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Advice Please Re Capquest


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Hi, I would really appreciate some advice/opinions on my situation with Capquest.

 

CQ bought an Egg Card debt which I had been struggling to pay. I wrote to CQ explaining my financial situation....dire! I offered a token payment which they accepted in writing and gave me a reveiw date of the agreement many years in the future. I have made the monthly token payment consistently for almost a year, then a couple of weeks back I received a letter from HL Legal stating that I had failed to honour the agreement made with CQ, they stated that I had not made a payment since 2 days before CQ's letter confirming the agreement! The balance HL quoted corresponded with my payments having been deducted from the original balance, but they were still threatening me with legal action and the addition of legal fees if I didn't pay what I had already paid!

 

I wrote to CQ and explained that I had infact honoured the agreement and gave all cheque numbers and the dates cashed.

 

Today I have received a letter from CQ which is exactly the same letter as the one confirming the payment agreement which I received last year, except the agreement review date has been extended by 11 months....AND... the balance oustanding has increased by £700!

 

Any thoughts on this anyone?

Thanks

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Hi zimmie first of all stay calm you say that cquest have bought the debt off egg have you had a copy of the notice of assignment to cquest, they may well just be collecting on behalf of egg. My partner had dealings with this company sometime ago and they try to worry you in the hope that you might increase payments to them.

 

Don't let them bully you, send all correspondence to the company via recorded mail and keep all correspondence from them if you have decided to honor the debt, dcas have to behave in an appropriate manner there are guidelines laid down by the oft.

 

The following may be of some use to you and gives more info regarding assignment

 

Debt collection: Recovering the debt through third parties

 

Also ask for a statement from them detailing payments received and if you want you could even sar them this would force them to release all the info they have on you but you would have to pay £10 for this

 

Hope this helps...

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Send them an SAR to see what charges have been added.

 

Are you sure they have a right to collect on the debt? If not, send them a CCA. Were you sent a notice of assignment or have they defaulted you at all?

All help is merely my opinion only - please seek legal advice if you need to as I am only qualified in SEN law.

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First NEVER talk to these "people" on the phone as they will try and get you to agree to anything.

 

Before you even think about making any sort of acknowledgement or payment to a DCA you MUST ensure that they have the LEGAL right to collect the debt.

This is achieved by requesting a copy of the Signed, Executed Credit Agreement via a Consumer Credit Act (CCA) request.

There is a template letter to be found here: http://www.consumeractiongroup.co.uk/forum/general-debt/20758-creditors-dcas-letter-templates.html

Letter N.

Is it important to start the letter:

I DO NOT ACKNOWLEDGE ANY DEBT TO YOUR COMPANY in Big Bold letters.

 

It is best to send this request via recorded/special delivery as there are some inportant deadlines to observe.

 

After 12 WORKING days the "debt" is in default and stays that way until the request is complied with.

If a FURTHER month passes then the DCA has committed a summary criminal offence and the matter should be referred to Trading Standards for action.

 

I hope this clarifies some things.

Be VERY careful whose advice you listen too

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Hi, and thanks to all who responded. Well yes I know this is my debt. I sent Egg a SAR which they supplied (and returned my cheque). I then sent Egg a CCA request (not wanting to upset CQ) it came back in time looking fine. The SAR also confirmed the debt had been sold to CQ...so I really have no problems there. Also I have no probs with how CQ have treated me until now...after paying on time consistently for almost a year..then to get a solicitors letter saying I haven't paid....then when I query this all I get is a letter which suggests I have JUST reached a payment agreement with them...AND the balance has increased by £700!

 

I'm somewhat confused as I didn't think DCAs were entitled to add interest :confused:

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Several years ago my uncle transferred a couple of lock up garages to me and the solicitor organised the deed of assignment that granted me all the title and rights that my uncle had enjoyed such as the arrangement that we have with the railways. So some people would say that the rights from egg have been transferred to the dca so they could levy under eggs t&c.

 

This is contradicted though by the oft guidelines the debt collection guidance updated in dec 2006

 

However have a look at charging for debt collection 2.9 and 2.10

 

Applying unreasonable charges for example charges not based on necessary and actual costs.

 

http://www.oft.gov.uk/shared_oft/business_leaflets/consumer_credit/oft664.pdf

 

Out of interest when capquest bought the debt off egg did they add a default and remove eggs one, or just continue with the existing one if any at all.

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Thanks RR, maybe I should write to CQ and query the increased balance, as even the erroneous threat of legal action from HL showed the correct balance, I can't see how a week later it should have increased by £700.

 

I haven't checked my credit report to find out if there is a default and whose name it is in as I have read so often of DCAs crawling out of the woodwork after people have checked with CRAs.

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