CapQuest

PBX · 4 July 2008 at 9:43AM

Can anyone help. I have had a letter from CapQuest which is threatening a petition for bankruptcy if I do not repay a debt which is owing to RBoS in 2002. One was a credit card and one was an overdraft which were taken out in this year. Can this company file a bankruptcy agains me or not, I own my house (not outright) but there is very little equity in it anyway.

LilacPixie · 4 July 2008 at 10:00AM

Well they can in some circumstances but it is unlikely as it costs a fortune with no guarentee they will see any return.

Could this debt be statued barred?? Where in the country are you?? When was the last time you acknowleged this debt in writting or by making a payment towards it??

fatbelly · 4 July 2008 at 10:01AM

If here has been a period of six year during which you did not acknowledge the debt by making a payment of making written communication with the lender, then the debt is statute barred

Factseet here

Most (but not all) threats of statutory demands are just threats - it could be you're nearing the six-year mark and they are trying to get you to respond.

PBX · 4 July 2008 at 10:06AM

It is nearing the 6 year mark, you're right. I think the actual 6 year mark would be around September as thats when I went to Australia. I havent made a payment since then or been in contact with anyone from RBS and/or CapQuest. Any suggestions? The total debt is around £3k but they are willing to reduce it tto around £1.5 to claer. Whats best?

Thanks by the way.

stapeley · 4 July 2008 at 10:13AM

I would play for time now . In any letter you should put that you do not acknowledge any alledged debt to them . Do not talk to them on the phone NEVER ! The overdraft is not covered by a CCA , but the card is . Request a true signed copy of the CCA for the alledged debt , that will stall them for awhile .

PBX · 4 July 2008 at 10:21AM

I am a little unsure as to what a CCA is and what it can achieve? How can I know for sure when both these debts would become statute barred and is it worth putting that to CapQuest in a letter?

LilacPixie · 4 July 2008 at 10:23AM

Remember debts are statute barred after 5 years if your in Scotland. That may change you course of action.

Factsheet | Liability for debts & the Prescription & Limitation (Scotland) Act 1973

fatbelly · 4 July 2008 at 10:27AM

I am not sure what you would gain by writing to them at this point on any isue. You need to be very careful not to acknowledge the debt between now and September.

If you are sure that you went away in Sept 02 and made no contact since then, then the letter you need to write is in the factsheet and you need to write it in October! (unless you live in Scotland - see above!)

PBX · 4 July 2008 at 1:48PM

So to re-iterate. I have received a letter from them saying I have til the 12th July to pay or come to an agreement or they will file a petition for bankruptcy with the courts. - If the 2 debts could qualify to be classed as statute barred in September this year, is it likely they will apply for bankruptcy if I dont reply by the 12th July - I have a house you see but I thought, as the debts were unsecured that they oculdnt make me bankrupt...

Whats the best step to take next. Thanks

RAS · 4 July 2008 at 1:53PM

PBX

We need to know exactly what is in the letter.

Even better ring National debtline in particular.

One holding tactic would be to demand the Consumer Credit agreement for the credit card.

CapQuest

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