Link Financial

[Kempes78]

I'm new to the site, i just got a letter from a link financial, i believe it could be 1 of 2 things, student loan from back in 98 or store card which i only owed about £100 in 2000 but i was skint and chose to ignore, do you know if Link Financial buy student loan debt? thats what i'm worried the most about

Any help advice would be really appreciated

[MrsD]

Re: Link Financial

welcome to AAD

When did you last pay the storecard?

[Never-In-Doubt]

Re: Link Financial

Based on your post respond to link with this DO NOT put a phone number or anything, use the same details as they used in their letter ie "mr m smith" means don't give out the fact "M" means mark or whatever (ie mark smith)

Send this: Our Templates | Harassment & Intimidation Templates | You know nothing of the Debt / Prove It

[Kempes78]

Re: Link Financial

Lat Paid around 2002, i kepy putting it off:-( wish id just paid it now

[Never-In-Doubt]

Re: Link Financial

Send the template above. It is statute barred anyway.

Basically tell em to piss off. They have NO right to any monies due to limitation period kicking in in 2008 (6yrs since last payment)!

It's finished. Just send that template. You'll be fine.

[Kempes78]

Re: Link Financial

the letter to me says

Dear *****

Your address has been highlighted to us as a potential new address for our customer with whom you share the same name.

we ask taht you contact our office on blah blah blah to discuss this information supplied to us.


The worst thing is not knowing how much i owe. i feel like just contatcting them just to get it over and done with......but i know i would struggle financialy

[Kempes78]

Re: Link Financial

Thnak you so much for this info

Basically tell em to piss off. They have NO right to any monies due to limitation period kicking in in 2008 (6yrs since last payment)!

It's finished. Just send that template. You'll be fine.[/QUOTE]

[Kempes78]

Re: Link Financial

Never in Doubt what if its student loans?

[Never-In-Doubt]

Re: Link Financial

Ahh ok ignore that letter. Await a follow up.

Whatever you do; don't do anything daft like admit it!!

Student loans are different altogether but still, don't worry about that too much right now as you're technically going to ignore them right now.

See what they send next and keep us updated

[Never-In-Doubt]

Re: Link Financial

Never in Doubt what if its student loans?

Old style (pre 09/98) - can become statute barred

New style (post 09/98) - cannot be SB

"the Student Loans Company are still allowed to take money from your wages for a loan over six years old and they do not have to go to court to do so".

[Kempes78]

Re: Link Financial

My student loan was last paid to me in september 1997 then i graduated in summer 98

am i old style? thanks for all your help

[MrsD]

Re: Link Financial

looks like you are "old style"

which is good cos then its SB

[Kempes78]

Re: Link Financial

Can anybody explain "statute barred" in lay mans terms - this is all new to me, thanks

[MrsD]

Re: Link Financial

if you haven't admitted the debt in writing or paid a payment in 6 years (England and Wales) and 5 years (Scotland), they can't pursue, and in Scotland the debt is totally extinguished.

[Deepie]

Re: Link Financial

Can anybody explain "statute barred" in lay mans terms - this is all new to me, thanks

How long can a creditor chase a debt?

This is dependent on the type of debt you have. The most common form of debt which people ask about in our forum is unsecured debts eg credit cards, personal loans, store cards, catalogues, bank loans, finance company loans etc. The Limitations Act 1980 states that when the following conditions are met then the debt cannot be pursue through the courts.



The conditions are:-

• That the creditor has not taken court action against you, eg CCJ, AND
• You have not made any payments on the debt over the last 6 years,AND
• During the years, you haven't written to the creditor acknowledging that owe them money.

As you can see all three conditions must be met in order for the debt to be "time barred". So the answer to the above question is 6 years.5 years in Scotland............