Advice Needed...

onedaymyfriend

Hi guys, I'm after a bit of advice for a friend.

He has a Credit Card with Capital One & was making regular payments.

Unfortunately he lost his job about 16 weeks ago, so informed then straight away of the situation. Debitas (who act as Capital One's legal services) called him about 7 weeks ago for a payment & he explained that he was still unemployed and couldn't afford to pay them. They then said that they would send him an Income & Expenditure form, which he was to fill in and return to them ASAP.

The form never arrived...they called him last week requesting a payment...he told them that he was still waiting for the Income & Expenditure form, which they insisted they had sent it. When he asked for another form to be sent, they said they this was not possible; as one had already been sent. However they did say that if he made a payment; they would resend the form. So he borrowed some cash from a friend & made a payment. They also confirmed that by him making the requested payment, they would not be passing his account on to a Debt Collection Agency.

This morning he received a call from 'Fredrickson International', who informed him that Debitas have passed the debt on to them.

He called Debitas today to ask !!!!!! was going on, but the kind people at the Indian Call Centre could not or maybe would not help what so ever...Though they did request that he wrote to Capital One's Head Office.

Can Capital One take the debt back? Or is this very unlikely?

Where does he stand, with regards to this? Needless to say he is worrying bigtime. Can they just turn up at his home and start removing items?

Any advise welcome as always & Thanks for your time,


D#

kaisersoze_2

I would suggest they contact their local CAB office and talk this through with them, they will be able to explain his rights and the best course of action.

debtdestroyer007

hi mate
sorry to hear about your friends situation. yes CAB would be a good idea or he/she could send some letters offering token repayments.
they only time someone can come around is when bailiffs get involved. debt collectors too can call however they have no power so tell them to !!!!!! off!!!!

the bailiff situation is very complicated. the creditor has to go to the county court to make a claim, have a judgement and then execute the warrant of execution.

my advice send this sample letter to the DCA and see what happens.... as ur friend is not working , there is not much that can be paid back at the moment. hope this helps...

The Loan Company
Company House,
Church Street,
Newtown,
Kent,
R1 7HG
Dear Sir/Madam
Re Account No/Reference No:- 4563210025897412
Since making that above agreement with you, our circumstances have changed.
We cannot now afford to agreed monthly payments because ... [your paragraph added here]
We enclose a Personal Budget sheet which shows our total income from all sources, and the total outgoings of
our household. As you can see we have no money left to make offers of payment to my creditors.
In view of our circumstances, would you please accept no payment at present to be reviewed in six months. If
interest or other charges are being added to the account, we would be grateful if you would freeze these so our
debt does not increase.
Should my circumstances improve we will contact you again.
Thank you for your assistance. We look forward to hearing from you as soon as possible.
Yours faithfully
Mr A N Other