New Member... having trouble with Cabot Financial/Restons Solicitors

[CasperBolt]

Hi,

I'm in need of some advice as an old debt has come back to haunt me!

I had a loan around 9 years ago with Sainsburys. I defaulted after about 18 months and it was sold onto Cabot Financial. I set up a payment plan and paid regularly for a couple of years before it became a bit stop start with my payments... the last one was about 2 years ago.

Today I was contacted by Restons by letter demanding payment by the 3rd of October or they would begin court proceedings.

Now I owe this money (£7,766.11) and I'm not doubting that. It should have been paid long before now and I kick myself every day for the mess I made of things when I was younger. I haven't replied and thought I'd join and ask for advice? If I should contact them and arrange a payment plan then so be it, I have no problem with that. But, I was curious, can I get out of it? And if so, would one of you be kind enough to guide me?

This debt is no longer on my credit report but will be very soon if I don't do something about it!

Thankyou.

[brei2013]

Re: New Member... having trouble with Cabot Financial/Restons Solicitors

Hi,
In my experience these people threaten court action to motivate you into doing something.In most cases I've found that they will accept an offer of payment subject to a "Statement of Affairs",which you may or may not want to provide.Other than that I would advise a phone call to National Debtline on 0808 808 4000.Its a free phone number and service.They will advise you of the best action.

[Kati]

Re: New Member... having trouble with Cabot Financial/Restons Solicitors

Hi [MENTION=53285]CasperBolt[/MENTION],

would you be able to arrange a payment plan with Restons?? Or a f&f settlement?? Unfortunately, as you paid towards it two years ago (??) it will not be Statute Barred :tinysmile_cry_t:

[CasperBolt]

Re: New Member... having trouble with Cabot Financial/Restons Solicitors

Yeah arranging a payment plan is what I'll have to do! My fault entirely but I thought I'd see what you guys say first! Thanks for your help Kati

[FlamingParrot]

Re: New Member... having trouble with Cabot Financial/Restons Solicitors

Hi,

I'm in need of some advice as an old debt has come back to haunt me!

I had a loan around 9 years ago with Sainsburys. I defaulted after about 18 months and it was sold onto Cabot Financial. I set up a payment plan and paid regularly for a couple of years before it became a bit stop start with my payments... the last one was about 2 years ago.

Today I was contacted by Restons by letter demanding payment by the 3rd of October or they would begin court proceedings.

Now I owe this money (£7,766.11) and I'm not doubting that. It should have been paid long before now and I kick myself every day for the mess I made of things when I was younger. I haven't replied and thought I'd join and ask for advice? If I should contact them and arrange a payment plan then so be it, I have no problem with that. But, I was curious, can I get out of it? And if so, would one of you be kind enough to guide me?

This debt is no longer on my credit report but will be very soon if I don't do something about it!

Thankyou.

No, it won't be on your credit report regardless of what you do. You can only have ONE default per account, and it should drop off 6 years later. If you defaulted, say, 7 years ago, it won't reappear, ever.

[FlamingParrot]

Re: New Member... having trouble with Cabot Financial/Restons Solicitors

Today I was contacted by Restons by letter demanding payment by the 3rd of October or they would begin court proceedings.

This is a letter before action and needs a suitable response.

Now I owe this money (£7,766.11) and I'm not doubting that. It should have been paid long before now and I kick myself every day for the mess I made of things when I was younger. I haven't replied and thought I'd join and ask for advice? If I should contact them and arrange a payment plan then so be it, I have no problem with that. But, I was curious, can I get out of it? And if so, would one of you be kind enough to guide me?

Not 'get out of it' as such but, since it was taken before April 2007, it could well be unenforceable if they can't supply you with a copy of the agreement or there wasn't a proper agreement in the first place. :grin: I'd suggest sending a CCA request to Cabot a.s.a.p. and then respond to Restons as below. Note the paragraph that refers to your CCA request, enter the date you send the request to Cabot here, it can be the same day.

The CCA request needs the £1 fee but no fee required with the letter below to Restons. Sign both digitally and send them recorded delivery. :thumb:

It's important to respond as soon as possible as Restons DO issue claims.

Depending on what they come up with in response to your CCA request, if it turns out to be enforceable, then you can think of setting up a repayment plan.

Dear Sirs,

Ref: xxxxxxxx

Thank you for your letter dated xx/xxxx/2014. As the letter contains a threat of litigation, it is being treated as a formal letter before action. As such, I refer you to paragraph 1 of the Practice Direction Pre-Action Conduct, which states the purpose of such a letter is to “enable the parties to settle the issues between them” and to encourage the parties to “exchange information”.

Paragraph 2.2 (1) of Annex A states you have an obligation to “list the essential documents on which the Claimant intends to rely”. I could not identify such a list in your letter, please list the documents so I can see your case against me and request copies of anything that I may need.

Paragraph 3.2 (3) of Annex A allows me to “request further information to enable me to provide a full response”. My request is a request for documents as the information I require would come from those documents. Paragraph 5.1 of Annex A states that you should “provide the documents requested within as short a period of time as is practicable or explain in writing why the documents will not be provided”.

I require copies of the following:

1. The original credit agreement;
2. The Default Notice;
3. The Termination Notice;
4. The Notice of Assignment;
5. Statements of account;

These documents would be expected to be supplied if proceedings were issued and would likely be in your possession if you were issuing a claim. If you consider that there is difficulty in providing a copy of a document, please identify that document and the reason. Additionally, there is a duty to supply documents under the Consumer Credit Act 1974. A request has been made under s.77 on xx/xxxx/2014 and I am awaiting a response.

I shall being able to provide you with a full response to your letter within 14 days of receipt of the documents listed above and also reserve the right to refer to the contents of this letter if proceedings are issued without first providing copy documents to me.

Yours sincerely,

[sloane82]

Re: New Member... having trouble with Cabot Financial/Restons Solicitors

Did you take out any PPI on your credit card at all?.