Morgan Solicitors
Cabot Financial operates its own in-house litigation department, Morgan Solicitors, who have a wealth of experience in assisting customers in financial hardship.
Sometimes, and where appropriate, Cabot Financial takes legal action to recover a debt. When the Court accepts that a sum of money is owed to a creditor, they will grant a County Court Judgment (CCJ), which formally requests the Defendant to pay the debt. Generally following a CCJ the debt needs to be paid within a limited period, but sometimes the Court may accept repayments by instalments.
If you are a homeowner, and Cabot has assessed your situation carefully, it may, following a CCJ, apply to the Court to secure a charge against your property, known as a Charging Order. If a Charging Order is granted, the debt will be secured against your property and shown with the Land Registry.
Importantly, where a debt is secured against your home, it may be at risk of repossession if you do not maintain your payments.
