Another Egg Capquest

[sjd3467]

This is my first post on here so hope I am doing things right. I have a number of debts mainly with DCAs who have mostly been OK. I am off work long term sick with depression and anxiety, some of which is related to my financial situation. I have ha a debt passed to Capquest who have don all their usual phoning despite being told not to and sending the usual standard letters. I sent a long complaint to them which they did not acknowledge other than to ask for a coy of a letter from my Doctor confirming my illness which I duly sent them. I have sent the a financial statement showing that our outgoings far exceed our income, which other lenders have accepted. Capquest then offered a full and final settlement of the debt of 80% of the amount outstanding. I have explained to them I am not working, we live in rented accommodation ad have no assets yet they won't give up. I have even started looking into making myself bankrupt but can't afford to. I sent them a CCA and have attached the letter they sent and my agreement they sent, is it right that Egg signed it 2 days before me, apart from the 200 pages of card statements. I am at a loss to know what to do now and could really do with some help as this is making my illness even worse. Can someone please advise how I should respond, I have looked at all the other postings but am confused about which letters to send and what to say. Are they within the law in not sending me the original T and Cs?

http://i606.photobucket.com/albums/t...7/capquest.jpg

http://i606.photobucket.com/albums/t...67/1stpage.jpg

http://i606.photobucket.com/albums/t...3467/page2.jpg

[steven4064]

UNenforceable CC agreement - doesn't have prescribed term for credit limit ('approved limit' won't do)

[toymaker1]

Originally Posted by sjd3467

This is my first post on here so hope I am doing things right. I have a number of debts mainly with DCAs who have mostly been OK. I am off work long term sick with depression and anxiety, some of which is related to my financial situation. I have ha a debt passed to Capquest who have don all their usual phoning despite being told not to and sending the usual standard letters. I sent a long complaint to them which they did not acknowledge other than to ask for a coy of a letter from my Doctor confirming my illness which I duly sent them. I have sent the a financial statement showing that our outgoings far exceed our income, which other lenders have accepted. Capquest then offered a full and final settlement of the debt of 80% of the amount outstanding. I have explained to them I am not working, we live in rented accommodation ad have no assets yet they won't give up. I have even started looking into making myself bankrupt but can't afford to. I sent them a CCA and have attached the letter they sent and my agreement they sent, is it right that Egg signed it 2 days before me, apart from the 200 pages of card statements. I am at a loss to know what to do now and could really do with some help as this is making my illness even worse. Can someone please advise how I should respond, I have looked at all the other postings but am confused about which letters to send and what to say. Are they within the law in not sending me the original T and Cs?

http://i606.photobucket.com/albums/t...7/capquest.jpg

http://i606.photobucket.com/albums/t...67/1stpage.jpg

http://i606.photobucket.com/albums/t...3467/page2.jpg

Hi,
It might be helpful if you could provide a bit more detail about your debt with Egg. For example, Did Egg terminate your account?

[sjd3467]

I stopped paying them due to my illness, then was paying them a token payment, which eventually I had to stop paying as I couldn't even afford that, thy eventually passed me over to Capquest

[blueboy987]

I'm signed off from work with anxiety, depression and stress so I know what its like - I'm a lot better now and should be returning to work soon (well as soon as I can find a job). In case you haven't realised it yet, there is very little they can do to you despite all of their threats so don't let them get to you.

I think you've got three options;
- continue negotiating with them to make payments you can afford
- stop making payments and break off contact with them, then ignore them
- challenge the legality of the debt through the courts

Chances are that they will begin court proceedings at some point, either due to not being happy with your repayments or if you break off contact. This isn't as bad as it sounds, there is a strong chance they will screw up the court claim and you'll be able to defend it (plenty of people here can help with it). Even if they win it sounds like you haven't got anything to lose.

If you try to challenge the legality it will mean a lot of work, effort and stress which maybe isn't the best thing for you to be taking on at the moment. But again, if you do go down this route you will get plenty of help and support with it.

Egg sold my debt on to CL Finance who promptly took me to court. I put in my defence then allocation questionnaire at which point they dropped it and the case was struck out - something which is very common with Egg debts.

[toymaker1]

Originally Posted by sjd3467

I stopped paying them due to my illness, then was paying them a token payment, which eventually I had to stop paying as I couldn't even afford that, thy eventually passed me over to Capquest

Hi

Here is a letter you could send to Egg.
They will almost certainly not agree to it, but take things one step at a time. I suggest you send them this letter or something similar, and post their reply on this site.
Best of luck.


Capquest address
Our Ref:
Your Ref:
Date




Dear Sir or Madam


Re: Over-indebtedness on Egg Account No. xxxx xxxx xxxx xxxx


Thank you for your letter dated xxxxxxx

As you are aware, I have become seriously over-indebted to Egg to the extent that the money I have borrowed from Egg is not likely to be repayable out of my income by means of a normal monthly repayment agreement, therefore a repayment agreement is required which is affordable out of my income and does not increase the over-indebtedness on my Egg credit card account.

I consider that the over-indebtedness on my Egg credit card account can be resolved by means of the following proposal, which is likely to be affordable out of my income and will not increase the over-indebtedness on my Egg credit card account.

If Egg will suspend interest on the debt as it stands on my most recent statement of (date of most recent statement), I will pay a minimum of £10 per month (or whatever amount you believe you can afford) until the total debt of £xxxxxxx is cleared.

I will commence payments as outlined above immediately upon receipt of your agreement. I hope that Egg will consider this to be an appropriate method of resolving the over-indebtedness which has arisen on my Egg credit card account.


I would be grateful if Egg would act with urgency in this matter in order that I can commence repayments to Egg without unneccessary delay.
For your information I enclose a summary of my domestic monthly income and expenses.

I realise that Egg is not obliged to help me, but if Egg is not prepared to consider my repayment proposal and this matter is put before a court for adjudication, I will point out to the court that I have made a repayment proposal to Egg which is affordable out of my income and which will not increase my over-indebtedness to Egg, and that Egg refused to consider my proposal as outlined above. As you know, the court would normally suspend interest on the over-indebtedness.

I look forward to Egg's response to my repayment proposal.






Yours sincerely

[egg-sterminator]

Originally Posted by toymaker1

Hi,
It might be helpful if you could provide a bit more detail about your debt with Egg. For example, Did Egg terminate your account?

thanks for response . no account up to date , have only been on to the site for 2 days read tons of stuff from you guys and am open to the collective wisdom as to how to proceeed .