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Hi all, I came across this site googling a company called asset link capital 5, they have taken over my Barclay cc debt and I wasn't sure if it was a [problem] or not. I've read through a lot of posts and I'm intrigued and excited about the potential. Currently I am paying Gregory Pennington £183 per month(£38.50 in fees) £144.50 split between 3 creditors for the following amounts. The Dmp started mid 2014 Barclaycard Services £6,744.23 PRA Group (UK) Limited - Bromley £7,174.96 SCL Collections £4,413.73 I've just had a letter from ALC5 saying they have appointed link financial outsourcing to service my account, it had an accompanying Barclay letter of confirmation. My main question was around servicing the debt myself thus saving on the fees. From reading other posts I can see there is a process first regarding sending CCA and SAR. I'm not exactly sure what these are, I get the main gist that I'm trying to establish whether the debt is enforceable or not. I'm unsure of the process. Do I stop paying the DMC immediately and inform them I'm sorting myself? And is it the DMC I send the CCA/SAR too or the original creditors? Also the ALC5 letter, does this mean Barclay have sold my debt to them? Sorry for so many questions in my first post.
Hi Guys, Just checking something out and was looking for clarification. On my Equifax report, it states that an overdraft I had with HBOS. First late date payment was July 2011, then subsequent months late and then shows as defaulted in January 2012. I'm assuming as it shows, this means no payment since June 2011. The debt appears to have then been sold to Arrow Global as they have listed the default on Equifax in January 2012. I have never once communicated with Arrow Global on this. I obviously haven't made any payments to HBOS regarding this. Today I received a letter from shoosmiths asking for payment or even a partial payment to clear the entire amount in full and final settlement. It looks like to me they are clutching at straws and this will become statute barred as of June 2017. Can you confirm if I am correct? Thanks
Goodafternoon Was wondering if anyone could offer some clarification I have had several bank loans of which I defaulted, they are all now in the hands of a debt collection agency which have been now for many years. They have bought the debt. I would like to make a complaint about ppi on these loans by contacting the banks. I believe due to the DCA purchasing the debt, in effect the bank sees these loans as paid? Or will the lenders take the redress and use it on any losses? Or wil the redress come direct to me as opposed to the 3rd party (dca)* Has anyone been in the same situ as myself, and what was the outcome? Thanks very much in advance.