Please help...

cazaline

Hi there,

Not posted before so hope that this makes sense!

My husband incurred £15000 worth of debt through his first marriage and when they divorced he agreed to take responsibility for it all as it had all been in his name! We got together 5 1/2 years He has payed off 3 of the debts totaling £3500 over the past few years after sorting things out with the help of the CAB. The CAB advised us not to contact the Royal Bank of Scotland until they contacted him as that is the largest debt and they had not made contact since Febuary 2002...today we received a letter from a company called CapQuest whom in total are demanding £10700. We contacted them immediately to sort this out and asked for a full and final payment amount as I have an excellent credit rating and was going to put it on an interest free card.

They offered £7984 if we paid today which was just too much but they would not budge...does this sound a reasonable offer or could I expect it to be better? None of the mortgage or bills etc are in his name everything is in myne but can they still touch the house? We dont know what to do next or how to deal with this..they are now charging a further 1% interest on top as we have contacted them and activated the account!!!

Can anyone offer us any advice on how to deal with this and what to do next please?

HBFS

In my extremely limited experience, that seems like a decent-enough settlement offer. Not the best, but at least they were willing to settle. Perhaps write a letter to them asking for a slightly less figure (perhaps 7K)?? I've actually no idea whether or not I've helped at all, sorry!

cazaline

Just been looking through the threads regarding this company capquest and it doesnt look good.

The last contact my husband had with the royal bank was in Feb 2002 so the 6 year rule would have been up in Feb 2008...if we hold out will it still count?

Also the debt was incurred in Scotland but we now live in England, when you go onto the National Debt website it asks you to click on which country as the laws are different so which one would we come under...
Thanks

wilkster5

I dont think the laws will make much difference in relation to your circumstances, it's more to do with how the courts work. I't a shame you didn't just ignore this letter as you would have been time barred in Feb as you said, but since you have made contact that rule no longer applies as far as I am aware. Settlement seems ok, but as mentioned by HBFS I would offer them £7000 take it or leave it, see what they say, you can always pay the full settlement if they stand their ground. Be asscertive dont let them bully you.

itsnever2lateisit?

The rules for Scotland are different, so if the original credit agreement took place in Scotland it MAY already be statute barred as there it is 5 years. Hopefully some folks who actually know will see this thread and give you a definative answer

Gale_10

I am not sure if it is statue-barred because it started off in Scotland, but I would write and ask two things.

Firstly I would write and ask them to provide you with a CCA and a letter of assignment. You have to enclose a cheque or postal order for £1 to do so.
You need to write at the top of the letter I do not acknowledge any this debt. That is very important because otherwise they could suggest that you are acknowledging it.
If you write and ask for a CCA and Letter of Assignment, the debt is in dispute and while it is in dispute they cannot take any legal action on it.
If they cannot provide you with a CCA and letter of assignment then the debt is legally unenforceable, you do not have to pay it.

Even if you do find that do send you a Consumer Credit Agreement and letter of assignment, which I very much doubt because this company have a reputation as shysters and try and extract as much money from the victims I mean people they contact, its a good delaying tactic.

You could also suggest to them that as you lived in Scotland when this agreement was taken out it is already statue-barred. I am not entirely sure that it is the case - but again it can work as a delaying tactic.

Hopefully it is already statue-barred and you wont have to pay it. If it isn't or they claim it isn't - well keep up the delaying tactic for a couple of months and it will be.

There is a template letter on here that shows you what to write to these DCA's requesting a CCA, I will see if I can find it for you.

Gale

Gale_10

Hi again,

Here is one I have found - there are others though.

Account number - xxxxxxxxxx

This letter in no way acknowledges that I hold a debt with your organisation or any other.

With reference to the above account, I would like the following information provided to me at your earliest convenience.

1. A true copy of the alleged agreement you refer to. This is my right under your obligation to supply a copy of the agreement under the legislation contained within s.78 (1) Consumer Credit Act 1974 (s.77 (1) for fixed sum credit). Your obligation also extends to providing a statement of account. I enclose a £1 postal order in payment of the statutory fee, PO Serial Number XXXXXXXX.

2. The deed of assignment allowing you to collect this debt

3. A statement of account

I would request that this data is provided to myself within the next 12 + 2 days, if you are unable to provide this data then I must insist that you cease chasing this unsubstantiated debt.


ok, then don't sign the letter just print your name - these DCAs have been known to forge signatures. If they send you some paperwork, make sure it is indeed a Consumer Credit Agreement and not just an application for credit, sometimes they try it on with one of those.

If they don't reply in another thirty days, they are breaking the law and you can report them to the FSA. They can take away the DCAs licence and fine them £3,000 I believe.

I hope it turns out ok for you, keep posting,

Gale

fletch3163

http://www.hmrc.gov.uk/manuals/IHTmanual/IHTM28384.htm

This article might give some help.

fletch3163

And this link is specifically aimed at Scottish debt I think. I've not read all the way to the end but apparently there's a letter you can use. You should be careful though because, worse case scenario, you only have a few months to be out of the woods under English Law so belt and braces and all that.

http://www.bdl.org.uk/images/Prescrition%20and%20Limitation%20(Scotland)%20Act.pdf

The biggest thing is you shouldn't commit anything to writing, nor should you make a payment. It would start your 5 or 6 year time bar from that date.

Gale_10

Thank you fletch; cazaline, I would draw your attention to this bit:

"If the debtor acknowledges the debt in writing or makes a part payment within the original limitation period, then the time limits start to run again from the date of acknowledgement or the date of payment. "

So by acknowledging over the phone wouldn't necessarily count. Super!:D

Gale

rog2

Hi caz - the law on 'statute barred' debts is, indeed, different in Scotland, where it is covered by the terms of the 'Prescription and Limitation (Scotland) Act 1973.
If, during the 'Limitation Period', of five years, your husband made no payments towards, nor acknowledged in writing, the alleged debt, and providing that the original creditor has not already obtained a decree against you, then it is more than likely that the 'debt' is statute barred' and can not be pursued through the courts.
Once you have informed CRAPQUEST that you will NOT be paying the 'alleged debt' because it is statute barred (the ONLY reason that you need give) then they should stop trying to pursue your husband for payment.
For a full overview of how the Prescription and Limitation Act 1973 will give protection to your husband, along with a template letter that he should send to the pond-life at CRAPQUEST, have a look at the following link:

http://www.nationaldebtline.co.uk/scotland/factsheet.php?page=23_prescription_and_limitation_act

Do not worry about ANY contact after the end of the 5 year 'Limitation Period' - Once a debt becomes 'Statute Barred' it remains 'Statute Barred' regardless of any communication/payment.

Be VERY wary of CRAPQUEST - they will try all sorts of tactics to try and convince you that this debt is still pursuable - hardly surprising as they probably 'bought' the debt for a few pence, but stand to make thousands of pounds.
Send the Template Letter and post any replies on this forum.
Good Luck.