Advice requested on Link Financial

[OnSkidRow]

Hello all, I've been reading the forum for a while, and have found the information on it incredibly helpful in getting the threat monkeys off my back, and have recently CCAd Link. My situation, is that I have been signed off with depression for nearly a year, and in that time, my only income has been benefit money, almost all of which, is swallowed by my basic housekeeping expences (leaving me with about £10 a month)

I CCAd Link, and only received one phonecall about a week after the request was sent. I reminded them that I was still waiting on the CCA, and hung up. A few days ago, I received a letter from them (Not as threatening as usual, but still irritating/funny, depending on your point of view...) stating that they I had not responded to messages, and needed to explain my position as to why I could not settle the balance in full (which of course, I have already done on numerous occasions) I was going to write a letter to them acknowledging that letter, (are they allowed to write to people within the 12 day period with such a request?) but wanted to give them the 12 days to go into default (today) which I believe they have done. However, today, I received the following letter (dated as 21/8/09, so within the 12 day period) from them, and would like some advice on how best to proceed...

 

Dear (me)

 

You have recently made a request under Section 77/78 for copies of various documents.

 

As you are aware, LINK FINANCIAL purchased your debt from MBNA EUROP BANK LIMITED on 20 July 2007 and as such we do not always hold this documentation. We have requested a copy of the agreement and the most recent terms and conditions your account was operated under from MBNA EUROPE BANK LIMITED and look forward to sending this to you in the near future, however please be advised that this can take up to 30 days to provide.

 

Yours sincerely

 

(Hand signed initials)

 

Link Financial Limited

 

 

Okay, so what's the deal here, are they actually in default or not? On a technicality, I didn't know that they had purchased the debt, I simply thought they were MBNA's threat monkeys. Also, as they do not have the CCA, does that mean that they were not entitled to pursue the debt, or do I have to grant them the 30 days mentioned in the letter?

 

I was going to write to them, and if need be, simply ask them to write off the debt, but thought best to seek some clarification first. Would it matter if I was to ask them to write off the debt, and if rejected, then offer a token sum of £1 a month, or, would it be better to offer the token sum of £1, let that get refused, and then ask them to write off the debt? Had the letters been demands for payment, then I would have reported them to the OFT and FOS as harassing someone for money, which they know they cannot afford to pay due to ill health, and trying to get some compo out of them (or at least get the debt wiped) but I thought their letter today might change that... Thanks in advance

[oneofakind]

Hi OSR,

Do nothing yet. At the moment, they can rectify their default by producing the CCA. Let them have their 30 days.

 

Don't offer ANYTHING until you know what (if any) proof of debt they have.

 

If they have actually purchased the alleged debt, then you should have been sent a 'Notice of Assignment' from MBNA, and a 'welcome' letter from Link.

 

You've put the ball in their court at the moment, so do nothing. And remember, NEVER speak to them on the phone!

 

D.

[vint1954]

Hello all, I've been reading the forum for a while, and have found the information on it incredibly helpful in getting the threat monkeys off my back, and have recently CCAd Link. My situation, is that I have been signed off with depression for nearly a year, and in that time, my only income has been benefit money, almost all of which, is swallowed by my basic housekeeping expences (leaving me with about £10 a month)

I CCAd Link, and only received one phonecall about a week after the request was sent. I reminded them that I was still waiting on the CCA, and hung up. A few days ago, I received a letter from them (Not as threatening as usual, but still irritating/funny, depending on your point of view...) stating that they I had not responded to messages, and needed to explain my position as to why I could not settle the balance in full (which of course, I have already done on numerous occasions) I was going to write a letter to them acknowledging that letter, (are they allowed to write to people within the 12 day period with such a request?) but wanted to give them the 12 days to go into default (today) which I believe they have done. However, today, I received the following letter (dated as 21/8/09, so within the 12 day period) from them, and would like some advice on how best to proceed...

 

Dear (me)

 

You have recently made a request under Section 77/78 for copies of various documents.

 

As you are aware, LINK FINANCIAL purchased your debt from MBNA EUROP BANK LIMITED on 20 July 2007 and as such we do not always hold this documentation. We have requested a copy of the agreement and the most recent terms and conditions your account was operated under from MBNA EUROPE BANK LIMITED and look forward to sending this to you in the near future, however please be advised that this can take up to 30 days to provide.

 

Yours sincerely

 

(Hand signed initials)

 

Link Financial Limited

 

 

Okay, so what's the deal here, are they actually in default or not? On a technicality, I didn't know that they had purchased the debt, I simply thought they were MBNA's threat monkeys. Also, as they do not have the CCA, does that mean that they were not entitled to pursue the debt, or do I have to grant them the 30 days mentioned in the letter?

 

I was going to write to them, and if need be, simply ask them to write off the debt, but thought best to seek some clarification first. Would it matter if I was to ask them to write off the debt, and if rejected, then offer a token sum of £1 a month, or, would it be better to offer the token sum of £1, let that get refused, and then ask them to write off the debt? Had the letters been demands for payment, then I would have reported them to the OFT and FOS as harassing someone for money, which they know they cannot afford to pay due to ill health, and trying to get some compo out of them (or at least get the debt wiped) but I thought their letter today might change that... Thanks in advance

They are allowed 14 working days in total to respond. Under the new regulations the period of 30 days additional grace has dissapeared. They will usually say in this letter that they are suspending the account while they obtain the documents.

 

As Oneofakind advises, do nothing until you hear from them again and do not offer anything. It is not unreasonable to allow them additional time if they have to get the document from MBNA ( some hope )

 

Link will probably find that they have purchased an unenforcable account.

 

Have a look at this and similar threads, if you suffer from long term depression.

http://www.consumeractiongroup.co.uk/forum/debt-collection-industry/212898-re-writing-off-unsecured.html

 

Vint

[oneofakind]

Under the new regulations the period of 30 days additional grace has dissapeared.

 

Does that apply to agreements taken out under the 1974 Act?

[vint1954]

Does that apply to agreements taken out under the 1974 Act?

Yes, I beleive that it applies to all agreements now.

[Seminole]

Yes, I beleive that it applies to all agreements now.

 

Have they also dropped the bit about failing to respond to a CCA request being a criminal offence?

[OnSkidRow]

Hi OSR,

Do nothing yet. At the moment, they can rectify their default by producing the CCA. Let them have their 30 days.

 

Don't offer ANYTHING until you know what (if any) proof of debt they have.

 

If they have actually purchased the alleged debt, then you should have been sent a 'Notice of Assignment' from MBNA, and a 'welcome' letter from Link.

 

You've put the ball in their court at the moment, so do nothing. And remember, NEVER speak to them on the phone!

 

D.

Thanks for the advice This was what I thought, give them the chance to come up with anything and go from there. I've never disputed the validity of the debt, simply that my circumstances prevent me from making payments (well, I could probably scrape together a £1 but even that would be difficult) but do you think that given my circumstances I would have much luck with getting the debt written off? Also, if they've purchased the debt from MBNA, would it be worth writing to MBNA about my situation? I remember reading that creditors have to ensure that their threat monkeys still adhere to OFT guidelines, or risk losing their own licenses...

 

Indeed, I've stopped answering their calls (it was a different threat monkey company I got the other day, but I'll get do them in due time )

 

 

They are allowed 14 working days in total to respond. Under the new regulations the period of 30 days additional grace has dissapeared. They will usually say in this letter that they are suspending the account while they obtain the documents.

 

As Oneofakind advises, do nothing until you hear from them again and do not offer anything. It is not unreasonable to allow them additional time if they have to get the document from MBNA ( some hope )

 

Link will probably find that they have purchased an unenforcable account.

 

Have a look at this and similar threads, if you suffer from long term depression.

http://www.consumeractiongroup.co.uk/forum/debt-collection-industry/212898-re-writing-off-unsecured.html

 

Vint

 

 

Thanks for the additional feedback and the link, I'll give that a read and see if it might offer any further advice or solutions

[vint1954]

Have they also dropped the bit about failing to respond to a CCA request being a criminal offence?

Yes, the criminal offence has been removed now. Just 12+2 days and they are in default until agreement is supplied.