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Student Loan - Debt passed on to Link Financial


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I've been contacted by phone by Link Financial Outsourcing regarding my 4000 pound student loan.

 

Admittedly, I slipped up by not making sure that I kept up with the deferral - though I have never earned above the threshold.

 

I don't own any assets, aside from a battered old van and I'm unemployed and have absolutely no money to give them.

 

I don't have a permanent address - I'm at my parents at the moment.

 

I'm kind of worried that now they've got me at this address they'll just send round some debt collectors, who will then cart off a load of my parent's property! What are Link likely to do next? What are they allowed to do? And what should I do?

 

Thanks.

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dca 's have no legal powers

 

dont fall for their threat-o-grams

 

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... 

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no moog symplifier.......

but no link either,

it not to do with music..

 

anyhow.....

 

nothing will happen, how long has this been since you updated the system or had the loan?

 

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... 

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The loan was from 97/98.

 

Around 2000ish I had a dispute with the SLC after they took money from my bank account without warning. IIRC they claimed I had made an error in filling in the deferral form and hadn't provided all the info they asked for, something along those lines. Then I subsequently changed address a couple of time, with periods when I was NFA and I sort of lost track/forgot about the whole thing..

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^ Well, that would be nice, but sounds too good to be true.

 

That said, the letter I've received from Link says that,

 

'the loan agreement has been terminated by Thesis Servicing'

 

now I don't recall having any dealings with Thesis. Perhaps Thesis bought the debt from the SLC and, as/if the statue of limitations came into effect, sold the debt on to Link, who are now attempting to recover whatever money they can via scare tactics.

 

Well, that would be nice, if it were the case - but, like I say, sounds too good to be true!

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I can't be absolutely sure, but I think the last time I had any dealings with anyone regarding this was over 6 years ago - which, I guess, would put me beyond the statute of limitations cut off point?

 

If that's the case, what's my best strategy for dealing with Link?

 

Do I say 'nice try, but this is now beyond statutory cut off'. or do I just ignore them completely?

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Dear DCA

 

RE: xxxxxxxx

You have contacted us regarding the account with the above reference number, which you claim is owed by myself.

 

I would point out that under the Limitation Act 1980 Section 5 “an action founded on simple contract shall not be brought after the expiration of six years from the date on which the cause of action accrued.”

 

We would also point out that the OFT say under their debt collectionlink3.gif Guidance on statute barred debt that “it is unfair to pursue the debt if the debtor has heard nothing from the creditor during the relevant limitation period”.

 

Prior to recent payment I felt forced into making under duress the last payment of this alleged debt was made over six years ago and no further acknowledgement or payment had been made since that time. Unless you can provide evidence of payment or written contact from me in the relevant period under Section 5 of the Limitation Act, I suggest that you are no longer able to take any court action against us to recover the alleged amount claimed.

 

The OFT Debt Collection Guidance states further that “continuing to press for payment after a debtor has stated that they will not be paying a debt because it is statute barred could amount to harassment contrary to section 40 (1) of the Administration of Justice Act 1970”.

 

We await your written confirmation that this matter is now closed and that no further contact will be made concerning the above account after that last letter.

 

We look forward to your reply.

 

Yours faithfully

 

 

l

 

SEND THE ABOVE BY RECORDED DELIVERY TO LINK AND REALY MAKE THERE DAY:-)

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  • 1 month later...

Just thought I should give an update.

 

I sent the DCA (Link) a letter framed around postggj's template. That was about a month ago. I've just today got a letter from Link saying that they have reviewed the case with reference to Section 5 of Limitation Act etc... and the loan account is now cancelled, no further action will be taken!

Can't really believe it, but I'm pretty relieved to say the least!

 

Anyway thanks for all the help, esp. postggj!

 

Cheers!

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well dont think it will die there

 

all they'll do is fwd it on to the next leecher for a sum and mention nowt about the sb side.

 

but now you know.

 

ignore them whoever contacts you.

 

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... 

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very happy for you

 

just because the loan is statute barred does not mean the debt does not still exsist

 

it will prob be sold to the next bottom feeder like muck hall

 

it just means they cant enforce or trash your credit files

 

DID DX JUST SAY THAT

 

MUST BE GETTING OLD

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Just to let you know Thesis Servicing is LINK FINANCIAL

SLC handed over the management of a lot of student loans to Thesis a while back, esspecially ones that had been defered for years and those reaching the statue barred limit. You then get demands from LINK saying the debt is owned by thesis, when in fact they are the same compamy

 

They tried it on with me last year over a 1993/4/5 student loan, which had been defered for over 12 years, they tried to make me pay the full balance, but **** their own pot as they failed to notice my date of birth before making their idle threats, the month before their first letter the loans were writting off due to me reaching 50, which was one of the terms on the old type loans, so their little plan didn't work.

 

Pay them nothing, it statue barred

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Yes it had occurred that this might not be the very end of the matter - the main thing is it appears the debt was statute barred, so any one else daft enough to buy the 'debt' and pursue me for it can go whistle!

 

Thanks again everyone!

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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... 

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