Irish Credit card debt from 2004

[ddoc2]

Hi All,

 

I have lived abroad since 2003 where i had a credit card with bank of Ireland.

 

My parents two weeks ago recieved a letter from a company called cabot advising I owed E1200 and you know the usual story please contact immediately. The funny thing is I do remember not paying this off fully but whats really suprising is this is the first letter ever recieved by the bank or anyone else.

 

A letter has since been sent by their solicitors and as I was home for the weekend I called them and agreed to a settlement of 80%. They have confirmed by email that the bank in question will accept this and have given 14 days to pay. I have also requested the initial signed agreement not yet forthcoming.

 

My issue is not a moral one but a pratical one, I have decided to pay the 80% and hopefully be done with it. I was a bit young and stupid and just want to pay now.

 

As I am now based abroad how do I pay this without risking it effecting my credit rating which is unblemished (I am in th UK by the way) - could i send the money to a relative to pay I dont want to give my current address for the simple reason is I have heard bad stories on here and other places about these guys e.g advising payment is complete and then chasing for intereste etc. Also I actually work in banking now myself(I know its embarassing) and I do not want my past linked to my current debt free life at all - when I pay this it wont be noted on any uk file will it?

 

I just want to pay what we have agreed and be done I am not concerned with it being on my irish credit file as I wont be back for a long time , I believe it will stay for 5 years

 

Would appreciate some urgent help

 

Thanks in advance

[cerberusalert]

Morally the debt may exist but legally they cannot take any enforcement as it will be Statute Barred. It cannot affect your credit file in the ROI or anywhere else for that matter.

[cerberusalert]

Just to put this into perspective, the bank would have sold this a/c long ago for between 7 & 20% of its value & then claimed tax relief on it. Cabot would be more than happy for you to pay 80% on it as it gives them a whacking great profit on a debt that is not worth the paper it's written on.

[ddoc2]

Morally the debt may exist but legally they cannot take any enforcement as it will be Statute Barred. It cannot affect your credit file in the ROI or anywhere else for that matter.

 

Ok the problem here is I vaguely remember getting an email about this , it was an

Old email address and around 2008 , I don't even remember if I replied , if I did would that mean its not statute barred ? I seem to have read somewhere that's the case.

how would I find out if statute barred for definite ? Ask the solicitor?

I am honestly happy to pay it I am more concerned with my credit rating in the uk

[ddoc2]

Just to put this into perspective, the bank would have sold this a/c long ago for between 7 & 20% of its value & then claimed tax relief on it. Cabot would be more than happy for you to pay 80% on it as it gives them a whacking great profit on a debt that is not worth the paper it's written on.

 

Ok this is getting interesting , Cabot advise they don't own the debt but are working for the bank are they lying ? I offered 500 initially and solicitor advised would have to be put to the bank - believe hI'm ?

Edited April 23, 2012 by ddoc2

[cerberusalert]

You would have needed to have made a payment or acknowledged the debt in writing & signed it.

how would I find out if statute barred for definite ? Ask the solicitor?

The onus is on them to prove that it is not statute Barred not you to prove it is & you don't need a solicitor to do that for you.

I am more concerned with my credit rating in the uk

Firstly they cannot register an Irish debt on a UK credit file it is not a UK debt & even if they could they cannot register a Statute Barred debt.

 

Personally I would keep the money & just send them this; http://www.consumeractiongroup.co.uk/forum/content.php?408-Letter-sent-when-debt-is-statute-barred

[cerberusalert]

Ok this is getting interesting , Cabot advise they don't own the debt but are working for bank of Ireland - are they lying ? I offered 500 initially and solicitor advised would have to be put to the bank - believe hI'm ?

The person you talked to was definitely not a solicitor, it was a telephone jockey who will tell you anything in order to earn commission. They are debt collectors that is all, my dog is better qualified to give legal advise than any of those muppets.

[cerberusalert]

Just to add, the bank will have sold that a/c along with thousands of others long ago just to clear their books of toxic debts.

[ddoc2]

The person you talked to was definitely not a solicitor, it was a telephone jockey who will tell you anything in order to earn commission. They are debt collectors that is all, my dog is better qualified to give legal advise than any of those muppets.

 

I spoke to a solicitor of the firm Cabot referred to, not the first line guy

[ddoc2]

Just to add, the bank will have sold that a/c along with thousands of others long ago just to clear their books of toxic debts.

 

Why would Cabot buy this if it is not enforceable , the 'solicitor' letter threatens bailiffs and publication in gazettes would they really do this !? To be honest that's a big concern my parents potentially having to deal with that

[cerberusalert]

Why would Cabot buy this if it is not enforceable

Portfolios of many thousands of debts are sold to the highest bidder. These portfolios have a face value of many millions and the buyers get a mixed bag which they then cherry pick. The debts which are difficult to collect such as 'Gone Aways' and unenforceable debts are sold on down the food chain or passed on to other debt collectors to try their luck. Other than the very basic details the buyers have very little knowledge of these a/cs & they certainly do not receive the paperwork such as agreements etc.

 

CAG have a mantra which is 'Do Not Speak To A DCA On The Telephone'. They do not tell you the whole truth, they will lie and try to intimidate you into paying them. The letters they send are also designed to intimidate , they are full of ifs & maybes. They cannot send in bailiffs without a court order, it is a ROI debt covered by the ROI Consumer Credit Act. To publish your name in the Gazette they would have to make you bankrupt, to do this would cost them more than the value of the debt a foreign debt at that. Technically speaking they could try to bring a legal action against you here in the UK because of cross border agreements between EU States but even in the highly unlikely event they tried you would have an absolute defence in law that the debt is Statute Barred and unenforceable.

[ddoc2]

Well explained , Ok do this is where we are at.

 

I have agreed in writing to pay 80% within two weeks

 

I have also asked for original credit agreement I am guessing I will never see this

 

I have no idea what to do now

Options as I see it

1. Pay 80% with no signed agreement ?

2. Offer less I don't want my parents getting letters

3. Email standard statute barred

And await response (will this already be statute barred on my credit file how does that work I know it stays for 5 years

My initial plan was to pay but all I have is an email saying acc would be closed in full do you think theres a chance they would come back for more money

 

Bit lost now

[cerberusalert]

According to OFT guidelines once you have notified them that the debt is SB unless they can prove otherwise they should stop debt collecting activities. They are allowed to ask you politely to pay, equally you are entitled to tell them to go forth. If they continue to pursue or harass for payment they would be liable to you suing them for harassment and also possibly be in breach of CPUTR.

[cerberusalert]

I have agreed in writing to pay 80% within two weeks

 

Doesn't matter, you can just tell them that after seeking advice you have now been made aware that the alleged debt is Statute Barred.

 

In law any payment you make on a SB debt is deemed as a gift from you to them. Any payment after a debt becomes SB does not unbar it, nothing can unbar a SB debt.

[ddoc2]

Doesn't matter, you can just tell them that after seeking advice you have now been made aware that the alleged debt is Statute Barred.

 

In law any payment you make on a SB debt is deemed as a gift from you to them. Any payment after a debt becomes SB does not unbar it, nothing can unbar a SB debt.

 

And on my credit file - am I right this debt will be sb on there now and removed completely after 5 years ? What I am saying is who updates it when and how

[ddoc2]

According to OFT guidelines once you have notified them that the debt is SB unless they can prove otherwise they should stop debt collecting activities. They are allowed to ask you politely to pay, equally you are entitled to tell them to go forth. If they continue to pursue or harass for payment they would be liable to you suing them for harassment and also possibly be in breach of CPUTR.

 

Ok getya

 

What would you expect their reply to be when I advise I believe the account to he statute barred

[ddoc2]

And on my credit file - am I right this debt will be sb on there now and removed completely after 5 years ? What I am saying is who updates it when and how

 

The reason being if I ever return to Ireland in say 10 years I would like to start with a clean slate , this was a mistake when I was young as I said

[cerberusalert]

And on my credit file - am I right this debt will be sb on there now and removed completely after 5 years ? What I am saying is who updates it when and how

It will have dropped off your credit file in the ROI, it cannot be re-entered. It cannot be entered on your UK credit file as it is not a UK debt.

[cerberusalert]

When a default is registered it is done by the original creditor. When the debt is passed to a debt collector they can update the default but they cannot register or reregister it.

[ddoc2]

When a default is registered it is done by the original creditor. When the debt is passed to a debt collector they can update the default but they cannot register or reregister it.

 

Aplogies , so after 6 years from original default it's marked statute barred and deleted then 5 years later - correct ?

 

Maybe I should apply to get my credit report just thinking it's only 6 euro

[cerberusalert]

A default remains on your credit file for six years, it should be registered within six months of the cause of action which is usually one month after the payment became due.. The SB clock starts from the cause of action.

 

The default automatically drops off your credit file after six years and cannot be reregistered.

[dx100uk]

its sb dead gone

 

forget it!!

 

dx

[dx100uk]

the otherway to look at it

is if you pay an SB'ed debt

 

you are funding the harrassment of other people

 

your money will not go off the debt

 

it will go to their profit pocket

 

use to fleece other mugs

 

dx

[ddoc2]

the otherway to look at it

is if you pay an SB'ed debt

 

you are funding the harrassment of other people

 

your money will not go off the debt

 

it will go to their profit pocket

 

use to fleece other mugs

 

dx

 

Ok do you know where I can find a statue barred default email for Ireland?

 

Also I ask again how can I tell if definitely statute barred? Would my credit file tell me if I got it ? Remember I said I may have emailed the bank about this in 2008 would that have restarted the clock ?

 

Lastly what would you expect the agencies response to be ? Are they legally obliged to prove its not statute barred ?

 

Please be clear in your responses as this is the crux as I see it

 

I will email them today

 

Thanks again

[ddoc2]

Ok do you know where I can find a statue barred default email for Ireland?

 

Also I ask again how can I tell if definitely statute barred? Would my credit file tell me if I got it ? Remember I said I may have emailed the bank about this in 2008 would that have restarted the clock ?

 

Lastly what would you expect the agencies response to be ? Are they legally obliged to prove its not statute barred ?

 

Please be clear in your responses as this is the crux as I see it

 

I will email them today

 

Thanks again

 

One more thing nobody has replied to

 

They say they have not

Bought the debt but work for the bank - is this a lie ?