Link Financial requesting financial statement - I don't want to give!

[nlldavies]

Hi,

 

I was chased by a company called Link Financial last year for a debt I owe.

 

The debt was an old bank account overdraft that was withdrawn unexpectedley when the banks got jittery in 2006.

I ended up getting a default on my credit profile and it is due to expire in November this year.

 

Up until last year I did nothing with the debt until it came to a DCA called Link Financial.

 

I decided then to start getting rid of it and told Link I would pay £30 p/m via standing order and not one of their direct debits.

I've paid this without fail for the past 12 months.

 

Link Financial have called me a couple of weeks back to make me an offer to settle the debt at a lower level in one payment.

I said as much as I would like to I could not afford it at that time.

 

They then asked me to answer some questions about my financial status,

this got my back up and I said I did not want to do that ...

at this point this company's representative got quite nasty on the phone and I sensed she was trying to wind me up which I did not fall into.

 

They have now sent me a form to fill with my financial circumstances which I have not yet filled and really do not want to.

 

Do they have any legal standing to request this info given the fact I agreed to pay £30 p/m a year ago and have continued to do so.

 

Are they just getting jittery knowing the debt is exempt come November.

 

Can I keep refusing to give this info without breaking any law? I want to pay ths debt off but I am not doing it by being bullied or what is starting to appear as harrasment by phone.

 

I would be gratefull for any advice.

 

Many Thanks

[ims21]

You are not under any obligation to give them your financial details. If it were me I would not entertain giving it to them but do carry on your payments at a rate you can afford.

 

What do you mean that this debt becomes exempt in November?

Edited September 4, 2012 by ims21
Spelling

[nlldavies]

You are nit under any obligation to give them your financial details. If it were me I would not entertain giving it to them but do carry on your payments at a rate you can afford.

 

What do you mean that this debt becomes exempt in November?

 

Thanks ims21. Obvously an incorrect term. What I mean is that the default disappears from my credit file in November and they may feel it a disadvantage for them seeing as it's importance diminishes.

 

Please correct me if my understanding of how it works is wrong. However, my intention is to continue its payments and if an offer came along where I could afford it I'd get rid there and then.

[unclebulgaria67]

Just keep the payments going and tell them that you have no legal obligation to provide them with any financial info. They are just trying to pressure you into increasing your payments.

 

There is nothing they can do about it and they will give up asking for awhile. Expect another review in 6 months or a years time, with you having to repeat.

 

Just because it comes off the credit file in November, does not mean they can't get a CCJ if you stopped paying, after November.

[dx100uk]

hey ho!

 

are you saying they have offered a discount?

 

dx

[Bandit127]

Not been said in black and white, so I will chip in. Only a judge can order you to divulge your financial details.

 

Another DCA did the same to me last year and I resisted on the I & E. It is a cynical attempt to pressure you in to increasing your payments. The company representative probably saw a commission disappear when he/she realised they couldn't get the increase, hence the response.

 

No I & E should be sent and no increase will be considered. In fact some here might write back having reviewed their I & E to find that can only afford £1 a month from now.

 

I am not that brave - I would continue with the £30 a month. It means it is very unlikely that they will get a CCJ awarded if they ever applied for one.

[Jam_Buttie]

I love writing letters thanking DCA's for the I&E form to fill in...

 

"I have taken time to fill out the I&E form you sent me and I am glad you did as I must now reassess my situation with your company and reduce my payments to £1.00, to be reviewed in 2 months time.."

[dx100uk]

Not been said in black and white, so I will chip in. Only a judge can order you to divulge your financial details.

 

Another DCA did the same to me last year and I resisted on the I & E. It is a cynical attempt to pressure you in to increasing your payments. The company representative probably saw a commission disappear when he/she realised they couldn't get the increase, hence the response.

 

No I & E should be sent and no increase will be considered. In fact some here might write back having reviewed their I & E to find that can only afford £1 a month from now.

 

I am not that brave - I would continue with the £30 a month. It means it is very unlikely that they will get a CCJ awarded if they ever applied for one.

 

i really do hope you've cca's these jokers bandit

link are the biggest fleecers out there

 

bet not a penny IS going off your debt.

dx

[Bandit127]

i really do hope you've cca's these jokers bandit

link are the biggest fleecers out there

 

bet not a penny IS going off your debt.

dx

Well, they do own them (2 debts). Not Link though - another DCA in my case.

 

Per your previous advice I Noddled for that info and confirmed that they own them.

 

CCA requests were both referred to the OC and they are still in default of those.

 

One debt is a CC that they (officially) do not have an "original" agreement for.

 

One debt is a current account with overdraft that they offset the whole balance of a loan to (after default). Still reported on my CRA as 2 debts. SAR overdue on the OC for that...

 

They have completely failed on a Statement of Account or Notice of Assignment for either so both accounts are now in dispute. Not under the CCA 1974 now, but that I cannot verify that the amount claimed is correct or that they are legally entitled to collect it

Edited September 8, 2012 by Bandit127

[dx100uk]

as long as you're not paying anyone without a cca

 

its not really a good idea to portray you are afraid to stand your ground and drop payments either.