Link Financial / IDE Finance UK II Ltd sold BC Debt

[aaronoll]

Hi people -

i'm hoping somebody may be able to help me out with some advice.

 

I'm currently in a DMP with Stepchange and have been since 2011.

 

 

One of my debtors was Barclaycard.

 

I have today received a letter from Link Financial,

informing me that at the time the debt was sold to IDR Finance UK II Ltd,

 

 

I had agreed an informal repayment plan.

They have advised that although a default notice was issued by Barclaycard in 2012,

it was not followed up with a formal demand

and therefore it continued to be reported as "in arrears" to credit agencies.

 

They claim that "working with Barclaycard they have identified they have been reporting

inaccurate info about my account and are now correcting it".

 

They go on to say I can continue paying the previously agreed amount via stepchange,

however if there is no change to the amount then they will issue a default as from Feb 2015.

 

 

They have enclosed a formal demand with the letter,

which also states if a satisfactory agreement is not reached within 28 days the file we be reported as a default.

 

Now dont get me wrong I know have defaulted on the debt, and if the default was "backdated" to 2012,

I would have no issue as it is when i defaulted and I have others defaults around the same time.

 

 

My concern is that this is going to set me back 3 years in terms of getting a clean credit file

and I have worked damn hard to get back on track after having my initial problems.

I cant help but feel this is pure bully boy tactics.

 

Can anyone offer any advice?

 

Thanks

[fkofilee]

Wow.... Thats incredible. Barclayshark punching you right in the Stomach there.

Complain to them and then also refer to the ICO and FOS.

 

That is poor what they have done to you.

[dx100uk]

seems like this is a new ploy with lots of BC debtors

 

 

read this

 

 

http://www.consumeractiongroup.co.uk/forum/showthread.php?436940-Link-Bought-Four-Of-My-Barclaycards

 

 

dx

[dx100uk]

get a cca request off to Plink

 

 

dx

[SabreSheep]

http://www.consumeractiongroup.co.uk/forum/showthread.php?423713-Barclaycard-Link

 

Have a read above if you have had late payment charges and overlimit fees on the credit card.

 

As far as my case with link goes, I sent them a nice letter using COBS demanding to know if they had the orignal agreement or were attempting to get it. Or if they knew no original agreement existed. I reminded them silence is considered an act of omission and therefore await their reply. Funnily enough their letters ceased and they went quiet. Prob due ot the fact I also mentioned that to enforce IT I would need sight of the original document in court. I expect it to be sold on soon

[aaronoll]

thank you for your replies, will send off the CCA request firstly. Thank you for the links to the other threads, certainly make interesting reading. Will update you on the outcome asap.

[aaronoll]

Hi all,

 

 

I've just been looking at my credit file on noddle and

 

 

interestingly Barclaycard is now showing as a closed account and status "settled".

 

 

I cant see any trace of link on there, unless that will now appear soon as the account has been passed to them.

 

 

Am I right in saying that once this information is on my file then it would be impossible to default the account now anyway.

 

 

I'm presuming once the financial information has gone to settled then it couldnt be changed back or are they able to ask credit reference agencies to amend this?

[SabreSheep]

Hi all, I've just been looking at my credit file on noddle and interestingly Barclaycard is now showing as a closed account and status "settled". I cant see any trace of link on there, unless that will now appear soon as the account has been passed to them. Am I right in saying that once this information is on my file then it would be impossible to default the account now anyway. I'm presuming once the financial information has gone to settled then it couldnt be changed back or are they able to ask credit reference agencies to amend this?

 

they can ammend.

plus the debt may now reappear under links name instead

[aaronoll]

they can ammend.

plus the debt may now reappear under links name instead

 

Thanks for confirming that.

 

It states on their letter that the default will now show as from feb 2015,

is this not classed as having incorrect information on your file?

 

 

its pretty poor that my account ended with barclaycard on 25/10/12 and I get stung with a default over 2 years later,

surely I could challenge that or would the default now show but with the correct date of default in 2012.

 

 

Also, would link be able to do this themselves or would Barclaycard have to do this as they were the original creditor?

 

 

Are they likely to do this as they have now sold on my debt?

 

 

appreciate any advice on this.

[dx100uk]

CCA time and wait and see what happens on the CRA file.

 

 

I suspect you need to keep reading those other threads for updates too.

 

 

the situation with all of you is in flux at present.

 

 

dx

[aaronoll]

CCA request is drafted and ready to go.

 

 

Would you recommend telling stepchange to stop payments to them till I have received the info

as they will have had a copy of the letter from link advising them they have taken over the debt,

 

 

stepchange will automatically make payments to them on my behalf unless i state otherwise.

[dx100uk]

stepchange will not remove ant debts from a plan

 

 

pers I'd be dumping them anyway

 

 

they nor any DMC do any legality checks

they just blindly pay creditors.

dx

[aaronoll]

Hello, well Ive finally had a response to my cca request.

 

 

There is a brief letter saying please find enclosed the information you have requested from link under section 77 or 78 of the consumer credit act 2006,

this document fullfills our obligations.

 

enclosed is a letter from Barclaycard which reads(doc 1),

 

 

then there are 6 pages of barclaycards general terms and conditions of accounts like everyone gets as standard,

but with my name and address at the top of the first page in small print.

 

There is also another signed page stating the following(doc 2)

 

This clearly isnt a signed copy of an agreement, nor does it contain a satisfactory statement of account

 

can anyone please advice as to how to respond to this best?

 

thank you fran

[SabreSheep]

when was account opened with bc

[aaronoll]

when was account opened with bc

 

Not 100 per cent sure but must be a good 7/8 years ago now

[SabreSheep]

if before 2007 then they require an original in court to enforce the agreement.

[slick132]

Hi Aaronoll,

 

In post #5 above, you were asked about penalty charges on the a/c. These can be reclaimed with compound restitutionary interest which can significantly the a/c balance.

 

Do you have a/c data for penalties and/or PPI ?

 

If not, you can get this with a SAR.

 

[aaronoll]

Hi Aaronoll,

 

In post #5 above, you were asked about penalty charges on the a/c. These can be reclaimed with compound restitutionary interest which can significantly the a/c balance.

 

Do you have a/c data for penalties and/or PPI ?

 

If not, you can get this with a SAR.

 

 

Hi, no I never took out ppi on this card and pretty sure I didnt have any penalty charges either.

[aaronoll]

if before 2007 then they require an original in court to enforce the agreement.

 

Thanks for the information.

 

 

I will write a letter to them asking for the original signed agreement ,

 

 

they clearly dont have this as this is what I have already asked for.

 

 

Would you suggest making no further payments now?

 

 

currently, Im paying £5 a month through a DMP

[SabreSheep]

Nor are they legally entitled to give you a copy untill it reaches court stage,

 

Longer you make payments, longer they can chase the debt.

 

 

Each payment autohorised by you resets the 6 year clock before it becomes statute barred.

 

No CCA? id be tempted to stop paying.

 

 

Wait for them to bring an action and defend it.

 

 

Problem is that route if you lose could give you a ccj - if you cannot settle the debt within 14 days of judgement.

 

 

In my case with Plink

 

 

I have set aside funds recovered from elsewhere just in case that scenario comes up.

(Better knowing that Plink KNOW I have the funds as well as the place of recovery told them about a settlement. Must bug them heh )

[aaronoll]

Nor are they legally entitled to give you a copy untill it reaches court stage,

 

Longer you make payments, longer they can chase the debt. Each payment autohorised by you resets the 6 year clock before it becomes statute barred.

 

No CCA? id be tempted to stop paying. Wait for them to bring an action and defend it. Problem is that route if you lose could give you a ccj if you cannot settle the debt within 14 days of judgement. In my case with Plink I have set aside funds recovered from elsewhere just in case that scenario comes up. (Better knowing that Plink KNOW I have the funds as well as the place of recovery told them about a settlement. Must bug them heh )

 

I didnt know that,

is it likely they would come up with a signed agreement if they cant now provide it?

 

 

to be honest I dont think id risk getting a ccj if theres a chance they could still get it.

 

 

i was more worried about them defaulting me 4 + years after I actually did default the account more than actually having to pay them.

 

 

the letter very much read along the lines of pay more or we'll default you which they know isnt something i would be able to do on a DMP anyway.

 

 

I cant see any default on my file as yet and Link arent even anywhere on there, the debt with barclaycard is shown as settled.

[SabreSheep]

if debt with BC is shown as settled then im assuming at some stage BC defaulted it. Plink cannot change that default date

 

BUT if BC had the paperwork, why did they sell it to link. Something is wrong with it.

[aaronoll]

if debt with BC is shown as settled then im assuming at some stage BC defaulted it. Plink cannot change that default date

 

BUT if BC had the paperwork, why did they sell it to link. Something is wrong with it.

 

The letter I received from Link implied that due to error BC didnt default me when they should of done(i cant see any record of default on the BC closed account),

they apologised, and said due to this they would be reporting the account as defaulted from Feb 15.

 

 

They have sent these sort of letters to a few people,

 

 

DX posted a link to another thread on here in an earlier post and the letter that had been uploaded on this post was identical to mine.

 

 

My argument was that if they were able to default me,

 

 

then it was recording inaccurate data and this would have an unneccesary impact on my credit file.

 

 

the correct data should ave been recorded 4+ years ago

[dx100uk]

if you have sent a CCA request

and they have failed to send an enforceable agreement.

 

 

they then cant produce something diff or one in court

 

 

a cca request is a legal request and must be complied with.

 

 

CCJ has 28days to be settled not 14.

 

 

I would let slick132 decide if that CCA return from plink complies

 

 

but like all the others - its not signed

 

 

dx

[slick132]

Referring to the CCA response in post #13 :-

 

Link DO give a statement of account in the first page of their letter.

 

They do not have to supply a copy of the credit agreement, to comply with a CCA request. It could be argued that Link should also have supplied T&C's for each time they changed, eg an interest rate change. However, this is not worth pursuing in my opinion.

 

If they have supplied neither a copy of the credit application nor of the credit agreement, it does not necessarily mean they don't have them. But this could be seen as encouraging in terms of possible court action being successful.

 

So, even though Link may have made an adequate response to your CCA request, they have provided nothing that I have seen that would enable them to have a court enforce the account.