Cabot Financial and their in-house Solrs

Fox14

Hi. Today (11/12/18) I received a letter from the above company’s Solrs @ same address about an old c.card debt of 5.3K I didn’t pay opened around 2011 I’d say .Their offering to accept 2.6K to clear it which I don’t have. It’s saying I haven’t replied to previous correspondence but I never got any from Cabot b4 although I had emigrated but my post was kept. Last letter I recd was from avantcard (previously MBNA card) in 2014 when I was away saying that I owed the full amount which at that stage card had been cancelled and written off . 4 years l8r I’m only gettin 21 days b4 Xmas or court.!! But I checked my ICB two weeks ago out of nosiness and the debt is gone and not on it . Confused!
I really don’t want to go to court! But I’m afraid to contact them to see if they’ll do a repayment plan for it Incase they put me back on ICB.
Advice..??? Help..???

FishOnABike

I would say get advice on whether the debt might be statute barred at this stage before entering into any discussions or correspondence with Cabot Financial or their solicitors.

Fox14

FishOnABike wrote: »

I would say get advice on whether the debt might be statute barred at this stage before entering into any discussions or correspondence with Cabot Financial or their solicitors.

I’m wondering does the six years start from when they cancelled the card as written off or when. How would I find that out I wonder. If it’s not on my ICB at this stage surely hey can’t bring me to court over it could they..!? Wouldn’t u think they’d ask me if I’d like to start repaying them in some way at least first rather than threatening me straightaway after hearing nothing for so long.!

368100

Fox14 wrote: »

I’m wondering does the six years start from when they cancelled the card as written off or when. How would I find that out I wonder. If it’s not on my ICB at this stage surely hey can’t bring me to court over it could they..!? Wouldn’t u think they’d ask me if I’d like to start repaying them in some way at least first rather than threatening me straightaway after hearing nothing for so long.!

Check your CCR...(the new central bank register). Ive had a similar situation and while its gone off ICB, its on CCR....currently have an application in to get it removed.

dudara

Moving from the Forum Requests forum to Consumer Issues

dudara

Fox14

368100 wrote: »

Check your CCR...(the new central bank register). Ive had a similar situation and while its gone off ICB, its on CCR....currently have an application in to get it removed.

Thanks never even heard of CCR . Is your debt cleared before u put in your application ?
Is the CCR checked by financial institutions if I applied for new credit.?

368100

Fox14 wrote: »

Thanks never even heard of CCR . Is your debt cleared before u put in your application ?
Is the CCR checked by financial institutions if I applied for new credit.?

Its not showing as cleared, thats why Im trying to get it removed. Yes CCR is checked now along with ICB....ive had good loans since that have been paid off early and none of them are showing so I dont understand what the criteria is for showing records

Plumbthedepths

When did you last make a payment on the debt?

FishOnABike

CCR is the central credit register
http://www.centralbank.ie/consumer-hub/explainers/what-is-central-credit-register

I'd get some good advice on the statute of limitations if I were you, as the devil is in the detail as to when the clock started ticking and if it had been reset at any time.

piplip87

They have purchased the debt of MBNA. I've worked cases with aged MBNA with another collections company. You've nothing to worry about here. There chancing Thier arm here. They will annoy for a a few months and stop. Best solution is to seek advice before speaking with them. The debt could be statute barred and if it is don't contact them or acknowledge the debt.

Fox14

Plumbthedepths wrote: »

When did you last make a payment on the debt?

2010 I’d say it would have been.!! Could have been 2011 or could have been 2009 . I’m that unsure.!! When it was written off think the debt was around 4.7K and with fees/interest and everything went up to 5300

Fox14

piplip87 wrote: »

They have purchased the debt of MBNA. I've worked cases with aged MBNA with another collections company. You've nothing to worry about here. There chancing Thier arm here. They will annoy for a a few months and stop. Best solution is to seek advice before speaking with them. The debt could be statute barred and if it is don't contact them or acknowledge the debt.

Yes I’ve read older forums about Cabot where ppl have said that. It’s just a wonder they weren’t hounding me for the last four years about it.! ðŸ™႒

Wonder could it be that it’s getting close to the six years being up and a red flag came up on their system to send a letter fast.!!

Plumbthedepths

Fox14 wrote:

2010 I’d say it would have been.!! Could have been 2011 or could have been 2009 . I’m that unsure.!! When it was written off think the debt was around 4.7K and with fees/interest and everything went up to 5300

If you haven't engaged with debt in 7 years. Ignore Cabot, standard practice from them. Buy a debt cents in the euro and try to scare you into payment. Do not acknowledge the debt or even receipt of a letter .

Fox14

When did Avantcard take over exactly from MBNA does anyone know because my last punt was def to MBNA and not to avant.id have a more idea of the last pymt then. Def was t after 2012 either way I think

FishOnABike

Fox14 wrote: »

When did Avantcard take over exactly from MBNA does anyone know because my last punt was def to MBNA and not to avant.id have a more idea of the last pymt then. Def was t after 2012 either way I think

https://m.independent.ie/business/personal-finance/bankinter-enters-irish-market-through-avantcard-acquisition-37360056.html
..."Avantcard arrived in Ireland in 2012, when it bought the MBNA credit card business"...

Could be close to the six year limit. Definitely worth checking it out before acknowledging anything.

Fox14

I defo didn’t make a pymt after November 2012 so none in six yrs -however I think I called Mbnas debt collector in summer 2012 to discuss payment plan that they wouldn’t accept but I’m unsure who MBNA s debt collector was at that time I.e was it Cabat or not..! Don’t know what to do, really need to avoid a summons coming to our home house..!!

FishOnABike

Fox14 wrote: »

I defo didn’t make a pymt after November 2012 so none in six yrs -however I think I called Mbnas debt collector in summer 2012 to discuss payment plan that they wouldn’t accept but I’m unsure who MBNA s debt collector was at that time I.e was it Cabat or not..! Don’t know what to do, really need to avoid a summons coming to our home house..!!

If you don't know what to do, get legal advice before you do anything. You wouldn't want to inadvertently acknowledge something that might otherwise be statute barred at this stage.

If Cabot did intend taking it to court you wouldn't receive a summons (it would be a civil matter, not a criminal one). They would have to serve you (probably by post) with a civil bill (just a standard template court document setting out their claim) looking for a court judgement for the amount of the debt.

If it does get as far as receiving a Civil Bill, make sure you get legal advice. If you don't defend their claim they can get a judgement against you in default of defence. At the same time you don't want to acknowledge something that may be statute barred.

The law can be very technical (and not always seem sensible), proper advice is important to ensure you are aware of the implications of whatever you do, or don't do.

Vologda69

Brother owed 8000 to MBNA. Lost his home, his partner and his job. Cabot bought the debt from MBNA. Sent him all kinds of threatening voicemails and letters. He ignored them. Hasnt heard anything in almost a year. Not advising, just saying.