Another Thread re help regarding Link Financial

[stoney47]

it would probably help if you sent off a subject access request to fnb/ge money and to link as well.you will find a template for this in the library section,which you can access at the top of the page.i meant to ask have you got the original particulars of claim.

is that correct? that you took the loan out in 1977

[Christena]

Sorry

 

Should have typed 1997 not 1977.

 

Yes, I do have the original particulars of the claim:

The Defendents are indebted to the Claimant under the the terms of an original agreement dated 19/06/97 regulated by the Consumer Credit Act 1974. The agreement provided that interest would be payable before and after Judgement. The right to proceed for subsequent interest is reserved. Default occurred in payment and the loan was called in under S.87 of the said Act.

 

Husband of Christena

[stoney47]

as far as i understand, the sentence were it says "the right to proceed for subsequent interest is reserved" means that they would have to go back to court to get a judgement for interest.the amount you owe at the moment is the original judgement amount less any payments. the statements you get are the figures they use for their accounting

do you understand about sending off a sar

regards stoney47

[Christena]

Thanks Stoney

 

Your help is much appreciated

 

I have visited the library and have adapted 2 SAR templates to send to Link & FNB, will take them to the post office in the morning.

 

I must say that I am very apprehensive about testing the water so to speak, but better to be on the offensive than just waiting for something to happen.

 

Some 10 to 15 years ago we just caved in, and as this is the last of our unpaid debts from this era, and with the Internet and the help on this site I find inspiration to fight on.

 

Husband of Christena

[stoney47]

husband of christena

i am glad to be of assistance ,please do not worry about sending off your sar requests, it should not stir things up for you with either company.

i am currently having fun and games with ge and link and joining cag and doing a lot of reading has helped with me dealing with these people.

the way i see it,if you can reclaim missold ppi,you would possibly have a reasonable amount to help you clear your debt.

regards Stoney47

[Christena]

Yeah Stoney

 

When I read details of the SAR I noticed the part about PPI and, if they still are holding details (after all this time ?) I may get a copy, and although it may be a bit late in the day, if our loan account had not been credited during this time then why had I paid for insurance in the first place.

 

Guess I'll find out in 40 days.

 

Husband of Christena

[stoney47]

when did you last have dealings with ge money

[Christena]

Hi Stoney

 

Was a bit knackered last night, takes it out of you a bit this form filling thing !

 

Well, the last time i made a payment to FNB was back in April 2005, after that to Link - can't find the NOA but am sure I received It.

 

Funny enough I can still remember my thoughts when reading the CCJ. "You must pay the claimant a total of £XXXX.XX by instalments of £1.00 per month" Wow I thought I'll only be 500 odd years old when i've paid it off !!

 

TBH it was a relief, considering I had the following to pay off:

Natwest loan & overdraft £15,000

Natwest credit cards £3,000

C L Finance CCJ £500

Tax Man £3,000 plus.

 

Today I am left with this 1 debt only - Link

 

Surely these banks would realise that a creditor can only pay what they can, and do.

 

The majority of people are finacially aware of what they spend & borrow and don't take it lightly when their income is reduced by forces outside of their control.

 

Hence the use of DCA's IMO is utterly immoral.

 

Husband of Christena

[Christena]

Whilst on the computer I also would like to add the following comments regarding our banks:

 

In 2002 I was advised to set up a limited company bank account for tax purposes. I tried a lot of the high street banks - to no avail - credit rating shot. I was left with 1 bank, you guessed it, Natwest.

 

I could not believe it - they said YES.

 

In 2007 I looked for a mortgage as we had been living in rented property for 8 years.

 

I could not believe it - FNB/GE said YES.

 

Funny old world.

 

Husband of Christena

[stoney47]

husband of christena

i fully agree with your comments,most people do not get into debt for the fun of it.a bit more understanding from dca,s would go a long way

In my case i,ll be debt free in 910 years!!!!!!!!!!!!!!!!!!!! better keep taking the vitamins!!!!!!!!!!!

there are lots of good people on here and just by reading their experiences has dramatically increased my faith in my own abilities to deal with these organisations,even if it is not the right result at the end of it

regards Stoney47

[Christena]

Hi Stoney

 

Well, we are all supposed to be living longer these days !

 

Reading on another thread I gather all debts sold to Link from FNB/GE have a clause saying they can charge interest even after a CCJ/IVA/debt payment plan has been put in place. But Link say if you phone them they may be able to reduce the interest - fat chance me phoning them - had enough with Triton acting for Natwest.

 

Husband of Christena

 

PS SAR letters now in post

[Christena]

Update to this thread.

 

SAR's from GE (90 pages) and Link (18 pages) received.

 

Also, wrote to my MP - he has replied saying he has written to the Office of Fair Trading and will contact me when he receives a reply.

 

Link have charged me a "admin fee" of £5.00 for the SAR on top of the £10.00 payment I have made, is this not classed as vexatious ! SAR shows monthly interest being added on top of over £4,000.00 interest added for the period up to 01/08/2004 from the court date. Wow, wish I could create money like this ! They didn't even own the debt until 2005. In fact, they only registered the ownership of the debt with the court in January this year.

 

GE say they sold the debt to Link in August 2005, but I was paying to Link in May 2005 - Admin error ??

 

I have drafted a letter to send to GE asking to refund the PPI plus contractual interest.

 

Also, I have drafted a letter for Link headed "Formal Letter of Complaint" due to mis-sold PPI on the original loan.

 

What I would like to add but would welcome comments, is that if GE do not refund the PPI I will claim of Link the sum of the PPI plus contractual interest which when calculated from the original loan date up to present would equate to the sum of some £13,000.00

 

I know that the chances of Link off-setting this against the debt would be slim but it would make me feel a lot better ! or am I loosing my common sense?

 

Since the SAR from Link says the next review date is February 2012 I don't want to start a letter tennis war with them.

 

Husband of Christena

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