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VT Ford Finance, Now Link Financial Credit Record Default


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Hi All, I've been lurking on this site many times, but now I'd appreciate some help if possible.

 

VT'd my car in December 2019, this was with Ford Finance.

Car was collected in January 2020. I thought that was that,

 

a letter from Ford Finance, dated 5th February, alleging I owed them approx £628 but their letter doesn't explain why, just a request for that amount and a threat the debt would be transferred to Link Financial if I didn't pay up by the 4th March. (The car was in immaculate condition & subsequently sold via Manheim car auctions as being in A1 condition. I suspect the following charge could only possibly relate to excess mileage, but I've never been given any direct information regarding this as yet. The agreement was 18,000 miles per year. Car had covered 51,600 on collection day, 2yrs 7months in at time of VT ).

 

I replied in writing to Ford Finance disputing this amount owed and asked for an itemised breakdown of the alleged charge and what it was for.

Ford Finance never replied to this request. However, Ford Finance did send another letter, dated 17th March, stating they had transferred the alleged debt to Asset Link Capital. I wrote back to Ford Finance on 22nd March asking again for a breakdown of the alleged charge and also queried why they had transferred it to Asset Link Capital. Ford Finance have never replied.

 

The next letter I receive, dated 23rd March, is from Asset Link Capital stating the debt was now in their hands and Link Financial would be taking it on.

I replied to Asset Link on 30th March stating that the alleged amount was already in dispute with Ford Finance when they transferred the debt to Link, and I required a breakdown & itemisation of that alleged amount owed. Asset Link never replied to this letter.

 

I have now had a letter from Link Financial, dated 10th September, again requesting payment of the £628.

Again, there is no explanation of what this alleged debt is for, or how it was calculated, just that it is a 'balance brought forward'.

 

 I suspect this letter is simply an auto generated one that they have to send out every 6 months, if that's correct?

Regardless, I shall reply to this letter, yet again asking for an explanation and itemisation of what the alleged debt is for.

 

However, I have only just discovered last week, that Link Financial have placed a default notice on my credit record every month since March this year.

At no point was I ever notified of this.

 

Needless to say, I'm far from impressed.

Can they do this, even though the amount is disputed and neither Ford Finance, or Link Financial have ever bothered to show what this alleged debt is actually for? 

 

Any help & advice how to proceed on this would be gratefully accepted.

 

Many thanks.

 

 

 

 

 

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You need to send Ford Finance an SAR, in order to find out what the £628 charge was about. They can't wriggle out of that , SAR is now a binding part of GDPR regulations which can mean massive massive fines for non compliance.

We could do with some help from you.

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Thanks for the reply.

I can do a SAR, if for nothing else other than to make Ford do something for ignoring my original letter!

 

However, now that Ford Finance sold the alleged debt to Link, will Ford now have just washed their hands of the matter, and say it's nothing to do with them anymore? 

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SAR is to find out if the £628 was unlawful, and potentially claim it back.  

 

Did the letter from Link say they were collecting on behalf of their client or  that the debt had been sold to them?

We could do with some help from you.

PLEASE HELP US TO KEEP THIS SITE RUNNING EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHERS

 

 Have we helped you ...?         Please Donate button to the Consumer Action Group

 

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Thanks, I'll get onto the SAR today.

 

They don't use the word 'sold', Ford, Asset Link Capital, and Link Financial, in their letters they all use the word 'assigned'.

 

Ford has assigned the debt to Asset Capital, and then Asset Capital say have assigned it to Link Financial, who say they have been assigned to recover the debt.

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Brilliant, lets see what Ford have to say for themselves.

We could do with some help from you.

PLEASE HELP US TO KEEP THIS SITE RUNNING EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHERS

 

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I've got the Word open doing the SAR now.

 

With regards to Link putting a default on my credit file, am I stuck with that? Should they have put it there without even substantiating that the alleged debt is valid?

 

Thanks.

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Just another question to ask, when you gave the car back, was any record agreed about damage, such as scratches, scuffed alloys etc? Were any photo's taken?

We could do with some help from you.

PLEASE HELP US TO KEEP THIS SITE RUNNING EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHERS

 

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The guy who collected it gave me a sheet with all of the boxes on it ticked 'fair', and that was it, away he went. I've heard nothing then, or since about any damage, or anything else for that matter!

 

I've got plenty of photos of the car before it was collected, and I also have screenshots of the entire internet listing when the car was subsequently put  on Manheim's auction website.

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I'll bet you down to a penny, it's for scuffed alloys or a couple of marks.

We could do with some help from you.

PLEASE HELP US TO KEEP THIS SITE RUNNING EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHERS

 

 Have we helped you ...?         Please Donate button to the Consumer Action Group

 

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they can't charge you anything.

i'll guess its amalgamation of over mileage and Collection fee of about £350

which again is unlawful under VT.

 

Link will have had their name replaced upon the existing entery that was there for the finance, Ford Finance or link updating the debt monthly makes no odds

 

is there a defaulted date in the debt summary line.

 

little tip next time

stop writing pointless letters 

all it does is invite pointless letter tennis or let fleecers know you are worried about things.

 

were you over the 50% mark when you VT'd

and did you use our VT letter?

please don't hit Quote...just type we know what we said earlier..

 

DCA's view debtors as suckers, marks and mugs

 

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

 

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

 

 

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Thanks for replying DX.

 

Yes, It was over the 50%

No, I didn't use your VT letter

 

The only thing I'm worried about, is the impact on my credit file, which until Link intervened was excellent.

 

What is the 'seby summary line'?  

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So how did you vt?

Debt summary line

 

 

please don't hit Quote...just type we know what we said earlier..

 

DCA's view debtors as suckers, marks and mugs

 

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

 

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

 

 

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Share on other sites

I emailed Ford Finance and followed that up with a written letter stating I was exercising my right to terminate the agreement under Section 99 of the Consumer Credit Act 1974, and that was it.

 

If debt summary line, is where they have 'Arrears on balance' written, then that is 13/03/2020

 

 

Edited by Marantz
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Is there a listed defaulted date?

 

 

 

please don't hit Quote...just type we know what we said earlier..

 

DCA's view debtors as suckers, marks and mugs

 

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

 

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

 

 

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Share on other sites

I can't see anything written specifically as a 'defaulted date'. On the first letter from Asset Link it states 'we (Asset Link) hereby give you notice or intimation that effective from 13/03/202 FCE Bank PLC (Ford Credit) assigned to us the benefit of the debt you owe...'. Is this it?

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was this car finance showing under ford finance or whomever on previous checks?

 

though i wouldn't worry about till , lets get the sar

but you won't be paying anything i doubt..

please don't hit Quote...just type we know what we said earlier..

 

DCA's view debtors as suckers, marks and mugs

 

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

 

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

 

 

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As far as I recall, it was Ford Finance til they 'assigned' it over to Link in March..

I've posted the SAR earlier this afternoon.

 

Cheers for the input so far, I really do appreciate it.

Thank you. 👍

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  • 1 month later...

Update on this for you:

 

Quick reminder, I wrote to Ford Finance for the SAR, and I also wrote to Link (again) requesting a breakdown of the alleged debt and how it was calculated. I have since had two identical letters from Link at the beginning of October just saying I owe them £628.83, but nothing addressing the alleged debt calculation/explanation whatsoever.

 

At the same time as the above letters, I also contacted Experian to refute the default on my credit record that Link had placed there. Experian have emailed to say they contacted Link and have had no response from them within 28 days regarding this, so Experian have suppressed this information from my report.

 

The SAR reply from Ford Finance has arrived. The £628.83 charge shows on the SAR comprising as "£14.99 D/Charge" (whatever that is), and "XS mileage £612.84", apparently worked out pro-rata.

 

As ever, any advice or comments most gratefully received as to how to proceed.

 

Thanks.

 

 

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as i pointed to before

ford finance would have defaulted the loan on or before its sale to Link.

links name simply replaced that of ford on the credit file

 

you are lucky ONE of the three credit ref agencies are actually doing anything, it's not really their bag.

 

so the debt comprises failed DD charges and an over mileage claim when you returned the car under VT.

in my books 3*18k=54k

 

so i cant see how FC can claim any over mileage

but thats why they sold it to Link anyway.

as they knew it was bogus.

 

dx

 

 

 

please don't hit Quote...just type we know what we said earlier..

 

DCA's view debtors as suckers, marks and mugs

 

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

 

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

 

 

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Share on other sites

The agreement was for 18,000 miles per annum, I had the car 31 months. Someone has done some handwritten 'calculations' on one of the enclosed sheets, which says "mileage allow = 46,500" "1,500 x 31months". And on another sheet it has "Actual mileage 51,607, Excess: 5107 miles", which could give this figure of 46,500 (as the mileage on collection day was 51,607), but I can't understand where this 46,500 actually comes from, or am I missing something here? 🤔

 

So Ford can just come up with spurious charges, put defaults on my credit file, sell on the non-existent debt, and just walk away, leaving me to spend hours sorting it out?

 

Am I to just ignore Link forever more, or will they eventually just stop bothering me?

Edited by Marantz
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18k/12x31=46.500

i would suggest your agreement was pcp not hire purchase?

 

good username marantz great hi-fi gear

please don't hit Quote...just type we know what we said earlier..

 

DCA's view debtors as suckers, marks and mugs

 

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

 

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

 

 

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