Some advice needed please

simsyboy

Hi all,
I took out a loan back in 2002 for about £6000 with Cahoot. I was paying it and all was well until I lost my job. I claimed on my payment protection for loss of job and after some back and forth was told it was all sorted. All was well for about 6 months until I moved to Scotland, I threw away all correspondance for my loan and old credit cards, and only kepy my current bank account stuff.

I moved back a while ago, and recently started getting letters from Capquest asking for £6546, a debt they bought from Abbey (who own Cahoot).

I called Cap Quest who say that I need to prove I claimed on my payment protection which they don't have. I called Abbey who say they would have sold all account info to Cap Quest and have nothing they can send me.

Now Cap Quest have sent me a "Statutory Demand under section 268(1)(a) of the Insolvency Act 1986. Debt for Liquidated Sum Payable Immediately", basically saying they will make me bankrupt.

I'm scared now because I am in a catch 22. I can't get info from either party, one wants money and the other have no information on me.

Can anyone offer me any advice please, I don't want to be made bankrupt for a debt I sorted out.

Thanks all

milliemonster

Doesn't payment protection only pay out for a limited time though?. It sounds like your PPI paid out for the period of time (perhaps 12 months?) and then stopped, as you had moved, they would have begun chasing you for the restarted payments that would have been due and as they couldn't find you/get the money have sold the debt on, the debt will have accrued charges during this time.

However, as this was back in 2002, if you have not acknoweldged this debt then it will now be statute barred meaning they can't enforce payment, so the threat of bankruptcy is just that, a scare tactic to scare you into paying.

I would get some advice from the CAB but I doubt Capquest will be able to enforce payment now.

fermi

Are you in Scotland?

If so then the statutory demand they have sent doesn't even apply to you. Wrong legal jurisdiction and legal system.

When was the last time you acknowledged the debt in writing, or made a payment on it?

simsyboy

Thanks for the reply. I'm sure I checked, and if it only paid a certain amount I could have made contingencies. It was a bad time though and I can see that being overlooked. I'm not in Scotland now, was in Wales when I took out the loan and back in Wales now. The last payment I would have made would have been in 2003, and the only contact was the other week when I spoke to them on the phone, explained the payment protection and got the infamous "cheery" customer service telling me I have to provide proof.

Never acknowledged in writing though, only made payments.

Thanks for the replies