Capital One & Self Dmp

RAS

lady13

If you start your own thread you will get much more help.

Merlinexcalibur

Capital One is highly unlikely to have an enforceable agreement. Mostly. It depends when you took out your card eg which year. Also, what Capital One were doing last year was issuing everyone with revised T/Cs starting around July for people who had agreements from certain years. Cynically, I think that was because they knew changes were coming in terms of what an enforceable agreement is supposed to be and have also been trying to enforce agreements using the CURRENT terms not the ones you had when applying.

I, like many out here, have always found Capital One the worst when it comes to agreeing to a repayment plan. They have ignored financial statements drawn up by CCCS, also ignored subsequent request by a debt advisor I went to eventually where it comes to the non-enforceable agreement they supplied me with. It was a pre-application NOT an agreement as they continue to claim in their letters. There were very serious legal issues surrounding the handwriting on the form, too but I won't go into that here because you never know who is reading your posts.

Capital One probably are lenient but only if you do things their way. Complete one of their financial statements which asks for way too much info than necessary. CCCS told me bluntly not to complete one of those almost a year ago. They also asked for bank statements, which they are not entitled to. They were told in several letters, all of which were ignored. So, they may be positive to some who play ball on their terms ie do what they tell you. But for many they are an utter nightmare. I won't start with their overseas call centres and 12 calls per day even when you have told them in writing not to.

As for the letters they kept sending ... both myself and my legally trained debt advisor have both been driven mad with the illiterate grammar in them but also nonsensical replies. Cos they don't follow one to the other.

So, I am glad someone has had a positive experience and I am NOT moaning, quite the opposite, because it's nice when someone does have a nicer experience because the majority, I am afraid, do not.

If the account was opened before 2006 as RAS mentions, it is HIGHLY unlikely they will either even have one or that it is enforceable. Mine is from 2000 and it's laughable to read. Yet they carry on insisting it's a 'credit agreement'. So even they themselves can't tell the difference it seems.

Capital One has also been going through a period of relocation this last year or so overseas. Which is why there has been so much chaos. And I was told that by plenty on CAG so I am not just saying it. Some ex-employees who now fight the fight etc with other people in debt, have said this.

mary_mungo_+_midge

Has anyone had any experince of offering full and finals to cap 1 when a CCA isn't valid? if yes, how low will they go! thanks x

youareallhelpingme

We have been running on self DMP for 3 years.

Never ever give them personal docs such as bank statements, wage slips etc. That is advice from CCCS. They have no legal right to anything but your SOA.

Me x

milliejon

I've been on a self managed DMP with them for about 5 years now. No problems for a long time, agreed to withold the interest and charges, agreed to my offer and I updated them with an SOA (but did send bank statements and statements from my other creditors) each 6 or 12 months with no problems .....

.... until about six months ago. They started being difficult and decided that my plan wasn't agreed etc. Denied receiving letters, responding to my letters to say that I hadn't supplied what was asked etc. They then sent me a letter in September agreeing to an amount lower than I offered for 12 months. Then I received a default notice dated the same as the agreement letter.

Still with me?

Earlier this month I received card through the door asking me to contact a DCA. It must be about this debt as my address is mis-spelled in the same way as my Capital One account. I haven't phoned them, but have written asking that they write to me.

I don't know if my account has been sold to them or is being managed by them, but I guess MerlinExcalibur's explanation of their moving offices must be the reason for using a DCA - clearing out the bad debts?

There are several messages on here about Capital One and defaults lately.

Best of luck Carlos.

youareallhelpingme

DH account with C1 has ended up with a DCA yet was upto date, but like you say they are clearing out bad debts and this is quite a lot of money.

My card has just been put on a plan for another 6 months- i got the usual letter saying can't proceed with out docs etc, but wrote back pointing out that these debts are unsecured and therefore they have no legal right to them.

They have not added charges or interest and although based on current payments I will probably be dead before it is cleared, the aim is to increase over time and if possible clear with a lump sum in the future.

I have never asked for CCA proof, I borrowed it, I pay it back. We have everything on the SOA so they can see all the debts, and all unsecured debts are on self managed DMP's. We are ex dir so no calls, and do everything in writing - no DD's or card payments so they can't try and take more or when you don't know about it. You need to be in control.

All this has been done over what is now nearly 4 years with the odd phone call to CCCS when I have needed advice or reassurance.

Good luck and go for it!

Me x