Legalities Of Bank Selling Debts To Third Party...

[OleBanks]

Hi Everyone

 

What are the Legalities of Banks selling debt to third party.... Have been getting bullied by cap quest in relation to my debt that was sold to cap quest by CITICARD. The debt was sold to Cap quest in December 2005 for £6850, and since then the debt is gone up to £8800. Just under £2000 has been added to the account within 7months.

 

I phone Capquest and requested for an ageement at least to know on what term my account is been charged,but I was told is under the same term and condition that I had with Citi Card. I dont know my right regarding this account and they are charging interest to my account every month.

 

Can anyone please advice on the legalities of debts selling and what my rights are.

I want to stop payments until Capquest send me an agreement...can I do that or would it come back to hunt me.

 

Please Help!!!

[steveoram1]

Debt would have been sold to DCA for 10-12% of face value. Write to them with a CCA request enclosing £1 asking for a copy of the original credit agreement and the deed of assignment. They have to provide these within 12 days or they commit a criminal offence. If they have not provided these within 30 days the debt becomes unenforceable by law. I would also send a Data Protection Act request to both Citicard & Capquest enclosing £10 each. Once the debt becomes "in dispute" you may well find it reverts back to Citicard. I would claim all charges back from both of them.

[OleBanks]

Thanks for that, is there any other legalities along the line that I need to watch out for. I was going to stop paying them until they supply me with this agreement.

Is there a template for this kind of letter in this Forum?

[sequenci]

tell them to hold all action whilst this debt is in dispute.

 

if they moan, mention the oft debt collection guidance.

 

deal with them in writing only and keep copies!

[OleBanks]

I have stop the payment indefinately to Capquest today. But my only concern is can they set bailiffs after me to seize my belongings?

 

Please I need further details regarding this topic.

 

[sequenci]

I have stop the payment indefinately to Capquest today. But my only concern is can they set bailiffs after me to seize my belongings?

 

Please I need further details regarding this topic.

 

 

 

they can only use bailiffs if they get a court judgment on you.

[OleBanks]

Ok. Sorry to be a pain. At what point can they get this county court Judgement?

Would I have the orportunity to go to court and defend myself before they get this judgement against me or they can just do that automatically.

:confused: :confused:

[zootscoot]

They have to follow the same procedure as we do on here. ie prelim letter giving 28 days notice followed by letter before action after 14 days. However, If you tell them the account is in dispute they can not bring action against you.

[OleBanks]

ok, have sent a letter out to capquest today enclosing £1 P/O and I await their reply. I will keep this thread posted once I have a reply from Capquest.

In the light that I have anymore question I will post it in the thread

Thanks Guys

[OleBanks]

Hi guys am back again, got a reply from Capquest today and their letter reads:-

 

Dear Mr Olebanks,

Further to you recent contact with our office and your request for further information in relation to the above account, we would confirm that your account is now on hold for 28days while we obtain the information you require.

If you have any proof of payment or correspondence that would assist with your query, please forward these document, with a brief covering letter, to our collection administration dept, so that we can resolve this matter as soon as possible.

 

Are they for real? can you imagine ...I dont quite understand, what correspondence do this goon think I would have when am actually asking that I dont have nothing on the account been with them. Guys what do you make of this letter. Do I need to reply and how?what do I put in my letter? :confused:

 

The most annoying thing is when I call my Debt management guys to cancel capquest off my book with them, you would think the lady I spoke to at my DMP office is out to share what ever money I pay to Capquest.

The lady was indirectly telling ,me in a rude and aggresive tone and indirectly that I should not struck them off their book. The goon are meant to be looking after my interest really. What do you think I should do about my DMP? any idea. Please advice. I was going to write to my DMP CEO and make a complaint, what do you think guys. :confused: afterall I intruct them act on my behalf with my creditor, it should nt be a war to ask them to take them off should it?

 

I will wait for a reply on here before I decide.

 

Thanks

[zootscoot]

Hi Olebanks

 

NO don't reply to the letter and certainly do not send them any proof of payment or correspondence!

 

Sit quietly as the clock ticks by. Let them do all the running around and the last thing you want to do is to send them any reminders!

 

Regarding your debt management, it is likely that an arrangement has been made with all creditors which is dependant upon all debts sharing a percentage of what you can afford to pay. Does this sound familiar? If so if you pull the plug on one creditor the whole agreement becomes unenforceable. Which would be why the lady was none to pleased.

 

Hope this helps

[OleBanks]

Thanks you so much mate you've definately anwsered my question and yep it does sound familiar about the percentage been shared amongs the creditor.

But the point is my DMP guys doesnt need to write to any of the creditor because I wasnt going to reduce any of the creditors payment.

 

Since they wont be paying Capquest any more that mean they can slipt the capquet share on to the other creditor which increases what am paying them anyway that is the other creditors

 

The impression I have is if there payment is reduce then my DMP guys have to re-write to all the creditor to make a new arrangement.

Does this make sence?

[zootscoot]

You are probably better off awaiting the outcome of the CCA request before taking any action on DMP.

 

The question of rearranging the agreement is not quite as simple as you state. DMPs work on the assumption that all creditors are treated equally. If one suddenly drops out of the picture it may be seen that you favoured one over another and it may prove problematic getting them to agree another agreement.

 

I am a little concerned that Capquest have been pestering you if they are part of a DMP as they should know they are only entitled to their share and no more - to demand more is a fraud on the other creditors. You should bring this to the attention of your DMP guys.

[OleBanks]

Thanks mate I will wait for the outcome of the CCA before taking an action against the DMP guys.

To be honest I just do not like the way that lady at the DMP addressed me, in a manner that( I got my self into the mess in the first place). My debtness is not from going on exotic holiday or shopping spree. It was really caused by all this charges that kept going on my account.

 

Regarding the agreement I requested for,from Capquest I know a baliff guy that I play football with on sundays and he said he doesnt think capquest can get hold of the copy of agreement I requested for. He further said this kind of agreement doesnt exist and he doesnt know why DCA like capquest buy such a debt where a debtor can turn round and request for such agreement which by law am entitle to and they are not in the position to show it.

He thinks capquest will probably sell the debt to someone else.

 

What do you think?

[zootscoot]

I entirely sympathise about the charges causing the debt!

 

If Capquest can not prove that they own the debt they can hardly sell it to someone else. What can happen is that they pass the debt back to Citicard.

[OleBanks]

Thanks I just have to wait at see what happens now.

[OleBanks]

Hi again thread, Just got the same letter x3 from capquest. the letter read:-

 

Dear Mr Olebanks,

Further to you recent contact with our office and your request for further information in relation to the above account, we would confirm that your account is now on hold for 28days while we obtain the information you require.

If you have any proof of payment or correspondence that would assist with your query, please forward these document, with a brief covering letter, to our collection administration dept, so that we can resolve this matter as soon as possible.

 

The letter has already been sent to me last week. For a reason they've decided to send them again. I think I should have got the message from capquest with the first letter.

 

There was also another letter in another envelop requesting for my identity which reads:

 

Dear Olebanks,

 

Thanks for your recent correspondence

In order to progress this account, please furnish us with proof of your date of birth. A copy of your driving license,passport or birth certificate for example.

 

Mean while please be advise that we have placed your account on hold for a period of 14 days pending the receipt of this information.

 

We thank you for your kind attention in this matter and await your response.

yours sincerely

 

Capquest.

 

 

Guys what do you think they need this information for? should I send it? Please advise. :confused:

 

Thanks

[zootscoot]

Whatever you do don't send anything with your signature on it.

 

I'm not entirely sure if you are obliged to send this info or not. If they have been dealing with you for some time they should not require proof of identity.

 

Strange that they have asked for proof of date of birth as oppose to name and address. It maybe a stalling tactic.

 

I'll have a root round and see if I can find out if you are legally obliged to provide this info. Get back to you on this one.

[thewifeandI]

It sounds like they want to verify your ID prior to sending anything out. Delaying the ID will delay the start date of the CCA request and affect when their time to action the request runs out.

[zootscoot]

Can't find anything stating you are legally obliged to provide this info. It might be worth sending them a copy of birth certificate and or utility bill. But avoid sending them anything with your signature on and don't personally sign any correspondence.

[OleBanks]

Thanks alot guys.

@ zootscoot I will wait for your info. I will scout round myself to see if I can get hold of any info too.

 

Thanks:-D

[OleBanks]

Ok.

I will send a Utility bill

 

Thanks

[zootscoot]

Any news yet?

[jo5ephedward5]

i'm dealing with these - see my signature and here:

 

On Grumbletext.. Capquest Debt Recovery- Re "Re: Advice needed" posted by UpOverTheEyeballs at 12:46 15/08/06 ...thanks OTE.don't worry,I didn't take offence at your posting.The bailiff sitaution was for unpaid council tax,that has now been sorted and no longer relevant.I will send them a prove it letter,unfranked and bulked out with some junk mail as per your suggestion.Thanks once again for your help.Adea Grumbletext, UK consumer complaints about Capquest Debt Recovery - post your opinions, complaints, comments online or via SMS about Capquest Debt Recovery Capquest Debt Recovery complaint, Capquest Debt Recovery review, Capquest Debt Recovery opinion, Capquest Debt Recovery consumer review, Capquest Debt Recovery consumer complaint, Capquest Debt Recovery customer complaint, Capquest Debt Recovery consumer opinion, Capquest Debt Recovery customer opinion, Grumbletext

 

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[jo5ephedward5]

Hi again thread, Just got the same letter x3 from capquest. the letter read:-

 

Dear Mr Olebanks,

Further to you recent contact with our office and your request for further information in relation to the above account, we would confirm that your account is now on hold for 28days while we obtain the information you require.

If you have any proof of payment or correspondence that would assist with your query, please forward these document, with a brief covering letter, to our collection administration dept, so that we can resolve this matter as soon as possible.

 

The letter has already been sent to me last week. For a reason they've decided to send them again. I think I should have got the message from capquest with the first letter.

 

There was also another letter in another envelop requesting for my identity which reads:

 

Dear Olebanks,

 

Thanks for your recent correspondence

In order to progress this account, please furnish us with proof of your date of birth. A copy of your driving license,passport or birth certificate for example.

 

Mean while please be advise that we have placed your account on hold for a period of 14 days pending the receipt of this information.

 

We thank you for your kind attention in this matter and await your response.

yours sincerely

 

Capquest.

 

 

Guys what do you think they need this information for? should I send it? Please advise. :confused:

 

Thanks

 

your not required to send anything - they need to prove you owe teh debt not theother way round