Capquest – What To Do If Capquest Are Chasing You For Payment Of Your Debts
Established in 1985, Capquest are a credit solutions provider owned by Arrow Global Group plc. Capquest’s clients include high street banks, mortgage and loan firms, credit card providers, utility companies and mobile phone networks.
Capquest is authorised and regulated by the Financial Conduct Authority (FCA). Capquest is also a member of the Credit Services Association and registered with the Information Commissioner’s Office (ICO).
Why Have Capquest Contacted Me?
Capquest will get in touch with you if they have purchased, or been asked to manage, your account on which there is an overdue balance. They will attempt to recover the money you owe.
Contact from Capquest is usually an initial letter, which is followed up several days later by a call, if no response has been received. Capquest may also contact you by text or email if your details have been supplied by your creditor or a Credit Reference Agency.
Is My Debt Too Old To Be Collected?
One of the first things to do if you’ve been contacted by Capquest, is establish what debt the contact is in relation to, and whether you actually owe it. If your debt is over six years old it might be ‘statute barred’.
The Limitation Act 1980 means there are time limits which apply to some types of debt, meaning creditors must take action within that timeframe or you may not have to pay.
For unsecured credit debts, this limitation period is six years. Unsecured credit debts include things like credit cards, store cards, personal loans and shopping catalogues – they are sometimes referred to as ‘simple contract debts’.
If you’ve been contacted by Capquest in regards to an old debt, you should seek advice from Scottishtrustdeed.co.uk.
Can I Just Ignore Capquest’s Communications?
Burying your head in the sand will not make your problems… or Capquest… go away. If Capquest are getting in touch, you should respond to them. By ignoring them, you are giving Capquest reason to take further action against you, which could cause damage to your credit rating as well as mounting costs, on top of your existing debt.
How Can I Stop Capquest From Contacting Me?
Receiving communications about your debt can be daunting, particularly if they arrive out of the blue. Initial letters are a normal part of the debt recovery process – don’t panic.
The earlier you begin to address the problem, the better. If you ignore letters, you might start to receive other forms of communication like telephone calls, emails and even text messages. Here are a few steps you can take to regain control:
Request that you are contacted by post only – this should stop other unwanted forms of contact. You probably don’t want to receive a text or call about your debt when you’re out and about, or with company.
Asking for contact by post gives you time to process the information you are being given, and takes the pressure off you for an immediate response. Capquest should comply with any reasonable requests regarding your preferred contact methods.
Ask for breathing space. Most creditors will give you 30 days ‘breathing space’ if you tell them you are seeking advice about your debt. This should temporarily put a stop to most contact, though you may still receive some letters if Capquest is legally obliged to send them.
Seek advice – Scottishtrustdeed.co.uk are professional debt specialists with the knowledge and experience to advise you on your debt.
If you can afford to, pay. The quickest way to prevent further contact from Capquest is to clear your debt. Obviously, this is not always a possibility.
I Can’t Afford To Repay My Debt To Capquest
If you are experiencing financial difficulties, tell Capquest – you may be able to make a manageable payment arrangement.
Payment plans allow you to repay your debt in smaller instalments, rather than in one lump sum. You can set up a payment plan over the phone or online using Capquest’s customer portal.
One of the key things to bear in mind when you set up a plan, is it must be realistically affordable for you. People often feel pressured into bigger payments than they can manage to try to clear the debt as quickly as possible. Work out a budget, before you come to a payment arrangement.
Budgeting is an important step when it comes to getting your financial health back on track. It’s simple – a budget just compares what money you have coming in to what you’re spending. Any money left over is your ‘disposable income’ and it’s this figure you need to pay attention to when determining what you can afford.
Capquest have recognised that customers often find it difficult or embarrassing to discuss their debt problems and financial circumstances. This is why they have the Customer Portal – an online portal for managing your account. You can use the portal to:
- View your account details
- Use Capquest’s budgeting tool
- Make payments
- Set up or change a payment plan
- Set up a direct debit
- Amend your contact details
What Will Happen If I Don’t Pay?
Debt collection agencies like Capquest must adhere to strict guidelines set by the Financial Conduct Authority and Credit Services Association. Capquest has no additional legal powers to the original creditor the debt was with. Debt collection agencies are different to bailiffs (enforcement agents) and there are a number of things Capquest can’t do:
- can’t harass you – for example with excessive calls or texts
- can’t mislead you or lie to you about their legal powers
- can’t remove your possessions from your house
- can’t discuss your debt with anyone else without your permission
- can’t claim excessive or unfair collection charges
- chase you for payment
- send doorstep collectors called field agents
- add reasonable interest and charges
- issue default notices
- apply for a County Court Judgement (CCJ)
If you don’t take steps to repay your debt, Capquest might seek to take legal action against you.
How Can Scottishtrustdeed.co.uk Help Me?
Scottishtrustdeed.co.uk are experienced debt specialists with extensive knowledge of the range of debt management options available to you. If you need help or advice with your debt, get in touch with us.
How Do I Make A Complaint About Capquest?
You can make a complaint about Capquest by phone, email or letter. Make sure you include your reference number.
0333 999 7217
60 York Street
If you have made a complaint to Capquest, but are not satisfied with their final response or handling of your complaint, you can refer it to the Credit Services Association or Financial Ombudsman Service for review.
Credit Services Association (CSA), 2 Esh Plaza, Sir Bobby Robson Way, Great Park, Newcastle Upon Tyne, NE13 9BA
0191 217 0775
The Financial Ombudsman Service (FOS), Exchange Tower, London, E14 9SR
0300 123 9123
Without a court order, absolutely not. Neither Capquest or any other debt collection agency nor a debt collector is considered a court-appointed bailiff. Capquest may visit the address of a debtor but cannot enter the dwelling without the consent of the resident.
Write to Capquest to Request them to Stop Contacting You (If That’s What You Want) Under the FCA guidelines, if you request that a debt collector stop contacting you completely, it must do so (with a few exceptions). Your request must be in writing. You can use the ‘prove the debt letter’ to do this.
If you owe money to Capquest and you don’t pay, you can be sued. If Moorcroft sues you and wins, the court will enter a judgment (also called an order) against you that says you must pay back the debt. But if all your money and property are protected, then creditors cannot take them from you.
If you receive contact for someone who no longer lives at the address, or you think they’ve got the wrong person, speak to Capquest ASAP to rectify the issue.
Non-payment of your debt will have a negative impact on your credit score, making it more difficult for you to get credit in the future. If you fail to make the payments on your account as required, a default may be registered on your credit file.
Yes, your credit file will be updated each time you make payments to reduce the balance shown.