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I had a debt to Abbey National when I closed my account with them. About 60% of it was due to unfair bank charges. I disputed these charges and said that I was willing to pay what I owed, but I would not pay the charges. They threatened to take me to court, and I told them to go ahead, but instead they passed the debt to a collection agency who then wrote to me. When I explained to the debt agency what had happened, they passed the debt back to Abbey saying that they did not want anything to do with it. After a considerable period of time, I was contacted by Link Financial saying that they had bought the debt. Is there anything I can do to get them off my back?

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I had a debt to Abbey National when I closed my account with them. About 60% of it was due to unfair bank charges. I disputed these charges and said that I was willing to pay what I owed, but I would not pay the charges. They threatened to take me to court, and I told them to go ahead, but instead they passed the debt to a collection agency who then wrote to me. When I explained to the debt agency what had happened, they passed the debt back to Abbey saying that they did not want anything to do with it. After a considerable period of time, I was contacted by Link Financial saying that they had bought the debt. Is there anything I can do to get them off my back?

 

Read as much as you can in the relevant threads, and open up your own post, you will get all the assistance possible!:)

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Anthrax alert at debt collectors caused by box of doughnuts

 

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Well from what you have stated obviously the DCA has passed the account back to the OC for a valid reason i.e they can't possibly collect, although the buyers of the debt may think otherwise, stand your ground.

 

Regards

 

PB68.

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A lot of OC's have been buying back or 'chasing' their own debts.

As it is no longer economically viable for them to sell them on, although they are still paid out via there insurance for the amount in question:eek:

 

However, at the very least, if peter(bank) has lent you money and you can't pay him back, he then sells it to tom, (at a loss-6p in the £ ) tom asks you to pay him the "full" amount outstanding (he makes his profit)

Then (peter) buys the debt back, and asks you to pay the "full" amount, your position is strengthened by asking him if he will accept a full and final settlement offer to settle the debt;)

 

So if it does end up back with the OC, then you have a very good chance of paying them a reduced offer to to clear the debt!


Who ever heard of someone getting a job at the Jobcentre? The unemployed are sent there as penance for their sins, not to help them find work!

 

 

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