Cabot and CCR

C

County2019

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Hi all looking for some advice on Cabot Financial.


I had a Halifax CC debt that was sold on when they moved out of Ireland (years ago) was paying debt until 2017 and had roughly 3600 left.


I lost my job and that coincided with having to move and I didn’t change my address. The debt was then sold from Bluestone to Cabot in that time. Cabot called me and I asked them to send me all details they had on me and we would talk about payment arrangement once I started new job.


I never received any letters or calls after that phone call... the other day out of the blue I had a missed call from there legal department (Belgard)


Roll on a year later and things are in a better place. I’m hoping to buy a house and got my ICB (all clear) I’ve requested my CCB also and am waiting on that.


My worry is that this debt is going to show on the CCB and wreck my chances of getting a mortgage. I am in a position where I can pay them (or at least a settlement) but is that too little too late if they are on my record? They don’t have my new address only my old one but would have my name and DOB is that enough to add me to the register?

Also could I pay with a bank draft instead of a transfer as I don’t want the transaction to show when going for a mortgage. The other thing I’m wondering is if they are not on my CCB should I wait until I’ve gotten a mortgage before engaging with them? I’m waking up in cold sweats thinking there’s court judgements out for me!



I know I’ve been silly here thinking this would ‘go away’ But I genuinely have changed my ways in terms of spending/borrowing and I do want to close it off and move on with the hope I haven’t messed up my chances of getting a mortgage for my family.


Thanks for reading!
 
If you offer them money, they won't care how you pay it.

Best is to ring them and ask them what figure they would want in full and final settlement.

Then pay it and get it over with.

When are you thinking of buying the house?

Brendan
 
Thanks for the reply Brendan. I would be hoping to go for mortgage approval in the next 2-3 months (just waiting on partner to pass his probation). My main worry is if they have added my debt to the register that will have scuppered my chances for the mortgage but if they haven’t then once I pay they will add it as closed or settled (if that makes sense).
 
Report arrived today and they are showing.

Odd thing is my BOI loan (that was paid perfect) is not there?

The Cabot details are wrong with the exception of the balance. I made a payments upto 2017 but it’s showing as 80 missed payments which is going to look absolutely awful.

Will give CCPC a call to see what they think also.

Another one showing is Tesco for 69 euro from ! I genuinely thought that was paid in full so need to contact them to see what’s happened and close that out.its so long ago having proof of payment will be tricky but I’ll pay it again if needs be.

Safe to say things won’t be looking in any way good for Mortgage now.

Thanks for reading
 
Update:

Re Tesco: I’ve requested an amendment based on incorrect information on the account. Proof of payment sent and hopefully that will close out the matter.

Re Cabot: Spoke with Mabs/CCPC & Financial Ombundsman before contacting Cabot.

Cabot said the information on the credit Register is incorrect because I never entered an ‘agreement’, when I asked about contact made there was 1 letter and 1 phonecall showing on their records and no other attempts made. They have said that once I enter an arrangement the wrong information will rectify - I want to pay the balance in full but paid a small amount and will recheck the CCR next month to see if the updates come through before paying in full and closing account.

Hopefully the closure of these will put me in a position to get a mortgage in a few years even with a higher interest lender until I get the all clear.
 
Hi all, a very similar query so I'll just try here.
Bf and me applied for BOI mortgage. After all usual expenses, we have over 1000€/month left and were told we were in a really good position. Credit check comes back and shows an old cc debt that the bf had, about 2.5k. Debt is 11/12years old and sold from MBNA to Cabot. Last contact from them was about 8 years ago by phone. What can we do?? Should this debt not be "gone"/ statuted barred? Help!!
 
RedOnion said:
It doesn't just disappear. He still owes the money. Just tge debt can't be enforced if statute barred.
CCR forces them to report it, unless they consider he no longer owes it.


Pay up!
Click to expand...
Thank you for responding! Yes, I agree that paying is the best option here but I want to understand well how it works...could you tell me please what it means "can't be enforced"? Is there a way we can know the debt status at the moment? TIA
 
Mimimi said:
what it means "can't be enforced"?
Click to expand...
They can't pursue him through the courts.

Mimimi said:
Is there a way we can know the debt status at the moment?
Click to expand...
I think this is a catch 22. The only way to fund out the status of the debt is to acknowledge it exists... So if it's not already statute barred, so restart the clock!

Its on his record. I assume he knew the debt had been sold to Cabot? In your other post you say the CC bank went bust. That's irrelevant. He borrowed the money and didn't repay it. (MBBA didn't go bust - they sold their business).

You've been declined bank mortgage. Not surprisingly banks don't like lending to people who don't repay.

So what are your options?
Is there a legitimate way it can be explained to bank?
Call Cabot - ask for a figure for full settlement, that won't be marked as write off on CCR.

Alternatively, stay renting.
 
Hi all. I had a unpaid loan with BOI 16 years ago, it's not on ICB, but this new credit check? Will it show, applying for mortgage next year....$1000.00
 
I feel ill, its not on ICB.my own fault of course, I moved to Australia n ignored it.do you know how far back the report goes?
 
Ninz77 said:
do you know how far back the report goes?
Click to expand...
Just request the report, and you will know. Its free of charge.
It really depends on how the bank treated your debt prior to the register being put in place.

Just note that regardless of external, the bank you didn't repay might have their own records they refer to.
 
Hi,

Would appreciate anyones guidance on my situation..

I applied for a mortgagage last year with AIB and was approved for a smaller amount as i had a loan with them at the time. I decided to reapply again as the loan had been cleared and I was hoping to get a higher amount

On applying, I recieved a mesage asking was I aware of a €862 unpaid debt and I originally thought they were mixing me up with my husband ( who had a debt written off, but still appearing on his icb until 2021) hence why I applied individually.

So I since found out this was my debt and was quite surprised as I thought I had cleared any debts years ago. I had a loan for 3440 euro in 2010 with aib which I defaulted on as came out of college in a recession and no work. I entered full employment in 2014 and was in a position to pay debt. As this debt was with intrum justitia I entered into a agreement to pay monthly 100 euro installments..which I did and looking at my bank statements which was coming out at the same time each month.. noticing there was a stage this hadn't happened. Intrum rang me and I was confused as to why payments would stop as thought it just automatically came out of my bank each month. It was noticed I had applied for a replacement bank card ( as ive a tenancy to loose cards :/) I gave intrum new card details and the payments started again . Thinking everything was being paid, im now surprised to see this debt come up. After a bit of investigation on my bank statements i noticed a few months later the payments stopped and of course this corresponds with another repalcement bank card and tbh totally forgot about intrum as never noticed it coming out monthly anyways.

Aib said i was reviewing arrears letters until 2018, but since I reside in dublin and not my parents home address, I was missing these correspondences..

I always thought I was fine as icb never showed up anything years ago, I was approved a 20,000 euro loan with aib which Ive recently finished off a year early ( just paid off a lump sum of 5k last month to finish it). So I've always been under the impression I had no debt.

Aib said they approved my first smaller amount loan last year as they only looked at icb and now the ccr is showing this.

Do I have any chance at all...should I go to intrum and pay this off straight away and will this show on my ccr for 5 years now.

Feel like I've wasted so many years building up a good credit rating paying my loan on time monthly, thinking I had no debt, saving consistently and its going to kill me to start waiting 5 years again..

I haven't replied to aib yet as would like external advice first

Thanks
 
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