Clear old debts to apply for a mortgage

[Timbersdown]

Dear all

 

i have read so many posts I am now so confused as what to do next.

 

I currently have two debts with Link Financial, both in excess of £3000.

 

Since 2012 there has been a payment plan on both debts and credit file is marked default. 

I have also recently written to them with an offer of final settlement, to which they have never responded.

 

I am now unsure where to go from here, Link Financial never seem to reply and I wish to clear the debts.

 

any advice would be greatly appreciated 

[ericsbrother]

stop paying them, they will soon come back with an offer.

have you had regular statements of payments, outstanding amounts etc?

[Timbersdown]

really?

They send an annual statement !

[dx100uk]

what type of credit are they

when did you them it out

whats the defaulted dates

who were the original creditors

 

have you ever sent the fleecers a CCA request?

 

you should never blindly pay a DCA like a cash cow

they ARE NOT BAILIFFS

and have

ZERO legal powers on any debt.

 

 

[Timbersdown]

these where previous MBNA and Barclaycard credit cards and were defaulted in 2012.  Link Financial mark defaults every month as the token payment is less than the minimum they accept. The last time I wrote to them was in November 2019.

 

I have not sent a CCA request. Can I still do this, this far along?

[dx100uk]

its the very 1st thing you do when a fleecing dca buys a debt!!

 

 

when did you take these cards out?

 

dx

 

[Timbersdown]

Oh man! I was never advised that by CAB

 

the card were taken out in the early 2000’s no later than 2004 

[dx100uk]

not a chance of enforceable paperwork 

both of those cards for that period ae well known to have had most of the original signed agreements destroyed.

 

well that's the trouble with any debt advisors, the never look at enforceability.....

why do you think the OC's sold the debt?

why didnt they take you a member of joe public to court and crush you...

 

use our search 'cash cow'

 

and link are by far the worst.....

 

http://www.mirror.co.uk/news/uk-news/boss-of-a-debt-chasing-firm-link-financial-790005

 

http://www.homesandproperty.co.uk/property-news/news/millionaire-debt-collector-digs-deep-south-kensington

[London1971]

Why do the CAB do this ?  They are supposed to be helping people.

 

Best thing to do with Link is send of for the CCA and when they don't produce it, stop paying them.  

 

I never paid Link a penny and it never went beyond a few threat o grams and a couple of calls.  The debt has now been Statute Barred since 2014. Not a peep from them.

[Timbersdown]

So I request a CCA from them and then stop paying when they can’t produce one?

 

how long can they chance the debt once it has been requested?  

[dx100uk]

they have 12+2 working days, then you can cease payments.

 

 

[Timbersdown]

Ok. I will give it ago.

 

thank you for  your advise

[Timbersdown]

One more thing, will it make a difference. That I already offered a finial settlement ?

[dx100uk]

nope, but ofcourse the debt wont be statute barred till your last payment date gets to 6yrs old

shame you've been blindly paying...

 

dx

 

 

[Timbersdown]

Great. Thank you again, so helpful.

It is pretty annoying I’ve been paying them,  thanks to the CAB but thankfully its only ever been £1 a month

[Timbersdown]

Hello all,

 

currently seeking advice to clear my debt with Link Financial (the worst).  

The debt is over 7 years old and no longer show on my credit file, however it’s still live as still making regular payments to them .

 

 I am now aware I can or should of requested a CCA from them.

 However my husband has been gifted a sum of money to be used a deposit for a mortgage therefore need the debt closed ASAP.

 

Any ideas on the best way forward as I’m well aware We won’t get a mortgage with this debt. 
original debt was with barclaycard and Mbna

credit score is good/high

Link have not replied to previous finial settlement offers

 

thank you in advance

[dx100uk]

old and new threads merged.

 

you were advised back in jan to stop payments and CCA them.

the debt no longer shows on your credit file  and can't come back

so has no bearing upon any mortgage application and doesn't need 'paying off'.

 

dx

 

 

[Timbersdown]

Thank you, That’s is what I thought but 

the concern is, the mortgage company are to ask for  bank statements which will show pervious payments to them and would require details of it. I’m just looking for way around it

 

thank you

timbersdown 

 

 

[dx100uk]

none of their business!!

what doesn't show on your credit file can't hurt you.

 

[London1971]

To a mortgage company, the debt doesn't exist.  Nobody can see it once it's off your file. To offer any full and final payment is throwing away money, just like throwing it on the bonfire.  

 

Just CCA Link, they won't come up with anything, then stop paying them. It's as simple as that.  The mortgage company might or might not ask you about what that  monthly payment is, but it's easy to cross that bridge when you come to it.  Just because you have a loan to pay off doesn't mean you won't get a mortgage. Especially as it isn't showing as a default on your Credit File anymore. You can tell them the truth if need be just don't mention it was defaulted.

 

In any case you should find a good Broker, who will advise you on what to do. That is what I did

[Timbersdown]

Thank you for ur replies, very help and reassuring