Capquest - Egg settlement

Captain_Hotair

I'm helping a friend sort out her debts originally with Egg and transferred to CrapQuest. I have obtained a large sum from lloyds TSB in reclaimed bank cahrges and can use that to settle some debts. I have liased with Crapquest and they have offered to settle the debt for about 25% less than is owed. The letter says make the cheque payable to Egg plc inferring that Egg still control the loan. I have also sent in a letter to CrapQuest requesting a copy of the original agreement under the CCA, etc, no reply yet except acknowledgement and a 28 day standoff. has anybody any experience of negotiating with Egg to get a better deal for settlement than a 25% reduction. Even after all the default charges applied to the loan this seems a reasonable offer.

Broken_hearted

Egg won't talk to you,I've tried. If you are settling get it in writing and have the wording checked crapquest are untrustworthy.

Larumbelle

CrapQuest never come up with the CCA.

They tried stalling me for months while they found excuses why they couldn't provide one, eventually I offered £100 as FULL AND FINAL settlement on my debt and they accepted.

Captain_Hotair

The offer letter also says that the account will be closed once payment is received but the "credit file will show the balance as satisfied with a special flag of partial settlement" Anyone know what they mean by this or what effect it will have?

Larumbelle

I'm not sure. I can see what it is in theory - although it is marked as 'settled' it was by agreement not 'paid in full' but I've never seen it on anyone's file. I threatened them with court action to sort out my credit file becuase they left it as in default, I hope you don't have to end up doing that but I'm afraid that they're a bunch of s:eek:ts to deat with.

wazza24

i am currently waiting my cca from crapquest :rotfl: . They have already passed the 12+2 and have still not sent it. :beer:

Larumbelle

Gotta be honest, I regret paying even 1p in settlement now!

Do nothing until they send you the signed CCA. If they don't send one, still do nothing

Broken_hearted

They found our CCA so we are stuck paying.

Captain_Hotair

On the 12th day we received from Crapquest a copy of the original Agreement with Egg and with a letter from Crapquest where the balance owed was shown as £0.00 but asking for payments. Notwithstanding the latter, we have made a Full and Final offer by letter and have yet to receive a reply. Meanwhile we have today received a letter from Frederickson International requiring "Immediate Attention" etc. We still don't know whether Egg actually still have the loan or whetheer it has been sold. I am of the opinion to send of another letter to Fred Olson and ask them for a copy of the original Agreement, etc. Any other ideas out there???

Captain_Hotair

To close this thread, after ignoring Fred Olson for a few months over Xmas, etc, I contacted them by phone and said that Crap Quest were willing to settle the account for £5500 which was some £2000 less than the total account figure. I said to Fred Olson what is your best acceptance offer and .they told me it was 70% of the loan amount so I settled for £5129

Broken_hearted

Well done. Crapquest are still refusing my offers.