Cabot financial Belgard solicitors

cardarsen

I had a loan with ulsterbank which got taken over by Cabot financial. I agreed a €20 a week payment plan. I have missed 2 payments and have now received a letter from Belgard solicitors stating I owe €4000 and to pay it within 7 days or they will bring me to court to get debt and interest and legal fees. Has anyone dealt with these before? Any advice greatly appreciated

Ten Pin

You will probably get some info in the thread linked below
https://m.boards.ie/vbulletin/showthread.php?t=2057431924&page=20

Wasphead

It's probably one of their generic threatening letters. Have you stopped paying all together or just missed the payments? They may just be rattling your cage to get you back on track.
I have a folder full of these letters and have yet to get a court date. And I mean years worth!

cardarsen

Every time I start paying Cabot financial would not take a payment every few months then ring me to up the payment as I missed one!! This time it happened again so I just left it stopped but it can't be anymore than 3/4 payments missed.

Wasphead

Well you have two choices really, continue to not pay and get endless amounts of threats and even a genuine court notice will probably come.
Or you can reply to Belgard and tell them their client has stopped taking payment, and you are sick of being treated with contempt by them, and that you are willing to restart payments on condition their client stops treating you poorly. Tell them if it happens again you'll take your chances in court.
Remember this in all your dealings with Cabot/Belgard, they are one and the same, and they are venal scum. Treat them, as they treat you!

mockingjay

I have just received a letter from Cabot for an bill of €6k from Ulster Bank from back in 2012 - an overdraft from a company which has been wound up. This is the first letter I have received in my name, they have given me 7 days to pay and I'm panicking - it is shared by me and my ex-business partner, honestly thought this had been dealt with in the wind-up - both names are on the letter, as I need to move on I'm very worried that this will affect my financial rating in future - of course I don't have this sort of money at all and I know my old business partner won't engage, I never see him .... what are my options here? I had a sleepless night! Any advice appreciated.

Wasphead

Mockingjay, no need to panic. It's their first step in rattling your cage.

Options are you can ignore the letter and they will send you letters from their legal department Belgard Solicitors.

Another option is to demand all information relating to the alleged debt, including, and especially the "Deed of Assignment". They will still send you threatening letters from Belgard Solictors. If they do, ask again for the "Deed of Assignment". And keep asking for it!

You can, and should, make a formal complaint in writing to Ulster Bank for allegedly selling your debt to and unregulated entity and demand a copy of the terms of your loan and again a copy of the "Deed of Assignment".

Do any communication with them in writing only. Never communicate with Cabot/Belgard over the phone, and I can't stress this enough, never talk to them.

They will continue to threaten and harass you. Unlikely they will take you to court, if you put up a defense. If you don't engage they could move to get a court order for the debt, which gives them the right to pursue you by other means for the debt. Don't let it get to that stage, even if it means going to court! The court would means test your income and make an order of payment based on that. This is not what Cabot/Belgard want.

Also look at the debt being statute barred, 6 years of non payment would be a defense. But don't acknowledge the debt.

mockingjay

Thank you so much for your response, it really calmed me down, I feel a lot better now. I do have one problem though, between posting this morning and before your reply I did ring them, the person was nice though, more or less said, they could split the debt in half and follow the other person separately, but I'm dubious about that - they said they would post a Statement of Means for me to work out a payment plan, I didn't give them my phone number, and the letter they are sending is to the old business address, an old neighbour happened to give it to me. I'm a bit worried now, I shouldn't have acted so quick, but I was beside myself with worry.

I did learn a lot from your reply though - maybe I should just ignore it from now on - it is a very old debt - I also need to check how old - I think its from 2011.

Wasphead

Are you in a position to pay something? Can you afford to sustain what they ask for? If you fill out the statement of means they will dictate what you pay them.
They will continue to harass you regularly even though you've agreed to a payment. So you need to get them to provide you with all documentation, including "Deed of Assignment".
Did Ulster Bank inform you they were passing on the debt to Cabot/Belgard? They are obliged to.
No panic on ringing them, the spider just a snared fly is all. You do not have to fill out a statement of means for them. Respond in writing by asking for all documentation proving they are the owners of the debt. Tell them you did not give permission to Ulster Bank to sell your debt.
So you can decide for yourself, do you want to pay the debt on their terms, or do you want to fight these reprobates who just chanced their arm on a statute barred debt.

Wasphead

PM'd you some info' that may help you out.

GoneHome

Wasphead wrote: »

PM'd you some info' that may help you out.

Wasphead, will you PM the info to me also as I am helping a person out with a similar situation, thanks.

Wasphead

Will do.

irish_major

Anyone ever taken a case against them?
Had a debt with AIB which was cleared in full with AIB, they phoned an address which I no longer reside, and told the person on the phone about my financial situation and to contact them immediately to clear it.
I was fuming with this breach of data and would like to pursue them. I've tried to contact them but to no avail and am thinking of taking legal action against them

Wasphead

I came close to formally complaining them to the Data Commissioner and the Financial Service Ombudsman and Belgard Solicitors to the law society. But they backed off once I asked them answer certain question about lies they just made up.
They've definitely breached your data rights, you'd want to hammer AIB too for selling your data without due regard. Not sure how you'd get on in a court but you might get compensation through the ombudsman. Would love to see Cabot/Belgard get a bloody nose!!!

cardarsen

Same as that..they totally backed off once I sent an email requesting the deed of assignment. After months of harrassment

Elizingram

Hi
How did you send them an email it said not to send emails but to phone I want to send an email to them asking for the deed of assignment
Eliz

Drwhofangirl

I have to say I'm so very relieved to find this post about Cabot financial. I'd love some advice/help with regards to them. It's a bit long winded so please bear with me. Back in 2008 when the crap hit the fan with the financial downturn I had a credit card with MBNA, I ended up running up the card but was always very good at paying lump sums back and had been for a great customer for years. Anyway, my business was under severe pressure and although I paid them every month, they kept adding interest onto interest before I knew where I was it was 8.5K owing on it, all interest as the card hadn't been used in 2 years.

We engaged with them with a financial advisor who eventually got the debt written off. We got a letter from MBNA to say they were writing it off. anyway, MBNA pulled out of Ireland and sold the debt onto Avant Card who did the usual tricks of harassing us, so we agreed to pay them €5 per month then we upped it to €10 and then €20 per month.

Then we got a letter about three years ago to say that Cabot had now taken over the debt. We are still paying €20 per month, but I don't get any statement of account from them, I don't have a contract with Cabot, and the debt is an old legacy debt of nothing but ridiculous hiked up interest on interest charges. Should i continue to pay this or should i get a solicitor involved?

Would love to hear some opinions as It's not something i can speak to my family about

alig1234

Hi ther first please do not worry+ your first action should be to go back to mbna and ask why they transferred your data when the debt was written off- you are right in that Cabot/ belgard should draw up papers agreeing a repayment of X per month for say a year after which it will be revised- but Cabot/belgard prefer to harass you all the time for more and you will never repay the debt because they are just luring You into a high interest repayment- happy to help you further if you send me a PM

yosser hughes

Drwhofangirl wrote: »

I have to say I'm so very relieved to find this post about Cabot financial. I'd love some advice/help with regards to them. It's a bit long winded so please bear with me. Back in 2008 when the crap hit the fan with the financial downturn I had a credit card with MBNA, I ended up running up the card but was always very good at paying lump sums back and had been for a great customer for years. Anyway, my business was under severe pressure and although I paid them every month, they kept adding interest onto interest before I knew where I was it was 8.5K owing on it, all interest as the card hadn't been used in 2 years.

We engaged with them with a financial advisor who eventually got the debt written off. We got a letter from MBNA to say they were writing it off. anyway, MBNA pulled out of Ireland and sold the debt onto Avant Card who did the usual tricks of harassing us, so we agreed to pay them €5 per month then we upped it to €10 and then €20 per month.

Then we got a letter about three years ago to say that Cabot had now taken over the debt. We are still paying €20 per month, but I don't get any statement of account from them, I don't have a contract with Cabot, and the debt is an old legacy debt of nothing but ridiculous hiked up interest on interest charges. Should i continue to pay this or should i get a solicitor involved?

Would love to hear some opinions as It's not something i can speak to my family about

You say you got a letter from MBNA to say the debt was written off? They wrote the entire debt off did they?If they did; why did you start repaying Avant Card? Did you not refer them to your deal with MBNA?
Can you clarify?
In my experience entering in to repayment deals is unwise. Try to get a settlement.

nickys

I had a visa card about 13 years ago. Owed €2k lost my job i the recession circca 2009 maybe was still amking payments but inly interst so the 2k never went down as inyerst was so high. Rang visa explained lost job mortgage was interest only etc theu didnt care couldnt help me wouldnt stop interest etc. So eventually stoppes paying it. They passed it to a debt collection comoany i made some payments to them got debt down to about €1600 then stopped to be homest.
Anyway fee months ago get a letter from cabot and calls etc havent responded. I then got 2 letters fron Belgard sols last one saying i have 7 days or will be in court. I have had 2 missed calls today. Am uo the walls sad thing is i well paid the 2k in interest but hey ho
What do u suggest i do?

Wasphead

nickys wrote: »

I had a visa card about 13 years ago. Owed €2k lost my job i the recession circca 2009 maybe was still amking payments but inly interst so the 2k never went down as inyerst was so high. Rang visa explained lost job mortgage was interest only etc theu didnt care couldnt help me wouldnt stop interest etc. So eventually stoppes paying it. They passed it to a debt collection comoany i made some payments to them got debt down to about €1600 then stopped to be homest.
Anyway fee months ago get a letter from cabot and calls etc havent responded. I then got 2 letters fron Belgard sols last one saying i have 7 days or will be in court. I have had 2 missed calls today. Am uo the walls sad thing is i well paid the 2k in interest but hey ho
What do u suggest i do?

The 7 days thing is just the beginning of a campaign of harrassment. Don't ring them. Reply in writing asking for all proof and evidence of the debt and ask, especially so, for the deed of assignment. Until they show you that, then they cannot take you to court to enforce the debt. Even if in the unlikely event you do end up in court, you will be means tested, and the court will decide what you can pay. But it's very unlikely to get there. Ask me how I know!!! Again everything in writing. Nothing by phone. Block their number if you can. To coin a phrase, "Welcome to Cabot"!

Under His Eye

It is statute barred at this stage.

nickys

Under His Eye wrote: »

It is statute barred at this stage.

What does that mean?

nickys

Just got another letter from belgard this.time it says again about court proceeding in 7 days but it also has statement of means sttached to it for me to fill in??? I havent returned any calls or letters from them yet.

Under His Eye

They are very brave trying to take a statute barred debt to court.

Statute barred means they cannot enforce the debt as it is more than 6 years since the last payment or written acknowledge.

nickys

Under His Eye wrote: »

They are very brave trying to take a statute barred debt to court.

Statute barred means they cannot enforce the debt as it is more than 6 years since the last payment or written acknowledge.

Ah ok its not 6 years i was tying to oay it off for years but it was just interest the last payments were made about 3 years ago when it was passed to a crowd called intrem justicia

Under His Eye

Then ignore what I said.

Wasphead

As per my original response, ask them for proof, evidence and the "Deed of Assignment". You do not have to fill out a statement of means for them. If you do they will set the amount they want you to pay.
So you have a choice, pay it, or fight them. And they are relentless. So it will be a fight. So with that in mind, continually ask for the " Deed Of Assignment".

Wasphead

nickys wrote: »

Just got another letter from belgard this.time it says again about court proceeding in 7 days but it also has statement of means sttached to it for me to fill in??? I havent returned any calls or letters from them yet.

So another 7 days before court proceedings?!!!

yosser hughes

My advice is to try to come to a settlement with them, otherwise you're in for months and maybe years of stress and constant back and forth.
Engage with them only in writing, keep copies of everything and send them registered letters.
They will settle but will try and get as much as they can.
Don't enter an installment plan if you can help it.

You can delay and obfuscate; but get it sorted for your own sake; the sooner you can get on with your life.

nickys

I havent done anything yet with it. But received another letter this morning signed belgstd sols no name. Offering me a settlement of 400 euro less than i owe.

yosser hughes

nickys wrote: »

I havent done anything yet with it. But received another letter this morning signed belgstd sols no name. Offering me a settlement of 400 euro less than i owe.

It depends on your situation, only you know that.
So how much is it now €1200? Either make a counter offer or pay it and move on with your life.

edit: Just to add to that.Make absolutely sure, in writing, if you agree to an offer; that it is full and final settlement of the debt owed and that this explicitly stated in their correspondence to you. Make sure you keep all correspondence from them and copy any correspondence you send to them in turn.

nickys

Got my icb report andnita says about tje credit card on it. Its due to be removed on december 2018 it says.

yosser hughes

nickys wrote: »

Got my icb report andnita says about tje credit card on it. Its due to be removed on december 2018 it says.

Well that's good. It still won't make the debt go away though.
Bear in mind,there is a new debt reporting model now. It is the central credit register. This is separate to the ICB. You may want to check that out too.

Conman88

Hi everyone, just came across this thread, some useful info.
I have a problem. I recently applied for a loan with my credit union(never had a problem before, only got one in March this year). My loan was refused, they had asked what was an outstanding overdraft on my CCR report of €953. I had no clue. I’ve never had an overdraft in my life. So I applied for my report and on it is an overdraft for Cabot financial for €953. It says started on 2010. I remember getting a phone call many years ago from them saying I owed them this money for an outstanding over draft with the ulster bank. I informed them that I never had an overdraft with the ulster bank and would they forward me on any information in relation to this. Signed documents and all, they refused to give me any information so I said I am not paying them until I receive this information. I have heard nothing of it since until I applied for my loan. Now this is on my report. Any ideas of how to go about getting this removed?
Only thing that comes to mind of why I would owe money is because I had an account in the ulster bank when they had that big crash a few years ago and there was a problem but I had switched from that bank.

TimeShare

Never deal with these people by phone, they will harass you with calls. Their refusal to deal with people by email is tactical and based on entirely spurious 'data protection' grounds. How do they know the person they're talking to on a phone is the person they allege owes the debt?
If they are harassing and threatening you on false grounds make an immediate complaint to the appropriate regulator - this may relate to the source of the original 'debt'.
One other tactic in these instances is to invoice their accounts department for your time dealing with their false claim.
They were after me for an out of contract payment on a discontinued service - a fishing exercise.

alig1234

Hi there what an awful situation this is extortion pure and simple. I suggest you do a letter to Cabot saying under GDPR you require them to rectify the personal data they have on you as is your right under GDPR, and correct the ICB record within 31 days. Tel them they y should 'cease and desist and refer the matter back to Ulster Bank immediately or you will be bringing a complaint to the Data Protection Commissioner and the Financial Services Regulator. When you receive their reply give a copy to your credit union. Happy to help if you need me to just send me a PM. This nonsense has to be dealt with.

Shelmalier

Hi, just reading info. here on Cabot / Belgard who I've just received a letter from. Thanks to everyone who's contributed. It's very useful to get some background info. I was about to call them but based on what I've read here I've now decided not to. I'd welcome any advice on whether it's worth having someone deal with the case on my behalf. Either a solicitor who has experience of Cabot / Belgard or a Financial Advisor? I'd welcome any view. The loan in question is sevens years old. Thanks.

Wasphead

Hi Shelmalier, If the debt hasn't been paid for over 6 years, that means it is statute barred, or unenforceable. That doesn't mean they can't pursue it, just that if they took you to court, your defense would be, along with other things, the debt is statute barred. You could write to them asking for any and all information they have relating to you and the Alleged debt. There's nothing a solicitor or anyone else can do, that you can't do in relation to this debt.
Just remember at all times, communicate in writing with Cabot/Belgard, they are not your friend, they do not have your interests at heart. Basically they are scumbags masquerading as legitimate debt collectors!

Jim2007

Wasphead wrote: »

Hi Shelmalier, If the debt hasn't been paid for over 6 years, that means it is statute barred, or unenforceable.

Wrong from a legal point of view. The absence of of payments in no way makes a debt statute barred.

OP - best seek proper legal advice.

yosser hughes

First of all, Cabot/Belgard are not 'masquerading' as debt collectors, they are debt collectors.
Secondly, you need to engage, as this will not go away. My advice posted earlier in this thread, is the same today. Deal with this head on and avoid the stress. Because it will be stress and they will not give up or stop trying to contact and pressure you. That's their job.

yosser hughes wrote: »

My advice is to try to come to a settlement with them, otherwise you're in for months and maybe years of stress and constant back and forth.
Engage with them only in writing, keep copies of everything and send them registered letters.
They will settle but will try and get as much as they can.
Don't enter an installment plan if you can help it.

You can delay and obfuscate; but get it sorted for your own sake; the sooner you can get on with your life.

Wasphead

Jim2007 wrote: »

Wrong from a legal point of view. The absence of of payments in no way makes a debt statute barred.

OP - best seek proper legal advice.

What does statute barred mean?

A debt will be deemed statute barred after a set period of time (defined by the type of debt, most commonly 6 years) if the following takes place:

• The creditor has not already taken court action
• No payments have been made in relation to the debt within the set time period
• No acknowledgement has been made by the borrower to the lender that they owe them money within the set time period

If any of these events were to occur, the time before the debt becomes statute barred is reset. A lender can still continue to pursue an outstanding balance once a debt is considered statute barred, but not through the courts. This in in accordance with the Limitation Act 1980 which provides timescales within which certain actions may be taken to recover outstanding sums.

Are debts really written off after 6 years?

After six years have passed, your debt may be declared statute barred - this means that the debt still very much exists but a CCJ cannot be issued to retrieve the amount owed and the lender cannot go through the courts to chase you for the debt. That is not to say that lenders cannot use other means of retrieving what you owe, with debt collectors often proving a viable option.
Statute barred status does not apply for every type of debt, and some forms may require a longer waiting period before statute barred can come into effect, so hoping that a debt will become invalid after six years have passed might lead to further issues later.
The length of time before a debt becomes statute barred will depend on the type of debt; the six year period set out by the Limitation Act refers mostly to unsecured debts such as a personal loan. Outstanding mortgage payments have a twelve year recovery period but tax, duty or related interest payments do not have a time limit for recovery. That means the debt can never become statute barred and a court judgment could be issued at any time.
As mentioned previously, the ‘start point’ of the 6 year period is determined by the time you last made a payment towards the debt or acknowledged to the creditors that you owe an outstanding debt. That means it’s not a straightforward 6 years since the missed payment, if you have recently been in touch with the lenders to find out how much time remains until the debt is statute barred, that could be enough to start the clock again.
Additionally, at any time before a default is due to expire a lender may be able to issue a CCJ in an attempt to recover payments. CCJ markers last on your credit file for another 6 years, turning that initial six year wait into 12 years before your credit file no longer has any trace of your outstanding debt.

Wasphead

yosser hughes wrote: »

First of all, Cabot/Belgard are not 'masquerading' as debt collectors, they are debt collectors.
Secondly, you need to engage, as this will not go away. My advice posted earlier in this thread, is the same today. Deal with this head on and avoid the stress. Because it will be stress and they will not give up or stop trying to contact and pressure you. That's their job.

I let my personal feelings towards these ass wipes get in the way of the fact they are debt collectors. To me they are ass wipes first, debt collectors second. From experience of dealing with them. And I did deal with them head on and found them to be wanting on all levels, particularly on facts. With me they lied, threatened and and engaged in deception. All contrary to the law, namely "The Non fatal Offences against the person Act". For me, they masquerade. And indeed it was stressful and a huge learning curve. I post what I've learned from my dealings with them. What are your own experience's with them?

NORMAN77777

Cabot/Belgard solicitors issued court proceedings to me in Feb this year due to MBNA credit card debit,i got my solicitors to write to them telling them that it was statue barred,received reply today from my solicitor and they have they sent him notice of discontinuance from the district court,that hopefully is the end of this for me.Goodluck to all having to deal with this shower.

Wasphead

NORMAN77777 wrote: »

Cabot/Belgard solicitors issued court proceedings to me in Feb this year due to MBNA credit card debit,i got my solicitors to write to them telling them that it was statue barred,received reply today from my solicitor and they have they sent him notice of discontinuance from the district court,that hopefully is the end of this for me.Goodluck to all having to deal with this shower.

That's good stuff. I got notice recently that Cabot Assets are selling my alleged debt to Cabot Finance! And apparently I don't have to do anything! Seems I may be in for another raft of bullying and threats and maybe even an actual visit to the courts.

NORMAN77777

so today i to get a letter from Cabot asset purchases notifying me that they are selling my agreement to Cabot Financial,this letter is dated 29th March and the notice of discontinuance i received yesterday was 25th March,can they do this,what do you reckon there plan is?

Wasphead

NORMAN77777 wrote: »

so today i to get a letter from Cabot asset purchases notifying me that they are selling my agreement to Cabot Financial,this letter is dated 29th March and the notice of discontinuance i received yesterday was 25th March,can they do this,what do you reckon there plan is?

I'm at a loss as to whether they can do this or not. It could be across the board selling of debt they can't or won't pursue through the courts. They may have plans afoot to get going again via some other angle. At this stage I'm beyond caring what they do.

NORMAN77777

I am to,they can do what they like,i know for a fact my debt is statue barred,no phone calls,payment,no communication with them or anyone from the credit card company since 2011,i was wiped out in the property down turn and this is actually one of my smallest debts.
Will keep you posted when and if receive any other court stuff from cabot financial,goodluck

irish5er

Hi
I too have received a letter saying Cabot Asset transfered“our agreement, letters and all other rights to my account and our Agreement “ on 31May. I had a MBNA cc in 2009 and it was making payments, sold to Avant , more regular payments, visits to Mabs as made redundant in 2010. Debt down to 5000 by time Cabot got it and I offered them 3000 and they refused. Haven’t heard anything for 4 years but just as I get another job this letter. Can they just continue to sell my debt, probably at reduced prices to each other? I don’t have anything to offer atm as struggling with mortgage. Any advice welcomed

Jim2007

NORMAN77777 wrote: »

I am to,they can do what they like,i know for a fact my debt is statue barred

An opinion is not a fact. You may claim that your debt is statute barred, but only a judge can decide that it is in FACT true or not. Now given that your debt was sold, it is fair to assume the legal reviews suggest that it is collectible. Only time will tell if their confusion was correct.

leeald

I am just looking for some advice. I got a loan from GE money 14 years ago. My salary was 22k a year they loaned me 20k within the space of a year. (Stupid of me I know but they gave a credit limit on a loan and topped me up) been older now I realise this was not fair lending practice.

I continued paying the monthly payment some months €500 to the point I was completely overstretched for 5 years I stopped paying the loan and agreed a monthly payment with GE and got a print out from GE of all the repayments I had made up to that point which I still have.

I hit a rough patch and could not continue payment . The print out I have totals the actual balance I borrowed so the principal balance was paid back so there is 11k in interest outstanding.

I was made redundant in 2014 and contacted Cabot and offered 50% aettlement of remaining interest balance the guy on the phone was a bully I basically came off the phone stressed and upset he belittled me the whole time. I asked for letter stating my offer for settlement declined and never got this. I was been pro active by trying to get it sorted so I decided I would not entertain anyone from their company again.

I recieved 1 or 2 letters since that point from Cabot but ignored them , Fast Foward to present day got a letter today out of the blue from Belgard Solicitors demanding full balance within 7 days or will issue legal proceedings so just wondering is this a holding letter or to extend the statue limitations it is bound to be nearly up. I am in no position to pay it back and certainly do not want the stress or anxiety dealing with belgard/Cabot. I am looking for any genuine advice what do I do from here ?

Thank you

Lee