capquest own old lloyds credit card debt help

[kayles5]

Hi can anyone help me i just need some advice really what to do. Lloyds have sold a credit card debt to capquest and now im recieving letters from them they also have my phone number but i dont know how they got it. The debt is from 2007, i paid a dca in 2008/09. But then i couldnt afford it so i stopped again. I have checked my credit file and it doesnt say lloyds anymore just capquest and the previous years have disappered all there is, is a default this month. I dont know what to do for the best i have 2 other old debts with lloyds which are still lloyds on my credit file there due to be sb in dec. I dont want capquest to take me to court and i end up with a ccj if my file will be okay in dec. So what do i do?? Do i contact them and pay?? Do i ignore them?? Are they likely to take me to court?? Any advice would be great thanks. Oh and the balance on the cc is 2977. Cheers guys.

[labman]

Re: capquest own old lloyds credit card debt help

The first thing you need to do is send them a 'Prove It' letter, asking them to prove they have the right to collect this debt. I've attached a copy of the letter you need to send.

If they are phoning you, then refuse to go through any security with them and state that you will only communicate with them in writing for the avoidance of doubt. This is your absolute right under the OFT Debt Collection guidelines. If phone calls are close to harrassment levels, keep a diary of the dates and times of them, and where they are calling you - home, mobile, work etc.... and we can sort out a harrassment letter for you. In fact there is a new one just been written on the site.

Here's the letter you need for now:



[Name/Address]

[Date]

Dear Sir,

You have contacted me/us regarding the account with the above reference number, which you claim is owed by myself/ourselves.

I/we would point out that I/we have no knowledge of any such debt being owed to [insert company name].

I am/we are familiar with the CPUTR 2008 and the Office of Fair Trading's Guidance on debt collection, which states that it unfair to send demands for payment to an individual when it is uncertain that they are the debtor in question.

I/we would also point out that the OFT say under the Guidance that it is unfair to pursue third parties for payment when they are not liable, AND in not ceasing collection activity whilst investigating a reasonably queried or disputed debt you are using deceptive/and or unfair methods.

Furthermore ignoring and/or disregarding claims that debts have been settled or are disputed and continuing to make unjustified demands for payment amounts to physical/psychological harassment.

I/we would ask that no further contact be made concerning the above account unless you can provide evidence as to my/our liability for the debt in question.

I/we await your written confirmation that this matter is now closed. Otherwise I will have no option but to make a complaint to Trading Standards and also inform the Office Of Fair Trading of your actions.

I/we look forward to your reply.

Yours faithfully

[kayles5]

Re: capquest own old lloyds credit card debt help

Thank you. I no that i owe this money, also i did get a letter off lloyds saying they sold it to capquest. Will it help by sending that letter?? Also i thought if i ignored them would they go away?? Or will they just take me to court?? Thanks so much for your help!

[labman]

Re: capquest own old lloyds credit card debt help

IMO, you're best sending the letter. Only you can decide though. :beagle:

[kayles5]

Re: capquest own old lloyds credit card debt help

Okays thanks labman ill wait see what the next letter is off them then ill send it. If they cant prove i owe the money what happens then??

[kayles5]

Re: capquest own old lloyds credit card debt help

Ive just looked at my credit file again, and the default date on this is the 17/12/2007. I cant remember if i made payments to a dca to this card in 09 or wether it was the loan i had, but the payments on my flie just said default every month. Do you think lloyds sold this because it might go sb in dec??

[labman]

Re: capquest own old lloyds credit card debt help

Okays thanks labman ill wait see what the next letter is off them then ill send it. If they cant prove i owe the money what happens then??

Then we check everything is in place, exactly it should be. If all is well, we arrange an affordable and sustainable repayment plan is my way having done that. There is another train of thought on here that goes the Unenforceability route, where you try to prove the debt is UE for a period of six years, when it then becomes Statute Barred. This is fine if, for example, they don't have a copy of the original agreement, and if your nerves will stand it.

Only you can decide which route is the one you wish to travel - we'll then help you on that route to the best of our abilities. :beagle:

[kayles5]

Re: capquest own old lloyds credit card debt help

Thanks so much!! Labman okays i will wait for now and see what the next letter i get from them, ill keep you posted thanks again!

[labman]

Re: capquest own old lloyds credit card debt help

Thanks so much!! Labman okays i will wait for now and see what the next letter i get from them, ill keep you posted thanks again!

Sorry, just re-read your post. What happens if they can't prove it? Well until such time as they prove it exists, you have nothing further to say to them . :beagle:

[kayles5]

Re: capquest own old lloyds credit card debt help

Thank you so much!! Ill see what there next letter says thanks labman!!

[Captain Haddock]

Re: capquest own old lloyds credit card debt help

Just been browsing the forum and spotted this. It seems that, in an attempt to look squeaky clean on the road to re-privatisation, Lloyds is divesting itself of old un-enforceable debts and soon-to-be statute-barred debts, so why not now let the rotteilers have their day, hmm?

My wife attracted a letter recently from Crapquest. Very odd as she has never received a letter of assignment from Lloyds so she told Crappers to go find it.

[labman]

Re: capquest own old lloyds credit card debt help

The NOA can come from Capquest themselves now, it doesn't have to be Lloyds. Did she receive any NOA? :beagle:

[Captain Haddock]

Re: capquest own old lloyds credit card debt help

The NOA can come from Capquest themselves now, it doesn't have to be Lloyds. Did she receive any NOA? :beagle:

Really? But shouldn't the OC, as a duty, have to inform a purported debtor that it has sold all rights to the account and to also name the purchaser??

Cosy welcome letter received mentioning sale. Differs considerably from any other NOA I have seen.

[Captain Haddock]

Re: capquest own old lloyds credit card debt help

Not wanting to hijack this thread but when did the Law of Property Act get amended to remove 'Any absolute assignment by writing under the hand of the assignor..' ? I am willing to be proved wrong but I cannot see why anyone would accept a third party's word that they now own a contract that one entered into with the original creditor without word from them also!

[labman]

Re: capquest own old lloyds credit card debt help

The Consumer Credit Directive 2008/48/EC (“the Directive”) and the Consumer Credit (EU Directive) Regulations 2010 introduce new rights and obligations. The Department for Business, Innovation and Skills has decided that there will be a transitional period and any new agreements entered into after 31 January 2011 must comply with the new requirements.
The key changes are as follows.

• Adequate explanations. A duty for lenders to provide adequate explanations to consumers about the credit on offer to enable them to decide whether it is suited to their needs and circumstances. (Regulation 3 and 4 of the Directive).
• Assessment of creditworthiness. An obligation for lenders to assess the creditworthiness of consumers before concluding a credit agreement or increasing the amount of credit available under an existing agreement. Lenders can decide how to assess creditworthiness, but are required to base their assessment on information obtained from the consumer, where appropriate and from a credit reference agency, where this is necessary. (Regulation 5 of the Directive).
• Refusal of credit. If an application is refused on the basis of information from a credit reference agency, the lender must inform the creditor of this when it declines the credit. (Regulation 40 of the Directive).
• Right to withdraw. The consumer has the right to withdraw from a credit agreement within 14 days without giving any reason. This replaces the current more limited right to cancel some types of agreements in certain circumstances. (Regulation 13 of the Directive).
• Assignments of debts. If a debt is assigned, the consumer must be informed of this by either the lender who buys the debt or the lender who sold the debt. (Regulation 36 of the Directive).
• Credit intermediary links. Credit intermediaries must disclose their links to lenders and disclose and agree fees for their services with the consumer. (Regulation 41 of the Directive).
• Right to repay early. The consumer has the right to repay an agreement early in part and to receive a reduction in the total cost of the agreement as a result. The existing legal framework for full early repayment has been retained and extended to cover partial early repayment. (Regulation 29-34, 59-62 and 77-84 of the Directive).
• Right to terminate. The consumer has the right to terminate an open-end credit agreement at any time unless the parties have agreed that a period of notice not exceeding one month should be given. The lender can also terminate subject to given the consumer at least two months’ written notice. The lender can also terminate or suspend the consumer’s right to draw down an open-end credit agreement provided they give objectively justified reasons for doing so. (Regulation 37-38 of the Directive).

The Directive also amends or extends existing requirements:

• Advertisements. Advertisements that contain specific information about the cost of the credit need to provide a representative example of a credit offer. The Consumer Credit (Advertisement) Regulations 2010 will dispense with the typical APR approach.
• Pre-contractual information. Consumers must be given pre-contractual information in writing according to a specific format set out in the Directive. This information is set out in the Consumer Credit (Disclosure of Information) Regulations 2010.
• Contractual information. Other contractual information required is set out in the Consumer Credit (Agreements) Regulation 2010.
• Unsecured overdrafts. Non-business unsecured overdrafts will be subject to the requirements for both pre-contractual and contractual information although an overdraft can be arranged urgently without prior written information. Where a current account allows the account holder to overdraw without a pre-arranged overdraft, information about the charges must be included in the agreement. (Regulation 19 of the Directive).
• Obligation of the creditor in respect of goods. Where a credit agreement is used to purchase goods, the consumer can pursue the creditor for a remedy. The value of the goods must be at least £30,000, the credit agreement must be for £60,260 or less and the consumer must have tried to obtain satisfaction from the supplier first. This supplements s75 of the Consumer Credit Act where the cash price of goods is not less than £100 and not more than £30,000. (Regulation 25 of the Directive).
• The total charge for credit and the APR. The total charge for credit and the APR must be calculated in accordance with a specified formula. The formula is different to the one which already applies in the UK , but the result it produces is the same and the assumptions are broadly similar. (Total Charge for Credit Regulations 2010).
• Variation of interest rate. Where an agreement allows for variation of an interest rate, notice of variation must be provided to the consumer before the change takes effect. This is similar to the current requirements.