Link Financial

[mrmallard]

Hi All,

Hope you can shed some light and advise.

In short, GE money sold our account to Link Financial. They said we couldnt be considered for monthly epayments asa we are home owners, however, if we paid by a certain date we could settle as a one off for £8500 rather than full £11000.
We asked for CCA. It didnt come in 12 plus 2 days. A copy of the signed agreement arrived in 30days but not the statement of account (arrived after 30 days with my prompting. no T&Cs to date.
they have now asked us to propose a monthly repayment This is in writing - the original refusal was only verbal and when asked to put in writing was unforthcoming.
We have been advised to ignore their letters and await county court action. Also advised that it is strange for a DCA to offer a reduced settlement to get a result.
Can you tell us:

Are Link in Default?
If so, what do we do next - offer a proposal or ignore?
If it goes to county court, what do we do and what are the likely consequences?

Thanks all

[Never-In-Doubt]

Re: Link Financial

Hi & welcome

Its not as straight forward as that. Basically if they have now complied with your s.78 request then fine. No default. UE works that until they comply they cannot enforce however at ANY point in the future, if they then do comply it becomes enforceable again.

It's sometimes wise to make offers but depends on lots of scenarios and as we know nothing about your actual debt status it's hard to help. If they've sent you a cca etc then check that the pt's are present with the linked terms. If you need help then read the ue thread that says "read me first"...

The comment about waiting for a ccj is laughable and should be disregarded as bollocks, which is what it is!!

Best of luck.

[Never-In-Doubt]

Re: Link Financial

See this:---> Unenforceability Diaries - Read me First! - allaboutFORUMS

[Never-In-Doubt]

Re: Link Financial

pps that nonsense about being homeowners. Is this in writing?

Just noticed this. Please tell me they said that in writing? If so we'll throw the book at em. I think however this was told verbally as it's a direct breach of oft guidelines on debt collection. Basically, it is utter nonsense. If you want to make monthly payments then do so directly into their account. They can't do a thing!!

However I think you need to tell us a bit more then we'll be better placed to help you sort this.

[garlok]

Re: Link Financial

Has Post 1 been edited? it does not seem to read the same as my notification direct to my e-mail??

Garlok

[Never-In-Doubt]

Re: Link Financial

Nope or it'd say so under the post mate.

See below for example

[garlok]

Re: Link Financial

Realise that mate, thanks, my notification has come with a couple of bits out of kilter and it reads a bit differently about the house bit.

I'll clear my e-mail boxes down again as its probably BT, it was the airshow today and the coolies have probably stopped pedalling down at the exchange.

regards
Garlok

[CleverClogs (RIP)]

Re: Link Financial

We have been advised to ignore their letters and await county court action.

Oh, good; at least they didn't advise you to leap off Beachy Head.

Also advised that it is strange for a DCA to offer a reduced settlement to get a result.

That's also nonsense.

[mrmallard]

Re: Link Financial

Hi,

The full story:

in May this year I rang GE Money to make my regular agreed repayment figure. i was told that the debt had just been sold to Link financial and was given the number to call ( although I have since asked GE Money to put in writing the sale to Link they havent done so).
I rang link straightaway and was told immediately that they would not entertaain monthly payments as we are homeowners. We would be required to settle the debt of £11000 in full as a one off payment. However, if we agreed to pay £8,500 by end of June (with 10% pof this paid by end of May) they would accept this as final payment . failure to do so would result in legal action.
I asked for all this to be put in writing. What I actually got was a letter wording that i had offered the £8500 which they would be happy to accept.
i wrote back pointing out the ommissions and twisting of the facts.
Having received a few phone calls I also instructed them to correspond by letter only if they werent prepared to back up anything said verbally.
The letters and calls ceased until a recent call from a representative who claimed not to know about the no calls instruction.
I also asked for the CCA. Nothing arrived in 12 plus 2 days. A copy of the signed agreement arrived just before 30 days. The statement was much later at my prompting, the T&Cs have never arrived.
During this last call a request for us to negotiate on monthly repayments was made and a letter followed to this end.
this is where we are now and I dont know the next move to make.
Any advice?
Thanks in advance

[Never-In-Doubt]

Re: Link Financial

Bugger. I was so hoping they said it in writing.

Ok do you have the cca and accompanying letter/terms? Can you email please so I can check - agreements@all-about-debt.co.uk

[PlanB]

Re: Link Financial

pps that nonsense about being homeowners. Is this in writing?

Just noticed this. Please tell me they said that in writing? If so we'll throw the book at em. I think however this was told verbally as it's a direct breach of oft guidelines on debt collection. Basically, it is utter nonsense. If you want to make monthly payments then do so directly into their account. They can't do a thing!!.

Niddy, what difference would it make if the homeowner threat had been made in writing? I'm a homeowner (well mortgage owner to be precise) and I'd like to know exactly which book I would throw at any DCA who implied I should sell up and pay up.

[Never-In-Doubt]

Re: Link Financial

Niddy, what difference would it make if the homeowner threat had been made in writing? I'm a homeowner (well mortgage owner to be precise) and I'd like to know exactly which book I would throw at any DCA who implied I should sell up and pay up.

Nobody will ever say such nonsense in writing so you'll never need it

Worry about things that are happening, not such things that aren't - basically a lender cannot refuse monthly installments - irrespective! The fact you are homeowners means bugger all, you could own 50 homes and still make monthly contributions so long as one of the creditos didn't attempt anything more sinister like BR etc....

Don't worry, it'll never happen so pointless going into detail.

[PlanB]

Re: Link Financial

Nobody will ever say such nonsense in writing so you'll never need it

Worry about things that are happening, not such things that aren't - basically a lender cannot refuse monthly installments - irrespective! The fact you are homeowners means bugger all, you could own 50 homes and still make monthly contributions so long as one of the creditos didn't attempt anything more sinister like BR etc....

Don't worry, it'll never happen so pointless going into detail.

Well that's a relief! I suppose I'm thinking that creditors might decide it's worth a punt on a CCJ so that they could get a charging order if they know I'm a homeowner. Equifax now include Land Registry details on my report including price paid etc. They say they can because that information is already in the public domain. Excuses excuses . . .

[CleverClogs (RIP)]

Re: Link Financial

Equifax now include Land Registry details on my report including price paid etc. They say they can because that information is already in the public domain. Excuses excuses . . .

And also bollocks, as not only is there no concept in English Law as "in the public domain" - the expression comes from the American colonies - but the compilation of data is copyright of the Land Registry.

I doubt that they'd have such data about my house, anyway, as it was last sold in 1975.

[Never-In-Doubt]

Re: Link Financial

Well that's a relief! I suppose I'm thinking that creditors might decide it's worth a punt on a CCJ so that they could get a charging order if they know I'm a homeowner. Equifax now include Land Registry details on my report including price paid etc. They say they can because that information is already in the public domain. Excuses excuses . . .

They'd not use Equifax for this, most DCA's actively search the Land Registry & also Trust Online - CCJs, court orders & fines - Search yourself and others - Trust Online - to see if debtors own their home and also how many CCJ's they already have....