stopped paying cabot!

[jobbie8]

Hello all, Im a newbie here. I've been reading lots of posts here for info. Heres my situation....

Peoples Bank cc from 1999, balance was around £900.
I've been on a payment plan for a good few years through DD. Every year they call and basically ask for more money. My payment was £28 a month. Im finding this too much now with the current climate, last month (Jan 2010) I panicked and canceled my DD. Im now getting phone calls all the time and when I do pick it up theres silence then cabot hangs up. Today I got a letter threatening to apply interest.

I had an old loan with Lombard Bank around the same time,(1998) around that time I fell into bad times, Lombard account went to 1st Credit I paid £10 a month to 1st Credit until last April when I was called asking for more money. I asked for proof that I owed the outstanding balance and they wrote it off within 2 days, even though I had been paying £10 a month.

Do you think I could do the same with Cabot? I owe £400 now.
There is no trace of Peoples Bank or Lombard on my credit file which is now very healthly. If I dont pay Cabot will it affect my credit file?
I would like to know where I stand for when they ring next.
Thanks for any advice.

[MIKE770]

Re: stopped paying cabot!

Hello all, Im a newbie here. I've been reading lots of posts here for info. Heres my situation....

Peoples Bank cc from 1999, balance was around £900.
I've been on a payment plan for a good few years through DD. Every year they call and basically ask for more money. My payment was £28 a month. Im finding this too much now with the current climate, last month (Jan 2010) I panicked and canceled my DD. Im now getting phone calls all the time and when I do pick it up theres silence then cabot hangs up. Today I got a letter threatening to apply interest.

I had an old loan with Lombard Bank around the same time,(1998) around that time I fell into bad times, Lombard account went to 1st Credit I paid £10 a month to 1st Credit until last April when I was called asking for more money. I asked for proof that I owed the outstanding balance and they wrote it off within 2 days, even though I had been paying £10 a month.

Do you think I could do the same with Cabot? I owe £400 now.
There is no trace of Peoples Bank or Lombard on my credit file which is now very healthly. If I dont pay Cabot will it affect my credit file?
I would like to know where I stand for when they ring next.
Thanks for any advice.

Welcome to Legal Beagles:-

Have you a copy of the agreement regarding Peoples Bank, also assignment notice debt now with Cabot?? for starters??? others will be along that info may help save time??.:beagle::beagle:IF not CCA Peoples Bank, it cost £1.00 P.O using letter on the Guide to unenforceable aggreements top of Page by Curley Ben anyway Curleyyyyy you around.?? DO NOT talk to them on the phone, everything in writing from now on, send CCA request post haste , "Recorded Delivery", they then have 12 + 2 days to respond, if not they are in default until they do, on receipt post copy up on here minus personal details, somebody will advise in non enforceable or not. Also have you had an annual statement from them?

[jobbie8]

Re: stopped paying cabot!

I have no documents from Peoples Bank and have never had any statement or any other document from Cabot apart from a "Welcome" letter and "you have not paid letter". I will CCA Peoples Bank today. Thank you!

Just Googled PB, does it exsit anymore in the uk??

[Kafka]

Re: stopped paying cabot!

Do Cabot claim to own the account? You haven't made this clear.

[MIKE770]

Re: stopped paying cabot!

I have no documents from Peoples Bank and have never had any statement or any other document from Cabot apart from a "Welcome" letter and "you have not paid letter". I will CCA Peoples Bank today. Thank you!

Just Googled PB, does it exsit anymore in the uk??

Peoples Bank was that not Provident, I remember the name??

[jobbie8]

Re: stopped paying cabot!

I thought Peoples Bank was a US company???

Cabot first said they are now acting on the debt instead of Peoples Bank. So I guess they own it now?

[MIKE770]

Re: stopped paying cabot!

I thought Peoples Bank was a US company???

Cabot first said they are now acting on the debt instead of Peoples Bank. So I guess they own it now?

You should have a notice of assignment from Peoples Bank also Cabot, have you received one, remember do not ring them.??

[jobbie8]

Re: stopped paying cabot!

I have a notice of assignment, saying Cabot have took over the bebt and all future dealings are to be made through them.
I think Peoples Bank Credit Card Company is long gone now, I cant find anything on them.

[MIKE770]

Re: stopped paying cabot!

I have a notice of assignment, saying Cabot have took over the bebt and all future dealings are to be made through them.
I think Peoples Bank Credit Card Company is long gone now, I cant find anything on them.

Then CCA CABOT for copy of agreement. You need proof of assignment from the original owner, you never know it might of been me??? Do you see my point telling you to pay me without proof???

[jobbie8]

Re: stopped paying cabot!

Thank you very much for the info. I will CCA Cabot first thing, I've had 9 calls from them in 2 days now. Havent answered them though.