Do I Have to Pay Global Debt Recovery on behalf of Cabot?

Did you get a debt letter from a company you don’t recognise? Is it about a debt Cabot was chasing you for? You could be asking, ‘do I have to pay Global Debt Recovery or not’?

If you’re one of the many people who get nasty letters from Global Debt Recovery, this post is for you!

Do you have to pay Global Debt Recovery?

You might not have to pay Global Debt Recovery.

If you genuinely can’t afford your debt repayments then looking into whether you could have your written off might be just what you need. 

If you want to find out whether you qualify for having debt written off or payments lowered then fill out the short form below.

Who is Global Debt Recovery?

Global Debt Recovery (GDR) works on behalf of Cabot Financial and other companies. Their core business is debt recovery and their offices are in Surrey.

That said, GDR does also buy third-party debts at a fraction of their value and then chases people for payment for themselves!

In short, Global Debt Recovery can also own debts the business purchased from other companies!

So if you owe money to Cabot Financial, chances are you’re being chased for payment by Global Debt Recovery!

Is GDR a legitimate regulated debt collection agency?

Yes. Global Debt Recovery is authorised and regulated in the UK by the Financial Conduct Authority (FCA).

The debt collector doesn’t appear to work internationally even though their name suggests they do.

They are also recognised members of the Credit Services Association (CSA) and must follow their Code of Practice.

Can you lower your repayments?

If you’re struggling to pay back your debt, then you might qualify for a debt solution.

Some solutions lower your monthly payments while others write off a portion of your debt. 

To find out whether they could work in your situation, hit the button below.

Get Started

Who uses the debt collection agency’s services?

Global Debt Recovery has a list of UK clients which includes Cabot Financial and credit card providers and financial institutions like Lloyds Bank.

Take a look at the message one person posted on a popular forum about GDR when they contacted them:

Source: Moneysavingexpert

Why would Global Debt Recovery contact you?

Global Debt Recovery likely contacted you about a Cabot Financial debt because Cabot passed your information on to them.

Or maybe GDR purchased the debt from Cabot!

Is the debt too old to enforce?

You should always check whether a debt is too old to enforce because it’s statute barred. A court won’t hear a case where a debt is too old so you don’t risk getting a County Court Judgement either!

However, not all older debts are statute barred because they need to meet specific criteria. That said, it’s worth establishing if the debt GDR is chasing you for is too old to enforce.

When is a debt statute-barred?

A statute-barred debt must meet the following criteria:

• It must be six years old
• No contact was made with the creditor and nobody admitted owing money in six years
• No payments were made towards settling it in six years
• There isn’t already a County Court Judgement registered against the debt

Is the debt really yours?

Once you’ve established whether the debt is statute-barred or not, the next step is to find out if you owe the money!

You should write to Global Debt Recovery as soon as possible asking them to ‘prove the debt’.

They should provide you with hard proof you owe any money. It’s not to you to prove you don’t!

You should never accept a debt collector’s word for it. GDR must send you copies of an original credit or other agreement if they haven’t already!

Plus, the copies must be authenticated either by the original creditor or an authorised person!

Should you ignore the debt collector?

No. Don’t ignore Global Debt Recovery when they get in touch with you. Even if you know the debt isn’t yours or that it’s too old to enforce!

Ignoring a debt collector just makes the situation worse and more stressful further down the line.

You should write back to GDR to tell them they’re chasing the wrong person. Or to tell them the Cabot debt is too old to enforce.

But don’t bin the letter and think the problem will just go away because it won’t.

What happens when you ignore a debt collector?

When you bin a letter from a debt collector whether you owe the money or not, the problem remains. Plus debt collection agencies are notoriously persistent and will chase you for payment no matter what!

You could be missing out on the following when you ignore Global Debt Recovery:

• Establishing the debt is statute-barred which means it’s too old to enforce through the courts – more on this later
• Determining that Global Debt Recovery is chasing the wrong person because the outstanding debt is not actually yours
• Being offered a payment plan by GDR if the debt is proven to be yours
• Having some of it wiped off if Global can prove you owe the money

Check out what happened to one person who posted this message on a forum:

Source: Moneysavingexpert

Will Global Debt Recovery start court proceedings?

Yes. You could face a court hearing if you ignore and don’t pay a proven debt. You’d get lots of threatening letters then a Letter Before Action notice.

If you don’t respond to the notice or ignore it, a debt collector could advise their client to take you to court!

You may not realise the following happens:

• A court issues an order for you to pay the amount owed and a County Court Judgement is registered on your credit file
• The judge issues an order for enforcement agents (bailiffs) to visit you at home
• Enforcement agents have the right to seize your possessions to recover the money owed
• Your possessions could be sold at an auction
• A judge could issue an attachment order on your earnings or even on your bank account

It’s worth noting that if Global Debt Recovery purchased the Cabot debt, they could take you to court themselves.

The threat of court action may just be a tactic to scare you into paying. But it could also be a genuine threat!

What can debt collection agencies legally do?

Debt collection agencies like Global Debt Recovery have the right to contact you about an alleged Cabot debt. 

As such, GDR can do the following which falls under UK law:

• Contact you by phone, text, email, letter or in person
• Discuss a debt with you discreetly, showing empathy and understanding of your personal circumstances
• Ask that you pay the amount owed to them instead of an original creditor

What can’t Global Debt Recovery do?

Global Debt Recovery must follow the law and the CSA Code of Practice when they contact you over an alleged Cabot debt.

There are things they can do and say and things that are unlawful. For example, a debt collector cannot legally do any of the following:

• Force their way into your property
• Clamp vehicles, or seize possessions
• Visit you at your place of work unless you agreed to them doing so
• Discuss the problem with your employer
• Talk to your neighbours, a family member or your friends about an alleged debt you owe
• Urge you to borrow more money to pay what’s owed on the debt
• Harass you with phone calls, texts, and emails
• Threaten you
• Pretend their powers are the same as bailiffs (court-appointed enforcement officers)
• Show you documents and papers that look like they were issued by a court

Debt collectors must respect your privacy and if they don’t, GDR would be breaching the UK’s privacy laws!

Moreover, all accredited and authorised debt collection agencies must follow the law. If they don’t, you can report them to the Financial Ombudsman Service (FOS).

Can you stop GDR from contacting you?

No. It’s not possible to prevent a debt collection agency from contacting you over an alleged debt. They have the right to get in touch but they must follow the law!

However, you can write back to a debt collector telling them how you’d like to be contacted. For example, it’s a good idea to send a letter to them by registered post asking them to only contact you in writing.

Global Debt Recovery must respect your request, but if they don’t and they harass you with phone calls, you can report them to the FOS.

However, you should first file a complaint with the debt collector and then lodge one with the Financial Ombudsman Service.

It’s worth noting that harassment is against the law and you could receive compensation if the FOS rules in your favour!

How do you contact Global Debt Recovery?

I’ve listed ways you can contact Global Debt Recovery in the table below:

Can you complain about Global Debt Recovery?

Yes. You have every right to file a complaint with Global Debt Recovery’s head office. You should allow them the time to put things right.

However, when you feel GDR isn’t dealing with your complaint correctly, you can then report the debt collection agency to the Financial Ombudsman Service!

Your complaints must be made in that order!

Is there any free debt advice in the UK?

Yes. Leading charities in the UK provide free debt advice. You can contact them if you’re worried about debts and how to resolve a demand from Global Debt Recovery.

I’ve listed three of the main charities below:

• National Debtline 
• Citizens Advice
• Step Change Debt Charity

“It will only get worse” 😩

It’s cliché to say, but with debt it’s true; the longer you leave it, the worse the problem gets. 

There are straightforward and effective ways to deal with debt, but you have to know your options. 

Fill out the short form to find out about the debt solutions that could reduce your monthly payments or even write off some of your debt.

Get Started

Lastly, do I have to pay Global Debt Recovery on behalf of Cabot?

Whether you pay Global Debt Recovery or not depends on several things. For example, is the debt statute-barred? Is the debt collector chasing the wrong person for a Cabot debt?

You should only pay a debt collection agency when you’re sure the debt is yours and that it’s not too old to enforce.

Moreover, it’s always a good idea to seek independent advice before you admit, agrees or signs anything with a debt collection agency.

That said, it could be a disastrous decision when you ignore Global Debt Recovery. Even if the debt isn’t yours, it could have serious consequences that harm your credit rating!