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Hi Everyone 
I am a newbie and this is my first ever post - Please forgive me if I make any mistakes.
I would be extremely grateful if anyone could kindly offer me some help and advice with my current situation.
I have recently received mail from Cabot Financial - The first correspondence I received was an envelope containing several different letters, all with different dates in the same envelope. In this envelope was a "welcome to Cabot" letter dated 19/10/2015 which stated they had bought the account I held with Capital One on 24/09/2015 and their records showed I owed £592.82 - A letter dated 19/10/2015 on Capital One headed paper, saying that "I am writing to inform you that Capital One sold your account to the Cabot Credit Management Group on 24/09/2015 - A information print out that says "This letter acts as notice of assignment of your account to Cabot Financial UK - A general account letter stating that I need to call to arrange payment.
Following the above mentioned correspondence I regularly received other letters simply stating" you need to contact us now to arrange payment".
This is the bit where I am PANICKING like crazy :fear:I received a letter from Cabot on 14/01/2016 stating that as they have not heard from me, they are referring my account to Mortimer Clarke Solicitors - Within days I received a letter from Mortimer Clarke Solicitors stating that they are going to be filing for a CCJ within the next few weeks :scared:
I have no clue on what to do about this and I would be very grateful if anyone would be able to advise me on what to do next please.
The Capital One account in question was taken out in 2007 and was defaulted on in 2009/2010 when my husband & I was dealing with crippling financial difficulties which was caused by us having to close down our business. This regretfully left us both defaulting on many of our financial commitments at the time, leaving us both in heaps of debt :ballchain:
Since loosing our business I have been unemployed due to health reason and suffering with anxiety & depression. We are currently living solely off my husbands wage which sadly isn't enough to cover our current financial obligations - Our Income & Expenditure list that we have drawn up to help us deal with our creditors, clearly shows we we are in trouble and have MINUS £280 each month
I'm really confused as Capital one must have kept the account open for all these years as I was receiving emails telling me my statements for the month were ready to view right up until a few months ago, but I did not log into look and I have not made a payment to them or made any acknowledgement of the account/debt to anyone since 2009/2010 .... I have been advised by a friend that the debt might even be statue barred due to time length, so I don't know what action to take next?
Are they just scare mongering to get me to make contact?? Are they really going ahead with the CCJ application ?? Do I make an offer of a token payment ?? or do I hang tight & do nothing ?? Arghhhhhh Panaking
:behindsofa:
JUST A QUICK UPDATE
Some more info for everyone - As I'm wide awake at this ungodly hour and cant sleep due to being terrified and worried sick about this whole debarcle - I have just ripped the house apart and found an old Capital One file with some of my old letters in and I have just discovered that......
*Account Was Opened on : 11/07/07
*Last Payment Made was on : 07/10/10
*Letter from Capital One containing a sentence stating Notice of Default served under section 87 (1) of the consumer credit act 1974 on : 01/02/11
*Letter from Capital One containing a sentence stating your Capital One account is now officially in default on : 06/03/11
*Received a letter from Cougar Financial Services on 10/03/11
*Received a letter from Power2contact on 24/03/11
*Received a letter from Cougar on 13/04/11
*Received a letter from Cap Quest Debt Recovery on 07/06/11
Cap Quest Debt Recovery on 17/06/11
Cap Quest Debt Recovery on 28/06/11
Cap Quest Debt Recovery on 08/07/11
Cap Quest Debt Recovery on 22/07/11
*Received a letter from Wescot Credit Services on 06/12/11
Then Ive heard nothing until receiving the previously mentioned letters from Cabot and Mortimer Clarke.
I am a newbie and this is my first ever post - Please forgive me if I make any mistakes.
I would be extremely grateful if anyone could kindly offer me some help and advice with my current situation.
I have recently received mail from Cabot Financial - The first correspondence I received was an envelope containing several different letters, all with different dates in the same envelope. In this envelope was a "welcome to Cabot" letter dated 19/10/2015 which stated they had bought the account I held with Capital One on 24/09/2015 and their records showed I owed £592.82 - A letter dated 19/10/2015 on Capital One headed paper, saying that "I am writing to inform you that Capital One sold your account to the Cabot Credit Management Group on 24/09/2015 - A information print out that says "This letter acts as notice of assignment of your account to Cabot Financial UK - A general account letter stating that I need to call to arrange payment.
Following the above mentioned correspondence I regularly received other letters simply stating" you need to contact us now to arrange payment".
This is the bit where I am PANICKING like crazy :fear:I received a letter from Cabot on 14/01/2016 stating that as they have not heard from me, they are referring my account to Mortimer Clarke Solicitors - Within days I received a letter from Mortimer Clarke Solicitors stating that they are going to be filing for a CCJ within the next few weeks :scared:
I have no clue on what to do about this and I would be very grateful if anyone would be able to advise me on what to do next please.
The Capital One account in question was taken out in 2007 and was defaulted on in 2009/2010 when my husband & I was dealing with crippling financial difficulties which was caused by us having to close down our business. This regretfully left us both defaulting on many of our financial commitments at the time, leaving us both in heaps of debt :ballchain:
Since loosing our business I have been unemployed due to health reason and suffering with anxiety & depression. We are currently living solely off my husbands wage which sadly isn't enough to cover our current financial obligations - Our Income & Expenditure list that we have drawn up to help us deal with our creditors, clearly shows we we are in trouble and have MINUS £280 each month
I'm really confused as Capital one must have kept the account open for all these years as I was receiving emails telling me my statements for the month were ready to view right up until a few months ago, but I did not log into look and I have not made a payment to them or made any acknowledgement of the account/debt to anyone since 2009/2010 .... I have been advised by a friend that the debt might even be statue barred due to time length, so I don't know what action to take next?
Are they just scare mongering to get me to make contact?? Are they really going ahead with the CCJ application ?? Do I make an offer of a token payment ?? or do I hang tight & do nothing ?? Arghhhhhh Panaking
:behindsofa:
JUST A QUICK UPDATE
Some more info for everyone - As I'm wide awake at this ungodly hour and cant sleep due to being terrified and worried sick about this whole debarcle - I have just ripped the house apart and found an old Capital One file with some of my old letters in and I have just discovered that......
*Account Was Opened on : 11/07/07
*Last Payment Made was on : 07/10/10
*Letter from Capital One containing a sentence stating Notice of Default served under section 87 (1) of the consumer credit act 1974 on : 01/02/11
*Letter from Capital One containing a sentence stating your Capital One account is now officially in default on : 06/03/11
*Received a letter from Cougar Financial Services on 10/03/11
*Received a letter from Power2contact on 24/03/11
*Received a letter from Cougar on 13/04/11
*Received a letter from Cap Quest Debt Recovery on 07/06/11
Cap Quest Debt Recovery on 17/06/11
Cap Quest Debt Recovery on 28/06/11
Cap Quest Debt Recovery on 08/07/11
Cap Quest Debt Recovery on 22/07/11
*Received a letter from Wescot Credit Services on 06/12/11
Then Ive heard nothing until receiving the previously mentioned letters from Cabot and Mortimer Clarke.
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