Link Financial Outsourcing ... Plz help

[Lakeslass]

Hello All

Gosh where do I start??!! I received a letter from Link Financial Outsourcing today telling me someone tried to apply for credit in my name blah blah blah. My gut instinct was to ignore it and use my old friend google first and sure enough I found your forum.

I have no idea what debt I have, could be £500 or £50,000 ... you see I suffer from bipolar disorder and in Jan 2006 I went to live in a third world country to try to hide from my life. I was heavily medicated at the time and have zero recollection of my financial affairs back then.

I remember a phone call to my mobile overseas in early 2006 asking why I wasnt making payments off a bank loan (no idea which bank I'm afraid but I have checked with my normal bank and its not them) and I explained my circumstances (that I now lived abroad and my mental health condition was deteriorating) ... I never heard from them again and forgot all about it.

I returned to the UK 2 years ago and I have never come across any paperwork for a loan and never received a letter about any debt or defaulting on a debt until this letter today. I don't even know which address I would have been living at then. I have always paid bank loans off in the past and since but at that time I lost myself completely in my illness.

I took out a small bank loan with my normal bank in January so I think my credit rating must be ok? Is there a way to find out what I owe and how old the debt is?

To be honest I feel like doing the fingers in the ears and singing lalalalalala until it goes away but the problem is I now live with my elderly parents and no way can I let them be dragged into millions of phone calls and court action .. they have enough to cope with just caring for me. I can't work and have no way to pay old debts off (my small loan in January was for a car and that is being off for me).

I know this all sounds so vague and silly but welcome to the life of mental illness!!! If there is any advise you can offer of what I should do now it would be most welcome.

[Undercover Elsa]

Re: Link Financial Outsourcing ... Plz help

Hello Lakeslass
Well the good news is if you haven't had anything to do with it since 2006 (no payments or written acknowledgements) then it's probably Statute Barred.

The bad news is...well, there isn't any at the moment.

Link like buying Stat Barred debts and hoping people will pay without realising.

At the moment sounds as if you've just had a bog standard fishing letter hoping you'll take the bait. So don't. Ignore until or unless they specifically state what debt they're supposed to be chasing.

Wait and see what, if anything they send next, then let us know and we'll take it from there. If they ID the debt, then we'll make them jump through hoops to provide proof, supply the agreement etc.

Don't worry about these lowlifes, if your credit ratings OK then it probably means this debt is SB and dropped off your file.
Let's wait and see what, if anything they come up with next

Shep x

[oscar]

Re: Link Financial Outsourcing ... Plz help

Link have in the past sent letters saying "someone has applied in your name"

Its a fishing trip looking for a big bite. Chances are, no one has applied for credit, and its possibly a random, old debt that has long since been forgotten, or that you just happen to have the same/similar name to the person they are looking for.

I wouldnt apply for you credit file as this would just alert Link. Providing they dont have your telephone number, I would be tempted to ignore this one.

[Lakeslass]

Re: Link Financial Outsourcing ... Plz help

Hi Shep

Thank you so much for your reassuring reply.

What shall I do if they start calling my parents number? (no idea if they have the number or not as I dont know where I was liing back then) My father is very ill and a very old fashioned man so debt problems could just about kill him off. I don't mind the stress as its my own problem but I want to keep them out of it at all costs.

Phew .... deep breath.

[Lakeslass]

Re: Link Financial Outsourcing ... Plz help

Sorry but what does " Statute Barred" mean?

[alangee]

Re: Link Financial Outsourcing ... Plz help

Hi Lakeslass

It means that if you have not acknowledged or paid any money to an account for six years or more, then the creditor cannot make a claim against you, or, I believe, chase you for that debt.

I should add that many Debt Collection Agencies still try to collect on a Statute Barred debt, in hopes that the debtor is unaware of the issue.

Alan

[Lakeslass]

Re: Link Financial Outsourcing ... Plz help

Thank you alangee.

Fingers crossed then. Shall get back to this thread when or if I hear from them again (although my gut says I will hear from them again ... and again .... and again!!!).

[Undercover Elsa]

Re: Link Financial Outsourcing ... Plz help

Hi Lakeslass,
As Alan says, once a debt goes for 6 years without being paid or acknowledged in writing, then they cannot take you to court for it. It's unenforceable. Furthermore, once you tell them that it's Statute Barred and hence won't be paying it, it's against Office of Fair Trading Guidelines for them to continue pursuing it.
The only exception is if a CCJ has already been obtained without your knowledge, but I doubt that's the case here.

If they haven't already tried ringing your house let's hope they don't have the number. We have a template letter re harrassment that we can send if they do.

The golden rule is never ever to speak to them on the phone. They will say anything to trick you into paying, even if it's not your debt. All dealings with any debt collectors must be in writing only.

Shep x

[Lakeslass]

Re: Link Financial Outsourcing ... Plz help

Thanks Shep

Advise noted ... no talking on phone!! Shall just ignore everything .. if there's one thing my illness is good at its ignoring things and hoping they just go away!! If not I have you lovely people to help me YAY

If they send someone to the house my parents will probably just shoot them ... about 5 minutes after they finally get round to shooting me

[alangee]

Re: Link Financial Outsourcing ... Plz help

Dont worry. If they do establish that you are the person they are looking for, they then have to prove that the account is not statute barred. It is not up to you to prove it.

Alan

[Lakeslass]

Re: Link Financial Outsourcing ... Plz help

Thanks Alan ... wow you peeps are so helpful and reassuring.

My mind is such a muddle about that period of my life, although I don't understand why I've never had any letters over the years.

Will get back to you when I hear from them again. Keep up the good work ... I was ready for a heart attack an hour ago!!

[Undercover Elsa]

Re: Link Financial Outsourcing ... Plz help

Even if it's not Statute Barred, they have to come up with an agreement etc
...plus if you are officially diagnosed as Bipolar they have to be sympathetic and adhere to guidelines (The MALG Guidelines) in dealing with you.

Don't worry Lakeslass, you've come to the right place, we'll look after you

[Lakeslass]

Re: Link Financial Outsourcing ... Plz help

The part I dont like is I cant find out about my credit rating or how old the debt is, as this will alert them ... hardest part is accepting being in the dark and doing nothing I suppose.

I tried reading the MALG guidelines but it was all too wordy for me to take in. I am officially diagnosed bipolar and still under the local mental health team and on regular meds.

The good news is I have nothing, no assets they could take.

Can they come after my parents for recovery of an old debt in my name? This has been my fathers biggest fear for years (as manic episodes tend to involve borrowing and spending large amounts of money), so he worries about losing his home because of my problems.

[Undercover Elsa]

Re: Link Financial Outsourcing ... Plz help

Absolutely not, Lakeland lass...you need have no fears in that respect. Your parents have no liability for your debt. If indeed it is your debt and not just Link chancing their arm with a similar name.

[oscar]

Re: Link Financial Outsourcing ... Plz help

The part I dont like is I cant find out about my credit rating or how old the debt is, as this will alert them ... hardest part is accepting being in the dark and doing nothing I suppose.

I tried reading the MALG guidelines but it was all too wordy for me to take in. I am officially diagnosed bipolar and still under the local mental health team and on regular meds.

The good news is I have nothing, no assets they could take.

Can they come after my parents for recovery of an old debt in my name? This has been my fathers biggest fear for years (as manic episodes tend to involve borrowing and spending large amounts of money), so he worries about losing his home because of my problems.

Dont worry about your credit file at the moment, doing nothing at the moment is probably best.

They cannot come after your parents for any debt, they would have to get any money from your assests, and as you said, you havent got any. Your parents WONT lose their home.