Capquest been unfair on what is owed on chain of refinanced Lloyds loans

[kingst1]

Hi, brandnew to the forum so first post -

 

My partner took out a loan for £4k going back to 2006 and

struggled to make the loan repayments and

was then pushed into taking an additional £4k by an ex partner!!

 

now i know the debt has to be repaid but the repayment plan that Capquest have set up means it will take her just shy of 40 years to pay back !!

 

the interest has gone out of control and the debt now stands at 12k !

 

she repayed the loan for over a year at around 150 pounds per month

- this does not add up to me and seems unfair that the amount owed is now 12k.

 

is their a way that the interest can be frozen and the debt repaid at an amount that is fair ?(actually pays the debt and not just the interest)

 

any help would be much appreciated

[maroondevo52]

Hello and Welcome,

 

What's the history of this debt, last payment made on the account before Capquest got involved ect.

 

 

 

I've moved this thread to a more appropriate Forum.

 

Regards,

 

Scott.

[kingst1]

hi

 

thanks for the speedy response

- i dont have much info on the debt appart from a statement from Natwest with payments taken of 25.00 from Capquest in May 2011

- looks like they have had the debt for nearly 3 years

[kingst1]

first loan - 1/11/2007 settled 21/12/2007 162 x 60 months

 

second loan - 20/12/2007 settled 23/04/2007 195 x 60 months

 

third loan - 23/04/2008 236 x 60 months ***still outstanding to Capquest***

 

this is the info i have pulled from experian reference the debt

- dates do not add up and

my partner does never remeber taking loans to this amount

- Natwest orignally gave the loan.

 

This was while she only had a weekend job !!!

 

banks are supposed to lend responsibily and this to me says they have not !!

[dx100uk]

CCA to crapest

sar to NatWest.

I hope you are NOT conversing on the phone either?

 

dx

[dx100uk]

first loan - 1/11/2007 settled 21/12/2007 162 x 60 months - £9720 [£7938 refinanced]

second loan - 20/12/2007 settled 23/04/2007 195 x 60 months - £11,700

third loan - 23/04/2008 236 x 60 months ***still outstanding to Capquest*** - £14,160

 

his is the info i have pulled from experian reference the debt

- dates do not add up and

my partner does never remeber taking loans to this amount

- Natwest orignally gave the loan.

 

This was while she only had a weekend job !!!

 

banks are supposed to lend responsibily and this to me says they have not !!

 

 

 

 

when the loans were each refinanced did she get a rebate?

has she had PPI?

dx

[fletch70]

Sounds to me like when each loan was taken out the previous one was settled. The problem with some loans is that when they terminate the loan they include all the interest they would have received over the course of the loan.

 

It may be possible to make a full and final offer if you can get your hands on a lump sum.

I guess she is paying 25 a month,

[dx100uk]

just remember that if Lloyds sold the debt to crapest

 

that means there is something WRONG with the balance

 

you need to SAR Lloyds and FIND IT.

 

they could now OWE YOU>

 

dx

[fletch70]

DX

You should know by now that the sale of a debt to a debt purchaser means nothing in relation to the validity of the debt. It is perfectly possible that a 100% enforceable legal debt is sold. It's all about business. If you don't believe me, which you obviously won't then ask people like Sequenci

[kingst1]

Hi all thanks for the input - what is a SAR ? I have not spoken with cap quest on the phone and don't intend too !

[fletch70]

A SAR is a request for all the data they hold on you. It costs £10 and there is a template in the library (top of page)