Cabot and Belgard solicitors

Teaandcoffee

Hi - thank you for your last post. I didn't even think of asking for the deed of assignment until I read what you wrote so cheers for that.

Would appreciate you thoughts on their latest response please -

It is not within the remit of our office to supply you with monthly statements as the outstanding balance was charged off prior to our involvement with you. Interest ceased once the debt was charged off. Please find enclosed statement reflecting same.

We request that you forward the money due or alternatively forward your proposals.

alig123aileen

Send this letter to PIPPA PRENDERGAST COMPLIANCE OFFICER CABOT FINANANCIAL (see cabotfinancial.ie for address details). Make sure to send it by registered post.


Hi there

Send this letter and you are likely to hear no more.

Aileen

Dear Sir

I refer to your letter of XX/XX/XX. I have no contract with Cabot Financial and so will deal with MBNA only. Nor did I receive your Terms of Business letter or a letter from MBNA confirming that my alleged debt was being sold and seeking my explicit consent as is outlined in the Consumer Protection Code of the Financial Regulator. Nor did I receive or consent to a Deed of Assignment from MBNA to Cabot Financial. You are an unregulated entity and unless you can produce a copy of all of the above I intend to take a case to the Financial Regulator saying my rights were not safeguarded when MBNA a regulated firm transferred my personal details to another unregulated firm Cabot. I shall also take a case to the Data Protection Commissioner as you have incorrect personal data that is not up to date on me. You are formally advised to cease and desisit all communication with me by phone or letter until you have sent me the above.

Teaandcoffee

Thank you Aileen - much appreciated.

So far no sign of deed of assignment.

jlsmum

Hiya; I'm wondering if anyone can offer me advise regards a letter I just got from Cabot today. I do know that Debt collection companies such as these are not financially regulated. However, not sure where I stand. My debt was with 3 for a mobile phone bill of about €90; ......loong story short, I had to move to vodafone due to bad service and 3 cutting me off for no reason etc. I've so far paid over €200 to cabot financial.. I got a bill from 3 at one stage saying I owed €105.. then suddenly cabot tell me I owe €418.28.. I'm not going to pay this "made up debt" today I got a letter as I've been ignoring the phone calls and it says..

"If no payments are received to clear the outstanding balance, we will have no other option than to instruct our solicitors to obtain judgement against you in the relevant Court. Subsequent to this, we may instruct our Solicitors to register a judgement mortgage against your property. It will be necessary for you to pay the full amount if you wish to sell your property or apply for a remortgage. Interest will be added on at 8% per annum. We then have the option to arrange for a sheriff to call to your residence to reclaim any belongings you may have and put the funds collected towards this debt.

It is in your best interest to make payments to clear your account."

Yours faithfully
PRINTED NAME


Has anyone else experienced anything similar with this company ?

alig123aileen

Send this letter to PIPPA PRENDERGAST COMPLIANCE OFFICER CABOT FINANANCIAL (see cabotfinancial.ie for address details). Make sure to send it by registered post.


Hi there

Send this letter and you are likely to hear no more.

A

Dear Sir

I refer to your letter of XX/XX/XX. I have no contract with Cabot Financial and so will deal with Vodafone only. Nor did I receive your Terms of Business letter or a letter from Vodafone confirming that my alleged debt was being sold to Cabot Financial and seeking my explicit consent. Nor did I receive or consent to a Deed of Assignment of the alleged debt from Vodafone to Cabot Financial. I shall also take a case to the Data Protection Commissioner agains tVodafone and Cabot Financial as you have incorrect personal data that is not up to date on me. You are formally advised to cease and desisit all communication with me by phone or letter regarding the debt you allege is due and to refer the matter back to Vodafone. You are also formally requested to send me a statement of all premiums paid by me to Cabot in accordance with the Consumer Code of conduct. Yours sincerely XXX

jps9122

Hi, I've been dealing with this shower of SH*#T for the last 5 years. I stupidly acknowledged the debt when I received a call back then. Since that time I've been bombarded with letters & phone-calls despite paying them every month, at one point I even had an Eastern European gentleman on the phone threatening me. The latest letter received this morning states that this is my final warning, I am currently three weeks late with this months payment & have had no other communication with them. Is there anything I can do at this point having acknowledged the debt? I feel like this will go on forever, one of their staff told me that seventy five per cent of my monthly payment goes in 'administration' fees. Any advice would be appreciated.

omnithanos

jps9122 wrote: »

Hi, I've been dealing with this shower of SH*#T for the last 5 years. I stupidly acknowledged the debt when I received a call back then. Since that time I've been bombarded with letters & phone-calls despite paying them every month, at one point I even had an Eastern European gentleman on the phone threatening me. The latest letter received this morning states that this is my final warning, I am currently three weeks late with this months payment & have had no other communication with them. Is there anything I can do at this point having acknowledged the debt? I feel like this will go on forever, one of their staff told me that seventy five per cent of my monthly payment goes in 'administration' fees. Any advice would be appreciated.

If you've already paid off what you owed you shouldn't have any further call to be paying them. They buy up these debts on the cheap so if that's the case they've already gotten more out of you then they should have.

Teaandcoffee

Since my last post I received the Deed of Assignment.

This is were it gets interesting - nowhere in the body of the assignment does it say my name, address or the purported total of the debt they say I owe. I have read the assignment over and over so I am not mistaking.

Each page of the assignment has a serial type number at the end of the page but attached to the back of it is a random sheet of copier paper that anyone could print off with figure that I purportedly owed on the date the debt was sold.

Surely this could not leagally stand up in any Court room?

Fred Swanson

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dubscottie

In my own case the "bank" refused to talk to me a few years ago and I refuse to speak to this crowd.

They are the first of many companies that will be on your case. Expect tracing agents etc.

Also if you get anything in the post from then court related.. Phone the court. It turns out that one company had faked court documents in order to scare me into paying even although the bank had breached there contract and screwed me.. This was over €2000.

We need some sort of trading standards for Ireland like they have in they UK. Get rid of these cowboys.

nemo26

Teaandcoffee wrote: »

An interesting few days - I contacted AVANT and was told to contact Cabot direct as my debt had been sold to them. I asked them to put this in writing which they did.

I contacted Cabot who informed me that they only received a total amount due from AVANT and this is the amount they will continue to pursue. They also said monthly loan statements were out of their remit!

Should I take this directly to the data commissioner?

YES....also if debt is over 6 years send them the Statute of Limitation letter.

I can't believe they are still getting away with this. I hope everyone on this forum has written to their TD. These people need to be regulated ASAP.

Grab All Association

Whether you owed MBNA money or not more than 6 years ago

Neither confirm or deny any knowledge of the debt in writing or over the phone.

IGNORE THEM.

If they write to you DO NOT RESPOND, keep the letter(s) in case they bombard you with threats. You'll have evidence and can make a complaint to the Central Bank. AGAIN DON'T ACKNOWLEDGE THE DEBT

If they call you on the phone just say sorry I can't help you and hang up. Again keep a record of the time(s) and date(s) of the call(s)

DO NOT WRITE TO THEM TO ENQUIRE OR ACKNOWLEDGE THAT YOU OWE ANYTHING.

AS POSTED ON HERE DEBTS ARE OVER 6 YEARS OLD AND ARE STATUE-BARRED AND JUST BY OPENING YOUR MOUTH YOU COULD GET THESE DEBTS REACTIVATED. THAT WILL MEAN THE DEBT IS LIVE AGAIN AND THEY'LL HAVE AT LEAST ANOTHER 6 YEARS TO PURSUE YOU.

.

padneen

reddevildazz wrote: »

Hello all

Could somebody help me? In 2008 I got a car loan through GE Money. When I lost my job due to the recession I had a plan in place that for the first 6 months or so I was out of work GE Money would make those loan repayments.

While I was out of work I had to start caring for my grandmother and when the time was up on GE Money making the repayments I was unable to make them myself so I gave up the car.

The car went to auction and was sold for considerably less than what it was worth.

2 years later I received a letter in the post from GE Money saying I owed the remaining debt. As I was not working at the time I made an agreement with them that I would pay what I could.

A year later I was sent letters etc from this Cabot financial crowd saying that I owed them the money and to pay up or I was been brought to court (I am still getting these letters and phone calls to this day). I gave GE Money, now known as Pepper, a call and they said my debt had been sold to this Cabot crowd.

According to them I still owe upwards of €12000 . Since my grandmother died in 2013 I wasn't able to find work so I went back to college that August and finished in June of this year.

I am now on Jobseekers Allowance and trying to pay what I can but it's not enough for this Cabot crowd. I am still getting letters by them, a place called Belgard Solicitors and getting harassing phone calls.

Since my grandmother died I have been in treatment for depression and anxiety. I can't see a way out of this predicament and just want to find a way to settle this debt. Does anybody know if Cabot financial would accept a lower number to clear the debt. I'm at my wits end.

Any help or tips would be appreciated.

Thanks.

i don`t know if your still having problems with crowd of bastards but if you have not come to an arrangement with them you owe them nothing at all after six years this debt is statute barred if they haven`t take you to court, there`s a group on facebook called beat the bailiffs and banks i`ve used their letters to beat this unregulated company you`l will get templates of three letters on their page plus an estoppel they do work id also recommend a book by irish commedian aidan killian called dear plonker it has a lot of information check him out on youtube i hope this helps and happy days patrick collins

FalconGirl

I've just started making payments to this crowd for the last few months. I've requested a copy of a reducing balance with each payment which they are not acknowledging. My debt is about 15k and I'm paying €500 per month towards it. Where do I stand if I decided to not make payments on foot of them not supplying me what I require. I need to see the reducing balance to know where I stand and reconcile with my own accounts and for whatever reason they are not forthcoming in supplying it.

JigglyMcJabs

Just to add to the good advice so far in this thread, have no fear of the court threats, in the highly unlikely event that you're actually taken to court, the judge will be a lot more reasonable than this shower and once he makes a ruling, both sides are bound by it.

A judge has to make sure it's a legal and enforcable debt, the person taking the case has to prove that (in many cases they can't). The judge also has to look at the ability to repay and can only work within that ability, so someone on social welfare for example would probably be told to pay €10 or less a week.

In a nutshell, the only thing a debt collector can conceivably do to get a payment is to take you to court, they won't do that because it probably won't go their way (a debt collector is on shaky ground in the first place) and in the unlikely event that it does go their way, the ruling will commit them to accepting a smaller sum than they would want.

After a judge rules on a debt case and you keep up with payments, the debt collector is barred from chasing the debt or contacting you or adding any further interest or admin charges.

Fred Swanson

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jebi1717

You may not be aware but with recent legislation. Cabot and other lenders are now cover. all they need to do is apply.

So money lenders / Vulture funds can register and are covered under Central Bank of Ireland rules.

Form what I understand Cabot Financial applied and has been approved. (Regulated)

So what does that mean ?

my3cents

jebi1717 wrote: »

You may not be aware but with recent legislation. Cabot and other lenders are now cover. all they need to do is apply.

So money lenders / Vulture funds can register and are covered under Central Bank of Ireland rules.

Form what I understand Cabot Financial applied and has been approved. (Regulated)

So what does that mean ?

Just look at the thread title for your answer.

Cabot and Belgard aren't solicitors they are debt collectors.

So now they will infer that they are "Cabot and Belgard solicitors regulated by the Central Bank of Ireland". All they are doing is trying to show that they have legal status that they don't have.

jebi1717

While you are 100% correct in what has been said.

Things have changed since July 2015.

Solicitors are covered under the Law Society of Ireland, Self Regulated. but they have to be members.

Cabot have now been granted a status equal to other Lenders, (old term unregulated Money lenders), once they applied before the deadline of Oct 2015, it looks like is backdated to include all the loans/bad debts they bought.

Here is a response I Received from Consumer Protection Commission
" in relation to Cabot Financial (Ireland).
It is our understanding that Cabot Financial (Ireland) Ltd and Cabot Asset Purchases (Ireland) Ltd are part of the same group and are therefore regulated by the
Central Bank of Ireland as a credit servicing firm, however for clarification on this, we would suggest that you contact the Central Bank of Ireland directly.

Contact details for the Central Bank of Ireland are as follows:

1890 777 777 or

enquiries @ centralbank .ie."es @ centralbank .ie."

Fred Swanson

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jebi1717

Fred Swanson wrote: »

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Yes, but it could mean they could lodge the loan/debt amount with the ICB and this stays there for 5 years. even if they don't successfully bring you to court and win. so long as they follow the Central Bank Rules. This should help in relation to Avantcard / MBNA transfers to Cabot in future. But the older ones were a sham. Little or no paperwork, meetings between the two and wit the aim to totally mistreat borrowers.

Data Protection Act requests don't even cover these meetings / agreements about the sale of debts. All you would get is fairly general information.

For the first time, In my opinion, thanks to their greed and sloppy paperwork people might get a fair hearing. But it won't take long for them to get the right formula to buy these debts , so they can be processed into successful winning, by agreed repayments or court judgements.

Keeping my fingers crossed.

Fred Swanson

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jebi1717

Debt with Avantcard , would show a transfer over to Cabot. But if they are not registered then great news. the ICB record would be clear in 5 Years.

So happy days. no need to worry.. same situation applies ... just wait and agree nothing with Cabot etc.

Thanks for the help / Assurance.

Have a great Christmas.

my3cents

Fred Swanson wrote: »

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Also checked and can't see any ICB member that isn't a primary lender. So can't see how debt collectors can ever get on the list?

jebi1717

But Financing Companies are on the list... Money Lenders / Credit Servicing Companies would be covered under the same Central Bank Controls. (Yes/No).

Would be great to have a couple of things working in favour of people getting a fair deal rather than the usual " we don't have to agree a deal with you , or repayment plan or we are going to bring you to court"

So hope they will continue to be excluded. !!

Fred Swanson

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jebi1717

ok.. thanks for that.

I was in dispute with MBNA since 2009 and didn't pay a penny until they sold it off to Avantcard in 2013 again disputed it with them and then sold to Cabot in 2015. So the statute of 5/6 years applies (Yes/No) . but the new crowd Cabot insists I owe them the amount, which I have told them I don't owe anything to Avantcard (Ireland) Ltd (MBNA said they sold my account to Avantcard Tarajeta SA or something like that.

Any other help then just ignoring them... ?

Fred Swanson

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jebi1717

last payment in Oct 2009.. so should be in the clear now... but I don't expect these guys to stop hounding me. I somehow like to tease them...

With Avantcard, amount owed was in dispute , they kept saying doesn't matter, they have the loan now and I was under their terms and conditions.

now with Cabot, again account was in dispute and could they confirm the seller etc and documents showing sale.

nothing but threats of legal action. told them to go ahead and I'd see them in court and that they should bring along all the documents from MBNA and Avantcard with statements and sale of account etc.. and that I stop paying these oct 2009 and 6 years have passed.

Shame I can't use/prove the statue 6 years, they just keep chancing their arm.

thanks again. have a happy new year.

Fred Swanson

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