Capquest Debt from a long time back, looking to clear it. Please help!

justiceforcedave

I worked for a credit card company when I was 18 years old who sadly encouraged me to take out one of their cards...I took it, ran up a 3k bill (increased from a £700 limit due to having friends working in customer services) and then moved house and ran away from it.

The debt was passed onto capquest some time ago as far as I can tell, it is still inforcable as I set up a direct debit to clear it back in 2007....which I cancelled due to lack of funds. Anyway, I've been planning on facing up to this debt for some time and clearing it but it seems they've finally caught up with me a little earlier then I'd planned.

The debt now stands at 5k and I've received a "letter of claim under practice direction- pre action conduct"

Which essentially says we will be commencing legal action as of the 28th of march if you we don't come up with a satisfactory arrangement before then. It further states;

"through the litigation process we will seek a judgment of the court, directing you to pay the monies outstanding. If we are successful and it is necessary to do so, we will seek to enforce such judgment by a Warrant of Execution which will result in a bailiff visiting your address."

I know these kind of companies throw big scary words around but I'm not looking to run away from this anymore, I'd like to settle the debt and be rid of it. Can anyone please tell me what is the best way to deal with this? I'd ideally like to settle the debt for much less then 5k howeber I won't be able to do that for a couple of months. What's the best way? I'm hoping as this debt is nearly 8 years old and they've never received a payment, they'll feel the same way as I do?

Thanks

Dave.

king100

When was the CC taken out?

Send crapquest a show me the CCA please letter.

justiceforcedave

It was taken out around 2002/2003. Excuse my ignorance but can you explain why I need to as for a copy of the CAA?

king100

justiceforcedave wrote: »

It was taken out around 2002/2003. Excuse my ignorance but can you explain why I need to as for a copy of the CAA?

CCA might be invalid thus you can put account in dispute and not pay in. It just means that they cannot take you to court to persue the debt. They can still chase you for the debt.

Many will say your debt you pay, but if you dont have to as they might not have the paperwork correct I dont see why you should.

fermi

Or it may give you excellent leverage to negotiate a low low settlement offer and your credit reference files marked as settled.

They are threatening legal action straight off the bat, so the first thing is to check whether they have or can get hold of paperwork they would need to make that stick.

FOURCANDLES_2

seems like a lot have had these letters this week

fermi

See the factsheet and sample letter here:---> Getting a copy of your credit agreement and account details

As you can see, it's a course of action that a national not for profit debt advice agency has gone to the trouble writing a factsheet on.

If you decide to send the letter, then send recorded delivery and do not sign with your usual signature. Instead, print your name or something similar.

And the £1 fee by postal order.

justiceforcedave

Thank you for your help. I am sending of the letter to find out the details of what I owe and where all the extra has come from (fee's i'd imagaine). What do you think would be the best way to sort out full and final settlement?

fermi

See what they come back with in response to the agreement request first.

There is a factsheet on making full & final settlements in this link.

How to make offers in full and final settlement

Always do it in writing, and insist that you always have acceptance of a F&F offer in writing before you part with a penny.

You also need to make sure you have it in writing that:

- You will no longer be liable for any remaining balance.
- They will not pass or sell on any remaining balance.
- That you credit reference files will be updated to show that the account has been settled.

justiceforcedave

So, I received a letter saying they would look into getting my agreement etc and that my account was suspended for 28 days. It's now been 2 months and I've heard nothing at all. Any ideas where this leaves me?

Mowgli87

have they contacted you since then? Whats the debt of the last payment you made on the account?