Should I reply or ignore?

BootsStuckintheMud

In Feb 2020 I wrote to all my creditors asking for a copy of my credit agreement.

Almost all of them replied. Though 1 admitted the form was illegible and so was unenforceable. I have since been able to negotiate settlements with all of them and have thankfully cleared all debt except for a dodgy issue with my student loan (which my MP is now fighting my corner on).

However, 1 of them was listed with Moorcroft, but with Arrow dealing with it on their behalf. As I had not had any reply from them I contacted them by phone and was told that, as they were unable to produce this document they would no longer be dealing with it and would be passing it back to Moorcroft.

I then heard nothing until about a year ago when I believe I received a letter saying it had been sold (or passed) on to another company. I ignored this as it is my understanding I now need to effectively not acknowledge the debt for 5 years (or 6 years? I live in Scotland and can't remember which is correct).

I have now received a letter from Azzurro Associates titled 'Periodic Statement' and it it states that Capquest Debt Recovery Limited has been appointed as administrators of this debt.

Effectively it seems to just be a letter confirming that the balance is the same as it was a year ago. They don't seem to be threatening anything (for now at least) but as it's a different company, should I be contacting them to confirm that the debt is unenforceable or should I just leave it and let the clock continue to tic?

sourcrates

The new owner will not be aware of events prior to the debts purchase.

Who was the debt originally with, as you might be sailing under a false flag here, non of the collection companies or debt purchasers would have the credit agreement, it always stays with the original creditor, they may not even have asked them for it, did you make the request in writing enclosing the statutory £1 fee?

BootsStuckintheMud

sourcrates said:

The new owner will not be aware of events prior to the debts purchase.

Who was the debt originally with, as you might be sailing under a false flag here, non of the collection companies or debt purchasers would have the credit agreement, it always stays with the original creditor, they may not even have asked them for it, did you make the request in writing enclosing the statutory £1 fee?

The debt was originally with Egg. It is from 2005 originally and it was on my DMP until 2020 (making small payments along with all the others).

But yes, I wrote to them with registered delivery and enclosing the statutory £1 and, as I say, they replied (I can't remember if it was in writing or via phone call) saying, as they could not produce this document they were handing the file back.

My understanding is, the company who owned the debt was using a solicitor to manage the payments, they could not provide the agreement (whether they'd asked for it I don't know) and so they handed it back. Since then it has been sold on and no one has pushed me for payment really. They just sent me the letter saying it had been passed on and now this one.

I followed the same protocol I had with the other creditors (none of whom were the original creditors) and they all produced the documents. Though, as mentioned, one was extremely smudged and illegible, so was marked (by them) as unenforceable and off the back of that, as I had 2 others with them, they agreed a good settlement figure for all 3 debts. Another produced the document and then agreed a settlement. And another produced the document and did not agree to a settlement, but I contacted them again recently and out of nowhere, they sent me a letter stating the balance was now clear (despite me believing there was around £5K remaining).

That only leaves this one, but it is huge if it comes back into play (over £18K). Having reduced my overall debt from £72K 18 years ago, it's good progress. But I thought I'd cleared everything until this letter appeared.

sourcrates

Good old Egg, many of their credit agreements were irredeemably unenforceable due to various issues they had.

If the Egg agreement was from 2005 there is a very good chance the agreement either no longer exists in records or, if it does, is likely to be irredeemably unenforceable.

I have seen numerous claims for assigned Egg/Barclays debts whereby the agreement could not be produced or, if it was, it was unenforceable for various reasons.

If Capquest start asking for money, then you should remind them of the debts status.

BootsStuckintheMud

sourcrates said:

Good old Egg, many of their credit agreements were irredeemably unenforceable due to various issues they had.

If the Egg agreement was from 2005 there is a very good chance the agreement either no longer exists in records or, if it does, is likely to be irredeemably unenforceable.

I have seen numerous claims for assigned Egg/Barclays debts whereby the agreement could not be produced or, if it was, it was unenforceable for various reasons.

If Capquest start asking for money, then you should remind them of the debts status.

Awesome thanks.

So essentially I do nothing for now and only act if they start making demands or threaten court etc?