mbna sold debt to link. any advice please?

[Seminole]

This is a toughie. The point of a CCA is to make the creditor prove that there is a valid contract underlying their claim of a debt. It's not a debt avoidance measure where you know that a completely valid debt exists.

 

When it comes to debt buying companies however, I take a slightly different view. They will normally purchase a debt at a percentage of its face value. In other words they pay less for the debt than they will try to recover from you. Consequently they can make big profits, particularly if they add charges and interest on as well.

 

Very few, if any, debt buyers behave pleasantly. They harass, bully and intimdate people into paying sometimes more than they can afford. Link, for example, are quick to use the county court system. This means that they can lock in the face value of the debt (and their profit). They also very quickly go for charging orders to secure their debt and their profit against peoples' homes.

 

In a sense dealing with companies like Link is a game. Personally if I were dealing with them, I'd make them prove that they have the right to collect the debt and make them jump through every hoop I could think of. Provided that it doesn't damage your relationship with CCCS, I'd be inclined to insist on the CCA and refuse to make further payments until it is received.

[hirsty07]

hi,

 

sorry only just replying.

 

Oneofakind, i currently pay Link £40pm (through the CCCS).

I've kept up the monthly payments since Link took the debt on. I don't know if thats a good thing really?

 

Its just a case of wanting to know what to do next as i really want to keep things as simple as possible.

 

There again what could be more simple than forwarding a CCA on to me that i have requested ???

 

 

Seminole,

thanks for taking the time out to give me your more than welcome advice...

The thing is with Link, they tried it on big time down the phone, ie, take me to court, threaten to put charging orders on my property (as you mentioned above) etc etc .

Not nice at all.

 

Its funny though as soon as i mentioned i was recording their phone calls all the nastiness stopped.

 

The phone cals totally stopped after the CCA i requested in September 2007 !!!

 

The balance sheet they have just sent me through is the 1st thing i have heard since their letter at the end of Sept 2007 stating that they were going to send the CCA out as soon as they could trace it ???

 

Obviously (in my mind) if they had the CCA they would have sent it out & surely followed the up their threats that we have both mentioned above.

 

I know its a tricky one. But i am just wanting a general opionion of which path to take now.

 

Thanks for all your replies.

[oneofakind]

Bottom line is that the worst Link can do is take you to court...

 

BUT if you've been keeping up your agreed payments, and they DON'T have a CCA, then they haven't a leg to stand on!

 

If you stop your payments, your debt won't just disappear... even if it's unenforceable, it'll stay on your file for six years. At least, if you keep paying, it'll eventually be gone.

 

If, on the other hand, they were to start again with their repertoire of underhanded schemes... well then they deserve everything you can throw at them. If I were you, I'd let sleeping dogs lie.

 

(In fact, I have a couple of 'accounts' in the same situation with Link. As long as they play fair, I'm reasonably happy.)

 

 

D;)

[angry cat]

If it were me, I would make a fresh CCA request to Link.

 

If after, 12+2 days they fail to supply you with a copy of the alleged agreement, then I would write stating that the account is 'In Dispute'.

 

At that point, you could cease making payments to Link.

 

Remember, that Link cannot issue proceedings unless they hold a vaild regulated credit agreement, together with any other document referred to in it (the agreement).

 

At the end of the day, the choice is yours.

 

AC

 

p.s. the statement that you recently received from link is their obligation under the CCA 2006, fully implemented 1st October 2008 (statements of account);

Link are obligated to send out statements every 12 months, backdated to October 1st 2008.

If these are not sent out and/or they are not correct, then the debt cannot be enforced, until the error(s) have been amended.