Capquest

capquest

This page was last updated on 1 September 2021

Capquest In 2021

Capquest Debt Recovery Limited is a debt collection agency, headquartered in Glasgow, Scotland.

This article will tell you all you need to know about Capquest and why you may be hearing from them. It will also give you information on personal debt, as well as tips for dealing with money problems. 

Who are Capquest Debt Recovery Limited?

Capquest Debt Recovery are debt collectors, though you may see them referred to as a ‘credit solutions provider’. 

They buy ‘bad’ debts (i.e. ones that are difficult to retrieve) from banks and businesses. They purchase them at a discount from these lenders, and then chase those who owe money. 

Capquest Debt Recovery are part of a larger Capquest group, which incorporates firms in other areas of the financial sector such as Capquest Investments Limited. 

The Capquest group is ultimately part of the Arrow Global Group plc. 

Topics that you will find covered on this page

You can listen to an audio recording of this page below.

Who are Arrow Global Group plc?

As mentioned Capquest is part of the Arrow Global Group, a multinational finance company. 

Its subsidiary, Arrow Global Limited (AGL), operates in the UK. One branch of it is Capquest Investments Limited (CIL AGL), and the other is Capquest Debt Recovery Ltd – the branch that deals with retrieving unpaid debt. 

The Arrow Global Group address is Belvedere, 12 Booth Street, Manchester, M2 4AW.

What is a debt collection company?

Put simply, debt collection companies reclaim debts that have not been paid. 

Some work for lenders, receiving a fee when they retrieve a debt. Capquest however buys old debts directly off companies – usually at a discount – and makes a profit from successfully retrieving the debt. 

If you have an unpaid debt, your credit report will be negatively affected.

Are they legitimate?

Yes. Capquest Debt Recovery are registered in England and Wales, and their number on Companies House is 03772278. They’ve operated since 1999 and have an annual turnover of approximately £18 million.

The company is a member of the Credit Services Association and is registered on the Financial Services Register under registration no. 721513. This means that they are authorised and regulated by the Financial Conduct Authority for certain credit related, regulated activities.

Who do they buy debts from? 

Capquest Debt Recovery buys debts from a variety of different companies, for example:

  • Credit card companies (from whom they are said to buy significant amounts)
  • High street lenders
  • Banks
  • Utility companies
  • Major mobile phone operators

They do not work with HM Revenue and Customs (HMRC) and so do not collect unpaid tax bills. 

Why are Capquest Debt Recovery contacting me?

Letters addressed to you from ‘Arrow Global Group’, ‘Capquest Debt Recovery’, or ‘Capquest’ mean that Capquest believe you owe them money. 

They will be asking you to make a payment to repay this debt. 

Capquest debt recovery tactics

Capquest, like other debt collection companies, first send a letter outlining that they own your debt — and that they want you to make a payment. You may also receive phone calls.

In these initial communications, they will likely tell you:

  • The total amount that you owe them
  • The charges that you have become liable for as a result of non-payment
  • The deadline you have to repay by
  • The consequences of not paying them    

They may state that, if you ignore their communications, they will make court claims against you. However, this is usually a last resort because of the expense involved. If you are uncooperative, they will first intensify their efforts to get through to you by increasing the frequency of their phone calls and letters.   

Can Capquest visit my home?

Yes, Capquest Debt Recovery can send field agents to your home to talk about your alleged debt. 

Remember though: the difference between these debt collectors and bailiffs is that they cannot take any of your possessions – they only come to discuss your debt. If you ask them to leave, they are legally required to do so.  

What if I can’t pay?

1 – Talk to Capquest Debt Recovery Limited

Capquest are also known as a ‘credit solutions provider’ because they offer debtors the possibility of negotiating a debt solution. 

Talking to Capquest is a great first course of action if you can’t pay, because by explaining your personal circumstances you may be offered the best debt solution for you. It may also slow down the rate of their calls and letters because you have shown yourself willing to cooperate. 

"Debt collection companies reclaim debts that have not been paid. Some work for lenders, receiving a fee when they retrieve a debt. Capquest however buys old debts directly off companies - usually at a discount - and makes a profit from successfully retrieving the debt. "

2 – Obtain a Debt Management Plan (DMP)

A Debt Management Plan is an agreement that would be made between you and Capquest. You’d agree to pay your debt to a third-party finance company, who would talk with Capquest Debt Recovery on your behalf and oversee your payments. 

You can get a DMP for any amount of debt. You’re potentially eligible if: 

  •   You can afford to pay off your priority debt but are unable to keep on top of others such as credit cards or loans
  •   You can afford at least £5 a month 

3 – Get an Individual Voluntary Arrangement (IVA)

An IVA is another agreement that would have to be made between you and Capquest. You’d arrange to pay independent debt specialists called ‘insolvency practitioners’, who would then divide up the money you owe between your creditors. 

N.B. These different solutions will impact your life differently — some may damage your credit rating, making loans like mortgages more difficult to get, while others may restrict what type of jobs you can have in the future. Seek debt help before making any big decisions. 

What legal proceedings can Capquest Debt Recovery launch against me?

If you cannot pay and have not arranged any sort of repayment plan, Capquest may take you to court. 

Most often, they will apply for a County Court Judgement (CCJ). 

If this is granted, Capquest would be permitted to send bailiffs to your house to take your possessions in place of cash repayments. 

N.B. A ‘statute-barred’ debt cannot be brought to court by a creditor. Statute-barred status applies to any debt that is over 6 years old, because the Limitation Act of 1980 states that after 6 years creditors can no longer take legal action over an unpaid debt. However, if a County Court Judgement has been applied for within this timeframe, a debt collections agency can pursue it indefinitely. 

What can Bailiffs do?

Bailiffs are not Capquest employees – they work for the courts. They are known as ‘enforcement officers’ because they enforce the will of the courts. 

If a bailiff comes to your home, first ask to see their identification cards or badges. If they say they are debt collectors, you can ask them to leave.  

Bailiffs can only force entry into your home for non-payment of government debts, such as tax or court fines. If Capquest send bailiffs, they will be collecting non-governmental debt and so it is up to you whether you let them in. 

It is good practice to: refuse entry, tell them that you will arrange a repayment plan with Capquest Debt Recovery, and then organise this immediately before they are sent back to your home.

How should I respond if Capquest Debt Recovery get in contact with me?

1 – Ask Capquest to prove your debt 

You are not obliged to pay any debt unless you receive a letter explaining exactly why you owe it.

You should either send a letter or reply to their calls asking them for proof that you are liable to pay. 

2 – Arrange payment or arrange a repayment plan 

If you are financially able, you can write a cheque payable to Capquest Debt Recovery Limited. If you cannot pay the full amount upfront, ask for debt help from Capquest and you may be able to organise a helpful debt solution. 

They also have a handy online system whereby debtors can view their outstanding debt and any payment plans they have in place. 

What can’t Capquest Debt Recovery legally do?

Capquest, like all registered debt collection agencies, must operate within the regulations laid out by the Financial Conduct Authority. 

If they do not, you should inform the Financial Ombudsman Service.

If they can prove a debt collector has acted unlawfully, they will fine them and, in serious cases, revoke their licence to practice. 

By law, Capquest: 

  • Cannot harass you* 
  • Cannot speak to your family or friends about what you owe
  • Cannot threaten, intimidate or lie (including threatening legal measures if it is unlikely)
  • Cannot pretend to possess powers that they do not, for example likening their debt collectors to bailiffs 
  • Cannot contact you directly if you have appointed someone to act as an intermediary 

They must also:

  • Give you time to receive free debt advice
  • Provide space for you to consider different debt solutions
  • Offer you an affordable payment plan 

*N.B: whilst they may make as many calls to you as they desire, by law this has to be ‘reasonable’. Legally there is no set definition of what constitutes ‘reasonable’, but broadly speaking it means you should not feel bullied or overwhelmed by calls. 

What if I require some more time to think about my options?

Depending on your personal situation, there are potentially a variety of schemes that you might be able to take advantage of. 

1 – The Debt Respite Scheme (called ‘Breathing Space’). This is open to anyone with a debt problem, and it gives you 2 months in which no debt collection agency can:

  • Contact you, via letter or any other way
  • Take action to make you repay
  • Add fees or interest to your debt

 

2 – The ‘Mental Health Crisis Breathing Space’ is a sub-scheme of the above, and so offers the same benefits. It differs in that the exemptions stay in force for the entire time you’re receiving crisis treatment for an emergency mental health condition, plus 30 days after your treatment has finished.

3 – A ‘Debt Relief Order’ (DRO).

If you owe under £30,000 and can demonstrate you have minimal spare income each month, you can get respite from repaying certain qualifying debts for 12 months. You’re also often discharged of this debt when the 12 months is over.

Considerations and tips for dealing with debt

  • Assess your situation

Calculate your typical bills for essential utilities and credit card repayments, and work out how much you have left after paying them.

If you have too little left over to repay your debts, you should either decrease your expenditure or increase your income. For example, you could: 

  • Downsize your house
  • Get a second job
  • Try to spend less on leisure activities/items 

If you can manage your essential payments plus some debt, you should decide on the most effective way to repay your creditors. This entails deciding which debts are ‘priority debts’, and then dealing with those first.

The factors you should consider in this analysis are: 

  • The rate of the interest you have to pay
  • The due date 
  • The penalties for non-payment 

 

  • Be conscious of your spending 

This is crucial not only to getting out of debt, but avoiding it in the future as well. There are many small changes you can undertake to do this, for example: 

  • Having breakfast and coffee at home before work, rather than buying it out
  • Making lunch yourself each day 
  • Spending evenings indoors with friends rather than going out
  • Cutting back on subscription services, such as gym memberships or video streaming platforms
  • Watching out for mobile phone operators’ international calls charges  
  • Reducing your utility bills by using greener appliances and turning down the thermostat
  • Using only one credit card, as this will help you keep track of your spending

Top 10 tips for coping with debt  

1 – Find out how much you owe, and then create a list of ‘priority’ debts that you need to repay first

2 – Seek legal help from a financial advisor with expertise in debt in England and Wales

3 – Craft a plan and set repayment goals for yourself  

4 – Ask for help from Capquest, or pursue another path such as applying for an IVA or DMP

5- Limit your spending 

6 – Find a way to increase your income, such as beginning a side hustle or evening job

7 – Sell any of your stuff that you no longer want

8 – Cancel unnecessary subscriptions and memberships 

9 – If possible, create an emergency fund to ensure unexpected problems don’t ruin your plans 

10 – Apply to the Breathing Space scheme if you need more time to work things out 

If you are struggling with Debt, would you like to speak to a specialist to discuss what options you have?

We work with Money Advisor who is able to help you, if meet the following 2 criteria:

1 – Your level of debt is £2,000 or over

2 – You have at least two creditors (ie two or more companies you owe money to)

If you meet the criteria, and would like some help, you can contact us in one of 2 ways:

  • Option 1 – Call us directly on – 0333 567 1613
  • Option 2 – Leave us your contact details and we will get in touch with you

 

Option 1 – Call directly to book an appointment with a debt management specialist

Our lines are open Monday to Friday – 9:00 to 8:00pm

Option 3 – Leave us your details and we will get in touch

Leave your contact details below and one of the Money Advisor team will give you a call to discuss your needs.

Please note that all calls are undertaken by Money Advisor who help thousands of individuals find solutions to get out of debt and. They can help you understand all the possible options and guide you through the various processes.

Learn More About Debt Management In The UK

Debt Management plans

A debt management plan is a means of helping you solve your debts. It involves negotiating an agreement between you and some or all of your creditors in order to pay off your debts. 

mortgages if you are bankrupt

There is no hard and first rule when it comes to what lenders will accept your mortgage application if you want to get a mortgage after bankruptcy. Mortgage lenders who lend to discharged bankrupts generally consider each unique case individually. 

debt relief orders

Debt relief orders (often abbreviated to DRO) are a method of debt reduction if your debts are more than you can manage and you cannot afford to pay them.

What is an IVA?

An IVA is a kind of debt solution: more specifically, it is a legally binding agreement between you and your creditors to pay back your debts over a particular time period. This article explores the impact of having an IVA and what it could mean for your day to day life.

what is bankruptcy

Bankruptcy is a legal status which has a duration of one year in England and Wales. It can be an option for taking care of debts that you are incapable of paying.

impact of credit rating an IVA

An IVA won’t affect your credit score forever. It will normally only be kept on your credit file for six years in total.  This is because an individual voluntary arrangement usually lasts for five years, and after it ends it will remain on record for one more year.

Article author

Katy Davies

I am a keen reader and writer and have been helping to write and produce the legal content for the site since the launch.   I studied for a law degree at Manchester University and I use that theoretical experience, as well as my practical experience as a solicitor, to help produce legal content which I hope you find helpful.

Outside of work, I love the snow and am a keen snowboarder.  Most winters you will see me trying to get away for long weekends to the slopes in Switzerland or France.

Email – katy@helpandadvice.co.uk

LinkedIn – Connect with me

Frequently Asked Questions

Who are Capquest Debt Recovery Limited?

Capquest Debt Recovery are debt collectors, though you may see them referred to as a ‘credit solutions provider’. 

Who are Arrow Global Group plc?

As mentioned Capquest is part of the Arrow Global Group, a multinational finance company. 

What is a debt collection company?

Put simply, debt collection companies reclaim debts that have not been paid. 

Some work for lenders, receiving a fee when they retrieve a debt. Capquest however buys old debts directly off companies – usually at a discount – and makes a profit from successfully retrieving the debt. 

Why are Capquest Debt Recovery contacting me?

Letters addressed to you from ‘Arrow Global Group’, ‘Capquest Debt Recovery’, or ‘Capquest’ mean that Capquest believe you owe them money. 

 

Share this page

Share on facebook
Share on twitter
Share on email
Share on linkedin