CapQuest Debt Recovery ???

Apple_2 · 26 July 2005 at 11:19AM

Has anyone ever dealt with these people ?? I've got an Egg credit card debt of 8k that they've been in contact with me about. What I'm really wondering is are they Egg in-house or are they external debt collectors ? Reason I'm wondering is I've been talking to Egg and other creditors since May letting them know why I can't make payments/personal circumstances etc. Was able to make an offer in full settlement but it was small ( about 15% ) which my brother would lend me. Egg rejected this early July.
I'll talk to these people and explain my situation - do what I can. But it seems very fast for Egg to have sold the debt on, if that's what they've done. They took on average one month to reply to each recorded letter, but since their last letter early July rejecting my offer, they've processed me out and sold me on ??
Whether they are Egg in-house or really external might make a difference to their approach so if anyone knows could you let me know please. Or if anyone has dealt with them, what was it like ?
Thanks in advance for any replies.

Nicky_3 · 26 July 2005 at 11:37AM

CAPQUEST DEBT RECOVERY SERVICES LIMITED
9 CLARENDON PLACE
LEAMINGTON SPA
WARWICKSHIRE CV32 5QP
CV32 5QP

If these are the ones, then I am guessing they have either employed an external DCA or have sold the debt on. Probably more likely to have employed the external agency, otherwise the letter you have received, I would have thought, would have stated that the debt is now owed to them.

Either way, doesnt really matter, what it does mean is that the DCA will be more flexable when accepting a reduced offer of payment, or, a lesser percentage when offering a full and final settlement on the account. So really, it works in your favour as long as you keep in contact with them.

Send them a financial statement if you havn't yet done so, offer them either a reduced monthly payment or a full and final settlement on the account. If you need any help doing things like this, you can either talk to Payplan or CCCS who do Free debt management plans.

https://www.payplan.com
https://www.cccs.co.uk

Apple_2 · 26 July 2005 at 11:54AM

What the letter says is :

Creditor's Notice
Our Client : Egg plc
Your Account No :
Ref :

Does that mean they are acting for Egg as opposed to owning the debt themselves ?

Thanks

Nicky_3 · 26 July 2005 at 11:55AM

Yes, they are acting for Egg.

Turning_into_scrooge · 26 July 2005 at 12:27PM

I have an Egg debt with CapQuest and i've found them to be the easiest to deal with. The first call i had was to inform me that they had no intention of taking me to court and to ask me to send in a SOA through CCCS. They actually told me to pay them no more than a caertain figure each month and offered me a !!!!!! of 80% which she said would still be there all the way through the payment plan. The 80% figure would actually be lowering with each monthly payment made. Go ahead and contact them they are very nice people. They will not hassle you by phone as they have only phonned me once and that was when the debt was passed onto them. They asked me if it would be ok to give me a call round about now to see how i was getting on whcih i have no problems with, they operate well within the guidelines set down by the OFT and genuinly do understand how people get into debt not like some of the one i've read about on other forums.

Apple_2 · 26 July 2005 at 1:44PM

Thanks Scrooge

But what is a !!!!!! ??? I'm kind of new to all this debt business but trying to deal with it as best I can.

Turning_into_scrooge · 26 July 2005 at 2:01PM

sorry, full and final settlement offer.

Are you trying to sort all this out on your own or are you using https://www.cccs.co.uk or https://www.nationaldebtline.co.uk ?creditors are easier to deal with if you use one of these free charities or CAB of course

delboypass · 26 July 2005 at 2:35PM

i doubt they will accept 15% though of 8k. Nobody goes that low.

Apple_2 · 26 July 2005 at 2:44PM

My brother is trying to sort things out for me ( he's an accountant ). He's also the one prepared to lend me a lump sum if I can get full & final settlements. He's been doing all the letter writing on my behalf.
My problem is I'm self-employed and haven't earned in over a year ( long story/illness !! ). I live with my b/f, he's basically supporting me. But with regard to my creditors, they want monthly payments and I can't make monthly payments as I have zero income. Brothers offer was like 20% so I don't blame creditors for turning it down. But I've got nothing else to offer.
While I was working I could manage my debts ( not pay off but regular monthly payments ) but for last year it's been desperate. I've sold stuff off to keep payments up but in April just couldn't keep going. Brother is helping all he can, but he can only afford to pay off 20% of what I owe. I'm really thinking about bankrupcy.

Leeshieus · 12 August 2005 at 2:52PM

I'm not sure about CapQuest this is my experience with them:

http://forums.moneysavingexpert.com/showthread.html?t=81267

thurmarshboy · 27 March 2007 at 4:10PM

Thank goodness for the internet! Ive just been told by capquest that they bought a debt from Natwest for 1400. I didnt know what to do because I havent heard from Natwest in a good 3 years. I thought it was all settled. Does anyone know if there are any regulations re: how long a debt can be pursued if the company owed has not been in touch for a long time? I cant afford to pay back 1400! and although i did have an account with natwest a few years back, I didnt know I owed them this? The way they contacted me was via telegram and I called the number and the person asked for my address and asked me to confirm a previous address (which I moved from in 2004)! no reference to the 3 addresses ive lived at since? Is this legal?

CapQuest Debt Recovery ???

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