Scotland Cabot 21 day SCD letter

[TherealMVP]

Hi, I have received a letter with red writing on the envelope from Cabot advising that I have 21 days remaining from 18/12 threatening my account to be passed to solicitors for a 'letter before action' looking for a SCD (sheriffs* court decree) my current balance is 1199.48 however they state this will go up.

I bought something from overclockers in 2015 on Hitachi finance for 650gbp but lost my job and couldnt pay. I haven't responded to a single letter or phone call in the last 3 years about any debt. I'm wondering what my options are?

[Amethyst]

As this is quite a recent debt it is likely they will take it to the courts for a decree as the documents will be readily available. You should send a formal CCA request https://legalbeagles.info/library/gu...etter-example/.for a copy of the agreement and a request for a full breakdown of the debt ( sounds like it was a very high interest rate or there's been quite a few charges added) but to avoid court action negotiating a settlement is likely to be the most sensible option. You could ask for the info now and when it arrives negotiate settling ( at a discount) in full or by affordable instalments. When you write ask them to put the account on hold while you receive and check the documents.

[TherealMVP]

So the 21 days ends tomorrow and I haven't sent a CCA yet, should I phone them today and ask to settle for say £800? Or just send a letter and await a response.

[Celestine]

Send the CCA asap, but as Amethyst says, it is highly likely to compliant. The breakdown of how the debt grew could be useful information for negotiations.
The next step will be the receipt of an LBA from Cabot's Solicitors, then a court claim potentially.
If you are able to make a Full & Final settlement, then you could start lower than £800. If you need to do a payment plan it is likely to be higher amount to settle.*

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