Old capquest cap

lilyloo17

Hi looking for some advice pls

We are coming to remortgage in year or so , so wanting to get everything in order. There is one little niggly thing on my bank statement a 5 quid payment to capquest.
Around 8/9 years ago I had an online only account with alliance and Leicester and had 300 in overdraft - fast forward id forgotten my log in details to make a payment , tried going to branches but as online only wouldn't help wouldn't take payment, wouldn't post me new password, couldn't reset passwords online as went to old email. In end I moved and forgot about it (stupidly I know) and around 1 year later got a letter from debt collection agency bumped up to oweing 800 - made complaint via alliance and Leicester as although my debt I was happy to pay the 300 but 500 interest !! they'd made barriers againist me logging in or provide assistance for me to pay ie wouldn't take money in branch. They acknowledged my complaint but no formal decision ever . In the meantime I agreed to pay 5 per to capquest to prevent things getting worse and have done every month since . Basically I want rid of this of my statement ! Its my only mistake everything else in my finances are pristine.
Nothing is on my credit file relating to this - what should I do ? If I stop paying could capquest re- register a default on the debt even though alliance and Leicester had the original debt which would have defaulted ? Should I call capquest offer nominal sum to clear it - would this then look bad if they mark it as account settled even though nothing on there at moment ?
Sorry to waffle any advice pls ?

sourcrates

Hi,
You could send provit letter first, although there won't be a formal credit agreement for an OD, they should be able to supply statement of account etc, find out how much is still outstanding, then make an offer to settle, do it in writing, don't phone them.

lilyloo17

Thanks for reply, what's provit letter ? Alliance and Leicester are no longer in business - so would capquest hold any records of credit agreement - I'm loathe to pay the 500 interest. Even if I settle I'm worried it might spring up something on my credit report to show a settled account as nothing is on it relating to this? Thanks agin

sourcrates

They can't default you twice for the same debt.

If they can't prove the debt exists, then you may not have to pay it, that's why it's recommended you send the provit letter, you are basically asking them to prove you owe the money.

Link to provit letter here :

https://forums.moneysavingexpert.com/discussion/2607247

lilyloo17

Ok I'll try that - doesn't the fact I've been paying it all these years mean I've acknowledged it ? - is it not classed as a separate debt if they bought it from alliance and Leicester that's who I defaulted with , so if I didn't pay capquest they could still put something adverse on my credit file ?

sourcrates

lilyloo17 wrote: »

Ok I'll try that - doesn't the fact I've been paying it all these years mean I've acknowledged it ? - is it not classed as a separate debt if they bought it from alliance and Leicester that's who I defaulted with , so if I didn't pay capquest they could still put something adverse on my credit file ?

No, it's the same debt, so can't be defaulted twice, weather you've been paying or not, you should still ask for proof, at the very least you will find out your balance, at best, they may not have any evidence, so won't be able to prove its owed, if any DCA ever sends you a letter saying you owe us x amount, never, ever take it for granted, even if you recognise the debt, they still have to have proof that you owe it, they will not provide it unless you ask for it.

National_Debtline

Hi there,

I would say that checking the balance of the debt is the most relevant, as you are hoping to settle this to move on with your life. Sourcrates is right, they can’t re-register a default, so if the original default is more than 6 years old (and is no longer on your credit file) then there is only one other thing they may be able to register going forward - and that is a CCJ.

Because you have made payments over the years the debt could still be chased through the county court, if you are trying to consider options to deal with this debt as quick as possible and to limit the risk of a CCJ I would suggest clearing it in full or a lump sum offer – all agreed in writing before any money is sent. The payment won’t necessarily improve your credit file but it will mean monthly payments are no longer necessary (or show on your bank statement) and you will have some peace of mind.

Laura
@natdebtline

lilyloo17

Hi Laura
Thanks for your reply also, yes I just want rid of it of my bank statement for when we come to remortgage (I don't need it to improve my credit file so to speak as this doesn't appear one there and everything else is perfect this was my only blip!) I just don't want it hanging around for years to come !
I will ask for settlement figure in writing but I do begrudge it given its 800 for a 300 debt - yes partially my fault but also some barriers from alliance and Leicester at the time - who I complained to but never had an outcome and yet I can't pursue this as no longer in business (anyway I can dispute the total figure with capquest ?) I definitely won't stop paying and risk a ccj !
Also could paying a final settlement then make this spring up on my credit file as a settled debt management plan and affectively make me file worse given it doesn't appear at all now ?

sourcrates

lilyloo17 wrote: »

Also could paying a final settlement then make this spring up on my credit file as a settled debt management plan and affectively make me file worse given it doesn't appear at all now ?

Once it's off your file nothing on this earth can make it re-appear, if it did, for whatever reason, you could complain to the CRA's and have the entry removed.

National_Debtline

lilyloo17 wrote: »

I will ask for settlement figure in writing but I do begrudge it given its 800 for a 300 debt - yes partially my fault but also some barriers from alliance and Leicester at the time - who I complained to but never had an outcome and yet I can't pursue this as no longer in business (anyway I can dispute the total figure with capquest ?)

You could write to Capquest and ask them for a breakdown of the debt (including what interest and charges have been added over the years). I understand you are unhappy about how the balance has risen but this is more of an issue if they have added interest and charges outside of the original agreement – and that could be tricky to show at this stage (as a CCA request is not applicable to overdrafts). You could complain to Capquest and escalate to the Financial Ombudsman Service if you do not get a satisfactory response to your complaint.

If you decide to do a full and final settlement then I would suggest that you make the proposal to them of what you have, have a look at our factsheet and sample letter to guide you - https://www.nationaldebtline.org/EW/factsheets/Pages/24 EW Full and final settlement offers/Default.aspx

Laura
@natdebtline