BELGARD SOLICITORS/CABOT FINANCIAL (IRELAND) LIMITED

Annette54

Hi I was wondering would anyone be able to give me some advice, have gone through this already?

When I came home yesterday there was a registered letter in my postbox from Belgard Solicitors. It was a Claim Notice on behalf of Cabot financial (Ireland) Limited. Years ago back in July 2010I got a credit card from MBNA with €5000 limit. I defaulted on the payments back in 2011/2012 ,they sold on debt to Rasdon Ltd. Who changed their name to AvantCard Limited in October 2012 who sold it onto Cabot Asset Purchases (Ireland) Limited in December 2016 and then to Cabot Financial (Ireland) Limited in May 2019. I have made any contact or paid anything since 2012. They are looking for €5707.75 and costs. What should I do? Should I defend the proceedings saying it’s statute barred?

Thanks

Annette

piplip87

The debt may be statue barred so they cannot do anything legally but they can annoy the hell out of you for it.

If they don't have your phone number don't give it to them.

You will get threatening letters etc.

If you engage at all they will keep sending letters, legal looking letters etc.

As it's old debts they bought I think the return they expect on these is about 10%. So if you don't engage they will give up fairly quickly.

Source: I worked with another collections company who bought MBNA debts. (It was during the recession, I had not choice)

Just clicked on this thread randomly. Poster, just FYI, you should remove your name/address from the pics you posted

L1011

I've deleted the post with personal details in it as those shouldn't be shared.

Annette54

Sorry I thought I uploaded the ones address and personal details blacked out

macvin

Avant card (now part of Bank inter in Spain) bought the MBNA / capital one business from Bank of America.

Your debt was not "sold" to them. The entire business was sold. The terms and conditions remained the same.

The debt was only sold in 2016.

As for statute barred, be very very careful.

1. It will be argued that Cabot have 6 years themselves, so they are within their time.

2. The debt will stay on your record until cleared, even if you succeed on having it statute barred. That means highly unlikely to be able to get bank credit at any point in the future.

Annette54

Thanks so much for getting back to me. Cabot Asset Purchases took over debt in 2016 but from reading other threats they were not financially regulated only Cabot financial are and they took over debt in 2019

Iseedeadpixels

https://www.boards.ie/discussion/comment/121946715#Comment_121946715

Not in a long time but my advice is don't let them bully you, they bought the debt for feck all and don't want to go to court so fight them for a deal that suits you.