MBNA sold my Debt to Link Financial

[TH1966]

Hello dx100uk has suggested I start a new thread.

 

 

I have a lot of different debts and have been making payments to all of them that I arranged myself directly. It's my intention to get everything paid off eventually.

 

 

MBNA have now sold my debt to Link Financial Outsourcing and it stands at £20,688.26

 

 

I had been paying MBNA £17 per month.

 

 

Link Financial have said they will honour this "informal" arrangement until the review date agreed with MBNA or 6 months from the date of the letter (23rd December).

 

 

I think the card was taken out at least 15 years ago.

 

 

Should I continue to pay Link the £17 per month?

 

 

DX suggested I send a CCA Request do I send that to Link now?

 

 

Thanks

[dx100uk]

yes

 

 

CCA request

 

 

blank £1PO

 

 

do not sign anything

 

 

dx

[TH1966]

What about the payments should I keep them going?

[dx100uk]

they need to fail the 12+2 working days deadline first

 

 

pay MBNA though not link.

 

 

DONT assume anything they write is true

 

 

they already want to 'con' you into paying them.

 

 

if MBNA have sold the debt

 

 

you need to find out why

 

 

PPI/PENALTY charges?

 

 

time for an SAR to MBNA if you've not got all the statements.

 

 

is this on your credit file?

 

 

dx

[TH1966]

It's only just happened the letter from Link is dated 23rd December. I missed MBNA's letter in November telling me they were considering selling the debt.

 

 

I never had any PPI and the only charges applied were when I started missing payments last year so there is none of that to go for.

 

 

Is an SAR necessary if I have all the statements. I have paperwork going back on there for years.

 

 

Thanks for your help by the way.

[renegadeimp]

If MBNA sold a debt of £20k and didn't go to court themselves, then you need to find out why.

[BankFodder]

In terms of your regular payments - keep on making them and don't miss a single one or be late in paying for any reason. How long has this installment agreement been running?

[angry cat]

Hmmm, an old MBNA debt that MBNA off loaded onto Link Financial.

 

IMHO, there must be something seriously wrong with that MBNA credit agreement, otherwise MBNA would have gone to court long ago and;

why haven't Link?

 

Probably, because it is an unenforceable credit agreement!?

 

You need to make a FULL SAR (subject access request) requesting any and all historic information that relates to the account; cost is £10.

Also, make a section 78 CCA Request; cost £1.

 

You must write on your written requests: "Subject Access Request, only" and "Section 78 CCA Request, only"

 

Send by Recorded Delivery and keep copies.

[angry cat]

The following 80 page thread will give an insight to how Link have operated and continue to operate;

a interesting read!

http://www.consumeractiongroup.co.uk/forum/showthread.php?162255-Link-Financial-Limited

[TH1966]

I have been paying MBNA since July.

 

It's set up on a standing order each month. Is it best just to continue paying in this way to MBNA?

 

 

Should I send the CCA & SAR to link?

Edited January 7, 2015 by TH1966
include more info

[dx100uk]

no

 

 

CCA to link

 

 

sar to MBNA

 

 

leave your payments as they are.

[TH1966]

Thanks DX I will get onto it today.

[angry cat]

Thanks DX I will get onto it today.

 

If, you took out the MBNA Payment Protection Insurance on the account?

Request that information also!

[TH1966]

I got a letter today from Link saying it can take up to 30 days to provide me with a copy of the most recent terms and conditions to my account and that they have requested them from MBNA Ltd.

[dx100uk]

they have 12+2 working days to produce and ENFORCEABLE agreement

and all the correct T&C's

[inception and any major changes.]

 

 

something is already beginning to smell.

did you send the SAR to MBNA too?

 

 

dx

[TH1966]

Yes I have done. No reply yet.

[TH1966]

I got the SAR request back from MBNA

 

 

Having had a look through there are a few penalty charges from way back.

 

 

They sold the debt to link a couple of weeks before the letter to me, advising me of this was dated.

 

 

They also sent me a copy of the credit agreement unfortunately.

[dx100uk]

matters not about mbna having it

 

 

link have goto send you it

 

 

dx

[angry cat]

I got the SAR request back from MBNA

 

 

Having had a look through there are a few penalty charges from way back.

 

 

They sold the debt to link a couple of weeks before the letter to me, advising me of this was dated.

 

 

They also sent me a copy of the credit agreement unfortunately.

 

A reconstructed copy of an MBNA credit agreement is not sufficient. It has to have the prescribed terms and;

they have to provide the correct terms and conditions applicable at the time of opening the account and;

all terms and conditions as varied, as well.

 

And yes agree, if you made the CCA request to Link, it is Link who has to comply fully under "the Act" and "the Regs" (Copies of Documents...)

[TH1966]

Link have responded with a copy of the agreement and terms and conditions. along with a number of other pages of terms and conditions that I suppose are changes that have been made over the years along with a statement of account saying the outstanding balance is payable immediately.

[oleg]

Payable immediately my Aunt.

 

Is it a copy of the original agreement [not just application form] , and is it executed [signed] by both parties?

[angry cat]

Link have responded with a copy of the agreement and terms and conditions. along with a number of other pages of terms and conditions that I suppose are changes that have been made over the years along with a statement of account saying the outstanding balance is payable immediately.

 

Nice try Link!

But have they provided to you the correct inception issue terms & conditions and?;

do they actually match with the MBNA Card taken out approximately 15 years ago?

Have they provided to you all the correct issue T&Cs that would have been issued after the 1 token (1 credit card)?

 

I will be very surprised if Link have fully and correctly complied!

 

I will also be equally surprised if the, so called, credit agreement sent has all the prescribed terms...

 

Link, have to send the statement of account, as per post contractual regs. If they did not they would be prohibited from charging interest.

[TH1966]

Hi Oleg it is a copy of the application form on one page of A4 with some terms and conditions (I cannot read) on another page. They look like they were on a different part of the original application form. They have sent another page with these terms and conditions in a more clear format but they are obviously not from the original application form.

 

 

They go on to sent photocopies on A4 of 7 pages of terms and conditions and 8 pages of further terms and conditions from a later time, but I would figure there have been more than one additional set of terms and conditions sent out in all that time.

 

 

The agreement is signed by me only.

 

 

Angry cat I'm not sure if the have sent all of the different terms and conditions from over the years, there must have been more than just one additional agreement during this time, after all don't they send terms and conditions with each new card?

 

 

Thanks for explaining the statement of account thing.

Edited February 27, 2015 by TH1966
bad speeling

[theoldrouge]

please post up full return, minus personal details

[dx100uk]

does it match the one that MBNA sent in the sar EXACTLTY too

 

 

scan things up.

 

 

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