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Originally posted by Mackem View Post
Hello everyone,
Since 2018 I have been paying six different companies unsecured loans for an agreed £5 monthly payments.Over this time the debt has been passed on to different collectors.
Five of the companies have since been happy with having no contact for a future review form.
How ever , Cabot being one of them since taking over, kept sending me letters saying I had to fill in a new review form. I first I sent them a letter saying that I was carrying on with my original agreement of £5 and that circumstances haven’t changed.
Since then , I’ve continued to pay £5 per month ignoring quite a lot of letters during during a 3year period to date from Cabot stating if I paid off the loan amount or accepted reduced amount to clear the loan ( in big black capitals which looked quite worrying)then the letter filtered down to the bottom ,saying if I couldn’t meet what was offered to continue paying the agreed amount of £5 which I did.
Now I’ve received a letter stating I have 30 days to complete my review form, saying my current payment plan is £5 stating that it is temporary arrangement based on my situation at that time.Going on to say they need to check my payments are still affordable.
They also want to make sure I’ll not be in debt longer than I need to be.This is a chance to see if there are any other options to help me clear this balance sooner.
The bottom line on the letter now says ,
Your review is due now ( big black capital letters) , we will keep trying to contact you in the meantime by phone , letter, email or text to complete this.
I know it’s a bit long winded ( my apologies)
so my question is ,
if I ignore it like the other letters over the last 3years , what action will or can they take next against me ?
Hello everyone,
Since 2018 I have been paying six different companies unsecured loans for an agreed £5 monthly payments.Over this time the debt has been passed on to different collectors.
Five of the companies have since been happy with having no contact for a future review form.
How ever , Cabot being one of them since taking over, kept sending me letters saying I had to fill in a new review form. I first I sent them a letter saying that I was carrying on with my original agreement of £5 and that circumstances haven’t changed.
Since then , I’ve continued to pay £5 per month ignoring quite a lot of letters during during a 3year period to date from Cabot stating if I paid off the loan amount or accepted reduced amount to clear the loan ( in big black capitals which looked quite worrying)then the letter filtered down to the bottom ,saying if I couldn’t meet what was offered to continue paying the agreed amount of £5 which I did.
Now I’ve received a letter stating I have 30 days to complete my review form, saying my current payment plan is £5 stating that it is temporary arrangement based on my situation at that time.Going on to say they need to check my payments are still affordable.
They also want to make sure I’ll not be in debt longer than I need to be.This is a chance to see if there are any other options to help me clear this balance sooner.
The bottom line on the letter now says ,
Your review is due now ( big black capital letters) , we will keep trying to contact you in the meantime by phone , letter, email or text to complete this.
I know it’s a bit long winded ( my apologies)
so my question is ,
if I ignore it like the other letters over the last 3years , what action will or can they take next against me ?
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