capQuest

[akuma]

Hi All,

In May 2001 I originally took a loan out with Sainsburys Bank.

After losing my job and in difficullty paying back the monthly payments my loan was transfered to Blair Oliver Scott. Since then I was paying back until I moved recently. I didnt tell them where I moved but I assume my landlord told them I no longer lived there.

Now capquest just sent me a letter that I need to pay back £3000 otherwise they start legal action.

Now I need to know what my options are. Should I ignore capquest letter?

 

Any help in this matter would be greatly appreciated.

 

thanks

[lickthewallfatboy]

a good idea would be to send them the CCA request letter and see what comes back.....

[akuma]

Do I phone them or by post?

[lickthewallfatboy]

by post.....the letter is in the template section

 

never ever phone a DCA,unless you're very experienced and can run them ragged

[akuma]

Out of interest who shall I make out the Postal Order out to?

Sainsburys (original loan) or to capQuest?

And thank you for the quick reply.

[Huff&Puff]

Make it out to whoever is currently chasing you, Capquest in this case.

[akuma]

I sent the CCA request letter and I received this letter from capQuest

 

"Further to 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 28 days whilst we obtain the information required.

 

If you have any proof of payments or correspondence that would assist with your query please forward these documents to our Collections Administartion department."

 

So whats the next step they would do and how should do I react?

 

thanks

Edited January 2, 2010 by akuma
thanks

[teaboy2]

You dont need to do anything and you should certainly never send them information that would help them. So dont do anything until they send you a copy of the CCA, bear in mind after 12+2days from the date of your CCA request they will be in default and can not pursue you or enforce the debt till they do produce the CCA.

 

once you have the CCA post it up on here and we can tell you if its valid or not and what your next step should be, until then, just sit back and relax.

[akuma]

Hi,

I just received this letter this morning;

Further to your recent correspondence.

 

A letter telling me ways I could pay and also a photocopy of the original Credit Agreement between me and my Sainsburys bank.

The agreement is signed and dated by me on the 5/5/2001

 

I need to reply within couple of days otherwise they will pass on my account to their collection department.

 

 

What are my next options?

 

cheers

[Huff&Puff]

Post the agreement that they sent, with all your details removed, and let's have a look at whether what they sent is worth the paper it's printed on.

[akuma]

Added jpgs of scanned letters and agreement.

 

If I ignore these letters from CapQuest can they legally come down to my house with baliffs? Or would they take me to court first?

20100122092952_00001.pdf

20100122092952_00002.pdf

20100122092952_00003.pdf

Edited January 22, 2010 by akuma

[IainHL]

akuma, I am having a problem opening your third attachment.

 

It is court first, then bailiffs.

 

Since their first letter says they have purchased the debt I would have thought you should have received a Notice of Assigment. However I am not certain, and would look for clarification from more experienced people. A NoA would confirm that they are entitled to receive the monies (if people think your agreement is enforceable, and I can't see anything wrong with it).

 

If they have genuinely purchased the debt, and people think the agreement is enforceable please be aware they will probably have purchased this for between 10%-20% of the value of the debt. If you have funds available then bear this in mind as you make an offer for full and final settlement.

[akuma]

IanHL, thanks for the reply. Should I phone them up and offer a settlement figure as I want to really close a line under this.

[Zimmie]

Do not phone Capquest.....ever! Any correspondence should be written and sent recorded delivery...although from personal experience that doesn't mean they will read or respond to it, but it does mean you have a paper trail for reference. If you phone them they will tell you anything but probably won't honour what they say....so they could agree over the telephone to accept a settlement figure...you pay it...then they will chase you for the remainder. Get everything in writing.

 

If you do set up a payment agreement with them, do not use direct debit, set up a standing order, that way you stay in control of the amount...and keep your payment agreement letter safe.

 

I suggest hanging on until someone more knowledgable takes a look at your agreement.

 

All the best.

[akuma]

Zimmie I guess you had a personal experience with Capquest. What did you do i the end to resolve your situation?

[Hardupnotfedup]

There are ways to do F&F Offers it is important that they are done properly preferably through a third party which can be a relative, Also I believe all offers should be done with the heading (Without Prejudice) on any offer letter you might send.

[akuma]

What is F&F offer?:idea:

[Hardupnotfedup]

The debt companys buy debt for between 10 and 20% of their value so your alleged debt was probably bought for a maximum of £600 so if you offered £800 they would still make an easy profit, but you have to be careful and get all in writing because they could take your 800 and then sell the remaining 2200 to some other DCA or continue chasing them selves that is why it is important to do everything in writing so you have proof

[Zimmie]

Hi Akuma, yes I have personal experience of Crapquest, I've been paying a token payment to them for over 3 years (amount agreed by them as per their agreement letter). They have constantly sent me threatograms saying I'm not paying/ignoring their letters. They have ignored all my letters to them including a letter of formal complaint and a CCA request. Then early December '09 they sent me a Statutory Demand, I sent a 2nd CCA request which they acknowledged but have not complied with. I'm in Court next Thursday for the set aside hearing

So sadly the issue isn't resolved yet, but hopefuly will be very soon.

 

I'm not sure if they purposely ignore correspondence they receive, or if they are just totally incompetent...I peronally think both.

 

The moral is NEVER TRUST THEM.

 

btw F&F offer is full and final offer.

[akuma]

Thank you Zimmie for the information.

How do I go about writing the F&F letter? Or in fact reply to their letter as described above?

I dont want them to pile more charges ontop of the debt.

[akuma]

Sending this. Let me know if this would fine. Thanks.

 

 

 

"I write with reference to the money which you are claiming on the above account.

I can confirm that I am unable to offer to pay the money in full due to my financial and personal circumstances. However, I can raise £300 and I want to offer this as an ex-gratia payment in full and final settlement of the account. This offer is made on the clear understanding that, if accepted, neither you or any associate company will take any other action to enforce or pursue this debt in any way whatsoever and that I will be released from any liability.

I also request that, if accepted, you will mark any entry on a credit reference agency file relating to the above account as "satisfied" in full.

 

 

Payment can be made within 1 month of receiving your written agreement of this offer and method of payment.

I look forward to receiving your reply.

 

 

Yours faithfully"

[Huff&Puff]

The agreement does look enforceable, which is unusual for one of that period Did you ever receive a Default notice and Termination notice?

[akuma]

The agreement does look enforceable, which is unusual for one of that period Did you ever receive a Default notice and Termination notice?

 

sadly no.

[Huff&Puff]

Not sadly at all, without those they cannot enforce. I think maybe a Subject Action Request to the original creditor may be in order here. It will cost you a tenner, but it should produce all the paperwork that they have.

[IainHL]

akuma, I understand your desire to resolve matters speedily. However, before rushing to make a F&F to them I do think you should have confirmed that they do now legally own the debt.

 

Their first letter says they have bought the debt. Therefore I believe you should have recieved a Notice of Assigment, either from them, but more convincingly (if you get my drift) from the original creditor. Could others please confirm that?

 

I would hate for you to give CapQuest your money only to discover that someone else came along later and told you they had no right to it. Unfortunately in this "game" (I do slightly hestitate to call it that because it is about people's money, livelihoods, hopes and aspirations) you do learn to work slowly towards your goal.