Capital one

[steveab1]

Hi All,

 

Have just received a letter at my address in New Zealand from Capital One, they start the letter. " I am writing to advise you that your account is no longer being managed by the Debt Collection Agency who were acting on behalf of Capital One, your account has now been returned to Capital One ".

 

Is this normal behaviour for a creditor to farm out the debt on a short term basis and if they have no luck in getting any payments from the debtor they send it back? How long does it normally take for the creditor to sell the debt to a DCA on a permanent basis?

 

Keep up the good work.

 

Regards

[unclebulgaria67]

 

Is this normal behaviour for a creditor to farm out the debt on a short term basis and if they have no luck in getting any payments from the debtor they send it back? How long does it normally take for the creditor to sell the debt to a DCA on a permanent basis?

 

 

Yes they will keep farming it out to various DCA's or may sell it on at some stage. I am not sure that there is a standard process. They probably have so many debts on different accounts, that they do not look at individual debts that much. Logic would think that they would see a foreign address and put that on a list for international debt collection. But I doubt that will happen, as they may not want it recorded that you are abroad ( it could reduce the price). A relative of mine moved abroad and several debt companies knew their address abroad, but they never appeared to pass it on to other DCA's when debts were passed on or sold. So they then sent letters to the last known address which happened to be mine, as I stupidly allowed my address to be used as a forwarding address.

[horus]

When it was with the DCA did you send a CCA request or ask for a copy of your application?

[steveab1]

I do not reply to any letter - no reply at all, radio silence. They have no phone number so that is their only way to communicate.

[steveab1]

I will also admit to giving them an address which is technically a PO Box but with a proper number street town and country.

[cerberusalert]

DCAs are loathed to try and collect difficult debts which will cost them too much time, energy & money.

 

It could have been passed back to the original creditor for a couple of reasons but usually it's because they were only acting on their behalf. They will only try for a couple of months then pass the portfolio of debts back which will either be passed on again further down the food-chain or sold for a fraction of it's value and then tax relief claimed on it.

[horus]

When did you open the account and how was it applied for - over the phone, internet etc?

[steveab1]

When did you open the account and how was it applied for - over the phone, internet etc?

 

Around 1990 paper application I think.

[horus]

They probably won't have a copy of the application then, they lost a lot of the early applications and a lot of the others they have from this time are scanned copies of a blank form with your signature and a stamped signature on their behalf.

 

I had a similar scenario with them to yours - sent the DCA the prove it letter got a letter from them saying they were handing it back. Heard nothing for a while then got a letter from Crap 1 saying they were handling the account again that was around February 2011 - I've heard nothing since (touch wood)

[steveab1]

Had a letter from Capital One today, first letter in 3 years. "Statement of Activity", goes on to say "summary of activity on your account in the last 6 months, together with outstanding balance". Then it goes on to say if I have made a payment arrangement no further action need be taken, if I have no payment arrangement please call them on the number below.

 

Not sure why they have decided after 3 years to send a balance of statement for the last six months. Surely they must know that I have not made any "payment arrangement" with them. Don't know what there game is now but they can have more radio silence from me.

[unclebulgaria67]

Had a letter from Capital One today, first letter in 3 years. "Statement of Activity", goes on to say "summary of activity on your account in the last 6 months, together with outstanding balance". Then it goes on to say if I have made a payment arrangement no further action need be taken, if I have no payment arrangement please call them on the number below.

 

Not sure why they have decided after 3 years to send a balance of statement for the last six months. Surely they must know that I have not made any "payment arrangement" with them. Don't know what there game is now but they can have more radio silence from me.

 

Sounds like preparation for the debt being sold to debt collectors. These companies appear to hold onto debts for a few years, before they sell them on. I guess that they now think payment is unlikely, so time to sell the debt on. The letter is so that they can evidence to any debt buyer that they have written recently.

[steveab1]

Thanks for that . Looks like I'll have more letters soon from a different collection agency, doubt they'll have any success either.

[unclebulgaria67]

Thanks for that . Looks like I'll have more letters soon from a different collection agency, doubt they'll have any success either.

 

It will just be more hassle, due to the volume of communications. If you are in Ireland with this being a UK debt, I believe they could go to a court in Ireland, as there is a cross border agreement. This is down the historic links between the countries and people moving between them. Just something to be aware of, as some debt collection agencies might be more willing to look at this, when Cap1 would not have bothered. But not many debts are enforced using foreign courts, because it usually means incurring costs, which they might not get back.

[steveab1]

It will just be more hassle, due to the volume of communications. If you are in Ireland with this being a UK debt, I believe they could go to a court in Ireland, as there is a cross border agreement. This is down the historic links between the countries and people moving between them. Just something to be aware of, as some debt collection agencies might be more willing to look at this, when Cap1 would not have bothered. But not many debts are enforced using foreign courts, because it usually means incurring costs, which they might not get back.

 

How could they go for a EEO as they did not get a CCJ before I left the UK?

[unclebulgaria67]

How could they go for a EEO as they did not get a CCJ before I left the UK?

 

It would not be an EEO. I am sure I have read that UK/Irish courts have an agreement, where people can go directly to the court where the debtor is resident, be it UK or Ireland. I believe this is due to the nature of UK/Ireland links, where people move between the two countries.

 

But get local legal advice, if there is any such move.

[steveab1]

It would not be an EEO. I am sure I have read that UK/Irish courts have an agreement, where people can go directly to the court where the debtor is resident, be it UK or Ireland. I believe this is due to the nature of UK/Ireland links, where people move between the two countries.

 

But get local legal advice, if there is any such move.

http://businessandlegal.ie/enforcing-uk-debt-in-ireland-debt-collection-in-ireland-for-uk-creditors

[unclebulgaria67]

http://businessandlegal.ie/enforcing-uk-debt-in-ireland-debt-collection-in-ireland-for-uk-creditors

 

That seems to confirm the position.

 

Perhaps what I read relates to Northern Ireland and Ireland, because N.Ireland has a different legal system. Because they share the same island, with people crossing between the two parts on a daily perhaps it makes sense to have a different system for debts.