Link and old Barclaycard debt

[howdoi]

hello,

 

i have been a Barclay card holder for 20 years ,

 

six years ago I had to pack up work and could no longer afford the full monthly repayments

 

I phoned Barclaycard and we came to an agreement that I could repay a fixed amount per month and that they would cancel the intrest,

 

as I say this was six years ago,

 

does anybody know why now they would transfer my payments over to asset link(no5) limited,

 

and not just continue to receive payment themselves,

 

,,strange

[Stigman]

Hi & Welcome to CAG,

 

Has the debt been sold or are Asset Link collecting on behalf of Barclays?

 

I would have a check of your Credit reference File to see if anything is listed.

 

If either collecting on behalf of or sold then the debt is transferred with the rights of the repayment agreement in place.

 

Have you got all of your statements? If not send a SAR to Barclaycard and reclaim all late penalty/telephone/letter charges plus any PPI if it was ever added at any time.

Do not use any Company to reclaim charges, you can do it yourself for free, just ask away if you need any help.

 

Send Asset Link a CCA request, enclose a £1 postal order (link for CCA request in top toolbar under Library), Asset Link have 12+2 working days to comply, the +2 working days are to allow for postage, if they fail to supply you with the correct documentation then the account goes into dispute and you can legally stop paying.

 

Do not talk to Asset Link on the telephone, the telephone is their number 1 threat tool, like all DCA's they will lie, cheat, misinform & bully to get extra payments out of you, keep everything in writing so you have a paper trail.

 

If anyone does ring, refuse to go through the DPA questions and tell them to write to you and hang up.

 

Stigman

[howdoi]

thank for the reply,

 

the actual words of the letter are,

 

we will shortly be transferring your account to a third party called asset link capital(no5) limited to recover your outstanding payments,

 

this is in line with your terms and conditions,

 

surely as I have never missed a payment

 

I have not broke my terms and conditions,

[havinastella]

Excellent advice from Stig.

[dx100uk]

CCA Request time as well!!

 

 

have a read of this thread

you are not alone.

 

 

http://www.consumeractiongroup.co.uk/forum/showthread.php?440862-asset-link-capital-no5Ltd

 

 

dx

[firstship]

My B/card likewise has just been or about to be transferred Asset Link,and I have been paying them a reduced amount for over 6 years,and very surprised to find out that B/card have never Defaulted the account,

 

FS

[SabreSheep]

this company is interesting

 

it is a "dormant" company

there are also several others with similar names based at the same address including numbers 1 2 3 and 4

[howdoi]

I understand that but why would you decide to give a regular payment to somebody else

[SabreSheep]

i have a feeling it is a shell company owned by barclays. more than likely a way to write off bad debts and claim tax relief whilst still receiving payment.

[howdoi]

so I am obliged to continue paying ,how long before they start to get heavy

[SabreSheep]

A dormant company is one that doesn’t trade and has no accounting transactions.

There are two main situations where owning a dormant limited company can be useful for start-ups and small business owners;

 

1. Protecting your interests if you are a business operating as a sole trader, or are thinking of becoming self employed.

2. Preserving your limited company, if you are stopping trading for a period of time.

Dormant companies can also be used to hold an asset, such as a freehold property. However this purpose is of limited relevance to small business owners, so it will not be covered in this guide.

 

 

Which means if they are going to be taking payments they should not be a dormant company....

[SabreSheep]

Stigs advice in post #2 is the way id suggest u go

[howdoi]

so they are not a debt recovery company

[Falcokeith]

I have had an alleged debt from smile transferred to Asset Link for collection so my guess is they are a DCA

[howdoi]

so will Barclaycard send my terms and conditions over to asset link, my cards were taken out twenty years ago do you think they still have them

[Stigman]

Asset Link Capital No5 are owned by Link Financial

 

https://www.companiesintheuk.co.uk/ltd/asset-link-capital-(no-5)

 

Stigman

[Falcokeith]

I very much doubt they still have the CCA

As DX said CCA request to Asset Link, then when they are unable to comply its game over

[howdoi]

thanks

[dx100uk]

asset are link and have always been

 

get a CCA request off to them pronto.

 

follow that other threads I posted.

 

dx

[howdoi]

they take over my account at the end of February,should I wait till then as they may not have any paperwork yet

[firstship]

They need to write to you to confirm their part of the transfer

FS

[howdoi]

if I contact Barclaycard for a cca and they cant come up with anything, does that mean I can ignore anything fron asset link.

 

hi I am asking Barclaycard for a CCA on my Barclay cards am I correct I need to state section 78

[firstship]

Hi Go to the CAG Library there is a CCA 1974 letter for you to use credit cards come under section 78

 

FS

[dx100uk]

no you are not

 

 

you sent the CCA request

 

to asset LINK.

£1 BLANK PO

do not sign anything.

 

dx

[slick132]

Hi Howdoi,

 

Wait until you get written contact from Link and then use the CCA request template letter in our Library. It'll cost £1.

 

If you don't have all your old BC statements, send BC a SAR request asap, costing you £10. You'll probably only get back data for the last 6 years during which time there may have been no penalty charges added.

 

So it is really important that you look for any older statements that you may have. These could be worth a small fortune in penalty charges and compound interest.