Jump to content


Link Financial


adelemichele
 Share

style="text-align: center;">  

Thread Locked

because no one has posted on it for the last 3853 days.

If you need to add something to this thread then

 

Please click the "Report " link

 

at the bottom of one of the posts.

 

If you want to post a new story then

Please

Start your own new thread

That way you will attract more attention to your story and get more visitors and more help 

 

Thanks

Recommended Posts

Hi

 

In 1992 (18 years ago) my Dad took out a credit agreement with First National. Unfortunately he

found it difficult to make the payments and it was taken to court, an 'Order by Consent' (not sure if this is a CCJ) was made and the court ordered him to pay a reduced amount of £1,736.32 (includive of costs) by instalments of £15 per month for 18 months and then to be reviewed. The court order is dated 09/09/96.

 

My Father paid £15 per month, increasing this to £20 per month (in the last year) for 9 years. This order/agreement was never reviewed by First National. He never received throughout the 9 years any statments/balances owing. In May 2005 believing he may have settled the debt, wrote to First National, asking for confirmation that the debt was satisfied. He did not receive a reply.

 

He then stopped making further payments and in 2009 he received a letter from Asset Link, this has now been transferred over to Link Financial (one of the same I presume), botton line is that they sent a statement showing he owed in excess of £21,000 (extorionate interest) but would accept a settlement of just over £4,000.

 

I have written to them and asked for, copy of the court order, original credit agreement, statements from First National, default notices and deeds of assignment. I have received a copy of the credit agreement only.

There is no dispute that he did have a credit agreement. The dispute is whether this has been satisfied.

He held the belief that it was.

We have postal orders showing most of the debt was paid, some have been misplaced.

 

My Mother thinks they may have owed about £90 and has stupidly confirmed this in a letter.

 

Is there anything we can do? My Father had major heart surgery this year and suffered a cardiac arrest, he is still recovering, I am afraid this will give him a heart attack.

 

Incidentally, my parents have lived at this address for over 20 years, so its no excuse they couldn't have resolved this sooner.

 

Any advice would be much appreciated.

 

Thanks

Link to post
Share on other sites

so when was his last payment

 

dx

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

Link to post
Share on other sites

Moved to Debt Collection Forum

Anthrax alert at debt collectors caused by box of doughnuts

 

Make sure you do not post anything which identifies you. Although we can remove certain things from the site unless it's done in a timely manner everything you post will appear in Google cache & we do not have any control over that.

 

Vir prudens non contra ventum mingit

 

[sIGPIC][/sIGPIC]

17 Port & Maritime Regiment RCT

Link to post
Share on other sites

OK, firstly I think it would be ok to presume that your Mother wrote that letter 'under duress' so it is not automatically and admission.

 

Am I correct that nothing has been paid since 2007?

 

Personally, I would totally ignore them, open their letters as they arrive and only take notice if and that is a very big if they threatend Court Proceeding.

 

I am also fairly sure, that, having said that, as there is already a Judgement in place, they cannot issue further CCJs, and in any event, it would be the Original Creditor that would now have to take up the sword to try and enforce the CCJ. A judge would be extremely unlikely to allow this given the period the OC has been 'inactive' on this Account.

 

Others will be along but hopefully their advise will be similar.

 

Please tell you parents not to worry, keep on here for advice as things move (or not) along.

  • Confused 1

Every journey begins with a single step :):)

 

Please note: I have no qualifications in this area - my advice is learned from the wonderful members of this Forum. Thanks to you all for your help.

 

If you have found my post helpful please leave a short message by clicking the star to the left of my profile - Thank You

 

The only person entitled to your Personal Finance details is a Judge not a DCA

 

Move all banking activity to another banking group if you have a dispute - your funds can be used to offset debts within the same group.

Be careful with Banking details (card/account numbers) as these can be used to take unauthorised payments.

Link to post
Share on other sites

It doesn't matter whether she admitted the debt or not if she isn't the debtor.

Anthrax alert at debt collectors caused by box of doughnuts

 

Make sure you do not post anything which identifies you. Although we can remove certain things from the site unless it's done in a timely manner everything you post will appear in Google cache & we do not have any control over that.

 

Vir prudens non contra ventum mingit

 

[sIGPIC][/sIGPIC]

17 Port & Maritime Regiment RCT

Link to post
Share on other sites

so when was his last payment

 

dx

 

His last payment was April 2005. He has just received a letter headed 'YOU HAVE BEEN SERVED A NOTICE' Asking him to call them, otherwise they will take court action.

They quote Section 136 of the Law of Property Act 1925, whatever that is.

 

He is very worried

Link to post
Share on other sites

They quote Section 136 of the Law of Property Act 1925, whatever that is.
It's legal speak for they have been assigned the alleged debt.

Anthrax alert at debt collectors caused by box of doughnuts

 

Make sure you do not post anything which identifies you. Although we can remove certain things from the site unless it's done in a timely manner everything you post will appear in Google cache & we do not have any control over that.

 

Vir prudens non contra ventum mingit

 

[sIGPIC][/sIGPIC]

17 Port & Maritime Regiment RCT

Link to post
Share on other sites

Are they legally bound to provide evidence that they have been assigned. I asked for the 'deeds of assignment' in January 2010, they havn't provided this. I also asked for statements and default notices issued by First National. I sent a £1 postal order. All they have sent is a copy of the credit agreement dated 1992. My Dad never received a thing from First National for the 9 years

from 1996 to 2005, the only thing he received from First National was a notification in Oct 2003 that they were changing their name.

Link to post
Share on other sites

A 'Consent Order' is an agreement drawn up by a solicitor/court which sets out the agreement reached between you and the OC. If the terms of that order were him to pay a reduced amount of £1,736.32 (inclusive of costs) by installments of £15 per month for 18 months and then to be reviewed then nothing can change that... other than the court itself... & they certainly cannot add interest & charges on to it. Have you worked out the total payments made? Because given the length of time it is likely that they in fact owe him money.

Anthrax alert at debt collectors caused by box of doughnuts

 

Make sure you do not post anything which identifies you. Although we can remove certain things from the site unless it's done in a timely manner everything you post will appear in Google cache & we do not have any control over that.

 

Vir prudens non contra ventum mingit

 

[sIGPIC][/sIGPIC]

17 Port & Maritime Regiment RCT

Link to post
Share on other sites

The most Link can do is apply to the court to enforce the original consent order, they cannot apply for a CCJ because the Consent Order in effect rewrote the original agreement, besides it would be Statute Barred anyway.

 

As I said above, given the length of time and the monies paid this should have been put to bed years ago.

Anthrax alert at debt collectors caused by box of doughnuts

 

Make sure you do not post anything which identifies you. Although we can remove certain things from the site unless it's done in a timely manner everything you post will appear in Google cache & we do not have any control over that.

 

Vir prudens non contra ventum mingit

 

[sIGPIC][/sIGPIC]

17 Port & Maritime Regiment RCT

Link to post
Share on other sites

Because of the length of time, he only has receipts showing he has paid about £1490, about a £250 shortfall. They can't find any more. Mum thought they might of been £90 short, but we can't prove this now.

 

The statement written by Link shows interest was being charged from 1996 when the court order was made. He paid £15 per month as agreed with the court until April 2005, when they wrote to First National for an up to date balance but never received any response, so assumed it must be settled by now, having made payments for 9 years.

 

According to Link's statement he owed £7527.79 in April 2005. They could not realistically pay this off. The interest payments were higher than their payments.

 

Link have continued to add interest up to Sept 2009, some 4 years after they ceased payment, resulting in a £21,000 final balance but are asking for £4,075, as a settlement if they are doing him a favour.

 

I'm not sure why First National did not review this as instructed by the court order after 18 months, but after 9 years I think it perfectly reasonable to expect the debt to be paid. They have been threatening court action on an off for about a year and he hasn't received a court summons.

 

This latest letter YOU HAVE BEEN SERVED A NOTICE' do you think he should respond. Should we offer the £90 to see if this can bring the matter to a close

 

I really appreciate all you help, thank you so much

Link to post
Share on other sites

payment not contact can only reset the 6yrs

 

if anyone is offering a 'discount' then that means one thing:

they cannot enforce the order or CCA and the claim is a bogus fleecing exercise.

 

ignore them

 

£4k for a £21k debt!!

 

dx

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

Link to post
Share on other sites

Does your mother still have a copy of the Consent Order, if so is there any mention of interest? If not they cannot add any.

Anthrax alert at debt collectors caused by box of doughnuts

 

Make sure you do not post anything which identifies you. Although we can remove certain things from the site unless it's done in a timely manner everything you post will appear in Google cache & we do not have any control over that.

 

Vir prudens non contra ventum mingit

 

[sIGPIC][/sIGPIC]

17 Port & Maritime Regiment RCT

Link to post
Share on other sites

Yes, she still has the court order which reads:-

It is ordered that

All further proceedings in this action be stayed upon the terms set out in the schedule hereto and the parties be a liberty to apply for the purpose of putting the said terms into effect.

 

The Schedule

1. The judgement dated 20/01/1994 be varied in that the Defendant pay a reduced amount of £1,736.32 (inclusive of costs) by instalments of £15 for a period of 18 months thereafter to be reviewed. The first instalment to commence one month after the date of this Order.

 

2. In consideration of the Plaintiff accepting the reduced amount referred to above, the terms of the above Order will be in full and final settlement of all and any claim between the parties arising out of these proceedings and in respect of account number XXXXXX and trust the terms do constitute full and final settlement of any liabilities under Section 56 and 75 of the Consumer Credit Act 1974.

 

Dated 09th September 1996.

 

Not sure if this means that they can charge interest?

Link to post
Share on other sites

Well you have it in black & white, there is no mention of Statutory Interest.

 

You can either ignore them or write back enclosing a copy of that order telling them that the a/c is settled unless they can prove otherwise.

Anthrax alert at debt collectors caused by box of doughnuts

 

Make sure you do not post anything which identifies you. Although we can remove certain things from the site unless it's done in a timely manner everything you post will appear in Google cache & we do not have any control over that.

 

Vir prudens non contra ventum mingit

 

[sIGPIC][/sIGPIC]

17 Port & Maritime Regiment RCT

Link to post
Share on other sites

If you send them a copy you will be proving to them that you have irrefutable evidence to defend any action they're stupid enough to bring. Besides, in the event it ever went to court it will show in your favour when it comes to your application for damages for vexatious litigation + costs. :)

Edited by cerberusalert

Anthrax alert at debt collectors caused by box of doughnuts

 

Make sure you do not post anything which identifies you. Although we can remove certain things from the site unless it's done in a timely manner everything you post will appear in Google cache & we do not have any control over that.

 

Vir prudens non contra ventum mingit

 

[sIGPIC][/sIGPIC]

17 Port & Maritime Regiment RCT

Link to post
Share on other sites

have you a copy of the original agreement par chance?

or do you know if it had unlawful charges levied agaibst him

or p'haps PPI?

 

cause if you can find those out, then he will be in for a BIG windfall on an A/C that age.

 

dx

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

Link to post
Share on other sites

It looks as if Link are working on the original judgement & not taking into account the later 'Order of Variation', they haven't a snowball's chance.

Anthrax alert at debt collectors caused by box of doughnuts

 

Make sure you do not post anything which identifies you. Although we can remove certain things from the site unless it's done in a timely manner everything you post will appear in Google cache & we do not have any control over that.

 

Vir prudens non contra ventum mingit

 

[sIGPIC][/sIGPIC]

17 Port & Maritime Regiment RCT

Link to post
Share on other sites

The credit agreement signed in 1992 was £2593.82 This included protected payments premiums. The interest is shown at 30% APR over 120 months. (2.19% per month)

 

After interest he was only paying about £10 off each month of the actual debt. I suppose thats why the courts re-adjusted the amount in which he had to pay.

 

I don't know if the above charges/interest was lawful.

Link to post
Share on other sites

I hope that is the case, I am sending them a copy of the court order and am hoping that they will then back off and leave him alone, but they are very persistent. My worry is that they will sell it on again and the whole thing will start up again.

 

Thanks for your re-assurance. x

Link to post
Share on other sites

 Share

  • Recently Browsing   0 Caggers

    • No registered users viewing this page.

  • Have we helped you ...?


×
×
  • Create New...