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stanleymorgan

MBNA and Link - has the debt disappeared now it's been sold?

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After another reading of my love letter from Link Financial I notice that it says that Link are now the new owner of the alleged debt. I presume MBNA are no longer involved at all.

 

I read on 'another' forum that by buying the debt Link have effectively cleared it and it no longer exists as a debt owed by me, allegedly.

 

I'm sure this can't be correct but the people on this forum seem a little wiser so maybe you can advise this poor serf of his misunderstanding? :???:

 

Thanks

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No the debt still exists. If there has been a period of less than 6 years since the default, I suspect that Link will be adding their name to the default on your credit record shortly.

 

Do you know when you last made a payment towards this debt ? Has there been any CCJ granted ?

 

You should probably ask MBNA for an up to date statement of account at the point where the account was sold. DCA's have a habit of adding loads of interest to debts, as soon as they get their hands on them.


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The usual way of assigning the benefit of any debt or other legal thing in action under section 136 of the Law of Property Act 1925. Under that section, the basic requirements for a legal assignment are as follows:

 

  • Only the benefit of an agreement may be assigned.
  • The assignment must be absolute.
  • The rights to be assigned must be wholly ascertainable and must not relate to part only of a debt.
  • The assignment must be in writing and signed under hand by the assignor.
  • Notice of the assignment must be received by the other party or parties for the assignment to take effect.

 

 

So you could send Link a CCA request and ask to see the deed of assignment to prove that they are able to contact you about this account.


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There is no point in asking for the deed of assignment it will not be provided without a court order if an NOA has been received as it appears to have been there is nothing to query here.

Link must update the credit reference file with their data ina reasonable time, THE DEFAULT DATE MUST REMAIN THE SAME.

The prove it letter from the CAG Library can be sent to link.


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There is no point in asking for the deed of assignment it will not be provided without a court order if an NOA has been received as it appears to have been there is nothing to query here.

Link must update the credit reference file with their data ina reasonable time, THE DEFAULT DATE MUST REMAIN THE SAME.

The prove it letter from the CAG Library can be sent to link.

 

I don't have an NOA only a letter introducing me to Link. They state they have been assigned this account in 2007 but it was only received recently and I've had no previous letters.

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Ok best course of action, SAR to MBNA to get all the data on the account (any PPI?) statutory fee of £10 payable MBNA have 40 days to comply, address to the Data Controller and use recorded delivery and check the date received the 40 days starts then.

Also a CCA request to Link to see if they can produce an agreement stat fee of £1 payable Link have 12+2 working days to comply address to their Compliance Manager.

 

There are templates in the CAG library for you to use.

 

Good luck.


Any Letters I Draft are N0T approved by CAG and no personal liability is accepted.

Please Consider making a donation to keep this site running!

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I just thought I'd update this thread with the news that Instant Silver have now written offering a 40% reduction on a payment plan over 3 years for an alleged debt of £6400.00.

 

Clearly they must think I'm stupid enough to do that after maintaining complete radio silence for almost 6 years. :madgrin:

 

It's a lovely letter though, as in return for my payments they offer no telephone calls, no agent visits and no collection letters. Quite a deal. I might take two.

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PLEASE NOTE - I am not a legal expert, what is stated is my own opinion and from what I have learnt from this forum and my own experiences.

 

DEBT COLLECTION LETTER/SAR/AGREEMENT TEMPLATES ARE HERE - http://www.consumeractiongroup.co.uk/forum/content.php?65-legislation

 

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That it is Link in disguise.....


PLEASE NOTE - I am not a legal expert, what is stated is my own opinion and from what I have learnt from this forum and my own experiences.

 

DEBT COLLECTION LETTER/SAR/AGREEMENT TEMPLATES ARE HERE - http://www.consumeractiongroup.co.uk/forum/content.php?65-legislation

 

IF WE HAVE BEEN HELPFUL -PLEASE, PLEASE, PLEASE GIVE A DONATION TO HELP US TO CONTINUE HELPING YOU

 

I AM HAPPY TO RECEIVE PM's AND I WILL RESPOND IF I FEEL I CAN ASSIST BUT WHEN YOU DO CAN YOU PLEASE PROVIDE A LINK TO YOUR THREAD ON WHICH YOU WOULD LIKE ME TO COMMENT - THANK YOU

 

IMPORTANT - If you are sent a private message directing you for advice or support with your issues to another website,this is your choice.

Before you decide,consider the users here who have already offered help and support.

Private message facilities are offered for users to communicate issues that are/or could be seen to be inappropriate for posting on the main forum.Site rules explain this in more detail.

If you are approached by private message with a view to asking you to visit another website,please inform the site team via the report icon.

 

Forum rules - http://www.consumeractiongroup.co.uk/forum/forum-rules-please-read/9-forum-rules-please-read.html

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That it is Link in disguise.....

 

I knew that before I got the letter with "Instant Silver is a trading style of Link Chancers ..." :-)

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And another letter from Instant Silver has appeared offering a whopping 45% off. All I have to do is complete the direct debit form and they'll never call me on the number they don't have which isn't answered.

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Stanley did you get the SAR done?


Any Letters I Draft are N0T approved by CAG and no personal liability is accepted.

Please Consider making a donation to keep this site running!

Nemo Mortalium Omnibus Horis Sapit: Animo et Fide:

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