cabot financial letter

[Trudie2021]

Under GDPR rules a business must have your consent to make contact With you. I wonder would this reminder of the rules make them beck off ?

 

[AnnMcM]

They don't need your consent to make the calls. Under Consumer Protection Act they are entitled to call you between 9am and 9pm. Under GDPR they have an obligation to hold accurate and up to the date information about you. If you accept that the debt is owed and you have acknowledged it or paid anything in the past 5 years, i would recommend contacting MABS as it more than likely won't go away. If it is a old unacknowledged debt you can ignore it. But i would seek financial or legal advice and not only advice from a website.

 

[AnnMcM]

Don't engage with them Cabot have no power. I got so many letters with court date from them never replied to them, never beet to court either and nothing happen yet. I went to MABS they told me that the only thing i can get from not paying credit cards is bad credit because is unsecured loan. Well bad credit will go away after 5 years. with me has been over 12 years this is going on

You are correct that your debt will go away as it is unsecured and I presume you are not acknowledging it (same resets the clock) and presuming no legal action is taken against you by the creditor to secure their position . However, you are incorrect in relation to this person's problem. Their debt is now secured against their asset so will not go away. I would suggest going to MABS or making a payment plan or settlement offer. Should the debt be large enough, they may want to proceed further and get an instalment order against you or instruct the sheriff to take goods the value of the debt. As they have obtained a judgment mortgage that means that judgement was previously obtained against you. That judgment generates interest every year also. You should get financial and/or legal advice. Please also note that should the debt be large enough to warrant further legal action they are entitled to claim possession of your property as they have a judgement mortgage registered.

 

[demoivre]

If it is a old unacknowledged debt you can ignore it.

A creditor can still seek judgement for a debt after the 6 year time frame when the debt becomes statute barred. I saw a case recently where, after more than 7 years, a claim notice was received by the debtor. The creditor's solicitors were advised of the time frame and that the debt was statute barred. A notice of discontinuance was only issued by the creditor's solicitor after the debtor's solicitor delivered an appearance and defence ! The pertinent point is that the debtor's defence , where applicable, is that the debt is statute barred.