What To Do If You Get A Nasty Letter or Phone Call From:
Financial is a debt purchasing company or debt collecting company listed
in the website of the DBSG
(The Debt Buyers and Sellers Group) and/or mentioned in consumer finance
forms. They have a legitimate function as debt collectors, but there
is some indication that some such companies (not necessarily Cabot Financial),
and especially the debt purchasing element, go a bit too far sometimes
and can make people's lives a misery when those same people are at their
most vulnerable. We do not suggest that they are acting outside the
law, but getting that letter or phone call is not exactly helpful to
you right now.
So the first thing
you must do if Cabot Financial is bothering you is not to panic
or despair. That's just what they want! They'd love you to
call their number and speak to their specially trained sales team for
'advice'. But once you do that you'll be suggestible to whatever they
tell you, instead of getting independent advice. While we always say
that you should keep an open dialogue with debt collectors, we would
recommend that you do so in writing only. This will prevent them 'railroading'
you into any action which is not in your best interests, as they so
love talking people into doing things on the spur of the moment. Of
course, they are only doing their job, but that's hardly a consolation
for you in the present situation.
Nor do we recommend
payday loans, which are generally prohibitively expensive; take out
a payday loan and you may be hearing from Cabot Financial more than
you are at present! We cannot recommend this type of loan.
A sensible option,
we would suggest, is a debt management plan or even an IVA - which is
designed to actually write off a large chunk of your unsecured debt.
But you would need to take advice on this and look at your income and
expenditure in detail. This option won't suit everyone. There's more
on this below.
Now you may be tempted
to get a payday loan which is an unsecured loan designed for the short
term. The only problem with these is that the interest rates are very
high. So we cannot recommend them, otherwise you may be getting even
more contact from Cabot Financial than you are already!
As an alternative
you could apply for a 'logbook loan' which many people
find a very handy option. It is actually a loan secured on your car,
except you get to keep the car and keep the cash as well! That's why
some people find it such a good idea, as it unlocks the equity in your
vehicle without taking away your means of transport (there's no need
to sell the car). To apply
for a logbook loan click here.
Yet another option
is a no credit-check guarantor loan. This is especially
useful because your own credit rating is not looked at; you must find
someone else willing to act as a guarantor for you such as a friend
or family member. This is an ideal solution if you're at the stage where
your credit profile has been downgraded by recent events, etc. So click
the following link for Unsecured Loans
that don't need you to be credit checked.
If you wanted to
try a debt management plan, then we provide a whole-of-market service,
with a number of debt management experts on our panel. So whatever your
circumstances, your application will find the plan for you, meaning
the optimum outcome for your situation. It also means
there are no minimum requirements for debt levels or income.
So apply for a debt management plan using the form below.
Registry. Consumer Credit Licence number 633327.
Also Known As: Cabot Financial (Europe) Ltd, Cabot Debt Collectors.
Address: 1 Kings Hill Avenue, Kings Hill, West Malling, Kent ME19 4UA
Telephone: 01732 524 705 (but do NOT phone Cabot Financial).
Fax: 01732 522374
Email: [user] @cabotfinancial.com
Extra Data: See
Get a free QuickCreditScore
check by applying
and the Truth About Your Debt
Ltd is a debt purchasing company which has bought your debt from the
original lender, often a bank (or in some cases another debt purchasing
company) for about a tenth or less of the original value and is trying
to get the full value from you.
So ask Cabot Financial
for a copy of the original contract when you took out your loan or credit
Data On Cabot Financial
to feedback in the various consumer forums Cabot Financial are very
aggressive with harassing people by telephone, or at least they were.
There are signs that they have quietened down a bit but around 2006
to 2008 they were actively using the telephone as a weapon of grievance
against people, even while writing to them and saying that they would
not phone them. It seems that they have also threatened to use the
telephone even when they know it is illegal to harrass using the telephone.
It's a Police matter when things get this far, really. I'm always
surprised how these people constantly expect to get away with it,
as if the law does not apply to them.
you have any information that you would like honest people to know
about Cabot Financial then send us an email in complete confidence and
we will try to corroborate it with the clowns involved.
be aware that figures entered into the Cabot Financial site (above)
need to be accurate by law, and to give the best service to you. It
is extremely important that you budget for all necessary expenditure
including rent or mortgage, council tax and utility bills, etc., and
any other necessary outgoings related to the upkeep of your household
and in relation to any specific circumstances which may apply to you or your household.
This website only collects data on behalf of debt management professionals,
from which it will receive affiliate remuneration for data collection
only and does not itself engage in any debt management services. Other
debt management options are available and may be more suitable. People
entering into an IVA or debt management will have this entered on their
credit profile and this may affect their ability to get credit in the
short term or even in the long term in some cases. It is free to apply
from this website; you will be given advice by debt management professionals
and a 'cooling off' period, by law, to decide whether or not the debt
management plan is suitable for you, and you should be aware that a
fee will be chargeable upon a successful arrangement, as with any commercial
transaction. Failure to meet the repayments on an IVA or any debt management
programme may result in serious consequences, including, but not limited
to, bankruptcy. Bankruptcies, CCJs and similar defaults will be entered
into a public register and will remain there for a statutory period
of not less than six (6) years.
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a look at the Insolvency Service's leaflet called 'In Debt', downloadable
of Debt Collectors
Cabot Financial website is part of DPC Registry website group. All rights
reserved. Complaints Against Cabot Financial debt collections agency.
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