Link adding interest to 2 GE old sold loan debts

[Ford]

looks they are trying to rely on para 8 of that.

but, if the agreement has been ended, then contractual interest on the 'live' agreement shld cease from that point, save for any compound outstanding on the amount prior to ending.

if they want to try claim post judgment contractual interest, that wld require a separate claim, after there has been judgment on the debt.

[roaringgirl]

Righto, a SAR t GE Money, along with the ppi claim. And a letter to Kearns explaining what I have done and asking them to freeze the account. Am I fit in assuming that while I am asking for a SAR, they must freeze the account?

[renegadeimp]

No. A sar is just a request for info. You will need to put the account into dispute and show there's a dispute with it

[roaringgirl]

How do I put it into dispute? Write a letter outlining the dispute and stating that the acount is in dispute?

[renegadeimp]

If its a dca chasing you, then you just give an outline of the dispute tell them straight that a sar is with them and you are exhausting their complaints procedure. Make sure eyou actually do get complaints off.

 

Then you tell, not ask, them to stop all activity in the account while the dispute is ongoing.

 

Then see what they say. Link may very well say otherwise but they're one of the biggest fleecers out there.

[dx100uk]

cant see how you can do a PPI reclaim without the statements

await the sar

 

 

why no ring Ge or FN and ask..

 

 

can you tell me when account number XyZ was terminated by you please

[roaringgirl]

cant see how you can do a PPI reclaim without the statements

await the sar

 

 

why no ring Ge or FN and ask..

 

 

can you tell me when account number XyZ was terminated by you please

 

May 2007, why?

[dx100uk]

so you have that in writing that the account was terminated may 2007?

 

 

dx

[roaringgirl]

From the letter written by the solicitors

 

"This matter relates to a Fixed-Sum Loan Agreement financed by GE Money Home Lending which was subsequently sold/ assigned to our client, Asset Link Capital (No 1) Limited on 17th May 2007."

 

I need to find out which one it was.

[dx100uk]

but that doesn't mean it was terminated...geddit it yet?

[roaringgirl]

No, I am lost......

[dx100uk]

to prove plink cant charge additional interest

you need to prove the accounts were terminated by the OC before sale....

 

 

hence my post earlier......go ring ge/fn and ask!

 

 

you need to counter...

As the debt was acquired prior to the expected completion date of the agreement ( payable over 120 months) interest continued to be debited to the account until October 2011 at which point the interest was frozen as the interest charged was equal to but not more than, the interest that would have been charged should you have paid the contractual instalments as and when they became due.

[roaringgirl]

Right, so if the account was terminated then they can't charge additional interest.

 

It the debt was simply assigned then they can charge interest.

 

How do you suggest I counter their claim from their letter?

[dx100uk]

Right, so if the account was terminated then they can't charge additional interest. yep

It the debt was simply assigned then they can charge interest.- nothing to do with that

How do you suggest I counter their claim from their letter?

 

 

already answered

 

 

go ask GE or FN by phone

if no go

then SAR

[roaringgirl]

Just rang GE Money. Both debts were SOLD to Link.

 

What do I write to the solicitors now?

[dx100uk]

we already guessed that

were they terminated too?

which was the idea of phoning....

[roaringgirl]

Bugger.... Do I specifically have to ask if they were terminated? I guessed that being sold meant they were terminated as well.... I assume then that that is not necessarily the case?

[dx100uk]

:behindsofa:only been asking or telling you that for 2yrs...what more can we do..

[roaringgirl]

Sorry

[roaringgirl]

They did sell the debt but did not terminate it.

 

Now what?

[renegadeimp]

The fact it's sold means they terminated it

Long before they sold it

[roaringgirl]

Oh bloody hell!!! I am not stupid by a long shot, but I am confused now!!!

 

When I spoke to the woman on the phone, she said the debt was sold. I said was it terminated and she said she didn't is what I meant. She reiterated that the debt had been sold and that it became the property of link and they owned the debt.

[roaringgirl]

In short - yes I know I sound thick - the debt is sold ergo link cannot charge interest.

[dx100uk]

so did they terminate it or not before sale to plink?

[roaringgirl]

When I asked her she said it was sold, and that GE Money no longer have anything to do with it. The debt is the responsibility of Link. I pushed her and said is it terminated? She didn't understand, went away and came back saying it wasn't terminated. But the debt was SOLD to Link and as of May 17th 2007 no longer the responsibility of GEMoney.

 

 

Surely this means it is terminated?!!!!