Cabot offering 75% discount with no CCA

[Pup21]

I have an old £3000 debt from 2010 that was recently sold to Cabot. I have been paying token payments of £1 a month all this time since 2010. With it being sold I requested the CCA agreement in January which they have not produced.


I recently received a letter from Cabot stating: Although your Credit Card is unenforceable, the balance is still outstanding. We'd like to help you clear it with a 75% discount!


My question is, as it is unenforceable, can I offer a lower amount, what sort of figure are they likely to accept. I would rather pay a small amount and have the account closed for good and be free of it.


As this was so long ago it’s fallen off my credit score. If pay them will it change that? Will it show partial settlement?

Thanks in advance

[echat11]

Hi PUP21

Welcome to LB


a) If pay them will it change that?

If it's fallen off, there is nothing they can add.

b) Will it show partial settlement?

As above.

c) can I offer a lower amount, what sort of figure are they likely to accept.

Offer 5%, they would of paid pennies for the debt. Important to get the wording right, amend send the following template, make sure you write 'Without Prejudice' on it. Make sure you get Proof of Postage.

https://nedcab.cabmoney.org.uk/fullfinal.asp

[Pup21]

Hi ECHAT11,




Thank you very much for answering all my questions and for the link.

[Pup21]

Hi

I have received a reply to my 5% offer stating:

I am unable to accept your offer, however I can see that we have recently sent you offers confirming that we are able to accept 75% discount to close your account.

So I am not sure how to proceed.

[echat11]

Hi

I have received a reply to my 5% offer stating:

I am unable to accept your offer, however I can see that we have recently sent you offers confirming that we are able to accept 75% discount to close your account.

So I am not sure how to proceed.

I would maybe offer 7%, see if they accept, then leave it if they don't accept.
Let them come back to you. They know what you can afford.

They know there is a 'cost of living crisis'.

[Pup21]

I would maybe offer 7%, see if they accept, then leave it if they don't accept.
Let them come back to you. They know what you can afford.

They know there is a 'cost of living crisis'.

Hi ECHAT11

Should I send the new offer in the same format in the link above and send by letter, or would email be appropriate?

Thank you

[echat11]

Yes same format, email is fine.

[Pup21]

Hi,

So the second offer was also declined.

They said If settling the account isn’t an option right now, they would like to support with setting up a payment plan. Requested I fill out a budget planner. I told them I wouldn’t be doing this.
They then pointed me to deptplan. Now a while later they have emailed saying they need to hear from me to do budget planner and set up a payment and they may send an agent round to my house.

Not sure how to proceed.

Thanks in advance.

[echat11]

They can come around, but they have no powers at all. The Postman has more powers. Ignore them, but keep a diary.
They can try to collect the debt, but can't 'harass' you.