Barclaycard & Link Financial.

[Skinz72]

Hi guys. After scanning through a few similar posts I thought it would be clearer to understand if I posted my own thread hi-lighting my own concerns specifically. Hope that's ok?

 

I'll give an explanation of my situation then submit my questions.

 

About 7 years ago I had a few outstanding debts on various overdrafts and c/cards etc.

My wife and I owed around £4'500 in total.

Nothing to get to worked up about.

 

My wife and I seperated though and after a clean and simple divorce I was left trying to float the home finances alone.

Living on half of our former income, things quickly started to spiral out of control.

In the end I went to citizens advice who spoke to all the creditors and asked them to freeze all my overdrafts and cards etc and also freeze any interest charges. We arranged affordable repayment plans for each of them and all has worked well since then.

 

One of the accounts was with Barclaycard.

I owed around £1'500 and they kindly agreed a repayment plan of £12.00 per month.

 

 

I set up a direct debit and all has been going great.

I've never defaulted on a payment and I've watched the debt steadily fall.

 

 

Just a few weeks ago I called them and asked if I could up the payments from £12.00 to £24.00 per month in order to clear the debt more quickly, as it was now down to a balance of just £429.00

 

I was told by the representative on the phone that it would be easier to leave the account as it is for a while as Barclaycard were in the process of transfering some accounts to another company who would be taking over the management of these accounts and collecting the remaining debts.

 

 

I said I was not happy with this as my debt was with Barclaycard and it was them that I was in a contract.

I explained to her that I could not see why it was ok for Barclaycard to suddenly change the contract.

She tried to reassure me it was all ok but I insisted that I speak to her supervisor.

 

 

After a minute or two another voice came on the line and told me not to worry and that it would be fine to up my repayments.

If I wasn't happy to switch company's then no switch would be made. I hung up satisfied with the outcome.

 

Then a week or so later I recieved a letter from Barclaycard dated the 10th Oct 2016 informing me that they have, and I quote...

 

"closed and transfered your Barclaycard account to a company called Assett Link Capital (No.5) Limited.

They've appointed Link Financial Outsourcing Limited to act on their behalf so they'll be looking after your account from now on"

 

On the same day I also recieved a letter from Assett Link Capital confirming that Barclaycard had "Assigned" the account to themselves and that they in turn had appointed Link Financial Outsourcing Limited to service the account on their behalf. Included were contact and bank details to arrange payments with Link Financial.

 

With all this looking so official and above board and not wanting to once again incur charges against the account,

I went ahead and visited Link Financial's website and filled out the online direct debit form.

I then recieved an email thanking me for my completing the Direct Debit set up form and that my information had been received and they would begin setting up my Direct Debit shortly.

 

Although I wasn't happy at being forced into accepting this change I felt it was more important to stay on top of repayments rather than damage my now recovering credit score.

 

 

I have since seen some online articles which have caused me to have concerns.

So the questions I've been asking myself are as follows.

 

1) Am I in any danger of being defrauded by a fake company who have access to my personal banking information?

 

2) Are Barclaycard in breach of contract by handing my debt on to another debt recovery agency?

 

3) Barclaycard say they've "Closed" the account where as Assett link say Barclaycard have "Assigned" the account to them. Is this the same thing or are these companies being clever with their wording?

 

4) Now I have filled out the online direct debit form with Link Financial have I obligated myself to repay the outstanding sum to them.

 

5) If I have not obligated myself to make repayments to these other agencies and do try and challenge paying back the debt, will this have a damaging effect on my credit score?

 

I appreciate your taking the time to read this, much longer than anticipated post, and look forward to any help and advice you good people may be able to offer. Thanks and regards.

 

Skinz72

[fkofilee]

Woahhhhhhhhhh hold on there...

 

The old link Switcharoo... Assign to a Portfolio and get the Service Centre to manage it... All Link...

 

Link do exist as a DCA. Why not check if they have the Paperwork by doing a £1 CCA Request.

That will potentially kill it dead.

 

2) No BC are not in breach. They probably have a T&C that allows them to offload it to a DCA. But thats where a CCA Request can help.

 

3) They are being clever... Dont be fooled by other sites etc. The debt still exists. Its been bought for pennies in the pound (Usually between 10 & 20% of face value). BC have closed the account on their end and flogged it to a DCA who will attempt to collect on the full amount.

 

4) No you havent at all... I would suggest you cancel the DD Agreement should they attempt to set it up until they have proven you owe this account through a CCA Request.

 

5) Its probably already defaulted so any change wont make the slightest bit of difference. If youve been paying it off then thats a good thing and I know you are trying to do good by whats happened. Just make sure that Links paperwork is all in order first.

 

And finally, welcome to CAG.

[dx100uk]

So the questions I've been asking myself are as follows.

 

1) Am I in any danger of being defrauded by a fake company who have access to my personal banking information? no they cant.

but BC would have defaulted you before the sale , though I suspect this debt was defaulted years ago and does not show on your credit file anyway? so cant come back

 

2) Are Barclaycard in breach of contract by handing my debt on to another debt recovery agency? - no they've sold the debt

3) Barclaycard say they've "Closed" the account where as Assett link say Barclaycard have "Assigned" the account to them. Is this the same thing or are these companies being clever with their wording? - no exactly what it says, the account with BC is now closed, your new account is with link [fleecers]

4) Now I have filled out the online direct debit form with Link Financial have I obligated myself to repay the outstanding sum to them.

- sadly yes [mug!]

 

5) If I have not obligated myself to make repayments to these other agencies and do try and challenge paying back the debt, will this have a damaging effect on my credit score? nope bet it was defaulted more than 6yrs ago so has long gone, never to comeback...

I appreciate your taking the time to read this, much longer than anticipated post, and look forward to any help and advice you good people may be able to offer. Thanks and regards.

 

Skinz72

 

 

i'd be sending ANYONE you are blindly paying a CCA request

who says your debts are even enforceable.

can you list then pleae?

[Guest]

and, cld check yr credit file. see what they have recorded on there eg any defaults

[Skinz72]

Hi fkofilee,

 

thanks for getting back to me on these questions. I'll definately be following your advice and getting the CCA requests done.

Kind regards

Skinz72

 

Cheers for the reply dx100uk. CCA's will be requested straight away.

 

Regards

Skinz72

 

Hi Ford,

 

I've been following my credit score with Clear Score as seen on TV. It was running in a nice favorable direction until this barclaycard issue started. Score has gone down by 9 points although as yet there are no defaults showing. Even if I pay as originally intended though, the change happened in Sept and the DD will not be set up until Nov so Oct is possibly going to show as a default.

 

Regards

Skinz72

[dx100uk]

so the card does and always has shown on your file?

 

if so something is wrong

Barclays should have defaulted you after the third short/token payment

and you need to complain to them

a debt that old should have been defaulted years ago and thus no longer be showing.

[fkofilee]

Fully agree with DX... Thats really bad.

i think you could have Barclays for this.

[fkofilee]

Check Noddle to... Its another CRA through Callcredit... Its actually done by them

[Guest]

as yet there are no defaults .....so Oct is possibly going to show as a default.

 

Regards

Skinz72

what does it show atm? an arrangement, over how many years

[martin2006]

BC are notorious for delaying issuing defaults, wouldnt surprise me one bit if the default is recorded at the same time the account was clised ans sold.

Have you been sent a default notice since this began?

I have had a similar experience with BC which only now just being resolved with regards to delayed defaults.

[dx100uk]

wi was hoping not to mention the dreaded AP marker

I hope you've not got years of those[well for BC's sake]

as they've already been bashed several times for using those for years on end without defaulting the account first.

[Skinz72]

Hi all. thanks for all your feedback and advice.

 

Looks Like I was reading my credit score wrong due to not fully understanding the layout and being a first class tit.

 

The only mention of the barclaycard account on my report is that I've closed or settled the account. I can also see that I have no negative factors against me on the report, only positive's which is a bonus.

 

I am contacting Link with a CCA request still though as advised.

 

Kind regards and many thanks for your help.

Skinz72

[mystirio]

going through my money situation i came across a standing order made out to link financial for 4.56 a month so I said to myself bugger this ca request sent and cancelled st this site makes you more aware of the con tricks these people get up to and certinaly makes you stronger keep up the good work

[dx100uk]

going through my money situation i came across a standing order made out to link financial for 4.56 a month so I said to myself bugger this ca request sent and cancelled st this site makes you more aware of the con tricks these people get up to and certinaly makes you stronger keep up the good work

 

 

not your thread..

 

 

dx

[mystirio]

sorry about that