Link financial outsourcing Ltd and co operative bank plc

[Debtorproblem]

Co-operative Bank 

 

The bank did not contact me during the covid 19 and I was self shelding during the covid 19. 

The fca website i am entitled to have 500.00 overdraft.

The bank did not offer me overdraft because I have 200 overdraft. 

 

I have a look at the fca website its give us that the banks shouldn't give any late markers on my credit report which they have.

They default me on September 2020. 

Now I am with the Financial Ombudsman Service for help. 

I notice that default amount is £214 which I dispute them first 

 

Link financial outsourcing Ltd £215.00

I received a letter from them saying my account has passed from the bank to link financial outsourcing Ltd. 

During the lockdown I suffering from generalised anxiety disorder due to the bank and debt collector actions. 

They were rude and threatening me on the telephone.

I also report it the lender and they don't help me at all.

 

I do have their final response from them its off to 

Credit association and financial services Ombudsman 

 

I will keep you updated 

[dx100uk]

you should never be phoning powerless dca's

they are not bailiffs.

 

are their clients stated as the co-op or have they purchased the debt?

 

 

[Debtorproblem]

They purchased the debt from the co operative bank plc

[dx100uk]

On 10/11/2020 at 16:57, Debtorproblem said:

The fca website i am entitled to have 500.00 overdraft.

 

the above is not true.

you are not entitled to a £500 OD.

 

was there any debt before covid start with the co-op?

it's very telling they have so quickly sold the debt to link.

pers i'd simple ignore them

nothing link can nor will do for a £200 OD debt 

 

as for the markers on your credit file.

answer my above question, but as far as i am aware, there are again no covid rules that state a creditor cannot mark you file.

 

dx

 

[London1971]

Ignore Link, don’t call them. It’s only a £200 default . Mind you I’d be giving the same advice if it was £10,000. Don’t get into any payment plans with them either, just let the statute barred clock start ticking. In a year that default will be irrelevant anyway in terms of your credit history.

[Will Goodfellow]

You are confusing the freezing of interest on the first £500 of overdrafts introduced due to Covid-19 with an entitlement to an overdraft of that amount.

[Will Goodfellow]

10 hours ago, London1971 said:

In a year that default will be irrelevant anyway in terms of your credit history.

 

How is it irrelevant after a year when it will show on a credit report for six years?

[London1971]

From the perspective of a mortgage for example a small default on its own more than 12 months ago won’t have an effect. 
 

If the default is large, multiple, and or CCJ’s it’s still possible to get a mortgage at the 12 month mark, with a big deposit and a high interest rate. In that situation the 2 year mark is a huge milestone, where deposit levels and interest rates take a tumble. After 3 to 4 years, even with a dire credit file, near normal rates apply.

 

Of course the caveat is that no new problems occur. The other exception is pay day loans which will almost always need paying off, no matter how old they are before a mortgage is considered.