Capquest collects debts for organisations such as high street banks, mortgage and loan companies, credit card providers, utility and mobile phone companies. The Financial Conduct Authority has authorised and regulated Capquest as a debt recovery agency. They are also a member of the Credit Services Association.
Who are Capquest Debt Collectors?
Whenever you borrow money or buy something that you pay for in instalments, you are in debt to your creditor. If you do not keep up with repayments, they are entitled to contact you within reason until it is paid. Often this debt is passed or sold onto a debt collection agency such as Capquest Debt Recovery Collectors.
Are Capquest Debt Collectors sending you letters?
To recover the debt, Capquest will begin by sending an initial letter; these are typically system-driven and standard. They will follow this up with a telephone call. If they have your details, they may also attempt to contact you by text. They will insist you contact them by phone to arrange payment and if they don’t receive payment at this point, they will threaten to come to your home. They may then send further letters offering an out-of-court settlement, or threats to take you to court to obtain a county court judgment or make you bankrupt.
Before making payment, it is important to confirm that the debt is yours. Credit agency sites such as Experian will help you confirm your unpaid debts, should you be unsure.
Why has Capquest contacted me?
Capquest will contact you to chase an overdue balance on a debt they have been passed to manage or one that they have bought.
Are Capquest Debt Collectors legitimate?
Yes, the Financial Conduct Authority has authorised and regulated Capquest as a debt recovery agency. They are also a member of the Credit Services Association.
Can I just ignore Capquest’s communications?
Ignoring Capquest’s communications will not make them or the debt go away. If Capquest has contacted you, it is advisable to respond. Not responding can lead to Capquest taking further action and potentially damaging your credit rating. Further costs could be added to the existing debt. You are entitled to take professional debt advice and you are permitted time to consider your options.
How can I stop Capquest from contacting me?
Being contacted about your debt unexpectedly can feel unsettling. An initial letter is a typical first step of the process followed by calls, emails or texts. Capquest may be legally required to contact you and are permitted to do so, however you can take some control over how you communicate with them.
You can tell them how you would prefer to be contacted, such as only in writing or via email, rather than by telephone. They should respect your preference.
I can’t afford to repay my debt to Capquest; what now?
If you cannot make payments to Capquest, there are some possible ways forward:
You can agree on a manageable payment plan with Capquest. The instalments should be realistic and affordable, without excessive charges, interest or penalties.
You may be able to write off Capquest’s debts. In England, this involves an Individual Voluntary Arrangement which consolidates all your unsecured debt into one affordable monthly payment over a determined term. After that time period, the debt is written off. In Scotland, a similar scheme is a Protected Trust Deed.
Other routes might include a Debt Management Plan, Debt Consolidation Loan, Minimal Asset Process, Debt Arrangement Scheme or Bankruptcy.
It is always advisable to seek professional debt advice to discuss your options further.
How do I make a complaint about Capquest?
If the actions of a debt collection agency are causing you concern, you can complain to the Financial Ombudsman and the Credit Services Association.
Who does Capquest collect for?
Capquest collects debts for organisations such as high street banks, mortgage and loan companies, credit card providers, utility and mobile phone companies.
Can Capquest send bailiffs?
Capquest can send debt collectors to your home with prior notice if you default on payments. They cannot enter your home; they are not bailiffs and cannot claim to be bailiffs. In order to send bailiffs, Capquest must first take you to court.
Can Capquest take you to court?
Capquest can take you to court to obtain a County Court Judgement or charging order. However, there is a list of things they cannot do:
• Harass you
• Call at times which are unreasonable or at your place of work if youhave asked them not to
• Discuss your debt with family members or employer
• Take unauthorised payments
• Refuse you the time to consider debt management options
• Ask you to borrow more money to pay off this debt
• Use jargon or confusing language
• Demand payment once a debt is ‘statute barred’
• Threaten legal action they know to be unlikely to happen
• Send letters that look like court documents or falsely claim to have legal powers they don’t have
Debtbuffer has a wealth of useful information such as a letter-writing service which helps buy time from creditors. Or use our AI Chatbot to find a possible debt management solution. At Debtbuffer we want to help you take back control of your life and money.