Help! My account will be placed with a solicitor in 7 days

[Flappingnow]

Hello everyone,

I have buried my head and ignored all letters from Cabot for about 3 years. I owe 979 on an old credit card. I have attached a copy of the letter I received today. I have no idea where to start and the whole thing has been a main source of anxiety for me since loosing my job 3 years ago. Any advice would be much appreciated as I have no idea what to do next and searching online is very confusing.

Thanks in advance.

[Amethyst]

Good Morning.

No panic, that seems to be a letter before a letter of claim . once with the solicitors ( Mortimer Clarke most likely ) they will have to send a formal pre action letter of claim which you can respond to asking for further information and documents regarding the debt.

Who was the credit card with?

Do you recall when you opened the account?

Did it default 3 years ago? or longer ago and Cabot have owned the debt for 3 years ?

Do you have any other debts? Have you looked at your income/expenditure and worked out what you might be able to offer to pay monthly should it be required?

How important to you is your credit file? and does this show on there as a default, and if so, what date was the default ?

Is risking a CCJ on your credit file and the judgment register for 6 years something you are fine with, or are you thinking of applying for a mortgage or job in financial services in the next few years ?