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Paying CapQuest £3 a month and they charge £13 intrest a month!! Can they do this?


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£2100 interest????? :eek::eek::eek::eek::eek:

 

They shouldn't be charging you ANY interest AT ALL!

 

I agree wholeheartedly here. I would write to them and threaten to suspend payments unless they agree IN WRITING to suspend all interest charges.

You should quote :

"If you were to pursue me to court, I would have the opportunity to make an offer of payment similar to the current one. However, once judgement is granted I understand that further interest will be suspended in any event. This course of action would only involve us both in extra expense and time wasted with court proceedings.

The offer of £____ per month plus suspension of interest is of course still open for you to accept."

This is an edited version of a National Debtline letter template that I used with all my creditors, and I have NEVER commenced repayments without their agreement IN WRITING to supend interest. No-one has attempted to sue me.

Take the initiative and take the fight to them.

 

This based on my own experience and is not backed up by any formal legal training. If you are in any doubt contact National Debtline yourself - their number is freephone and is freely availabe, and their service is entirely free of charge.

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£2100 interest????? :eek::eek::eek::eek::eek:

 

They shouldn't be charging you ANY interest AT ALL!

 

capquest, (Edit), how do they get away with it?

Edited by IdaInFife
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capquest, (edited), how do they get away with it?

 

They get away with it because people do not bother to find out their rights and therefore ALLOW them to do it. There is a wealth of information on this site and any number of people who are prepared to share their experiences - and it's all for free.

 

That said, when you do achieve a success, please remember to make a donation from 'your ill-gotten gains' to keep the site alive :-D

Edited by IdaInFife
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They have 12+2 days, they may say they will respond in 28 days because they are still trying to cloud over the law and make you think you've got something wrong.

 

Stay with advice on CAG, and follow the rules. You may find that you end up not having to pay them a penny more. :)

Be good to those who give you advice that helps - click the star to give them your thanks by way of a reputation credit.

 

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I've had the capquest annual statement too. I make a token payment as agreed by them. The debt is ever increasing by £70 a month interest, one month they added over £2100 interest!

They also have sent me loads of threatograms saying I was ignoring them and not paying...but when I sent a formal complaint about their behaviour it was them who ignored me! I must follow that up.

 

Re-do your formal letter of complaint, but this time make it to the OFT and copy it to Capquest. The OFT cannot act for individuals, but they WILL acknowledge your letter and add it to the growing pile that they are probably receiving and eventually they will step in, as they did with 1st Credit this year in February. From this point on send a copy of every letter received and every reply sent, to the OFT. If you do not have an all-in-one printer, you may need to invest 10p a sheet in your local library/post office - wherever you can get copies made. It will still be cheaper than paying Capquest's interest.

I dealt with Capquest sometime early last year. They very soon got fed up with me and passed my account on to someone else. They are like unruly dogs - if you shout back loudly and firmly enough, they run away whimpering.

 

This advice is from personal experience - nothing more.

Edited by luckysandpiper
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My direct debit is due to leave my account on th 3rd of the month. do i continue to pay them, or hold of until this is settled?

I wish to thank all the people who have taken there time to put down in writing what to suggest and do................................you have all been very help full.

I will continue to keep you updated...... thanks again cag's

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Put it on hold, and cancel that direct debit. Make it clear to your bank and the DCA (recorded delivery letter at the least!) not to attempt to get this Direct Debit through under any circumstances.

 

The CCA letter sent recorded delivery for track-and-trace purposes should be the first port of call, and once Capquest default on that (which they will) after the 12 + 2 (28 days is absolute rot!), you're not obliged to pay them or any other company in regards to this 'debt' - which Capquest haven't bothered to substantiate yet.

Edited by F_DCAs
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My direct debit is due to leave my account on th 3rd of the month. do i continue to pay them, or hold of until this is settled?

I wish to thank all the people who have taken there time to put down in writing what to suggest and do................................you have all been very help full.

I will continue to keep you updated...... thanks again cag's

 

As soon as the 12+2 has expired, I would have sent them the letter to be found as a template in The Consumer Forums - Debt Collectors (no. 20) and stop payments which you are legally able to do. As before, I recomend that you copy all this to the OFT in furtherence of your complaint about their tactics (assuming you have made one)

I have now done this with 3 DCA's and I am some £125 better off each month until they get their acts together.

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I would SAR both CapQuest and the OC to find out who actually owns the debt. If CapQuest have bought the debt then they cannot charge you interest. It would be interesting to see what your CRFs say.

 

This is only an opinion for anyone to evaluate for themselves, but it costs £10 to SAR a DCA and in return you frequently get anything but the Credit Agreement. If the DCA does not own the dept (simple assignment) he is obliged to pass on the CCA request to the true owner. If he owns the debt (absolute assignment) he is legally bound to have and produce the CCA.

If, in either circumstance, the agreement is not forthcoming, you can put the debt into FORMAL DISPUTE. The only way the DCA can get out of this is to take you to court, but to do so, he MUST HAVE the agreement and if he has refused to produce it for you he stands little chance of gaining enforcement.

You can, however, pre-empt this by applying for the CCA under the Civil Procedure Rules (Pre-action Protocols and Part 31.16) and under these rules a copy of the ORIGINAL signed copy must be produced, not a typed copy of the present-day agreements.

 

Try it - I have, and it costs nothing :p

Edited by luckysandpiper
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im waiting for a few debts to become statue barred. im confused looking at my credit report it shows the default but says started on then defaulted on. so does the time year limit start from started on or date defaulted on... my default started on 12/12/2005 but started in 2004? when does the 6 years start from

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You are quite within your rights to do this course of action. I did with all of my 23 accounts. Noone has had a payment from me for over a year. Plenty of letter tennis and empty threats ensued but I take it all with a pinch of salt.

If my post helped you feel better, click my scales.

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Well as from tomorrow it's been 12days plus 2, Capquest only acknoledge the the cca within a few days.

So i now send the default letter to them and stop paying, is this correct?????????

 

If anyone could help,

thanks

I agree with Overdone, and I've done the same, but recently. Send off the ACOUNT IN DISPUTE letter, cancel your payments and wait. If they send you rubbish and say the dispute's settled, send them a request under CPR and make them think you're prepared to go to court, and if they ignore you after 21 days, send a further copy as a reminder and if they still ignore you after another 14 days, file a form N244 with the court. That should make them take notice.

 

I have no legal training, just my own experience and just as others have shared theirs with me, so I do the same. You can shout every bit as loud as they do.

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Its up to you but it was advised to post early if you want the mail to get there on time

OFT debt collection guidance

 

Please remember the only stupid question is the one you dont ask so dont worry about asking the stupid questions.

 

Essex girl in pc world looking 4 curtains 4 her pc,the assistant says u dont need curtains 4 a computer!!Essex girl says,''HELLOOO!! i,ve got WINDOWS!!'.

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No it wont if sent today as the next national post strikes are friday and monday. Also we advise to post minimum recorded delivery so u can prove they recieved the letter if they claim to to have.

 

For a recorded delivery sent today it should be with them Wednesday at the latest.

OFT debt collection guidance

 

Please remember the only stupid question is the one you dont ask so dont worry about asking the stupid questions.

 

Essex girl in pc world looking 4 curtains 4 her pc,the assistant says u dont need curtains 4 a computer!!Essex girl says,''HELLOOO!! i,ve got WINDOWS!!'.

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No it wont if sent today as the next national post strikes are friday and monday. Also we advise to post minimum recorded delivery so u can prove they recieved the letter if they claim to to have.

 

For a recorded delivery sent today it should be with them Wednesday at the latest.

 

I agree with reference to recorded delivery (althought the tracking system appears to be out of action), however, for normal post, a letter will only take its place in the backlog already caused by the strikes in days past, which they are unlikely to clear in the four days working of this week before the next strike days.

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Thats also why we advise to send recorded delivery minimum. Also you may be asked in court if you have proof they recieved the letter which is where the recorded delivery slip comes into play as if there is a problem you can email RM to find out what has happened with the signature.

OFT debt collection guidance

 

Please remember the only stupid question is the one you dont ask so dont worry about asking the stupid questions.

 

Essex girl in pc world looking 4 curtains 4 her pc,the assistant says u dont need curtains 4 a computer!!Essex girl says,''HELLOOO!! i,ve got WINDOWS!!'.

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