Cabot and CCR

Discussion in 'Banking, credit cards, etc' started by County2019, 2 Feb 2019.

  1. County2019

    County2019 New Member

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    4
    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!
     
  2. Brendan Burgess

    Brendan Burgess Founder

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    37,031
    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
     
  3. County2019

    County2019 New Member

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    4
    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).
     
  4. County2019

    County2019 New Member

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    4
    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
     
  5. HK1979

    HK1979 New Member

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    1
    Last edited: 8 Feb 2019
    ..
     
    Last edited: 8 Feb 2019
  6. County2019

    County2019 New Member

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    4
    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.
     
  7. Mimimi

    Mimimi New Member

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    3
    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!!
     
  8. RedOnion

    RedOnion Frequent Poster

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    2,681
    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!
     
  9. Mimimi

    Mimimi New Member

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    3
    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
     
  10. RedOnion

    RedOnion Frequent Poster

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    They can't pursue him through the courts.

    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.
     
  11. Mimimi

    Mimimi New Member

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    3
    Thank you!!
     
  12. Ninz77

    Ninz77 New Member

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    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
     
  13. RedOnion

    RedOnion Frequent Poster

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    Ask for a copy of your report and you'll see.
     
  14. Ninz77

    Ninz77 New Member

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    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?
     
  15. RedOnion

    RedOnion Frequent Poster

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    2,681
    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.