Capital One - Lowells

[marypoppins]

I'm starting this new thread with a very brief history and will add to it after I have spent the next few days going through it.

CCA request sent in April 09, received just a generic paper of current T & C's

Account put into dispute and payments stopped in June 09.

The only agents I can see that got involved were Debitas, Power2contact and Fredricksons.

I put a claim in for ppi and refund of default charges (I'm guessing this will have extended the statute barred period?) I didn't accept their offer, which was below the amount I had claimed.

The last correspondence I had from Cap1 was in June 2010.

I have received a letter from Lowell Portfolio today advising that they have purchased the debt from Cap1 and as they are now owners, they are entitled to receive payment of the outstanding balance.

I would in normal circumstances ignore their letter however from previous experience I know that they like to issue statutory demands so it may be a good idea to send a reply so I need a suitable letter from the library.

Any advice appreciated.

[Deepie]

Re: Capital One - Lowells

---------> THE TECH CLERKS - CAPITAL ONE = LOWELLS NOW



Lowell must have bought a batch of theses Capital One accounts .............I received one yesterday as well..

[marypoppins]

Re: Capital One - Lowells

Cheers Deepie,

Like you and TC, I will await their next move.

[PlanB]

Re: Capital One - Lowells

Ooh er, maybe I'll be next on Lowells' hit list

I haven't heard a word from Capital1 since October 2011. It's the only one of my 23 debts which never got sold on.

[The Tech Clerk]

Re: Capital One - Lowells

I'm starting this new thread with a very brief history and will add to it after I have spent the next few days going through it.

CCA request sent in April 09, received just a generic paper of current T & C's

Account put into dispute and payments stopped in June 09.

The only agents I can see that got involved were Debitas, Power2contact and Fredricksons.

I put a claim in for ppi and refund of default charges (I'm guessing this will have extended the statute barred period?) I didn't accept their offer, which was below the amount I had claimed.

The last correspondence I had from Cap1 was in June 2010.

I have received a letter from Lowell Portfolio today advising that they have purchased the debt from Cap1 and as they are now owners, they are entitled to receive payment of the outstanding balance.

I would in normal circumstances ignore their letter however from previous experience I know that they like to issue statutory demands so it may be a good idea to send a reply so I need a suitable letter from the library.

Any advice appreciated.

Same route as mine except FOS involved at one stage = useless

[PlanB]

Re: Capital One - Lowells

CCA request sent in April 09, received just a generic paper of current T & C's

. . . . I put a claim in for ppi . . . I didn't accept their offer, which was below the amount I had claimed.

Goody, Capital1 have acknowledged that you had PPI on this account. So that means unless they can produce a copy of your CCA including the PPI Ts & Cs they'll come unstuck under section 18 CCA (as well as s.78)

I'm sorry they didn't pay out what you claimed, but they may have also shot themselves in the foot at the same time by admitting that PPI existed on this account. Every cloud has a silver lining.

multiple agreements

If an agreement has more than one part and those parts are for different categories of credit, then s18 (CCA1974) states that the different parts must be treated as separate agreements - in particular, this means that the prescribed terms for the different parts of the loan must be listed separately;

s.18 Consumer Credit Act 1974

(1) This section applies to an agreement (a “multiple agreement”) if its terms are such as

(a) to place a part of it within one category of agreement mentioned in this Act, and another part of it within a different category of agreement so mentioned, or within a category of agreement not so mentioned, or

(b) to place it, or a part of it, within two or more categories of agreement so mentioned.

(2) Where a part of an agreement falls within subsection (1), that part shall be treated for the purposes of this Act as a separate agreement.

(3) Where an agreement falls within subsection (1)(b), it shall be treated as an agreement in each of the categories in question, and this Act shall apply to it accordingly.

* The different categories of credit are defined in sections 8-15 of the CCA(1974):

1. 'Personal credit agreement' or 'Consumer credit agreement' (Section 8)
2. 'Regulated agreement' or 'Exempt agreement' (Section 8)
3. 'Hire purchase agreement' (Section 9)
4. 'Running account credit' (eg credit card, overdraft) or 'Fixed sum credit' (eg bank loan) (Section 10)
5. 'Restricted use agreement' (eg PPI, car purchase) or 'Unrestricted use agreement' (eg cash loan) (Section 11)
6. 'Debtor-creditor-supplier agreement' (eg PPI) (Section 12) or 'Debtor-creditor agreement' (eg cash loan) (Section 13)
7. 'Credit token agreement' (eg credit card) (Section 14)
8. 'Consumer hire agreement' (Section 15)

So, a regulated, consumer credit agreement for fixed sum credit falls into three categories and the terms relating to all three must be in the agreement. For our example though, where s.18 may render an agreement invalid is where the loan itself has two 'parts' which fall into different categories; for instance (probably the most common example), a cash loan with PPI fall into different categories of credit:

Cash loan: --- 'unrestricted use credit' and 'debtor-creditor credit'
PPI: --------- 'restricted use credit' and 'debtor-creditor-supplier credit'

Both fall into the categories 'regulated agreement' and 'consumer credit agreement' and therefore, such an agreement would fall under the scope of s.18 and require that the two parts of the loan be regarded as separate loans. This in turn requires that the prescribed terms for each part must both be listed on the agreement: Loan amount, regular repayments and APR for both separately.

Therefore, if, as is quite common, the monthly repayment is lumped together without the repayment amount for the loan and PPI listed separately, the agreement would not be properly executed nor would it be enforceable under s.65 as it wouldn't have the signature and all the prescribed terms on one document.

[The Tech Clerk]

Re: Capital One - Lowells

Ooh er, maybe I'll be next on Lowells' hit list

I haven't heard a word from Capital1 since October 2011. It's the only one of my 23 debts which never got sold on.

Catch up next year no doubt

[oldyboy]

Re: Capital One - Lowells

I moved house nearly 3 years ago and, as redirection was working until recently, didn't tell Cap one. Haven't heard a thing from them for 2 years when thy told me my account was being moved. I decided to let sleeping dogs lie.

Bearing in mind Lowlife's reputation as Mary Poppins has said, would a change of address letter to Cap one be prudent?

[marypoppins]

Re: Capital One - Lowells

I moved house nearly 3 years ago and, as redirection was working until recently, didn't tell Cap one. Haven't heard a thing from them for 2 years when thy told me my account was being moved. I decided to let sleeping dogs lie.

Bearing in mind Lowlife's reputation as Mary Poppins has said, would a change of address letter to Cap one be prudent?

Can you extend the re-direction? I think that's what I would do, rather than give them my address and then at least you will be aware of any threats.

[oldyboy]

Re: Capital One - Lowells

Unfortunately no. I wrote to the new people a while ago saying redirection had stopped and asked for any post to be kept for me to collect. When I went there a few weeks ago I was told there hadn't been any.


I'd used up the two years allowed for redirection and was hoping to set it up again after 3 months with some 'proof' of the old address.


I understand what you're saying though.

[PlanB]

Re: Capital One - Lowells

I'd used up the two years allowed for redirection and was hoping to set it up again after 3 months with some 'proof' of the old address. .

I've set mine up again after 90 days had elapsed from the end of the previous one. Better to give it a bit longer if you can to be certain it's fallen off the Royal Mail database.

All you need to start a new one is a bank or credit card statement showing the old address and pay by debit card over the counter at the Post Office. They don't check the electoral roll or require a utility/council tax bill if you pay by debit card. Don't do it online.

I've got one re-direction which has been running for six years.

[marypoppins]

Re: Capital One - Lowells

I've just checked my Noddle report and Cap 1 has disappeared, similar to The Tech Clerks.

I've also had a couple of very muffled automated messages left on my landline.

[The Tech Clerk]

Re: Capital One - Lowells

I've just checked my Noddle report and Cap 1 has disappeared, similar to The Tech Clerks.

I've also had a couple of very muffled automated messages left on my landline.

That is Lowells = trying to be clever stating No=oals no doubt.

[marypoppins]

Re: Capital One - Lowells

Yes, I've just checked their letter and it states that they will start reporting on the credit file within 30 days

[oldyboy]

Re: Capital One - Lowells

I've set mine up again after 90 days had elapsed from the end of the previous one. Better to give it a bit longer if you can to be certain it's fallen off the Royal Mail database.

All you need to start a new one is a bank or credit card statement showing the old address and pay by debit card over the counter at the Post Office. They don't check the electoral roll or require a utility/council tax bill if you pay by debit card. Don't do it online.

I've got one re-direction which has been running for six years.

Thanks PB I think I may be hijacking MP's thread so I'll start this again in my UE diary.