Old Capital One debt - not sure how to handle it.

[TickledPink]

We've been getting letters from Debt Managers (Services) Ltd. This relates to an old debt my wife had with Capital One which currently stands at £1691.05. She had been paying just £5 per month via direct debit but cancelled it in May because she thought it had been paid off. She'd received no statement from Capquest so had no idea where she stood with the debt. I don't think she realised just how big her credit card debt had been.

 

I know that the debt itself is more than 6 years old now but as she had been paying it off I'm not sure where the law stands on it.

[AndyOrch]

Thread move to General Debt Collection

[Desperate Daniella]

Hi there,

 

The date when it becomes statute barred is six years from the last acknowledgment of the debt or the last payment, so that won't help here.

 

You can write to Capital One asking for a copy of the alleged credit agreement and we can see what they come up with.

 

When was the card first taken out?

 

DD

[Bazooka Boo]

Ah yes, good ole creditors shirking their responsibilities and hoping to get away with it!

 

Does she have a history of these payments herself? Bank statements?

 

You may find you need to submit a SAR £10 in order to get the information THEY should have been sending annually whilst the payment plan was in place.

However, as they havent done so, it would suggest to me that they have been adding interest and perhaps charges on this, so the balance was never beng reduced at all.

[TickledPink]

Thanks. She doesn't remember ever receiving anything in relation to this debt whilst they were taking money out (and neither do I) so I think a SAR should be the next step.

[Bazooka Boo]

If your OH can check her bank statements as far back as she can to see what she may have paid then that will be a good start,

failing that then a SAR to the Original Creditor (OC) will be the best way forward.

In the mean time, any and all payments should STOP.... don't want to throw good money after bad!

[BRIGADIER2JCS]

Check credit reference files. When did your partner start the reduced payments?

[oleg]

You mention Capquest, but only in passing. Capital One use them as a DCA but they are better known on this forum as a debt purchaser.

In what capacity are they acting here? If they purchased the debt, CQ will have sent you a letter of assignment from themselves and one pretending to be from C1.

Don't be alarmed at Debt Managers' spineless threats, including letters they send out purporting to be from Russel Aitken solicitors. Peeps here will advise what you can do.

That said, I find it curious to stop paying a debt just because you think it must be repaid without attempting to obtain a statement of account.

[silverfox1961]

You mention Capquest, but only in passing. Capital One use them as a DCA but they are better known on this forum as a debt purchaser.

In what capacity are they acting here? If they purchased the debt, CQ will have sent you a letter of assignment from themselves and one pretending to be from C1.

Don't be alarmed at Debt Managers' spineless threats, including letters they send out purporting to be from Russel Aitken solicitors. Peeps here will advise what you can do.

That said, I find it curious to stop paying a debt just because you think it must be repaid without attempting to obtain a statement of account.

 

 

It has been known many times that a DCA won't tell you when the debt is fully paid and continue taking the profit. Getting it back is very hard (but not impossible).

 

I would imagine that doing some simple calculations would suffice in working out what was (or was not) owed however, I agree that it would have been better to demand a statement considering that the DCA should have been sending one annually.