Why Would Collection Agency Stop Taking Money?

Longships

In 2007/2008 we set up our own arrangements with various collection agencies to make token payments after being told by CCCS that they couldn't help us as we had no available money to make debt payments.

One of these agencies was CapQuest who were chasing money (over £20,000) owed to NatWest. We came to an agreement with them to pay £10 a month and set up a direct debit. After a couple of years they raised the DD to £10.50 a month.

I am now trying to sort out these old debts and have discovered that although the DD is still set up in our bank account, CapQuest haven't taken their monthly payment for almost a year. Is this normal?

We have moved several times so it is possible that they wrote to us and we didn't receive it, but I can't understand why they would stop taking the payments.

nottoolate

probably sold the debt but as you didnt get letters you wouldnt know they had.

sourcrates

On a debt of 20 grand, re-paid at £10.50 per month, they would be waiting a long time to get there money back.
In a case like this they usually sell on the debt to cut there losses, plus if you have moved a few times, the new collection agency will not know where you are.


This can be bad news for you, as there is the possibility they could apply for a CCJ and win by default, as you would know nothing about it, this may already of happened.

happy_bunny_2

Best write to Capquest with your old and new address and ask what's going on.

Longships

Thanks for your replies.

No CCJ appearing on credit records at the moment and we haven't been difficult to find - Electoral Roll, credit records have up to date address details and we have kept same phone numbers. Other agencies have kept in touch.

However, I will write to them and find out what is going on.