Apex and Capital One

paddyposh

Hi all,

I have a debt with Capital One, and it has been with Apex for nearly 3 months now apparently. I rang Apex today to speak about a repayment plan, and they said that after 3 months Capital One may recall the debt so that Apex no longer have it.

Is this true in peoples' experiences?

Also, if so, I would prefer this. I had a Nationwide debt that went to ARC Europe for ages and I randomly rang Nationwide about it and they said it is with them and dormant, so just set up a plan with NW direct .

Would this be the same with others too? Or just those where they have "instructed" the DCA to act on their behalf?

Any help will be appreciated, as if this is true I would rather wait until Cap One have it back.

National_Debtline

Hi paddyposh


Even if the debt is returned by Apex to Capital One, chances are that it will then simply be farmed out to another debt collector instead. If the debt has been outstanding for a while it's unlikely that the card issuer will have too much interest in handling the recovery process itself.


That said, if you make a repayment proposal directly to Capital One right now they may be willing to accept it if it doesn't involve too much work on their part. Either way, I would suggest it's better for you to start making offers and repayments sooner rather than later if you are able to.


Dennis
@natdebtline

paddyposh

Hi,

Yes I do agree with that, I just wondered if that was actually true or if Apex were trying to push me into agreeing a plan today?

I have half of my debts still with OCs, half with DCAs. Trying to sort it all out is awful, 7 defaults during 2014. Had my head buried for ages.

National_Debtline

Hi again


I've no doubt that Apex are keen to get you on a plan ASAP - they won't earn anything otherwise! Ultimately, what's important is not the names of those you deal with, but that any arrangements you make are sustainable.


If you are finding it daunting to deal with a wide range of debts in various places, you could consider some sort of free debt management plan to get everything in one place, even if only for the short to medium term. More info here:


https://www.nationaldebtline.org/EW/factsheets/Pages/debtmanagementplans/dmpadvice.aspx


Dennis
@natdebtline

CakeCrusader

What they usually do is sell them off, and if they don't bet you to pay up, Capital One sell it again to someone else. Be careful if they sell it off to Cahoot finance though, they have a tendency to apply for a CCJ (even if it's close to being statute barred).