RE: Capquest finally sent the loan agreement, what now?

Olibubble

I asked Capquest for the original loan agreement back in September. They responded today. Does this now mean I am liable to pay it. I know there are suggestions they cannot enforce this, but I want to be sure.

Also they have been adding interest on the debt, at £19 a month. Surely they cannot do this until they have proved the debt exists.

Also, they have only sent bank statements. Nothing Signed by me. When I check the bank statements, it appears all the debt is bank charges. Seems like I went £10 overdrawn, and they have been charging £38 here, £60 there, and interest like no-ones business.

I know you can claim back these bank charges. How do I go about doing this, and how do I explain to capquest thats what I will be doing. Im at my wits end with this. They have given me 1 week to reply otherwise they are passing my details on. Surely they can't take 3 months to reply, and expect me to reply in 1 week.

THE_LONE_RANGER_4

Pass It On Where ? If It Goes To Court Good For You , If Your Saying Its Bank Charges Get Down To The County Court And Make A Claim Against Them For The Ammount (who Ever Owns The Debt) And Follow It Through Let Capquest Know You Have Started Court Proceeding With Regards To The Debt

Olibubble

I have heard that Capquest are in default because they didn't reply within a given time. Is it true that they cannot enforce this debt because it has taken them 3 months to reply to my original request. If they cannot take me to court, could they pass this on to the bailiffs instead. The bailiffs are my biggest concern.

file_wizzard

I think there are a number of issues here;


1) If the account / amount owed is in dispute with the original creditor then the DCA must cease all further action until the original creditor has responded to the complaint / dispute.

2) If (1) is resolved and have they supplied you with a copy of the original credit agreement, and not just bank statements then yes the debt is enforceable, their ability to take further enforcement action is only stayed whilst they are in default of their requirement to provide the agreement, once they have done this then recovery proceedings may be restarted.

3) Bailiffs may only be instructed once an order has been obtained from the court, bailiffs can not just turn up on your door step and demanded payment if an order has not been issued.

Olibubble

The problem I have is that I had a authorised £1,000 overdraft. I went over this, and then I kept getting hammered with bank charges. I was paying this off, but i lost my job and I couldn't afford to keep up with the charges and interest. (I paid about £800 off). Then I did the worst thing, I ignored it. Turns out with all the charges I owe over £2,000. So there will be no original loan agreement for the amount owed. Does the overdraft count as a loan agreement? Would capquest need to send my the original overdraft (loan) agreement and not just bank statements.

file_wizzard

Yes in order to collect the debt they would need to provide a copy of the original overdraft agreement.

However in this specific case I think your best chance of resolution will be to write back to capquest telling them that now you have received and reviewed the bank statements you are disputing the amount owed, and that therefore they should cease all further action whilst you communicate with the original creditor.

You should then contact the original creditor and raise the issue about the charges and deduct these from the total amount owed.

The creditor will then either directly settle the remaining balance (if any) with your self, or pass back to a DCA for collection of the revised amount outstanding

Olibubble

Thank you file_wizzard. You have put my mind at rest. Sometimes these debt collection companies get you really rattled, so much that you don't think straight. I had a feeling that they haven't provided what I asked of them. I just think they are disgusting when they give you 7 days to reply, yet they can take months to reply to your letters. it stinks. Rant over, thanks to everyone on this site who give out advice. Does wonders for my sanity.

davek1

especially crapquest thats what they do best!!!!