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CABOT FINANCIAL

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  • 28-09-2021 3:41pm
    #1
    Registered Users Posts: 4


    Hi, got a call from Cabot

    Trying to work on a deal, made 2 offers so far, they refused. Got a call and they said 80% minimum. Also said they can take an injunction in court and seek Sherrif to come to the house to try and take our possessions to make up the funds. (Didn't think this kind of stuff still went on)

    My original contract was with the credit card company, can Cabot do this?



Comments

  • Registered Users Posts: 68,505 ✭✭✭✭L1011


    If the amount is low, it wouldn't be viable chasing it through the courts but for a substantial amount they can and do receive judgements (not injunctions), which will be passed to the sheriff for collection - including in goods if you have no cash.

    Your contract with the credit card provider would have included their debt collection procedures.



  • Registered Users Posts: 1,253 ✭✭✭Squiggle


    It doesn't work like that in general ! If you can't come to an agreement with Cabot, and refuse to pay, they can try and get a judgement against you in a court. Without a judgement they can do NOTHING. Then they would have to go back to court to try and enforce the judgement by typically seeking an installment order against the debtor and the amount of the installment order would be decided by a judge. A judge will NOT make you pay more than you can afford.



  • Registered Users Posts: 1 MamaPolarBear


    Hi, We just got notified our mortgage is being sold form Promontoria to Cabot. We had a pay agreement with Promontoria for the last several years and have paid successfully for the past several years with no missed payment. We thought it might be a mistake and emailed Promontoria but they said its within their rights to sell on, and a change to the payment may only be down to a rate change. I am thinking this could mean anything and is not reassuring at all. The letter from Promontoria said our rights, terms and conditions are not effected by the transfer but we are worried that in a few months when the transfer is tied in, that this will change. We are afraid Cabot is going to look for increased payments or look for some reason to try and prove non-compliance if we refuse to pay tens of thousands in some sort of final settlement, which we just cant afford to do. Has anyone gone through this before and can offer some insight into what we can expect?



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