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Afternoon All
Received a letter from Cabot offering to reduce my £4000 debt to £1627.15. (Basically looks like they've given up recouping interest as I only pay £2 per month like my Santander loan). If I pay this amount, they will clear the account.
Now, the suspicious side of me says this seems a little too good to be true. I'm in a position where I can make a f&f payment and the allure of having one less DCA after me is very appealing. Moreover, can anyone direct me to/know of a letter template whereby I can get this agreement water tight so I know that the remainder of the debt isn't going to be passed on to another DCA. The letter from Cabot only states that credit reference agencies will be informed that on final payment, the account will state 'clear'.
As always, I ignore any telephone calls, and will only deal with written correspondence. According to the letter, I have 12 days to reply (which gives me til the 12th March).
Any advice is gratefully received - Toots
Received a letter from Cabot offering to reduce my £4000 debt to £1627.15. (Basically looks like they've given up recouping interest as I only pay £2 per month like my Santander loan). If I pay this amount, they will clear the account.
Now, the suspicious side of me says this seems a little too good to be true. I'm in a position where I can make a f&f payment and the allure of having one less DCA after me is very appealing. Moreover, can anyone direct me to/know of a letter template whereby I can get this agreement water tight so I know that the remainder of the debt isn't going to be passed on to another DCA. The letter from Cabot only states that credit reference agencies will be informed that on final payment, the account will state 'clear'.
As always, I ignore any telephone calls, and will only deal with written correspondence. According to the letter, I have 12 days to reply (which gives me til the 12th March).
Any advice is gratefully received - Toots
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