Abbey > Wescot > Capquest

[Coactum]

In 2004 I took a loan from Abbey National to buy a car. Please note that this was a personal loan and not a Hire Purchase Agreement. The agreement progressed satisfactorily until July 2006 when my cash flow problems first started. I contacted all creditors to see if I could make alternative arrangements including Abbey. Abbey later advised me that they had transferred my account to Wescot who I understood had purchased the outstanding balance. I paid Wescot variable monthly amounts in accordance with my fluctuating income.

In March 2009 I was advised that I may be able to return my car to the finance provider because I had repaid more than half of the original sum. As stated above this is not a Hire purchase Agreement and so this advise was erroneous, however at the time to explore this further I requested a copy of my Consumer Credit Agreement by writing to Wescot during April 2009 enclosing £1 and requested a copy of my Consumer Credit Agreement. A follow up letter was sent on a few weeks later because I had had no response and a letter intimating my dispute was sent on the following month. In this letter I advised Wescot that I considered my account to be in dispute in accordance with section 78(6) of the Consumer Credit Act 1974 through their failure to communicate of provide a valid CCA. From that date onwards I consider that a valid complaint exists. Wescot ignored my request.

In August I received a letter from Capquest stating that they had purchased my load from Abbey. I responded stating that I had previously been led to believe that this debt had already been sold to Wescot and that I considered the account to be in dispute. Further letters were exchanged between myself and Capquest culminating in a letter from them received today and enclosing the abbey agreement.

The agreement clearly shows my name, the purpose of the loan, the amount borrowed, the interest to be charged, the number of payments and the frequency of payment together with stating that it is a 1974 act regulated agreement etc., and so, I think this puts to rest any dispute that I might have claimed to have. Added to this it is not as I though a Hire purchase but a Personal loan as stated earlier and about 40% of the original loan remains outstanding.

I am self employed and at present I have very little work. In the past 6 months my average net income has only been about £450 per month and I have a tax bill to pay this month and so any income will be required to meet that. Therefore there is no way that I can pay unsecured creditors.

Any advise gratefully received.

[Coactum]

I have a follow up letter from CapQuest today this time intimating that they intend to commence legal proceeding next week unless I communicate. Mind you the letter refers to English legal process and I am in Scotland so clearly the author of the letter needs educating on the difference. I will reply on Monday (missed today’s post collection already), so any helpful suggestions gratefully received.

[Coactum]

I've just been advised on another thread that a lender may not be permitted to sell a debt unless a default notice has been served. Can anyone clarify?

[blueotter]

Hopefully somebody can advise on whether they need to have sent a default notice before selling the account on but as for their threat of court action,non production of a cca is a valid defence for starters.

Why don't you send the standard letter to capquest asking them to legally comply with your cca request and suggest that if they can't do so then they return it to whoever they bought it from.

[Coactum]

I sent a letter to CapQuest early January after they produced the copy of the CCA. In that I questioned whether Abbey had the right to transfer a disputed debt becuase until they had furnished me with a copy of the CCA (requested April '09, supplied January '10) i regarded the account to be in dispute. In that letter raised issue with Abbey's failure to issue a Default Notice but as they seem to be ignoring all this I began to wonder if I was barking up the wrong tree. Then you made me think I might have been onto something in MBNA thread.

[Coactum]

I have sent an email to them today requesting a response to my previous letter but so far this has not been acknowledged. This is not the first DCA that I’ve had dealings with you show an email address on their letterhead yet fail to ever answer any messages.

[Coactum]

They responded stating:

We thank you for your correspondence and respond as follows;
interest is added at 1% per month unless an arrangement is in place and adhered to.
The interest is being charged in accordance with the terms and conditions of the original agreement.

We look forward to hearing from you.

What the blazes is that all about?

The copy agreement they sent me clearly shows interest at 5.8% per annum and the sum sought being the total outstanding balance includes interest!

[Coactum]

I am now in receipt of a threat of litigation letter from cap Quest written by none other than Marcus Butterworth who has been mentioned on many threads in this forum before. He has given me a couple of weeks to agree settlement terms otherwise court action will follow.

They are offering a settlement figure that is about 80% of my outstanding balance and are even prepared to accept payments over 6 months.

Once again they make no reference to my letters and so I suspect that this is yet another standard letter with my details and value suitable merged. I further suspect that it will not matter one jot what I reply unless I enclose a payment or some offer to pay. I would never phone these people and will not engage in discussions when they call me although I have been known to wind them up from time to time.

The facts are that I sent a CCA request last March and this was finally responded to by CapQuest this January. As stated at the beginning of this thread although the agreement is not what I thought I had taken it does bear my signature and appears to be compliant. I am not in a position to pay anything towards this debt at present. There remains a question as to whether Abbey can sell a debt without first serving a default notice. At no time have they issued me any default although their agents Wescot did issue defaults for payment arrears only. The sum currently sought does not tie up with any of those past notices nor did the sum that was transferred to CapQuest.

I’d appreciate some advice regarding my best response to this most recent letter and look forward to your comments.

[MIKE770]

Originally Posted by Coactum

I am now in receipt of a threat of litigation letter from cap Quest written by none other than Marcus Butterworth who has been mentioned on many threads in this forum before. He has given me a couple of weeks to agree settlement terms otherwise court action will follow.

They are offering a settlement figure that is about 80% of my outstanding balance and are even prepared to accept payments over 6 months.

Once again they make no reference to my letters and so I suspect that this is yet another standard letter with my details and value suitable merged. I further suspect that it will not matter one jot what I reply unless I enclose a payment or some offer to pay. I would never phone these people and will not engage in discussions when they call me although I have been known to wind them up from time to time.

The facts are that I sent a CCA request last March and this was finally responded to by CapQuest this January. As stated at the beginning of this thread although the agreement is not what I thought I had taken it does bear my signature and appears to be compliant. I am not in a position to pay anything towards this debt at present. There remains a question as to whether Abbey can sell a debt without first serving a default notice. At no time have they issued me any default although their agents Wescot did issue defaults for payment arrears only. The sum currently sought does not tie up with any of those past notices nor did the sum that was transferred to CapQuest.

I’d appreciate some advice regarding my best response to this most recent letter and look forward to your comments.

Can you upload CCA for scrutiny on here, omitting personal details??

[Coactum]

I'm having a problem with my scanner mike770 so will need to find a way of uploading this later. That said I'm sure the document is correct. It states:
At the Top
Credit agreement regulated by Consumer Credit Act 1974
Abbeyloan agreement is made between Abbey National plc etc etc
On the Left
The agreement No.:
Application No.:
My Surname:
My Other Names:
My Address:
Time at address:
Date of Birth:
Telephone:
Purpose of Loan: Purchase Car
Time with Employer:
On the right is a declaration
a lot of small print that is not very legible
at the foot
Particulars of Loan
Amount:
interest:
Total repayable:
APR:
Payable by xx monthly instalments of £xxx commencing one month after the date of agreement
Signed by me and signed by them

[Coactum]

Got it working. Here is the document.

[Coactum]

I relly want to get a reply out to CapQuest, so any comments?

[Coactum]

Perhaps I'm being paranoid but is it not strange what within half an hour of adding the above thread I had a "guest" viewing the thread. Then the phone wrung. Guess who it was? You got it CapQuest! Are they so lame as to spend time looking at these threads to see what we are all saying about them?

[Coactum]

These folks must really love to spend money. When they called yesterday I told them in no uncertain terms that I'd never divulge any details of a security nature to someone calling me and that if they had anything to ask they should write and if I thought their letter merited a reply they would get one. You would think that it would be logical for the caller to record such outcome onto their system and desist further calls, but oh no, that would be just way too complicated for these people. Let’s start calling them but not talking seems to be their latest strategy. The phone rings. I answer, no one there, they hang up, I dial 1471 and find 02084958722 called me. I believe this number belongs to CapQuest.

[Gazza112]

Hi Coactum

Wright first thing don't panic, you have control in this matter not the DCA's. First thing you need to do is get a letter of to Capquest, asking as they have purchased the alledged account. Please could they send me a copy of the agreement, a default Notice, notice of asignment, deeds of asignment, and a full list of statements from when the account started.

Gaz

[Coactum]

Thanks Gazza112, I've had most of that already. The agreement shown earlier in this thread was in response to such a request. I have letters from both CapQuest and Abbey stating the conditions of transfer albeit both came from CapQuest.

I never had a default Notice. I don't know about the notice of asignment or deeds of asignment and perhaps you can clarify. I have not had a full statement despite an earlier request.

[Gazza112]

Coactum Notice of asignment is when an account has been terminated and sold to another company. In your case Capquest took the account over so they say. So they need to show you a notice of asignment, before they can ask for money.
I'll go through my files later, and sort you out a template letter you can send off to them.

Gaz

[Gazza112]

Here you go Coactum, this is a letter i used against Wescot your need to amend your letter to suit your situation.


XXXXXXXXX 2010

Wescot Credit Services Ltd
C/O Senior Manager
Dunedin House
45 Percy Street
PO Box 137
Hull
HU12 8HF


Dear Sir/Madam

Your Clients Reference Number: XXXXXXXXXXXXX


YOUR REF: XXXXXXXXX

I DO NOT ACKNOWLEDGE ANY DEBT TO YOUR COMPANY



Your formal demand, dated XXXXXX 2010, sent 2nd Class, reached me on the XXXXXXXXX 2010. Quite apart from the fact that I have not had any form of a Notice of Assignment (or similar) to inform me of your involvement, I was rather surprised to have received this from you, having received one just like it from XXXXXXXX Dept Recovery on the XXXXXXX 2009 stating the same. Perhaps HBOS neglected to mention that to date HBOS have been in default of my section 78 request under the Consumer Credit Act 1974 since October 2008, and that the account has been in dispute ever since.

With reference to the above account, I requested on the 8th October 2009 that Robinson Way send me a true copy of this credit agreement before I would correspond further on this matter.

My request still remains outstanding, until your company supply the documents that I have asked for and that your company can show me that you have full rights of this alleged dept.
I will not correspond with you any further. This is my right under the legislation contained within section 77 (1) and section 78 (1) of the Consumer Credit Act 1974, and I am entitled to receive a copy of my credit agreement on request. I understand that under the Consumer Credit Act, creditors are unable to enforce an agreement if they fail to comply with a request for a copy of the agreement under these sections of the Act.

Also, since you are a Debt Collection Agency, I would also ask that you supply a signed true copy of the executed deed of assignment for the above referenced agreement. This is an obligation, whether you are the original creditor or not, under section 189 of the Consumer Credit Act 1974.

For the sake of clarity, may I also draw your attention to the following: Consumer Credit Act 1974 s.175 Where under this Act a person is deemed to receive a notice or payment as agent of the creditor or owner under the regulated agreement, he shall be deemed to be under a contractual duty to the creditor or owner to transmit the notice, or remit the payment, to him forthwith. Non-compliance with my request is a criminal offence under the above Act and will result in a report being submitted to the relevant statutory authorities.

In summary,

I DO NOT ACKNOWLEDGE THIS DEBT AND THEREFORE REQUIRE YOU TO SUBSTANTIATE THIS BY PROVIDING THE FOLLOWING DOCUMENTATION BEFORE I CORRESPOND FURTHER :

1. True copy of original signed executed credit agreement

2. FULL Statement of accounts

3. Copy of the executed deed of assignment from (original creditor) and (DCA)

4 copy of the Notice of Assignment

5. A fair processing notice.

6. A copy of your Consumer Credit Licence

As you are aware, a credit agreement that is not properly documented and signed by the customer is totally unenforceable under the CCA and therefore is a complete defence to any court claim that is issued.

Take note at this stage, that any legal action you may contemplate will be both vigorously defended and contested.
Further to the above, please ensure that any contact by yourselves is made in writing only to the above address. telephone calls and personal visits will not be accepted and viewed as harassment. I look forward to hearing from you within the statutory time limit.
I would appreciate your due diligence in this matter.

I look forward to hearing from you in writing.

Yours faithfully




Gaz

[Coactum]

Many thanks Gazza112. good letter, I'll adapt that to suit my needs.

[Coactum]

I sent a letter to them yesterday. Not the one suggested by Gazza112 because when I looked at my past correspondence I realised that I'd already covered much of that in the past. So, I focused on the new areas that gazza had brought to my attention and continued to repudiate the debt. I’m guessing they have not had the letter yet or are simply being obstinate as they tried calling me again today.