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.