cabotfinancial trouble please help

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fogfurn

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hi not to give to long a story, owe 4500 to bank of scotland for a while now, in beginng march they posted me a letter saying i needed to contact them urgently. i did, they asked for full payment or monthly plan . i asked how much, they said 100(all very relaxed over phone) ok i said i would set up standing order and they would email me details (no one mentioned if this was to be set up immediatly) so i set up standing order for end of april as that was when i could afford to start paying, but only set it as 80 euro, ( why? i dont know, stupid of me now i know) . i sent an email explaining that standing order set up from end of april, however, i did not mention i only set it for 80. end of april and 80 euro went out. into may and phone call came that i missed message left for me to call urgently. i rang, very obnoxious man who did not give me a chance to speak said i broke agreement, i could not get a word in edgeways , so i hung up,(yes, mistake 2, i know, stupid i am).now to day i got letter from belgard and company ( i know there part of cabot) saying that if i did not send bank draft for full amount in 7 days they will ;execution of sheriff againist your goods and publication in gazzet.; .dont care about gazzet but do about sherrif. please what di i do, i dont have 4500. can they do this or are thet trying to scare me. any advice please
 
They can't do anything that fast, ring MABS helpline in the morning, they will give you advice. 0761076000
 
Can you afford to pay the €100 per month?

If so change the standing order to that amount. If not stick to what you can afford.

Unless you have a ferrari or a Monet you will have no worries from the sherrif.

I've been threatened myself with publication in the gazett. At this stage I couldn't give two hoots if my name was printed in the front page of the national press.
 
thankyou wishes, yes i have changed my standing order to 100 euros and now i can afford that. should i ring them or just leave it as is now, cant stand the way they talk to you over the phone, im very good at writing letters, but not so good on phone and yes i dont give a????? about my name been printed either. forgot to say to that its no longer bank of scotland thats dealing with my debth but cabot
 
thank you wbbs, made appoinment with mans and will see me on monday earlierest. just wandering if i made an offer of a percentage of the amount owed, i am working and could maybe try and get a small loan from some where(could be almost impossible) but reading other posts some people seemed to be succesfull. maybe 1500 could be arranged. what do u think, i would live on bread and water and probly miss 1 month morgage payment to do this, or am i mad even to consider,
 
Sorry, im just a bit confused.
The headline says Cabot financial, but you owe bank of scotland (who are actually being run for collections by certus) but you got a letter from belgard and company?

I would just keep paying the 100 per month and keep it at that....they will not do anything as somepayments are being made and wont get anymore in going to court. It has nothing to do with the sheriff unless its the irish Revenue that you owe so would not worry about that. It is a private matter and you dont owe the goverment
 
fogfurn said:
i rang, very obnoxious man who did not give me a chance to speak said i broke agreement, i could not get a word in edgeways , so i hung up,(yes, mistake 2, i know, stupid i am).now to day i got letter from belgard and company ( i know there part of cabot) saying that if i did not send bank draft for full amount in 7 days they will ;execution of sheriff againist your goods and publication in gazzet.; .dont care about gazzet but do about sherrif. please what di i do, i dont have 4500. can they do this or are thet trying to scare me. any advice please
Click to expand...

Regardless of who is chasing you for money owed they have to abide by the law. Read this very informative key post about court procedure for debt cases.
 
whattodo? said:
Sorry, im just a bit confused.
The headline says Cabot financial, but you owe bank of scotland (who are actually being run for collections by certus) but you got a letter from belgard and company?

I would just keep paying the 100 per month and keep it at that....they will not do anything as somepayments are being made and wont get anymore in going to court. It has nothing to do with the sheriff unless its the irish Revenue that you owe so would not worry about that. It is a private matter and you dont owe the goverment
Click to expand...

Not correct...they can still go for judgement , and the sheriff can be asked to collect if the court order is broken - the sheriff's not just for Revenue Commissioners! Saying that, as wishes has stated - not realistically going to happen.

Unless you communicate with Cabot/Belgard how are you supposed to reach a mutual agreement with them - yes, they can be arsey on the phone, but you have to reach agreement with them to accept the €100 per month! You can't just pay something and expect them to consent to it.

In terms of settlement, do not be telling them that you borrowed from another lender to settle it - if you get the money from family, and it's all they can afford to give you, fine! You can probably expect to settle for around 40-60% of the balance, but you will have to show inability to pay, and given that you can pay them €100/month now, they will probably not accept a settlement and take the €100 - bear in mind, at this stage, you probably wont be able to borrow the money, as your credit record will have been affected.
 
Cabot Financial sometimes buy debts that are non performing from lenders also.
They decent people to deal with,ring them yourself then they will want a statement of your financial position, then you make an offer, if they dont own the debt and are collecting on behalf of Bank of Scotland you wont get a decision for about 2 weeks,if you could borrow about 25% of what you owe they may settle for that but ring first thing in morning yourself and you will be pleasently surprised and will have a good week end
 
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