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I apologise in advance if this is the wrong place to ask but I would like advice.
I hope someone can help.
In 2005, I took out a credit card with Lloyds TSB. Due to a change in financial income, I stopped paying Lloyds in 2014. Stupidly, after getting numerous threatening letters by Cabot, I paid them a nominal £5 a month from 2017 until around May 2020 when I ceased payments. So it’s not statute barred.
Fast forward, yesterday I received a letter from Cabot stating my account is being passed to their internal solicitors, Mortimer Clarke. They will be writing toy be in the next 7 days. From what I have read online, they seem to like going down the CCJ route, which is what I want to avoid. The amount owed is around £3,300 of which I can’t afford. I’m struggling to make ends meet as it is. I am preempting things and was wondering if I can been given advice on what I should do? Should I wait and see if should I start asking for the relevant documents to be sent (such as the original credit agreement and default notice, etc)? I am new to this so I apologise in advance for my naivety.
I hope someone can help.
In 2005, I took out a credit card with Lloyds TSB. Due to a change in financial income, I stopped paying Lloyds in 2014. Stupidly, after getting numerous threatening letters by Cabot, I paid them a nominal £5 a month from 2017 until around May 2020 when I ceased payments. So it’s not statute barred.
Fast forward, yesterday I received a letter from Cabot stating my account is being passed to their internal solicitors, Mortimer Clarke. They will be writing toy be in the next 7 days. From what I have read online, they seem to like going down the CCJ route, which is what I want to avoid. The amount owed is around £3,300 of which I can’t afford. I’m struggling to make ends meet as it is. I am preempting things and was wondering if I can been given advice on what I should do? Should I wait and see if should I start asking for the relevant documents to be sent (such as the original credit agreement and default notice, etc)? I am new to this so I apologise in advance for my naivety.
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