CAPITAL ONE, APEX debt collection

graham74_2

hiya everyone,
im pritty new on here and was looking for some advce if anyone can help me out?
i have just recieved my third letter on 10/12/2011 from a debt collection agency called APEX credit management ltd.
they have informed me that i have 14 days to settle the balance of £2722 for a unpaid debt that i had with a Capital one credit card from about 2005 - 2006. (mybe even a little bit longer that that)
i did have a debt of £3262 on my credit card with capital one, before i was made redundent from work and struggled to keep up my payment due to not enough income coming in,
my debt was then passd on to CABOT financial ltd, and i did make regular payments to them and got my debt down to £2722. before any money i did have ran out. i then couldnt make anymore payments, after a number of letters from them chasing up the debt, they stopped, and i havent heard anything from them for a number of years.
until now that is!! APEX are now chasing the old debt again, looking at my credit report my debt show's that my account went into default on 29/5/2007, but show's a start date of 02/10/2004. (is that when i started my repayment plan to CABOT? i carn't quite remember)
now what i am looking for is some advice on is:
(1) is this debt to old for them to chase up now?
(2) are capital one or Cabot aloud to pass my debt onto APex without anyone informing me?
(3)if i need to start my repayments again, what would be a realistic repayment plan?
in the last letter that i recieved it states that CABOT reserve the right to start charging me intrest again, but APEX will suspend any intrest upon agreement to a payment plan. can they do this?

also would it be of any help for me to contact Capital one and try and get my old accont details?

so any advice would be grateful on what would be my next step to take.
thanks for taking the time to read my post.
cheers all

MPH80

1. Probably not. You seem to believe you made a payment in 2006. The debt can only become statute barred after 6 years from last contact - which is the last time you acknowledge the debt. Acknowledging the debt could include paying it or saying "yes I owe that money" on the phone.

2. I'm willing to bet they did send a letter informing you and you didn't realise/open it/read it fully.

3. What you can afford is the simple answer. You'll need to provide them with an SOA which shows what you can afford. I'd suggest contacting a debt charity to help or go via the DFW forum.

graham74_2

thanks for the advice on that,
so really, the only option that ive got then, is to contact APEX and try and sort out a resonble repayment plan. it's going to be hard, and they wont like what ive got to tell them, cause i've had to take some tim off from work to care for my i'll farther, so the only income that i have coming in is £42 carers allowance. (once i get it that is!!)
lets see how understanding APEX is when i tell them that!!

Digital_Lulu

Hello Graham

I have walked this path, still doing so myself after an illness and loss of my business, I've even had an account with Apex for a while.

(1) is this debt to old for them to chase up now?

Yes they can. You have admitted the debt so you are liable. Six years without any form of admission would need to pass for a time out option.

(2) are capital one or Cabot aloud to pass my debt onto APex without anyone informing me?

Yes they can do this. Your debt can be passed from agency to agency. Initially, the debt collection agencies are looking for 'won't pays' rather than 'can't pays', they are trying to shake debtors down for every penny they can. Staff at debt collection agencies often receive financial rewards for extracting extra money. Having said that, treat the staff respectfully, they are only doing their job, never, ever let them draw you into an argument, believe me, they will try, some also like to make you cry, I don't know how they sleep at night. I found Apex to be a very decent company. Debt owners sometimes move debts along when another agency makes them bigger promises, but just keep making your payments.

Never, ever give in, or agree to make payments for more than you can really afford, this will only lead to black marks, letters and telephone calls, it is better to pay less, but always succeed in making your payments.

Under no circumstances bury your head and ignore your debt, this can lead to CCJs and more of a debt burden with the court costs, not to mention the stress.

If Capital One still owns your debt, you will receive an annual statement telling you what payments you have made over the previous 12 months and the total you owe. It sounds like Cabot might have actually purchased your debt as Apex are naming them as your creditor.

(3)if i need to start my repayments again, what would be a realistic repayment plan?

You need to prepare some paperwork for Apex. Start with a personal expenditure sheet, include all your monthly expenses. Think carefully about these, you are in this for the long haul so you need to consider all your essentials including hair cuts, medication, a small clothing allowance, all car costs and any property maintenance costs.

Use the National Debtline budget for this. Unfortunately as a new user I cannot add a link, but search for National Debtline personal budget sheet.

Never complete a debt collector's Income and Expenditure form, so many items can be missed off making it look like you have more money than you really do.

You also need to gather proof of your job loss, income ie proof of your carer's allowance and any other money you have eg savings etc.

The minimum payment debt collection companies can accept is £1 per month. Apex charged for all payment options except electronic transfers last time I was with them, so do ask about their charges and work them into what you can afford to repay.

If you have other non priority debts, you must pay each one £1 per month. If you wish to pay more, then you need to make a pro rata payment offer, you will find the formula online, or post here and I will help.

Then prepare an offer letter by adapting the sample letter found on the National Debtline site, search for National Debtline Repayment Offer letter.

Explain how you came to be in your current circumstances, make your offer and also request they freeze any interest with immediate effect. Explain that any interest would add to your financial burden and make it more difficult for you to discharge your debt.


in the last letter that i recieved it states that CABOT reserve the right to start charging me intrest again, but APEX will suspend any intrest upon agreement to a payment plan. can they do this?

This is something that Apex always points out. You do not need to worry about this, but do include the interest freeze request above. It was this that made me think Cabot had bought your debt.


also would it be of any help for me to contact Capital one and try and get my old accont details?

I cannot see any benefit in you doing this.

If this all seems too much, National Debtline or your local CAB can help you through and even offer a debt management plan where you pay them instead of your debtor, but in all honesty, it is fairly simple to do yourself.

Good luck and best wishes

Digital LLx

MCS65

HI

First time of posting.

I also had an old credit card debt (with Egg) bought out by Apex. At first they were fine and allowed me to continue to pay the monthly rate agreed with Egg (which was £90 per month) but iin the last 18 months I have a call every three months from them saying I need to up the payments to the level I now pay £325 per month which is very difficult to maintain. The upside is I have light at the end of the tunnel and I am due to pay it off next October but I have just had a message to call them "urgently" again and I know they will be badgering me to increase the payments again.

From the above I can now see that the staff are under pressure / chance of a bonus if they do get me to increase but I just can't see a way of increasing again . Should I ignore these calls and continue to pay my current rate ? I pay by direct debit so they get their money each month.

Are they allowed to do this ??

Any advice would be appreciated ..

Cheers

graham74_2

thank you digital lulu for going to so much trouble for the advice. that was a great help, and now you put it like that, cabot must have brought the debt off capial one, has i haven't had any statements from capital one for years.
here's another question if you can help again, im looking at trying to claim my credit card charges and PPI back,
i have no old account details for my cards(i no that i should of save them statements) but when supplying the natwest company my name address date of birth etc, they simply wrote back saying that tey cannot provide any details, or statements without my account number, even tho i told them already that i didnt no it!
so do you think if i contact APEX and CABOT mybe at leat one of them would have my old credit card details?
ie account number so i can get my claim going and get this debt paid off sooner,
thanks again

Digital_Lulu

MCS65 wrote: »

HI

First time of posting.

I also had an old credit card debt (with Egg) bought out by Apex. At first they were fine and allowed me to continue to pay the monthly rate agreed with Egg (which was £90 per month) but iin the last 18 months I have a call every three months from them saying I need to up the payments to the level I now pay £325 per month which is very difficult to maintain. The upside is I have light at the end of the tunnel and I am due to pay it off next October but I have just had a message to call them "urgently" again and I know they will be badgering me to increase the payments again.

From the above I can now see that the staff are under pressure / chance of a bonus if they do get me to increase but I just can't see a way of increasing again . Should I ignore these calls and continue to pay my current rate ? I pay by direct debit so they get their money each month.

Are they allowed to do this ??

Any advice would be appreciated ..

Cheers

Hi MCS65

Yes they can keep calling to try and get you to increase your payments, but if you are experiencing financial hardship making payments at the current level, write to them to explain this and send in honest expenditure information and make a revised offer. The downside is that it will take longer to pay off though :-{

Do not ignore the calls, next time they telephone, tell them you are preparing income and expenditure forms for them and will be sending it through within a reasonable timeframe - ie about two weeks. Stick to your guns and tell them you cannot afford any increase, they will back down. All you have to do is be strong.

Do you owe money anywhere else? Are you on a debt management plan?

Good luck.

Digital LLx

Digital_Lulu

graham74 wrote: »

thank you digital lulu for going to so much trouble for the advice. that was a great help, and now you put it like that, cabot must have brought the debt off capial one, has i haven't had any statements from capital one for years.
here's another question if you can help again, im looking at trying to claim my credit card charges and PPI back,
i have no old account details for my cards(i no that i should of save them statements) but when supplying the natwest company my name address date of birth etc, they simply wrote back saying that tey cannot provide any details, or statements without my account number, even tho i told them already that i didnt no it!
so do you think if i contact APEX and CABOT mybe at leat one of them would have my old credit card details?
ie account number so i can get my claim going and get this debt paid off sooner,
thanks again

Hello Graham

I'm happy to help where I can and hopefully make a small difference.

Well worth pursuing a PPI claim if you have good cause, the Money Saving Expert PPI guides are fantastic for this.

Now that I understand the need for the account number, you need to contact Capital One directly. I do not understand the connection with Nat West though.

You could send in a Subject Access Request and small payment, ideally by means of a postal order.

This is taken from the Consumer Action Group website, you might need to adapt it.


Data Protection Act 1998

Subject access request

Dear Sir/Madam

ACCOUNT NUMBER: xxxxxxxxx (or multiple numbers if more than one account)

Please supply me with all data that you hold on me. This includes in particular, but is not limited to, the following:-

1. The original signed, executed credit agreement and any terms and conditions that applied to the account at the time of default and at the time the account was opened.
2. Transcriptions of all telephone conversations recorded and any notes made in relation to telephone conversations by your company, or by any previous creditor
3. Where there has been any event in my account history over this period which has required manual intervention by any person, I require disclosure of any indication or notes which have either caused or resulted in that manual intervention, or other evidence of that manual intervention in relation to my account formerly held with ORIGINAL CREDITOR.
4. True copies of any notice of assignment and/or default notice or enforcement notice that you or the original creditor sent me, with a copy of any proof of postage that you hold.
5. Documents relating to any insurance added to the account, including the insurance contract and terms and conditions, date it was added and deleted (if applicable).
6. Details of any collection charges added to the account; specifically, the date it was levied, the amount of the charge, a detailed financial breakdown of how the charge was calculated, and what the charge covers.
7. Specific details of the fees/charges levied by any other agency in respect of this account and a detailed breakdown of said fees/charges and what each charge relates to and on what date said fees/charges were levied.
8. A genuine copy of any notice of fair use of my data as required by the Data Protection Act 1998
9. A list of third party agencies to whom you have disclosed my personal data and a summary of the nature of the information you have disclosed.
10. Copies of statements for the entire duration of the credit agreement.

I enclose the statutory maximum fee of £10. You have 40 days in which to comply.

If there is specific information which you require in order to satisfy yourself as to my identity, please let me know by return. However, please note that the above address is the one which you normally use to communicate my private business to me and which you have hitherto found to be acceptable.

Yours faithfully,


More details of how to do this can be found on MSE too.

However, no credit card company keeps data for longer than 6 years - 2005 is as far back as they will go, but this will be 2006 in a few weeks so you need to get a move on and I'm not too certain that any SAR will be processed this quickly.

As soon as you hit 6 years, without records, you need to go via the Financial Ombudsman (0800 023 4567), I have just done this because Barclays chose not to repay a PPI claim for any period earlier than 6 years despite me having all the statements and fees. The Ombudsman is snowed under with PPI claims at the moment so you will need patience whilst they investigate your claim.

I would probably take this route asap, just telephone them and they will help you with the form, no need for your account number with them BTW!

On the upside, if Capital One has sold on your debt, they must send any PPI refund to you. If they still own the debt, they will use any PPI repayments to pay off your debt.

Good luck
Digital LLx

graham74_2

thanks again digtal LL
sorry i didnt make myself clear, i have APEX chasing after my old capital one debt,
but the natwest is for a differnt old credit card that i would like to claim the PPI back for, but because it a old card i havent kept any details or statements for the card, i have contacted natwest with my name,address, DOB.and the bank's branch details where i took the card out with, etc,
but they say that they can not supply any statements or details of my credit card unless i can provide them with the correct credit card account number!
would i be better trying to chase this up with the financial ombusman? cause i'm getting nowhere with natwest

Digital_Lulu

graham74 wrote: »

thanks again digtal LL
sorry i didnt make myself clear, i have APEX chasing after my old capital one debt,
but the natwest is for a differnt old credit card that i would like to claim the PPI back for, but because it a old card i havent kept any details or statements for the card, i have contacted natwest with my name,address, DOB.and the bank's branch details where i took the card out with, etc,
but they say that they can not supply any statements or details of my credit card unless i can provide them with the correct credit card account number!
would i be better trying to chase this up with the financial ombusman? cause i'm getting nowhere with natwest

Oh I understand. Start with a Subject Access Request and the £10 fee. Then go to the Ombudsman Graham. They cannot ignore an SAR.....and if they do after several tries, contact Data Protection people.

Good luck Digital LLx

graham74_2

will this still work even if i cannot supply a account number for my credit card??