Capquest/ Letter Re: Purchased Debt

[losingwilltolive]

Thank you both for your help---last payment showing was made on Feb 2004--

 

42man- with regards to the letter---as i did not actually formally request shall i still sent out the letter as suggested?

 

As i stated in one of my earlier postings all i did was to ask what this was allabout but at that point i did not actually send a formal request--

Please could you advice again

Thank you

[ODC]

Send them this letter now by recorded delivery. DO NOT SIGN it and send a £1 postal order.

 

I DO NOT ACKNOWLEDGE ANY DEBT TO YOUR COMPANY OR ANY COMPANY YOU CLAIM TO REPRESENT

 

Re: Account no: xxxxxxxx

 

This letter is a formal request pursuant to s.77/78 of the Consumer Credit Act 1974. I require you to provide me with a true copy of the credit agreement relating to the above account, together with any other documentation the Act requires you to provide.

 

I expect you to comply fully and properly with this request, within the statutory time limit. You are reminded that should you fail to comply with my request, the provisions of s.77(6) will apply.

 

If it is your view that you are not the creditor, s.175 of the CCA 1974 applies in the case of a simple assignment, and places a duty upon you to pass this request to the creditor. In the case of an absolute assignment, you are a creditor as defined by s.189. If you contend that you purchased the rights but not the duties of any agreement, you are reminded that s.189 of the Act is clear that an assignment is of both rights and duties.

 

Your attention is drawn to ss.5(2), 3(b),6 and 7 of the Consumer Protection from Unfair Trading Regulations 2008 (CPUTR).

 

I enclose a postal order in the sum of £1.00, which is the statutory fee. Note that these funds are not to be used for any other purpose.

 

If you are unable to comply fully and properly with this request, you should confirm this in writing at the earliest opportunity, and certainly within the statutory time limit for compliance, and return the fee.

 

 

 

 

 

It does seem strange that they sent you all the statements but not the CCA. They sent me a pile of these statements too and no CCA.

[losingwilltolive]

Many thanks---will do this now--

in the meantime ( knowing how they seem to operate) what if a Statutory demand lands on my doorstep??

Thanks again

[ScabHunter]

I think we need to start digging a lot deeper into this one as I suspect it is becoming serious.

 

Firstly, this alleged debt is not statute barred and will not become so until Feb 2010 so Limitations is going to be useless.

 

As of yet there is no CCA but we know that Egg is one of the few organizations which does produce valid CCAs in virtually every case.

 

Unless somebody can come up with something better than this the OP is in serious trouble.

 

losingwilltolive,

 

These statements you have been sent - have these come from Capquest or directly from Egg? Did you send an SAR to Egg? Did you send a CCA request to Capquest, and if so what happened?

 

The more details you can give us, the more likely it is we can find something useful.

 

What do you hold in the way of assets? Are you a property owner, and, if so, how much equity is in the property?

 

Are you on benefits or do you earn money in a job or business?

 

All of these factors infulence what might happen.

 

We need all the facts we can get at this stage.

 

SH

[losingwilltolive]

Hi,

Thanks for this--- i'll answer questions raised ( please see my responses in blue)...and i am worried about it as the amount being claimed is massive:

 

These statements you have been sent - have these come from Capquest or directly from Egg? Did you send an S.A.R - (Subject Access Request) to Egg? Did you send a CCA request to Capquest, and if so what happened?

These came from CAPQUEST--not yer SAR them or CCA--but will do so now

 

The more details you can give us, the more likely it is we can find something useful.

 

What do you hold in the way of assets? Are you a property owner, and, if so, how much equity is in the property?

no longer a property owner but still own interest in a business which failed---approx equity £20k

Are you on benefits or do you earn money in a job or business?

previously claimed benefits but now working

All of these factors infulence what might happen.

 

We need all the facts we can get at this stage.

 

SH

[ScabHunter]

Any idea why they sent you these statements if you didn't send an SAR or a CCA request?

 

Did you send them anything?

 

SH

[losingwilltolive]

yes-- rather naively,after i received a demand after 2 years of hearing nothing--- i wrote to them and simply asked what the reference number on the letter refered to---that was all i asked....

I then got a letter saying everything on hold---then this morning i was posted all the statements from 2001 onwards...

 

Hope you can further advice

[ScabHunter]

These statements could be critical, as they could contain evidence of unlawful charges which could allow you to substantially dispute the amount of any alleged debt.

 

If you receive a statutory demand, you will need to apply to have it set aside, and give a reason as to why it should be set aside.

 

One possible reason, quoted from the Insolvency Helpline site, is -

 

* The amount stated on the statutory demand is disputed.

 

If I was you, I would go through those statements, preferably with a yellow highlighter pen, and add up every charge that was ever on the account.

 

If you can prove that a large part of the alleged debt is unlawful, that will be reason for a set aside.

 

I would still get an SAR off to Egg demanding everything that they hold on you. From that far back, there may be things you have overlooked. We need to create as big a dispute on this account as possible.

 

Get a CCA request off to Capquest as well, to see if there is a valid agreement. With Egg there almost certainly will be, but it is never guaranteed. Yours might just be the one that got lost.

 

Get the CCA request off as soon as you can. Even if the agreement is genuine, it may not show up immediately, and all the time the clock is ticking down on the SAR. If they are going to issue a statutory demand, we want the account to be in dispute before that happens.

 

Have a look at those statements and see if anything there can help you. If you've got any questions, just come back here and ask.

 

SH

[losingwilltolive]

Thank you--I will start working on this and keep you all updated

[losingwilltolive]

Hello,

CCA request with £1 Po has been sent recorded delivery to CAPQUESt...

could you advice do i send a SAR as well or wait

Thanks

[ScabHunter]

I would send an SAR off to Egg as well. They have 40 days to comply with this, so the sooner it is done the better.

 

With an alleged debt of this age, there are bound to be unlawful charges which can be challenged.

 

SH

[losingwilltolive]

Ok--will do,

Could you advice what the next steps are from CAPQUEST---having only sent the CCA request today(05/11)-- could they simply receive this, gnore it and then choose to serve a 'Statutory demand' on me?

Thanks again

PS/ The SAR is the standard one which appears on this forum

[ScabHunter]

Ok--will do,

Could you advice what the next steps are from CAPQUEST---having only sent the CCA request today(05/11)-- could they simply receive this, gnore it and then choose to serve a 'Statutory demand' on me?

 

Yes, they could. That is why the CCA request should have gone off long before now, but it is too late for that now.

 

Go through those statements you've got and find as many unlawful charges as you can. That is going to be your best defence if they issue an immediate Statutory Demand.

 

Remember the timescale for a CCA request is 12+2 days. They will be in default of this before any set aside hearing.

 

If they don't come up with the agreement, they are less likely to issue a Statutory Demand.

 

There really is nothing more you can do now other than fire off that SAR as quickly as possible, and go through those statements trying to find unlawful charges. The more the better.

 

PS/ The S.A.R - (Subject Access Request) is the standard one which appears on this forum

 

The letter has already been posted in this thread by 42man. Get it off as soon as you can.

 

SH

[Adam Smith]

Hi guys

 

I have a similar scenario to this however it is a little more sensetive due to my current work situation. I have tried to put in as many facts as possible.

5 years ago (Nov 203) my Egg card account which had a balance of £8,400, ran into default.

I was not going through a very good period in my life and made a very irresponsible decision to avoid the debt.

The last contact I had with Egg was Nov 2003.

I have put the debt to the back of my mind, aware that there is a law stating that a company only has 6 years to recover debts.

I am now on the voters roll, my credit rating is fair, with no adverse credit listed at all, and I have just secured a job as a trainee financial advisor. Things are on the up and I am much happier now that I am doing things properly!

I have just received a letter from a debt recovery agency (capquest), telling me that they have just bought a debt from Egg, and that I owe £12,800.

I have until 12th November to contact them before they contact their solicitors.

I have not got any savings, and I have personal debts of about £5k that I am servicing well.

I can NOT have an IVA or I get fired, I can not get a CCJ or I get fired. I cannot really make any kind of ‘arrangement’ that will appear on my credit file, of I will not be able to pursue my new career in finance.

Clearly I am not looking for sympathy, I would be very, very, grateful for practical and accurate advice.

If I make an arrangement will this company register something on my credit file?

I have not yet made any kind of response to the letter so far.

 

Now - if i move house and don't put myself on the voters roll I'm fairly sure i'll be kn the clear.

 

I have some reservations about requesting the CCA as it means Capquest have a confirmation that they have located me.

 

I would be grateful for any advice.

 

Best regards

 

Adam

[ODC]

Unfortunately you alleged debt will not become Statute Barred until Nov 2009 unless of course you live in Scotland. Sending a CCA to Crapquest would seem to be your best bet in the meantime. Its possible that they may not be able to produce a valid CCA. I am waiting 9 months on one (not that it matters now as its already Stat Barred), If Crapquest can come up with a properly executed CCA then you should be able to negotiate with them. Under NO CIRCUMSTANCES phone them. Keep a paper trail of every communication.

[ODC]

Hello,

CCA request with £1 Po has been sent recorded delivery to CAPQUESt...

could you advice do i send a S.A.R - (Subject Access Request) as well or wait

Thanks

I would wait on sending an SAR to Egg. You have all their statements which will show you the amounts charged for unpaid DDs and Late Paymet charges as well as the interest. If you look at the last few pages you should see where the account has been charged oo and the interest probably credited back to your account.

[losingwilltolive]

Thank you all again---

Been going through the statements that were sent to me---they are a little weird as they all stop in march 2005---

Also i was quite sure the last payment made in 2004..but statement also shows a credit in 2005---

at a later date am i allowed to ask them to prove these credits??

 

The charges for unpaid DD ="£20 each,

and every month alot of interest has been added--- but no other charges appear on statement---

The statement appear to be copy state,ments

my only confusion is that the statements provided end in March 2005--so not what happened from March 2005 to October 2008

Any further advivce much appreciated- in the meantime i will keep you all informed as to their response to todays CCA request

[Adam Smith]

do you know when and if i get to the stage where i am negotiating with capquest about the alleged debt, whether or not they can and/or will touch my credit file?

And also if they do, in the 'account type' heading will it say 'debt collection agency'.

Also - do you know of any situation where egg have not managed to retrieve a cca?

sorry for all the questions, I just can't afford to let this screw things up!

 

Many thanks for your help so far

[losingwilltolive]

Hi Adam,

It would be better if you opened up a new y=thread as otherwise could get a little confusing

thanks

[ODC]

Thank you all again---

Been going through the statements that were sent to me---they are a little weird as they all stop in march 2005---

Also i was quite sure the last payment made in 2004..but statement also shows a credit in 2005---

at a later date am i allowed to ask them to prove these credits??

 

The charges for unpaid DD ="£20 each,

and every month alot of interest has been added--- but no other charges appear on statement---

The statement appear to be copy state,ments

my only confusion is that the statements provided end in March 2005--so not what happened from March 2005 to October 2008

Any further advivce much appreciated- in the meantime i will keep you all informed as to their response to todays CCA request

The alleged debt was probably charged off in 2005 and eventually sold to some parasitc DCA for about 10% of its face value

[ODC]

do you know when and if i get to the stage where i am negotiating with capquest about the alleged debt, whether or not they can and/or will touch my credit file?Unfortunately you may find they already have put a default on it

And also if they do, in the 'account type' heading will it say 'debt collection agency'.It will give their name but then everyone reading it will know what they are

Also - do you know of any situation where egg have not managed to retrieve a cca?They never produced one for me:) and now they are too late

sorry for all the questions, I just can't afford to let this screw things up!

 

Many thanks for your help so far

 

Do start your own thread please so we can keep you advice seperate.

[ScabHunter]

ODC,

 

I bow to your superior experience and knowledge, but I would like to know your reasons for advising the OP here not to get his SAR sent off as soon as possible.

 

These can take up to 40 days to come through (if they are complied with at all), and time is of the essence here. We all know Capquest's penchant for issuing Statutory Demands, so surely it is essential to move as quickly as possible. The CCA request should tie them up for a short time, so is it not imperative to get the SAR off and the clock ticking, bearing in mind that Egg usually do produce enforceable agreements?

 

Although the OP has some statements, it is not a complete set. And there may be other factors which the OP has overlooked that will show in the results of the SAR.

 

I would just like to know why you feel it would be better to hold off on the SAR for now?

 

SH

[ODC]

The main thing now is to get the SD Set Aside. This can be done by substantially disputing the debt. This is done by no CCA or the fact that their are so many extra charges on the alleged account that the OP can dispute. If the DCA come up with a valid CCA then the OP can apply to Egg for an SAR in order to get a more reasonable settlement figure. However if his Egg Statementas are like mine he will see that Egg have already credited the interest and the charges back to the account before flogging it.

 

As far as I am aware the fact that they havent complied with an SAR is not sufficient reason for getting an SD Set Aside. Bearing in mind that the 40 days starts from when the OP applies for the SAR then a delay may be advantageous.

 

Again this is just my opinion but each day brings the Statute Barred date closer or on the other hand gives the OP a better time frame to negotiate with the parasites.

[losingwilltolive]

update-- not sure when i should be hearing back from Capquest-- i sent off my CCA recorded delivery on 5th Nov- it was delivered to them on 6th Nov

Thanks

[losingwilltolive]

As still not received any response from Capquest- should i now send out that other letter informing them that they have not complied

thanks