Cabot Finanical - Citi Cards

[Tya]

Hi All,

I hope someone can give me some advice on what is the best course of action to take.

Today, I received a letter from Cabot Finanical re a debt that they have bought from Cit. Yes, the debt is mine, as I had an agreement in place with Citi to pay £15 per month, for which I did... Then they told me last year in May 2009, that they will no longer accept the payment of £15 and will be selling my debt onto a third party.

My last payment was paid in May 2009 and on the 22nd May 09 I was issued with a default on my credit file. ( They had already told me this would happen if I ould not pay the full balance).

Anyway, its been more than a year since I've heard anything about this debt, and now Cabot is involved sending me a welcome letter and stating that they have bought the debt from Citi and that all paymenst be made to them.

Also, included in the envelope was a 'so called' letter from Citi stating that they had now assigned the debt over to cabot. The letter does not look like an original Citi letterhead and the word CITI is black, with no ® beside it as shown on the orignial letters from Citi.

What should I do now? I made it quite clear to Citi that I wanted and had no problems making the payments, but they wanted more which I could not afford...

Should I wait for the next letter from Cabot, as I don't believe that the letter from Citi is genuine?

Also, I did get a SAR from Citi last year in June and all details are correct.

I need help..

THanks

Tya

[Tya]

Re: Cabot Finanical - Citi Cards

Can anyone give me some advice please?

[BillandBen]

Re: Cabot Finanical - Citi Cards

Hi

I think Citi have done a job lot as I've had the same.

Please can you scan up what you've had from cabot minus your details?
------------------------------- merged -------------------------------
Also... when was the card taken out and how much is the balance for

[Tya]

Re: Cabot Finanical - Citi Cards

Hi,

Thanks for getting back to me, here is the letter cabot sent me.

[Tya]

Re: Cabot Finanical - Citi Cards

Hi,

I did a balance transfer on the 16/07/07.

Tya

[BillandBen]

Re: Cabot Finanical - Citi Cards

Was the balance tranfer how you opened the card?

Can we please see the letter that supposidly come from Citi?

[Tya]

Re: Cabot Finanical - Citi Cards

Yes, the balance transfer was how I opened the card.

Attached is the letter supposedly from 'Citi'....

[Timed~Out]

Re: Cabot Finanical - Citi Cards

Watching with interest, I have an identical letter from Cabot and Citi. The last I had heard from Citi was that they were "collating the necessary documents".....back in Sep 2009! This was after a previous CCA request from Citi.

[Tya]

Re: Cabot Finanical - Citi Cards

How interesting Timed-Out.

Did you receive BOTH letters in the same envelope?

And why has Citi taken so long to sort things out?

Did you notice that that 'Citi' logo looks abit fake?

[Timed~Out]

Re: Cabot Finanical - Citi Cards

Yes - both letters in the same envelope and the Citi letter looks suspect to me, looks like something knocked up on a home PC somewhere! I am thinking of sending Cabot a CCA letter from this site with the £1 and see what comes back, surely if they now own this alleged debt, they will have all the correct and legal paperwork, wont they??

[Tya]

Re: Cabot Finanical - Citi Cards

Yes, but I was going to wait and see when the next letter would arrive...

Thats the main reason why I came on here asking about what I should do next. I'm sure there are others that have received the same thing?

I believe that is the right thing to do, and usually I would just go ahead and do so.

But I hate wasting my money and time sending letters to these idiots.

I might just wait and see what the next letter states, thats if they send one.

[Kafka]

Re: Cabot Finanical - Citi Cards

Please scan the default Notice. They can only demand the arrears for this, not the whole balance.

I do have a correct NoA from Citi from 2005/6, which is a much longer and more formal document than you have shown. Would you like me to scan this for you?

[Tya]

Re: Cabot Finanical - Citi Cards

Hi Kafka,

I have packed the default notice away. I received it last year from Citi.

The default notice is genuine and I am aware of it...

My issue is with cabot, and the 'false' looking so called letter from Citi.

Also, what do you mean by they can only ask for the arrears?

Oh, and yes please may I see your NOA, much appreciated.

[Kafka]

Re: Cabot Finanical - Citi Cards

A Default Notice demands the payment of the arrears or they will default the account. They can't (in law) demand full payment of the outstanding amount unless the account has been formally defaulted.

I attach a genuine Notice of Assignment from Citi in 2005, before it was sold on. Hope this helps.

[Tya]

Re: Cabot Finanical - Citi Cards

Hi Kafka,

Thanks for uploading this. I had a feeling that what was sent to me today was not correct.

Whne Citi defaulted me last year in May, it was because I could not afford to pay what they was asking from me as I was made redundant. Then they said I could no longer pay them and to wait for a third party to contact me.

But Citi never sent me a NOA, like you have posted on here.