Cabot Financial - making me so anxious!

[Guest]

I hope you can help me!

I have had many calls this past month (unanswered) from Cabot. They have also sent me an email with a settlement offer of £900. I was only given a few days to accept the offer. The original debt was for just over £3000 and my last payment or acknowledgement on the account was 30/09/14. Exactly 6 years at the end of next month.

The debt relates to a Tesco credit card. I had 3 credit cards, Virgin, Barclays and Tesco to pay my way through a long and messy divorce that went on for 3 years.

I lost my home in the divorce as my ex husband earned in excess of £70k a year, and I couldn't afford the mortgage criteria on my wage alone.

We had only purchased in 2010 so there was no equity.

At the time I was a working single Mom, but able to pay the crefit cards. I then had an unfortunate accident that left me permanently disabled.

I lost my job (I had just been promoted!). I was medically retired and told I will never work again. I hadn't been at the new company long enough for any payoff.

So suddenly, I was a single parent on disability benefit and I couldn't pay the credit cards.

Anxiety, embarrassment and pride stopped me calling them to explain. Then pain/opiate medications etc prevented me being able to handle my own financial affairs for a long while. My oldest Son started to look after my direct debits and make sure my benefits paid essential bills etc. He was only 17.
I still feel embarrassed that it came to that.

Although Cabot have emailed and offered me a settlement of £900 down from just over £3000, I cannot afford it and haven't acknowledged the email.

I am on disability benefit. The housing element of my benefits is £260 short of my actual rent, so much of my benefit pays for my rented bungalow! I have next to nothing for food after my bills. My sons are now independent.

Are Cabot likely to make this a CCJ with only a month to go before the 6 years are up, do you think? Is there time for them to do that? Particularly given the current global situation?

I feel sick with worry and haven't really slept since the email a couple of days ago.

Also, the other credit cards that have already come off my credit file, (no defaults showing for them) are:
Just over £5000 - Virgin Money (February 2014 was last payment)
Just over £8000 - Barclaycard
(April 2014 was last payment)

Will these now be statute barred? Or will they be able to make these become CCJ's?

I have no realistic way of ever paying these debts off. My mental health is really suffering as since the Cabot phone calls started last month, I'm on edge all the time. I use a wheelchair, when the door knocks, I freeze. All my curtains are drawn so no-one can see in. It's ridiculous :/

Please can you help advise me asap?

[pt2537]

I hope you can help me!

I have had many calls this past month (unanswered) from Cabot. They have also sent me an email with a settlement offer of £900. I was only given a few days to accept the offer. The original debt was for just over £3000 and my last payment or acknowledgement on the account was 30/09/14. Exactly 6 years at the end of next month.

The debt relates to a Tesco credit card. I had 3 credit cards, Virgin, Barclays and Tesco to pay my way through a long and messy divorce that went on for 3 years.

I lost my home in the divorce as my ex husband earned in excess of £70k a year, and I couldn't afford the mortgage criteria on my wage alone.

We had only purchased in 2010 so there was no equity.

At the time I was a working single Mom, but able to pay the crefit cards. I then had an unfortunate accident that left me permanently disabled.

I lost my job (I had just been promoted!). I was medically retired and told I will never work again. I hadn't been at the new company long enough for any payoff.

So suddenly, I was a single parent on disability benefit and I couldn't pay the credit cards.

Anxiety, embarrassment and pride stopped me calling them to explain. Then pain/opiate medications etc prevented me being able to handle my own financial affairs for a long while. My oldest Son started to look after my direct debits and make sure my benefits paid essential bills etc. He was only 17.
I still feel embarrassed that it came to that.

Although Cabot have emailed and offered me a settlement of £900 down from just over £3000, I cannot afford it and haven't acknowledged the email.

I am on disability benefit. The housing element of my benefits is £260 short of my actual rent, so much of my benefit pays for my rented bungalow! I have next to nothing for food after my bills. My sons are now independent.

Are Cabot likely to make this a CCJ with only a month to go before the 6 years are up, do you think? Is there time for them to do that? Particularly given the current global situation?

I feel sick with worry and haven't really slept since the email a couple of days ago.

Also, the other credit cards that have already come off my credit file, (no defaults showing for them) are:
Just over £5000 - Virgin Money (February 2014 was last payment)
Just over £8000 - Barclaycard
(April 2014 was last payment)

Will these now be statute barred? Or will they be able to make these become CCJ's?

I have no realistic way of ever paying these debts off. My mental health is really suffering as since the Cabot phone calls started last month, I'm on edge all the time. I use a wheelchair, when the door knocks, I freeze. All my curtains are drawn so no-one can see in. It's ridiculous :/

Please can you help advise me asap?

Limitation on a credit agreement for a credit card runs not from the last payment, but from the expiry of the Default notice (Doyle v PRA Group)

[Celestine]

Thanks for joining and seeking some help, I am really sorry you have had such a tough few years.
February 14 and possibly April 14 may already be time barred depending on when the default notices were sent and expired. Totally unconnected to credit file, it is a letter the creditor has to send to give you a chance to remedy the default.
If you can find those default notices you would have a far better idea.
On a separate note, Cabot have a vulnerable client team who you should consider contacting if either of these escalate. Your circumstances would certainly qualify for special support, I seriously doubt they would issue claims under the circumstances, HOWEVER, given that timings are very close to limitation - proceed with caution, for contacting a creditor and acknowledging the debt does reset the six year clock.