Today I received some more fan mail. At first I thought it would be a review of one of my debt payments.
Instead when I opened the letter, it was a notice of assignment from CapQuest regarding my Capital One Debt.
I am not sure if I feel disappointed, maybe but there is always tomorrows post to look forward to.
Nothing to See Here
I expected that one day my Capital One debt would be assigned to someone looking to pick the remains of my financial standing.
I suspect Capital One most likely wanted to get it off their balance sheet. I have owed the money for a couple of years now and I guess they got bored of waiting for me to pay them back. I can’t blame them, I would be the same.
In essence CapQuest Investments Limited have purchased the debt from Capital One, probably for a fraction of what I owe.
I was half expecting someone like Lowell Portfolio to buy this debt, as they already own several of my other debts. However I guess that wasn’t meant to be!
What did CapQuest say in the letter?
Nothing exciting really. Business as usual so far as I can see, apart from the fact I need to change the standing order details I currently have set up.
The letter also points out that Capquest will become the data controller for the account. This means I better check my credit report soon to make sure that the information they record is correct.
I have experienced instances in the past where information has been recorded incorrectly when a debt has been assigned. I hope this time things go smoothly and I don’t have to start messing about getting things put right.
How much do I owe to Capital One?
At the time of writing this, my outstanding balance is currently £319.29. This is actually only a small debt, and it is one of the debts I aim to settle this year. In fact I am going to try to pay five of them off because I a being good.
I think this could well be the first debt I terminate in 2013 so to speak. Heck I might even offer them a settlement if I am feeling up to it. Speaking of which I still haven’t queried the charges on the account so I might as well make a start on that as well.
Is the letter anything to worry about?
No. It is a standard issue letter or notice of assignment. It basically means nothing really other than a few details changing, including ownership of the debt and who is responsible for updating the data on my credit report.
Apart from the letter today, things have been quiet in the new year but I expect that will be changing soon. I will keep you all updated if anything changes.