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Cabot and Belgard solicitors

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    #272
    spyderski
    Registered Users Posts: 1,270 ✭✭✭spyderski


    Fred Swanson wrote: »
    Cabot typically do not buy debts, they act as agents on behalf of the original creditor.

    This is complete and utter horse manure. Go and do a High Court search and see how many cases Cabot are the plaintiff in. By definition they have bought the debt in every single one of those cases.


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    #273
    vandriver
    Registered Users Posts: 3,463 ✭✭✭vandriver


    Cabot Financial buy the debts.


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    #274
    cossie2
    Registered Users Posts: 63 ✭✭cossie2


    vandriver wrote: »
    Cabot Financial buy the debts.

    So i wont be able to go back to original creditor?


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    #275
    L1011
    Registered Users Posts: 69,013 ✭✭✭✭L1011


    spyderski wrote: »
    This is complete and utter horse manure. Go and do a High Court search and see how many cases Cabot are the plaintiff in. By definition they have bought the debt in every single one of those cases.

    High Court cases are going to be for vastly more money. The effort involved is impractical for some of the amounts they chase up - hundred quid cable bills etc.

    People on this thread have paid the original debtor in multiple cases; or have been chased for non-existent debts that wouldn't be able to be assigned anyway.


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    #276
    Fred Swanson
    Closed Accounts Posts: 21,730 ✭✭✭✭Fred Swanson


    This post has been deleted.


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    #277
    cossie2
    Registered Users Posts: 63 ✭✭cossie2


    Fred Swanson wrote: »
    For Cabot to own the debt, the original creditor must assign the debt to them by means a deed of assignment. The debtor has to be given this.

    The High Court only deals with debts in excess of €75000. Hardly a fair comparison to a couple of hundred utility debt.

    In small money cases, Cabot do not buy anything but act as the heavies on a % of what they collect.


    If there is little risk of cabot & belgard taking me to court for 1k... im not going to engage with them?? Ill go back to the original creditor when im in a position do so??


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    #278
    Quackster
    Moderators, Regional South Moderators Posts: 5,795 Mod ✭✭✭✭Quackster


    cossie2 wrote: »
    If there is little risk of cabot & belgard taking me to court for 1k... im not going to engage with them?? Ill go back to the original creditor when im in a position do so??

    The documentation you received from Cabot will make it absolutely clear whether Cabot has acquired ownership of the debt or whether they're just acting as agent for the original creditor.

    You can only go back to the original creditor if they still own the debt.


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    #279
    my3cents
    Closed Accounts Posts: 9,764 ✭✭✭my3cents


    cossie2 wrote: »
    So i wont be able to go back to original creditor?

    How similar is this letter you got (if you change the names and amount) to the letter you received?

    http://www.humanrightsireland.com/BelgardSolicitors/17February2014/Letter.htm .


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    #280
    cossie2
    Registered Users Posts: 63 ✭✭cossie2


    my3cents wrote: »
    How similar is this letter you got (if you change the names and amount) to the letter you received?

    http://www.humanrightsireland.com/BelgardSolicitors/17February2014/Letter.htm .

    Its exactly the same letter i got.. exact same wording etc. Must be a standard letter thats sent out


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    #281
    my3cents
    Closed Accounts Posts: 9,764 ✭✭✭my3cents


    cossie2 wrote: »
    Its exactly the same letter i got.. exact same wording etc. Must be a standard letter thats sent out

    That suggests that Cabot don't own the debt and haven't bought it from whoever you originally owe the money.

    Cabot are very unlikely to do anything and they of all people know full well the chances of making a profit out of taking you to court. If the company you actually owe the money to ask Cabot to take you to court that could happen but again its very very unlikely for that amount.

    The letter is just a standard bully tactics escalation letter. it would be good if someone could post the whole sequence so we could see the process.

    Now you know this is a template letter you can work out exactly how much money Cabot have spent so far to get you to pay, probably no more than a fiver in postage not exactly an all guns firing legal case.


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    #282
    Fred Swanson
    Closed Accounts Posts: 21,730 ✭✭✭✭Fred Swanson


    This post has been deleted.


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    #283
    cossie2
    Registered Users Posts: 63 ✭✭cossie2


    my3cents wrote: »
    That suggests that Cabot don't own the debt and haven't bought it from whoever you originally owe the money.

    Cabot are very unlikely to do anything and they of all people know full well the chances of making a profit out of taking you to court. If the company you actually owe the money to ask Cabot to take you to court that could happen but again its very very unlikely for that amount.

    The letter is just a standard bully tactics escalation letter. it would be good if someone could post the whole sequence so we could see the process.

    Now you know this is a template letter you can work out exactly how much money Cabot have spent so far to get you to pay, probably no more than a fiver in postage not exactly an all guns firing legal case.

    I wont be dealing with cabot/belgard whatsoever so. Ill deal with the original creditor when im able to.


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    #284
    my3cents
    Closed Accounts Posts: 9,764 ✭✭✭my3cents


    cossie2 wrote: »
    I wont be dealing with cabot/belgard whatsoever so. Ill deal with the original creditor when im able to.

    Now I think the problem may be that the original creditor won't deal with you because thats part of the deal they have with Cabot. If Cabot acts as agents then I think they insist that the original creditor refuses to deal further with the debt.

    The only way around that if the original debtor won't take money from them is just to find out their bank details (normally easily available) and just pay the money into their account and send a letter saying what you have done. You could perhaps pay a small amount first to see how its handled before paying the full amount.

    However by that time comes I suspect the debt will be statute barred which leaves you with the decision to pay or not.


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    #285
    cossie2
    Registered Users Posts: 63 ✭✭cossie2


    my3cents wrote: »
    Now I think the problem may be that the original creditor won't deal with you because thats part of the deal they have with Cabot. If Cabot acts as agents then I think they insist that the original creditor refuses to deal further with the debt.

    The only way around that if the original debtor won't take money from them is just to find out their bank details (normally easily available) and just pay the money into their account and send a letter saying what you have done. You could perhaps pay a small amount first to see how its handled before paying the full amount.

    However by that time comes I suspect the debt will be statute barred which leaves you with the decision to pay or not.

    How did u deal with your letter ( if thats yours) if u dont mind me asking


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    #286
    my3cents
    Closed Accounts Posts: 9,764 ✭✭✭my3cents


    cossie2 wrote: »
    How did u deal with your letter ( if thats yours) if u dont mind me asking

    Nah not mine just one I found online. More through luck than judgement I've not been in that situation.

    At this stage they are just going through the standard progression of "dunning".


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    #287
    cossie2
    Registered Users Posts: 63 ✭✭cossie2


    my3cents wrote: »
    Now I think the problem may be that the original creditor won't deal with you because thats part of the deal they have with Cabot. If Cabot acts as agents then I think they insist that the original creditor refuses to deal further with the debt.

    The only way around that if the original debtor won't take money from them is just to find out their bank details (normally easily available) and just pay the money into their account and send a letter saying what you have done. You could perhaps pay a small amount first to see how its handled before paying the full amount.

    However by that time comes I suspect the debt will be statute barred which leaves you with the decision to pay or not.

    How did u deal with your letter ( if thats yours) if u dont mind me asking


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    #288
    cossie2
    Registered Users Posts: 63 ✭✭cossie2


    cossie2 wrote: »
    How did u deal with your letter ( if thats yours) if u dont mind me asking

    I only got it yesterday... ive done nothing yet. When i was in the midst of my addiction i ignored all of these type of letters. Didnt care. Nothing came of them. But now that im in recovery i dont have the dont care what happens attitude . I have a gf... my credit rating is improving and life is normal. Obviously i dont want to end up in court. And have it affect my credit rating. The bill was for a phone bill with tesco.


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    #289
    vandriver
    Registered Users Posts: 3,463 ✭✭✭vandriver


    To clarify an earlier post of mine,it is Cabot Asset Purchases Ireland Ltd that buys the debts.


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    #290
    cossie2
    Registered Users Posts: 63 ✭✭cossie2


    vandriver wrote: »
    To clarify an earlier post of mine,it is Cabot Asset Purchases Ireland Ltd that buys the debts.

    To ask a stupid question... themselves and belgard are all the one company?


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    #291
    Hitman3000
    Closed Accounts Posts: 5,596 ✭✭✭Hitman3000


    cossie2 wrote:
    To ask a stupid question... themselves and belgard are all the one company?


    Yep.


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    #292
    cossie2
    Registered Users Posts: 63 ✭✭cossie2


    Hitman3000 wrote: »
    Yep.

    Reading other comments about this crowd...they can be quite intimidating if you engage with them at all. I will not be enaging with them. I hopefully will go back to the original creditor


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    #293
    Hitman3000
    Closed Accounts Posts: 5,596 ✭✭✭Hitman3000


    cossie2 wrote:
    Reading other comments about this crowd...they can be quite intimidating if you engage with them at all. I will not be enaging with them. I hopefully will go back to the original creditor


    Go to Mabs if really worried . Ignore Cabot.


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    #294
    cossie2
    Registered Users Posts: 63 ✭✭cossie2


    Hitman3000 wrote: »
    Go to Mabs if really worried . Ignore Cabot.

    After the feedback ive got and other comments..i will be ignoring cabot


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    #295
    UnitedIrishman
    Registered Users Posts: 5,369 ✭✭✭UnitedIrishman


    I have been paying Cabot back he last number of months - had an Ulster bank overdraft from college that I neglected for far too long in my stupidity. Repayments are nearly finished.

    Will my credit rating be ruined now after not paying Ulster Bank initially? Haven't had any issues borrowing with AIB thus far and have always repaid any loans (2 x 5k for college) on time.


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    #296
    Wasphead
    Registered Users Posts: 56 ✭✭Wasphead


    In my dealings with Cabot/Belgard regarding a credit card debt from MBNA/Avantcard. They went as far as issuing a court notice. I then issued a notice to defend.
    Now as part of their court notice they listed the "Deed of Assignment" as a document they would rely on in their court case against me.
    What this means, is they must supply the court and the defendant (me) with all documentation to be relied upon in court. Have a guess what document I have never set eyes upon?!
    I went back to Avantcard and demanded to see the "Deed of Assignment" and their response was, that it was not available due to it being "commercially sensitive".
    I then pointed out to them that their client "Cabot/Belgard" was declaring it as documentation they would rely upon in their case against me in the most public of arenas, the courthouse. Always ask for the "Deed of Assignment".
    Also look in detail at your original contract/conditions. Mine said that my debt would not be sold without my permission or put me at a disadvantage.
    By MBNA/Avantcard allegedly selling my debt to and unregulated entity (Cabot/Belgard) they did not protect my interests and failed in their "duty of care" to me.
    I asked MBNA/Avantcard a slew of questions they could not or would not answer. I haven't heard from them since and I'm still waiting for the court date to defend my case. 12 months gone.
    Ask the right questions and they won't be able to answer. Then you have them.


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    #297
    L1011
    Registered Users Posts: 69,013 ✭✭✭✭L1011


    UnitedIrishman wrote: »
    I have been paying Cabot back he last number of months - had an Ulster bank overdraft from college that I neglected for far too long in my stupidity. Repayments are nearly finished.

    Will my credit rating be ruined now after not paying Ulster Bank initially? Haven't had any issues borrowing with AIB thus far and have always repaid any loans (2 x 5k for college) on time.

    You have multiple credit ratings

    Unpaid or late paid bank debts will appear on your ICB report which is what is used for all "important" things. Private ratings agencies are used for things like hire purchase contracts, bill-pay mobile contacts etc.

    You can get your ICB report for 6 quid and is something I'd advise anyone with queries like this to do

    http://www.icb.ie/cr_options.php

    I would have some concerns that a bank debt paid off via a third party may not be reported as paid off (the late payment is still valid to report).


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    #298
    my3cents
    Closed Accounts Posts: 9,764 ✭✭✭my3cents


    L1011 wrote: »
    ...

    I would have some concerns that a bank debt paid off via a third party may not be reported as paid off (the late payment is still valid to report).

    After 5 years why would it matter?


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    #299
    L1011
    Registered Users Posts: 69,013 ✭✭✭✭L1011


    my3cents wrote: »
    After 5 years why would it matter?

    It still being paid off so will still be active on the record for some time.


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    #300
    kieran.
    Registered Users Posts: 1,174 ✭✭✭kieran.


    L1011 wrote: »
    You have multiple credit ratings
    Private ratings agencies are used for things like hire purchase contracts, bill-pay mobile contacts etc.

    I never heard of this before, how can a private agency hold data about me without my expressed permission?


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    #301
    my3cents
    Closed Accounts Posts: 9,764 ✭✭✭my3cents


    kieran. wrote: »
    I never heard of this before, how can a private agency hold data about me without my expressed permission?

    Its in the T&C's when you sign up this is from three's website about Credit Insights. Vodafone and Eir use the same company.


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