Hire Purchase - Link Financial

mgp1000 · 19 September 2017 at 9:49AM

I have approximately £3500 outstanding debt with LINK FInancial related to a car hirepurchase agreement which they have bought from Ford. I was making regular payments on this account till 2012, after which they have twice taken me to court. In 2014, they repossessed the car from my then home address. Since that incident, they have been sending me yearly statements but I have not made any payments.

Does the 6 year statue barred policy still exist?
If so, do I need to actively do something to wipe the debt off my credit record? More importantly, is it possible to wipe it off? It is currently showing as "default" on my credit file.

Thanks in advance!

[Deleted User] · 19 September 2017 at 9:54AM

It's not yet been 6 years from 2012.

I'd imagine a CCJ will be sought before the 6 years is up.

mgp1000 · 19 September 2017 at 10:26AM

Deleted_User wrote: »

It's not yet been 6 years from 2012.

I'd imagine a CCJ will be sought before the 6 years is up.

I'm wondering why they haven't done this already.
Is it best to wait till they pursue repayment through a CCJ? I can't afford repayments now.

[Deleted User] · 19 September 2017 at 10:33AM

They'll typically wait to see if their money comes back on its own and then only a pursue the CCJ just before the 6 years.

If you do decide keep ignoring it, make sure they have your current address (or a reliable redirect) so that you are at least aware of the CCJ.

Hire Purchase - Link Financial

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