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Student Loans Company and CapQuest


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Hi

 

I am in desperate need of advice! My partner has an old-style student loan from 1997-2002. He closed his bank account and moved house and irresponsibly failed to tell the student loans company. To cut a long story short we were contacted by a company called CapQuest today to say that if we don't arrange to pay back £5341.19 in monthly payments for a year (plus an additional £100+ to the Student Loans Company per month) by 9pm they would take us to court. This is the first day that my partner has spoken to CapQuest.

 

He has tried to speak to the Student Loans Company about it, but they are refusing to deal with him. We haven't been sent a breakdown of the debt by either organisation, and would like to be able to make sure it is the right amount before paying anything. CapQuest did sent a deferral notice, but apparently if you earn over £2000 per month you cannot defer the loan. We can afford to make some payment this month, but are relocating at the end of the month and my partner will be out of work. As the deferal notice is based on your previous 3 months wages we apparently have to pay over £500 per month...which is way more than we can afford to pay, even now while we are both in employment.

 

I have tried to read other threads on the forum and have spoken to CAB, but am getting conflicting advice. Please can someone explain in idiots terms, what we should do. I am so worried that CapQuest will come round and start taking away our house!

 

Thanks

 

Worried

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If the worst comes to the worst and they take you to court you will be able to tell the judge your financial situation and make an arrangement to pay what you can afford, unfortunately you may well end up with a CCJ as well. Probably worth asking for a full statement on the account to see if there are any charges you can countersue for. I think because of the age of his loan it might be covered under the CCA so you could do a CCA request for the original agreement as well. I am sure some more knowledgeable peeps will be along soon.

good luck

ali x

Btw I am no expert just give notes based on what I have read on here and other forums/sites, plus my own experiences and investigations.

 

All ccj's now dropped off file, 2 yrs to go to clear file.

All old debts either settled or made unenforcable.

 

RBS MPP-Full offer at 8 wks from first complaint

RBS Overdraft loanguard-full offer at 8 wks from complaint

Citicard ppi-with FOS finally paid 8 months after offer through FOS!

Capital one x2- with FOS

Monument ppi-with FOS

aqua x2 ppi-partialled settled still pushing for the rest

Black horse ppi-offers made and accepted except for one early loan they say no info held-still pushing for payment

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There is a s.78 request template somewhere, but reall all you need to do is send a letter asking for a true copy of your agreement, any deed of assignment and the current balance of your account.

 

Head your letter:

 

Section 78 request pursuant to the Consumer Credit Act 1974

 

Enclose a £1 Postal Order and sent it by Recorded or Special Delivery.

 

Keep both the PO reciept and your part of the RD or SD slip, make sure the Post Office stamps it and check www.royalmail.com track and track to ensure you know it has been delivered.

 

Claim all the £20 penalty charges back and interest on these charges @ 8% from the day each was debited to your account.

 

At worst you will reduce the amount you owe and can come to an agreement to repay what you really owe, not some figure inflated by unlawful charges.

 

Good luck.

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moved house and irresponsibly failed to tell the student loans company

 

Best thing to do in my opinion is to search all statements to find if there have been any 'penalty' charges added to the account prior to the house move. If so - dispute these by going through the SLC complaints procedure - this will move your account away from Crapquest and back to the SLC and then you can negotiate payment with them.

 

It is your responsibility to tell an organisation of any relevant change of details.

 

The SLC will then demand full payment in an inappropriate way ie. over three months. This is obviously unacceptable to you and highly unacceptable for a company to demand this. Make your offers in writing and don't leave yourself short as your quality of life is of the upmost importance. Remember that if this should go to court depending on your circumstances the payments could be very small.

 

Send all letters RecDel and keep copies. Also read the deferment conspiracy thread as I am sure you probably have as there are many sound arguments raised there about deferment procedure or lack of.

 

If you aint got the money then you have nothing to pay them with.

 

Hope this is of some help.

 

M.

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