OPOS CAPQUEST DEBT RECOVERY REQUEST - Is it real?

justanotherperson1

I received a letter out of the blue telling me i have an opportunity to pay a reduced debt. Everything had been set up so i could just pay online including pin number.

I found this really odd. 

Having read the letter I noticed the client they say they were acting on behalf of, and know I have never had any dealings with that company.

So I phoned them, and asked politely what period of time the debt was for and to clarify who is owed.  

I then clearly stated I have never had dealings with that company, and the time period they quoted was over 15 years ago.

Having never had any previous dealings or contact regarding this - i searched online and found out that this is covered by the statute of limitations which i said again, calmly and a bit confused - to which the person on the phone quickly said, they would close the account and shut this down.

Im sharing because it was all a bit weird. I've dealt with collections agencies before, and never had such a bizarre experience.

Grumpelstiltskin

Debt collectors seem to be getting more and more desperate to try and con money out of anyone they think they can fool into paying for any random statute barred debt they have got their hands on.

Really you shouldn't have phoned them, it just encourages them. If you do hear from them again you need to send them a provit letter and that usually stops them.

sourcrates

What RAS said, contact in writing only where debt collectors are concerned.

DisabledDan

Surely we should be making complaints to the Financial Conduct Authority and asking for new rules that make it an offence for them to chase debt that they have not endured are enforceable.

i.e. They possess a CCA agreement and/or the debt is not Statute Barred

It should also be a criminal offence to allege these micro payments or that a CCJ has been obtained when they have no evidence of same.

Karonher

They should still be able to ask for money they are owed if they are asking the right person. Some people may actually want to pay their debts and are now in a position to do so.

DisabledDan

Karonher said:

They should still be able to ask for money they are owed if they are asking the right person. Some people may actually want to pay their debts and are now in a position to do so.

I don't agree, if the debt is unenforceable then the rules say they can't ask for it, those are FSA rules and quite right too.  The Limitations Act (1980) is already slanted towards them, they don't just have 6 years, but 6 years from last payment or default date or acknowledgement of the debt.  

Then at 5 years and 6 months they go get a CCJ giving them ANOTHER 6 years.

If you lend me money as an individual I might agree with you, but the money they lend was not theirs to lend, it did not exist before you make the agreement, they create it on their computers.  When they report the debt as defaulted to the central bank they may lend the same value again. 

When you look at how this fractional reserve is calculated over and over again it is absurd, allowing the debt to be sought at all once defaulted should be banned, not for the consumer, but because it creates an economy that will always have a population in debt.

Consider the bank creates £30k to lend you for your new kitchen, you service the debt at 25% for years with money you earn not invent.  The bank is regulated in terms of liquidity and when they give up on the debt their liquidity is improved by reporting the bad debt to the central bank.  At that point they lend someone else £30k, but your £30k is still a debt in the economy, being enforced by the likes of CAPQUEST, so now the country has £60k of debt.  Economists make a lot of noise about how bad it is if we have too much credit.

https://www.ons.gov.uk/peoplepopulationandcommunity/personalandhouseholdfinances/debt 

The only people that can invent this money are authorised banks, which leads to the nasty feelings and conspiracy theories about banks.

In my view, bad debt is caused by irresponsible lending and there appears to be no punishment to the banks for doing this, they seek to trap people into a place where they can just about manage to pay the monthly interest and the minimum payment, but those minimum payments are irresponsible.  I know people like MIL who have lived on credit cards maxed out  for 50+ years, the interest they paid is obscene and the money was created out of thin air.

I am sure if I created an app and by downloading it you could invent money as long as you could guarantee you could cover what you invent you would love that.  However, not only is it restricted to banks but when they screw up the Tax Payer bails them out, but you and I will never have the luxury of that bail out.

reggaeliz

I have had the same letter as the first person and it’s got my name but my sister in laws address which seems bit weird plus the same account thing set up with account number as the first person on post