance

[jaguarsuk]

Okay, so they have sent credit agreements, but do those agreements refer to other terms which they haven't sent?

Also, have they been able to provide Notices of Assignment and Default Notices?

[Woll]

Apologies I don't understand the full terminology. They have sent copies of the original agreements with the card company's and copies of corresponding letters to myself. Nothing else, they have put things on hold and asked me to contact to pay. It is from the complaints department, I have pushed back and said I don't have any agreements with cabot.

[jaguarsuk]

Apologies I don't understand the full terminology. They have sent copies of the original agreements with the card company's and copies of corresponding letters to myself. Nothing else, they have put things on hold and asked me to contact to pay. It is from the complaints department, I have pushed back and said I don't have any agreements with cabot.

Okay, so it seems you might not understand what has happened, but if you do this is not meant to be patronising and just to make sure we're on the same page.

You had credit cards and stopped paying them, the credit card company sold the debt to Cabot and now they own the debt, plus all the rights to enforce it.

And when you say you paid them a monthly fee, you were actually paying off some of those debts each month. By cancelling that payment Cabot have then started to chase you for what's left owing. The debt should have reduced if only slightly depending on how much you were paying.

You have said in post #1:

they have sent me letters providing a history of the debts including the original credit agreements with the credit card companies

This is because you originally entered into an agreement with the credit card companies, but for Cabot to enforce those agreements they need to prove they own the debt as well. That's where a notice of assignment comes in, when it was sold to them the credit card company should have sent you a letter to tell you they sold it and Cabot should be able to send you a copy if you don't recall ever receiving one.

Now, if they can evidence credit agreements, that default notices were sent and notices of assignment were sent to you then you owe the money and a court would find such.

However, just because they have sent a copy of the credit agreement it doesn't mean it's enforceable. For example if there is a part that details insurance and the terms of said insurance are separate, for it to be compliant they must also present you with those terms as well.

What you need to do will depend on what Cabot have in terms of documentation.

Being "black listed" only means you are not able to obtain any further credit, it doesn't mean the credit card companies don't want the repayment of the money. That's why they sell the debt on to companies like Cabot.