Link Financial and Barclaycard debt

[Archie44]

Hi,

 

I had a credit card debt with Barclaycard that defaulted.

It was then sold onto Link Financial, who I've been paying a £100 a month to for the best part of 2 years.

 

I CCA'd the debt a while ago and they produced some paperwork with my signature and address, etc...

 

Due to a change in circumstances, I stopped the payments 3 months ago and I'm trying to arrange a full and final settlement to clear the debt.

They're currently not interested in negotiating, but I know this process can be slow.

(Maybe quicker if they're not getting any more out of me each month)

 

As I've stopped the payments,

they're now getting heavy with the letters and threatening court action,

but before that they're threatening to raise a default against my credit record.

I didn't think they were allowed?

 

I already have a default from 2 years ago for this debt from the original creditor, Barclaycard.

Link Financial do appear on my credit report (they appeared when Barclays vacated) with a load of green markers for the payments I made, followed by 3 red markers for the months I've recently missed.

 

If I continue to not make monthly payments can they record a fresh default on my account, as I obviously don't want this to happen?

(I still have 4 years for my original default to drop off, but I don't want another default registering so my credit report will be poor for another 6 years)

 

What's the situation with this?

Can I ignore their threats and keep pushing them for a full and final payment,

or is the likelihood of a default and their court action quite high?

 

Thanks

[dx100uk]

if plink have it

then somethings wrong

tell us the full history please

when you took it out etc etc?

 

who said that CCA return is enforceable?

scan it up to ONE MULTIPAGE PDF please

read upload.

 

a debt cant be defaulted twice

and a powerless DCA cant default you anyway.

 

whatever you do

the debt is there till the default reaches its 6th birthday

then the whole account vanishes

doesn't mean its not owed mind.

 

what made you start paying Link?

they are NOT BAILIFFS

 

dx

[Archie44]

I took out the CC with Barclaycard in 2012 and defaulted in September 2016.

 

I was paying them £100 a month (below the minimum payment)

 

after a few months they passed the debt onto Link Financial/Asset Capital.

I had a letter from Barclaycard to say they'd passed the debt on and a letter from Link Financial to say they now owned the debt.

 

I redirected my payments from Barclaycard to Link Financial and carried on paying the £100 a month until 3 months ago. I suspect reading other posts this was a stupid thing to do, but not knowing any better that's what I did...

 

Due to moving house, new baby, etc..

I've been short on funds lately and so I stopped paying Link 3 months ago.

 

Before this I had made a few offers of F&F just to try and get them out of my life

- Not interested.

 

I sent a CCA request for which they provided reconstituted terms from Barclaycard along with my address and contact information as it was at the time.

(I'll scan and post, but I don't have it to hand right now due to the house move)

 

I do have a copy of the recent letter that I've just posted up and this has been received following my 3 months of non-payment.

 

By making payments to Link and therefore acknowledging them and the debt, have I made hard work for myself?

 

I guess ultimately I'm wondering whether to:

 

- Ignore them altogether and never pay them another penny,

but I don't like the thought of possible court/CCJ or something like this

(especially as they're reconstituted agreement was accurate when I CCA'd it)

 

- Halt payments and continue to try and arrange a full and final offer and ensure the balance is not collected thereafter

 

- Catch up with my 3 missing months and resume payments as before (And keep paying for several years until it's gone!)

 

If you can help based on the above, I'd appreciate it massively.

 

If you need the copy of the CCA reply then it will be a week or so until I can get my hands on it.

 

Thank you

 

Attachment, attached!

Link.pdf

[ericsbrother]

they are claiming that an agreement between you and them exists under the consumer credit act.

 

I doubt whether this is true, the defaulted debt was assigned and that means the terms are still the same as under the original debt.

 

If they start lacing new markers on your credit file you can insist they remove them or risk being sued for a lot of money.

 

What they are really saying is get in touch and start paying a sum we like or we will demand the full amount in one go.

There is a risk attached to that strategy in as much as if they did go to court and you showed willing to pay them say £50 a month then they will be worse off then they were before.

 

The debt is only a year old so acknowledging it hanst really done any damage

 

Do you have the letter of assignment to see if the debt is really theirs or just that they are collecting the money on behalf of Barclays and then pretending they are more than they claim to be.

 

You should also see what charges have been added to the account by asking for a statement of account from the time they became involved.

 

If they really own this then they will be more than happy to oblige.

Your credit files should have a entry that reflects the original debt and its transfer to Link,

if it still read barclays then they are definitely trying it on and you can tell them to get stuffed and go back to Barclays with an offer

[dx100uk]

wonder why BC sold the debt to plink?

 

something must be wrong

not go heaps of £12 penalty fees each month from when you short changed them have you?

 

get an sar running to BC

get all the statements.

 

somethings not right here,,,find it

 

how much is outstanding?

[Archie44]

They actually sent me a Statement of Account along with the previous letter.

 

I'll attached it in a second with the detail blocked out.

 

There have been no charges added since they took over the debt.

(Not sure if that's because I still have the chance to back-pay them for the 3 months I've missed?)

 

As I said before,

I can't access the old letters at present but can confirm Link now own the debt.

 

The letters were quite clear from memory and my credit reports show Link as the creditor, in replace of BC.

 

It's a large debt, for me anyway, current balance a little below 10k.

 

Like you said, there must be something about it that meant BC decided to get rid of it, else why else wouldn't they take things further with me directly?

 

I'll dig out the paperwork they sent me after my CCA request and post this up, as soon as I can get to it.

 

Thanks again

 

Here's the statement...

Link2.pdf

[dx100uk]

have you got every statement from the day you took it out?

 

dx

[banksdomyheadin]

Maybe helps or not?

 

Had BC debt for £7K.

Plink took it over some 4 maybe 5 years ago?

Had been paying a fiver a month for 3 years then got a call out the blue some 2 years ago saying if I increased my payment to £35 a month they would not default me.

Being naive I agreed.

 

However six weeks ago I accessed my credit files to find Link had been putting adverse credit ratings on my account for 2 years,

sent them an email

got a letter back in the post a week later saying they had made a Commercial decision with all credit agencies to remove all Link entries.

 

Accessed my credit report yesterday and Link have disappeared and my credit rating gone up....

Got me thinking though that I have messed up from the beginning with my BC and they must not have defaulted me or Link were kidding me?

[dx100uk]

can you not keep to your own thread please banksdomyheadin

[banksdomyheadin]

Didn't have a thread just thought I would try and help with what has happened to me recently with Link and BC - sorry.