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I have just received a small claims summons from Cabot Financial and I'm looking for as much help in dealing with this as possible.
It states "on or around 11th May 2004 Welcome Finance entered into a loan agreement (the Agreement) within the meaning of Section 189(1) of the consumer credit Act 1974 (the "1974" Act) with the defender in respect of loan reference number 1250077. Welcome Finance granted the defender credit on this account subject to the defender maintaining an agreed repayment plan. On 10 th October 2012 the defender defaulted in payment on the agreement. On 25th June 2013, Welcome Finance assigned the debt to Cabot Financial (uk) Limited. The last payment to account was made on 15tg May 2012.
The defender has not maintained the agreed repayments. There remains a balance outstanding due and resting owing to the Pursuers by the Defender as at 18th August 2016 of £2,873.55 which is the sum sued for.
Any help of what to do would be greatly appreciated.
Thanks
It states "on or around 11th May 2004 Welcome Finance entered into a loan agreement (the Agreement) within the meaning of Section 189(1) of the consumer credit Act 1974 (the "1974" Act) with the defender in respect of loan reference number 1250077. Welcome Finance granted the defender credit on this account subject to the defender maintaining an agreed repayment plan. On 10 th October 2012 the defender defaulted in payment on the agreement. On 25th June 2013, Welcome Finance assigned the debt to Cabot Financial (uk) Limited. The last payment to account was made on 15tg May 2012.
The defender has not maintained the agreed repayments. There remains a balance outstanding due and resting owing to the Pursuers by the Defender as at 18th August 2016 of £2,873.55 which is the sum sued for.
Any help of what to do would be greatly appreciated.
Thanks
