strange new Capquest Letter

[caledfwlch]

Just had a letter from Capquest - instead of the usual identical capquest and scotcall threats that emerge now and then this is a little different. Has anyone else had this, and given what they are offering, does it sound likely they would be unable to fulfill a CCA request, or is it evidence they do have everything needed for any court action. (the annoying thing is i dont remember when i originally defaulted with Egg, I could be coming up towards 6 years or still have a year or 2 to go) They have bought this debt, not that I ever received a notice informing me, just a threat letter out of the blue demanding their money.

 

Dear Mr Caledfwlch.

 

As you will now be aware your account is being processed for legal action.

 

I am corresponding with you as the Managing Director for the CapQuest Group. Your account has been pre-selected for a one time solution to settle your account.

 

This is not a gimmick and nothing sinister, just a project that I am personally promoting to encourage you to clear this debt and save a considerable amount of money doing so.

 

My plan is simple:

1. You agree to pay an amount of your choosing by Direct Debit or another method that may suit you.

 

2. All interest that has been applied since we acquired your account will be removed and no further interest added. This currently amounts to £111.88 leaving a balance of £1216.34.

 

3. For each payment that is received in line with the arrangement made, we will credit your account with an amount equal to 30% of your payment. That is to say, you pay £50.00 and we will credit your account with another £15.

 

If you comply with the arrangement you will save at least £476.78.

 

To start this project I am also offering you a delayed first payment. Your first payment will not be required until 30 APR 07, all you need to do is contact our Customer Services line on 0870 084 3505 (national call rates apply) This number has been specially selected for this project and therefore if you have any query or question this team will assist you.

 

Waffle waffle about setting up direct debits.

 

if at any time you find yourself in difficulty, and you will not be able to make a scheduled payment, telephone us and we will reschedule your account without penalty. If, however, you fail in your commitment without good cause or reason the offer will be withdraw.

 

I gope that you seriously consider this and make the right choice.

 

Mike Daniels.

 

Given the endless previous threatening letters always with my address misspelt and no real surety if i live there, that they and scotcall have sent and capquests reputation, this seems a remarkably generous offer, I am also intruiged by the refference to this not being "anything sinister".

 

Any thoughts?

[alix2]

Maybe this is an attempt to get you to pay without questioning it but did you send a CCA request to them at all as you didnt state you did. If you didnt maybe now is a good time to do so. Remember DONT CALL THEM keep everything in written format incase it does go to court

 

alix2

[stevesj]

I WOULD BE SUSPICIOUS - if an offer is too good to be true, it probably is etc.

 

why would anyone match payments by such a percentage, to reduce a debt owed (bought by a DCA)? they must have paid a greatly reduced fee for the debt...........

 

They're actually offering to reduce the debt by the interest and 30% on a monthly payment basis. I think the reality of this is that if you had the money, and made a reduced offer of say £850 regardless of the letter, they would snatch your hand off anyway.....

 

hmmm maybe not such a good idea, and it seems they want to gain admission for the sums owed too by the look of things. I'd do a CCA request, as per other s suggestions, too sinister for me:confused:

[stroke a badger]

Hmmm, thats a hard one. I would suggest before going any further submitting a CCA request just to establish if there a correctly executed credit agreement as ther letter would suggest that there isn't, or am I just being cynical

[stroke a badger]

DAM both Alix2 and Stevesj beat me to it. /walks off in a huff

[FANTASY CHARGES]

Just had a letter from Capquest - instead of the usual identical capquest and scotcall threats that emerge now and then this is a little different. Has anyone else had this, and given what they are offering, does it sound likely they would be unable to fulfill a CCA request, or is it evidence they do have everything needed for any court action. (the annoying thing is i dont remember when i originally defaulted with Egg, I could be coming up towards 6 years or still have a year or 2 to go) They have bought this debt, not that I ever received a notice informing me, just a threat letter out of the blue demanding their money.

 

Dear Mr Caledfwlch.

 

As you will now be aware your account is being processed for legal action.

 

 

http://www.consumeractiongroup.co.uk/forum/general-debt/71000-beware-re-financing-offers.html

I am corresponding with you as the Managing Director for the CapQuest Group. Your account has been pre-selected for a one time solution to settle your account.

 

This is not a gimmick and nothing sinister, just a project that I am personally promoting to encourage you to clear this debt and save a considerable amount of money doing so.

 

My plan is simple:

1. You agree to pay an amount of your choosing by Direct Debit or another method that may suit you.

 

2. All interest that has been applied since we acquired your account will be removed and no further interest added. This currently amounts to £111.88 leaving a balance of £1216.34.

 

3. For each payment that is received in line with the arrangement made, we will credit your account with an amount equal to 30% of your payment. That is to say, you pay £50.00 and we will credit your account with another £15.

 

If you comply with the arrangement you will save at least £476.78.

 

To start this project I am also offering you a delayed first payment. Your first payment will not be required until 30 APR 07, all you need to do is contact our Customer Services line on 0870 084 3505 (national call rates apply) This number has been specially selected for this project and therefore if you have any query or question this team will assist you.

 

Waffle waffle about setting up direct debits.

 

if at any time you find yourself in difficulty, and you will not be able to make a scheduled payment, telephone us and we will reschedule your account without penalty. If, however, you fail in your commitment without good cause or reason the offer will be withdraw.

 

I gope that you seriously consider this and make the right choice.

 

Mike Daniels.

 

Given the endless previous threatening letters always with my address misspelt and no real surety if i live there, that they and scotcall have sent and capquests reputation, this seems a remarkably generous offer, I am also intruiged by the refference to this not being "anything sinister".

 

Any thoughts?

 

 

R-U-M-B-L-E-D

 

 

http://www.consumeractiongroup.co.uk/forum/general-debt/71000-beware-re-financing-offers.html

[ODC]

I have had two of these identical letters re two different debts. Both mine are nearing statute barred time so it seems a last ditch effort to get the clock restarted.

 

IGNORE his generous offer

[dannyboy660]

Just had a letter from Capquest - instead of the usual identical capquest and scotcall threats that emerge now and then this is a little different. Has anyone else had this, and given what they are offering, does it sound likely they would be unable to fulfill a CCA request, or is it evidence they do have everything needed for any court action. (the annoying thing is i dont remember when i originally defaulted with Egg, I could be coming up towards 6 years or still have a year or 2 to go) They have bought this debt, not that I ever received a notice informing me, just a threat letter out of the blue demanding their money.

 

Dear Mr Caledfwlch.

 

As you will now be aware your account is being processed for legal action.

 

I am corresponding with you as the Managing Director for the CapQuest Group. Your account has been pre-selected for a one time solution to settle your account.

 

This is not a gimmick and nothing sinister, just a project that I am personally promoting to encourage you to clear this debt and save a considerable amount of money doing so.

 

My plan is simple:

1. You agree to pay an amount of your choosing by Direct Debit or another method that may suit you.

 

2. All interest that has been applied since we acquired your account will be removed and no further interest added. This currently amounts to £111.88 leaving a balance of £1216.34.

 

3. For each payment that is received in line with the arrangement made, we will credit your account with an amount equal to 30% of your payment. That is to say, you pay £50.00 and we will credit your account with another £15.

 

If you comply with the arrangement you will save at least £476.78.

 

To start this project I am also offering you a delayed first payment. Your first payment will not be required until 30 APR 07, all you need to do is contact our Customer Services line on 0870 084 3505 (national call rates apply) This number has been specially selected for this project and therefore if you have any query or question this team will assist you.

 

Waffle waffle about setting up direct debits.

 

if at any time you find yourself in difficulty, and you will not be able to make a scheduled payment, telephone us and we will reschedule your account without penalty. If, however, you fail in your commitment without good cause or reason the offer will be withdraw.

 

I gope that you seriously consider this and make the right choice.

 

Mike Daniels.

 

Given the endless previous threatening letters always with my address misspelt and no real surety if i live there, that they and scotcall have sent and capquests reputation, this seems a remarkably generous offer, I am also intruiged by the refference to this not being "anything sinister".

 

Any thoughts?

 

It's a con.

 

Once you contact that 'special' number they've got you bang in the middle of those telescopic crosshairs.

 

On your total outstanding balance, (1216.34?) they will have paid much less than 100 for this debt (assuming they have actually bought it) and it's interesting they mention a figure of 50 quid. Two payments from you they get their money back, third month they're into profit, fourth month they won't receive your payment for some mysterious reason, and then whoops-a-daisy, that leads to a CCJ* and all that follows.

 

Cuffed, stuffed, and off down the road to s#1t creek, without a canoe.

 

Just an opinion

 

It could be genuine, but do you trust them??

 

* or a breach of your "agreement" and back comes the interest etc, etc,

[gizmo111]

Most DCA's offer to settle at less than the full amount, but usually will only accept a lump sum. This seems to be a way of offering reduced settlement over a period of time. Can't see any tricks in it.

[dannyboy660]

Most DCA's offer to settle at less than the full amount, but usually will only accept a lump sum. This seems to be a way of offering reduced settlement over a period of time. Can't see any tricks in it.

 

....unless they are expecting far more than they paid for it. You could try it for a couple of months and when they slap all the interest etc back on for a default or late payment, which they will make sure happens, you could then challenge them to take you to court.

 

Contest on the grounds you owe HMRC on behalf of 'the Taxpayer' , not Crapquest. Crapquest will go very quiet, as they've got their money back and they won't want to rock the boat by being possibly the first purchaser challenged in court on the grounds they are also taking HMRC's cut.

 

The principle is the same as the whole "Bank Charges" scenario, which seems to be becoming a Crusade against injustice, whereas standing up to DCA's/Purchaser is morally abhorrent. A lower class of crusader.

 

How does that sound?? :-?

[gizmo111]

....unless they are expecting far more than they paid for it

 

Of course they are expecting more they are a business at the end of the day.

 

You could try it for a couple of months and when they slap all the interest etc back on for a default or late payment, which they will make sure happens, you could then challenge them to take you to court.

 

Which they may well do and the OP runs the risk of getting a CCJ

 

Contest on the grounds you owe HMRC on behalf of 'the Taxpayer' , not Crapquest. Crapquest will go very quiet, as they've got their money back and they won't want to rock the boat by being possibly the first purchaser challenged in court on the grounds they are also taking HMRC's cut.

 

Not sure what you mean - where does HMRC come into it?

[ODC]

I think its just another ploy. Why after all this time of threats, harassment and warnings of impending illegal action should capquest suddenly become so nice and tell me and doubtless 1000s of others that we have been specially selected for this fantastic offer. Coincidentally the 30% they offer to add is what you would get added by the taxman to any charitable donation you make. Call me a cynic if you wish but I smell a rat with this offer. Sounds bit like the readers digest **congratulations Mr ODC you are only one of1% in your area to be selected for our winning draw***

[chowtzu]

Capquest make it very easy to become suspicious about them, my personal treatment by this company is disgraceful.

 

I have a court action due to commence shortly in the County Court against Capquest and one of my points is that Capquest failed in there letters to outline any of there terms and conditions and also that they charge interest.

 

In my case being in debt was not through any fault of my own, like many people it was one of life’s situations, and as it turned out the money Capquest where chasing is not owed. The letters I received from Capquest where disgusting and threatening, there behaviour and the accusations they made about me, where far worse than any of there letters.

 

If Capquest really wanted to help people to become debt free there offer would be a far more generous than that.

 

Lets say they bought a debt of £1000 which was 4 years old how much did they buy this debt for; some say between 1% and 16% of debt value.

 

Lets say based on age and quality of the debt data they bought it for 10% that only £100

 

Capquest offer to give £15 in every £50 you pay or 30% so £65 per month comes off the debt balance, each month.

 

For sake of argument and to keep things whole 15 months your debt free.

You pay £750 in 15 months Capquest make £650 as they bought the debt for £100.

 

Come on Capquest why don’t you at the very, very least match the payments you still make £400, not all profit I know but think about it, and its potential.

 

That is my opinion.

[dannyboy660]

"Of course they are expecting more they are a business at the end of the day."

 

Which is why you have the right to challenge them. If you don't want to add to their Company profits...why should you?? Individuals are "businesses" too, so of course I would challenge it with an aim to add to my profits.

 

 

"Which they may well do and the OP runs the risk of getting a CCJ"

 

..another reason to ignore them. I'm assuming now that you've not been involved with a DCA, or that all you experiences have been relatively pleasant ones.

The risk of a CCJ is very small. If you do get taken to court and not contest, you only pay an amount you can afford and all interest etc is frozen, now that's not such a bad thing. Also, with a CCJ you can apply for an Administration order and gain the courts protection. There's no need for anyone to be frightened of Courts, or CCJ's.

 

"Not sure what you mean - where does HMRC come into it?"

 

I'm assuming they've purchased the debt. The OC will have offset part of it's bad debt for the year with the assistance of it's underwriters and the 'Taxman'. Allow Crapquest to start the court proceedings and then challenge them to produce full documentation on the grounds you may owe some or all of the balance to HMRC, etc etc......I think you get the picture. Crapquest have got their money and and won't bother killing the goose by going into all the fine details of purchasing charged off debt in bulk and the implications to the HMRC and ultimately the taxpayer.

 

It's a nice little earner, and relatively new to the UK if you want to make a quick fortune before someone puts the brakes on it here.

 

Perhaps I should add, for the benefit of any lawyers reading this, I am not accusing Capquest of any specific illegality in their business practise, more of that sector as a whole, and the post should be read as such.

[pmhcfc]

You're not the first person to have this letter..So it's a lie saying it's a unique offer blah blah blah.....All you have to remember is- No Original Agreement = nothing they can do to collect alleged debt.

[shywazz]

Just to let you know i myself have had TWO of the same letters offering such discounts on a supposeingly owed debt, to which i have not replyed to, i have now sent a sar to get all the information for this debt, which there 1st contacted me about back in 2006, then left it for 7 months after i told them it was in dispute, thought all had been sorted, then these letters arrived, dont fall into the trap, the offer by looks of it,. is been offered to most people on there books. just thought i'd let you know. take care and good luck.

[joetay]

Same here, sent a CCA last week due to a letter out of the blue regarding an alleged debt and default against my wife at our old address which we left over six years ago:o

 

Got the same standard 28 day holding letter whilst they get the information from Littlewoods. The next day a 'Pilot' scheme letter offering a 75% reduction, how nice of them! I'm ignoring it and see it as a ploy to cut their losses for an unenforcable and ridiculous debt that we dont even remember having. I think they just want us to ring them so they can get us to admit to the debt. If we dont get our CCA info within the 12 days from my original letter they are going to be finding themselves lumped with a complaint with the OFT etc.

 

God luck and stick to your guns. The sooner these people stop screwing innocent people the better off everyone will be as most of us wont have our situations made worse, and worse and through no fault of our own by nasty little bullying moneygrabbers.

 

How's things going now with the DCA since your last post Cad?

[bonnieday]

I got one of these letters last week after I CCAd them.

 

Got offered the 75% discount too.

 

I am sure that it is very closly approaching the 6 year mark but I dont know the exact date. Would you suggest that the statute barred date is withing the next couple of months and this is a last ditched attempt to get something or is it possible that time is already up?

 

Thanks

[pixieperson]

I too have just received one of these letters from CapQuest. The difference with mine is that it specified the monthly sum that i should pay.

 

I do owe the money they asked for. The debt is mine after I fell on hard times and the debt has apparently been sold to CapQuest. For a long time with CapQuest, I've been trying to make an offer that is feasible to pay but never managed to get one.

 

This offer if it's genuine is good for me as I can actually afford it. I have no objection to paying it, even if CapQuest did buy it for much less. After all, the debt is mine and it's my responsibility to pay it.

 

What I want to know is, are there any pitfalls to phoning them up? If I phone them up is it possible I could be in a worse situation? Could they change the way it's offered and add any nasty terms & conditions?

 

Any advice would be muchly appreciated.

[ODC]

I too have just received one of these letters from CapQuest. The difference with mine is that it specified the monthly sum that i should pay.

 

I do owe the money they asked for. The debt is mine after I fell on hard times and the debt has apparently been sold to CapQuest. For a long time with CapQuest, I've been trying to make an offer that is feasible to pay but never managed to get one.

 

This offer if it's genuine is good for me as I can actually afford it. I have no objection to paying it, even if CapQuest did buy it for much less. After all, the debt is mine and it's my responsibility to pay it.

 

What I want to know is, are there any pitfalls to phoning them up? If I phone them up is it possible I could be in a worse situation? Could they change the way it's offered and add any nasty terms & conditions?

 

Any advice would be muchly appreciated.

NEVER PHONE THEM

 

If they get you on the phone they will try to persuade you to pay even more. If you are happy to accept this offer and believe it to be genuine. Then write to them.

 

I DO NOT ACKNOWLEDGE THIS DEBT.

 

If I were to acknowledge your offer I need an assurance in writing from you that this offer (insert full details from their letter) that this is in full and final settlement of any alleged debt I owe to you or the original creditor. I also want written confirmation that any adverse reports will be removed from my credit record.

 

If this information is forthcoming I will consider my legal position regarding this alleged debt

[caledfwlch]

Firstly, Dont phone them up, secondly Dont phone them up, thirdly, Dont phone them up, in general whatever you do, dont phone them up, get the subtle hint? Unless of course, you want to be bullied, threatened, made to feel like a criminal, have unlawful threats made against you, and have absolutely no evidence of any of this occuring. Any agreement you make will probably be ignored and more threatening letters will arrive.

 

How do you know you owe Capquest money? And equally importantly are you sure they have the legal, lawful right to enforce this debt? Look around these forums for the CCA request information, follow the procedures, if they fail to comply with your CCA information, then why do you owe them money? as an alledgely professional debt purchasing and collection company, they should adhere to every exact letter, syllable and word of the law, if they cannot provide the info you will be requesting under the Info then they have no legal right to collect the debt, and you can then enter the wonderful world of having the defaults removed from your credit file.

 

Capital one have written the money you owe them off their tax bill, and then sold the debt for something like 10% of the original debt to Capquest, in the full knowledge that companies like Capquest can act in a very morally dubious manner, and only a passing aquaintance with the law of the land. I have squared with myself that I hold NO moral obligations to Capquest, to the original creditor yes, but not to the crows, but obviously the original creditor is now gone, and has instead inflicted the Carrion Crows upon us.

 

So your steps are, CCA request, this will show whether they have the lawful right and documentation to collect the debt, if they fail to provide this within very strict legal timelines, THEY then commit a criminal offence and cannot take you to court, or process your data.

 

If they send something alledging to be fulfilment of this request, make sure you check on these wonderful boards to ensure it IS in compliance.

 

If they do fulfill their obligations and they do supply you with original copies of your agreement, you can then start writing letters telling them what you can afford to pay monthly, never let THEM tell you what to pay, YOU only pay what you can realistically afford, dont let yourself starve, go unclothed, or other bills go unpaid to feed these vultures, if you can only afford £5 a month thats fine, if they refuse and take you to court, the Judge also will only award £5 monthly payments as that is what you can truly afford. Dont ever give Debit card details to them, your payments can go by standing order, or ask for giro slips for post office or bank etc, debit card details and direct debit from your account are sadly open to abuse by some.

 

If they comply, and prove their lawful right to collect, you can then enter the wonderful world of data protection requests to your original creditor, so you can check the statements and claim back any unlawful charges that were imposed on the account.

 

Follow all the guides on this site, there are many fantastic people full of help on here, and you will get through it.

 

If you do feel a bit uncertain about not having to pay them back if they fail their legal obligations under the CCA request, you will be in the perfect position to make the deal of your life, say you owe £2000, capquest probably bought it for £100-£200, offer them £250 as full and final settlement etc, get everything in writing, and NEVER EVER EVER TELEPHONE THEM or give them your phone number, I cant stress enough how important it is to have no telephone contact, unless you are prepared to add a recording device to your phone line, they will haunt you everywhere, home phone, mobile, work phone you name it. Help on all this is here on the site.

 

And remember this about the CCA Request - I could send you a letter out of the blue telling you, that you owe me £500. Would you really pay me? or would you investigate? If I then sent you another letter saying, sorry but I dont actually have any written proof that you owe me this money, but im telling the truth honest!, would you pay me then?

[pixieperson]

Thanks very much for your help caledfwlch.

 

I will send off a CCA Request. I can;'t find any information on what to write though. I've been searching the forums for half an hour! Can you help point me in the right direction. the closest I can find is this...

 

http://www.consumeractiongroup.co.uk/forum/general-debt/83035-guidelines-requests-original-agreement.html

 

What exactly do I write? Is there a template letter about anywhere that I can copy?

[ODC]

Thanks very much for your help caledfwlch.

 

I will send off a CCA Request. I can;'t find any information on what to write though. I've been searching the forums for half an hour! Can you help point me in the right direction. the closest I can find is this...

 

http://www.consumeractiongroup.co.uk/forum/general-debt/83035-guidelines-requests-original-agreement.html

 

What exactly do I write? Is there a template letter about anywhere that I can copy?

 

 

Here you go Template N

[pixieperson]

OK, thanks very much. I'm new to all this and am being a bit slow. I very much appreciate you guys helping me out.

 

I will send off the letter (based on template N) to Capquest by recorded delivery along with a cheque for £1.

 

Is that correct?

[ODC]

OK, thanks very much. I'm new to all this and am being a bit slow. I very much appreciate you guys helping me out.

 

I will send off the letter (based on template N) to Capquest by recorded delivery along with a cheque for £1.

 

Is that correct?

I gave you my original advice because I assumed you were happy to pay off the debt as you thought it was legit. Had I known you wanted to query it I would of course advised the CCA letter first