urgent help with link needed

[sowerby17]

Hi all had a car poan with ge money and it was due to finish last may but due to a drop in income i could not pay what they wanted when they wanted it so they have now sold the debt to link financial who are wanting the whole amount at once£378 or they are taking me to court. Any one any suggestions. they are ringing me today.

[Pinky69]

If you must speak to them -and the golden rule is not to but tell them to put everything in writing - tell them you are paying all you can afford. If they threaten you with court, tell them to carry on because no court would ask you to pay more than you can afford and if that is supposed to worry you, it doesn't - then hang up. My guess is that they won't go anywhere near a court - it just part of their bullying tactics.

[sowerby17]

hi pinky thought that as it was a car poan it could be reposessed?

[Pinky69]

A car cannot be repossessed if you have paid one-third of loan. If they even attempt it, call the police.

[sowerby17]

thanks for that i did not know.

[sowerby17]

can they persue through the courts? i wanted to offer a pyments plan type of thing but they say they want the whole thing at once.Is this unreasonable?

[djdave]

If they've got an enforcable agreement they can (and will) pursue it through the courts, but the OFT and the courts themselves will take a dim view if they've not given you a reasonable chance to come to an arrangement.

 

I'd advise NEVER speaking to Link on the phone (not saying they're a bunch of bankers, but.... ), rather write to them with a proposal for a repayment which you can genuinely afford. Don't leave yourself short, and don't over stretch yourself just to keep them happy.

 

Chances are they'll accept - and you'll have the letters to prove it. The OFT's guidance on debt collection says in 2.6.f that it is unreasonable to pressure debtors to pay in full or in unreasonably large amounts when they cannot afford to do so - Link should be aware of this advice.

 

If they phone, politely but firmly tell them that there's a letter on the way and that you will not be dealing with them by phone. If they continue to ring, just hang up on them.