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Ash
Ash, Solicitor
Category: Law
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Experience:  Solicitor with 5+ years experience
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Cabot bought an old debt from Lloyds Bank a few years

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Hello, Cabot bought an old debt from Lloyds Bank a few years ago that relates to an old bank loan from many years ago, I have been paying them £1.00 a month and have been been for some years now(they have acknowledged this agreement by letter) but they keep harassing me to settle the debt of £9K(their figure). Now their solicitors Weightmans have sent me a letter threatening court action. I have no idea whether their figures are even correct? I am concerned about this latest letter re court action, is this debt legally enforceable? I would like to find that out.
I am worried about this latest letter threatening court action.
Cabot sent me a letter a few months ago acknowledging the £1.00 agreement, yet they persist with harassing letters. Can you please advise?
Thanks,
Simon
Submitted: 2 years ago.
Category: Law
Expert:  Ash replied 2 years ago.
Hello my name is ***** ***** I will help you with this.
Did they say the £1 a month was conditional upon anything?
Customer: replied 2 years ago.
I don't want to contact Cabot direct as they are quite aggressive with harassing tactics. I pay them a cheque for £1.00 a month which they have previously acknowledged that agreement with a statement. I would like to find out if the debt is legally enforceable, I pay £1.00 a month by cheque every month and post it, never missing a month. I am concerned about the latest letter from weightmans solicitors threatening court action/CCJ.
I just don't have £9k and I wonder if that figure is even correct?
Please advise me of what I can do. Can this debt be written off? It Is from over 10 years ago.They have acknowledged £1.00 a month on a statement a few months ago but they persist in sending demanding letters and now a letter from Weightmans regarding court action threat.
I am concerned.
Customer: replied 2 years ago.
No not to my knowledge, I am in work now so my paperwork is at home. But no conditions that I know of. I Don't talk to them at all and don't want to as they are aggressive, I just send them a cheque every month for £1.00.
Thanks Alex
Expert:  Ash replied 2 years ago.
Sadly it cant be written off. Debts can be written off over 6 years where they have not had payment. Here although the debt is over 6 years old you have been paying £1 a month so the 6 year rule clock starts from your last payment.
Again in terms of the £9000 you can ask them for a statement. By law they should be sending a statement every year in any event. You ca ask them for this. Even if they do try and take you to Court you can defend it on the basis you have an agreement for £1 a month and have not broken it.
You should consider complaining to the Ombudsman. They are at: www.financial-ombudsman.org.uk - who can investigate this matter for you free.
Can I clarify anything for you about this today please?
Alex
Customer: replied 2 years ago.
Thanks Alex, I would like to talk to you on the phone about this but unfortunately I am in work right now so a bit awkward.
Expert:  Ash replied 2 years ago.
Ok. I have given an additional offer so whenever is good for you, let me know.
Ash and 2 other Law Specialists are ready to help you
Customer: replied 2 years ago.
Thank you Alex
Expert:  Ash replied 2 years ago.
No problem

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