Thread: Asset Link capital v me

I hae already done a thread on this in the General Knowledge area but think I should have done a thread here instead.

I bought a c ar in Jan 2005. i had a lot of problems financially and missed some payments on the car and had millions of phone calls from GE Cap. I just got paid out by First Direct and thought yeh I can get my payments up to date. Phoned GE and they said that they had passed the debt on to a debt collection agency called Asset Link.

Got letter from Asset Link today, phoned them offering payment and was turned down.

Letter is as follows:

SALE OF YOUR DEBT PER-MOT-PLUS 32282238786

Vehicle Description xxxxxxxxxx Vehicle Registrationxxxxxx

We Asset Link Capital(No1) Limited ("ALC") hereby gie you notice or intimation that effective 3 October 2006 GE Capital Bank Limited (t/a GE Woodchester) assigned to us the benefit of the debt that owe them under an agreement with the reference number set our above ("your debt"). We have appointed LINK Financial Limited ("Link Financial") to administer and recover you Debt on our behalf.

As a result of heis assignment your Debt is now owed to us, ALC, and any payments should be made to "Asset Link Capital (No 1) Limited", at the address above. Please ensure that you quote the reference number as shown when remitting payment.

As a result of this assignment, the debt due and owing by you should now be paid to the benefit of Asset Link Capital (No 1) Limited and you should forward payment to the above PO Box address for the attention of Link Financial. No more payments should be made to GE Capital Bank or GE Woodchester and any payment made by you to them will take significantly longer to process on to your account. During such time additional recovery action may be taken by us. Please ensure that you quote the reference number as shown above when remitting payment.

The outstanding balance on your account is £xxxxxxxx

WHAT YOU SHOULD DO NOW

If we do not receive full paymenmt of the debt and all contractual interest due under the contract with in the following 7 days we may choose to pass your account to a Debt Collection Agent or a Solicitor, without further reference to yourself

We may take Legal Action against you to:
eitherRECOVER THE VEHICLE for sale at auction(uyou will be fuly liable for any short fall): or
recoiver the full balance outstanding by enforcement of a JUDGEMENT on an ASSET or PROPERTY you may own, or
instruct bailiffs to seize goods up to the value of the debt

If we issue legal proceedings against you we will charge you an administration fee, which will be added to the balance of your account and you will be liable for any recoverable costs incurred.
Please contact an Account Officer at Link Financial on 02077932699 if you hae any queries in relation to the contents of this letter or to arrange repayment of the account.

I phoned them, they would not accept a payment to bring the payments up to date and will not let me enter into a payment plan to pay the amopunt. They havew given me to the 16 Oct to come up with the £8grand, or they will take further action

They said they did not want the car because it is damaged. My son rolled it and the insurance company did not want to know because they said he was not covered. Another issue.

Do I contact them and send them the letter CCA that is being mentioned. I realy do not know what to do and would appreciate some advice. I have spent four hours now on this site and still none the wiser. I dont contest the fact that I owe the money, more confused why they would not let me start payments again. Should I write to them and what should I say, did I do wrong by calling them?

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Hi, does anyone have these Asset Link Capital ppl's phone number?

Please help!

Many thanks for your response...

I spoke with these ppl yesterday as I had a first national loan secured on my house for double glazing. I sold in December and should have been cleared with my solicitor... It happens that it was over looked and the debt was sold to ALC in march!!!

The gentleman I spoke to was very helpful and I cleared the remaining 3k but with intrest, which they could not waver, so in total was 3.6k. I have been promised a letter confirming this settlement within 48 hours... I will let you know if i receive this! Anyway I think this is sorted now so many thanks again.