Overdraft sold to Cabot

[fairhead]

Hi,

 

I've had a letter of assignment from Cabot for a overdraft which defaulted 2 years ago. It was an old student account turned graduate account that I stopped repaying when it went from interest free to £90/month.

 

I'd just like to know what, if any, my options are? I calculated that about a third of the balance is made up of interest and charges. I disputed these with the FOS recently and they didn't uphold my case despite proof of them causing financial hardship.

 

I can't make any payments atm because I'm out of work. Are Cabot likely to serve a CCJ claim on me quite quickly or do they hold off for a while? This won't be statute barred for another 3 and half years so I doubt they'll wait that long.

 

Is ignoring them the best policy in the interim, or do I tell them I'm broke and unemployed, or just go on the defensive and start requesting all the documents etc?

 

I'm aware overdrafts aren't covered under the CCA so they don't have to provide any agreement, is that right? What about the terms and conditions under the CCA 2006?

 

Sorry, so many questions. I just don't know how best to approach this.

 

Thanks

[dx100uk]

is this your Lloyds one in the other thread

if so

pers i'd sit on your hands

 

 

how much are they after

how much with interest is maladministration charges

[fairhead]

I'd rather not give the amount, I know debt collectors read all these forums.

 

But I worked out the o/d fees and interest charged makes up a third of the balance.

 

I've already complained about them phoning non stop but had no reply. Just the continued calls and texts all day long.

 

Would a 'prove it' letter help? Just to buy me some more time? Ignoring them isn't working.

[dx100uk]

Don't play secret squirrel won't help you

 

I'd let it run

[fairhead]

Don't play secret squirrel won't help you

 

I'd let it run

 

For how long? I've seen that they are very aggressive with regards to serving court claims. A CCJ isn't going to be ideal... but you reckon ignoring them is the best advice?

[dx100uk]

Well no they are not aggressive

Just issue 1000's a week hoping for default judgements

Don't ignore a clainform mind

 

But with the history you relate too

They'll have a hard time with your case

So prob won't bother

 

Keep us informed

 

Just remember

They are not bailiffs

And have no greater legal powers than you or i