Asset Link/First National

Pere_Ubu

My husband and I have debt with First National which was sold to Asset Link. We requested a breakdown of our account in order to recover charges from them (another story). Looking at the statement what has amazed us is that for the past 12 months we have been making payments through Payplan £37.34 and Asset Link have been slapping on interest which is £64.92 per month!! This means we will never get rid of this debt. I can't tell you how shocked we are.
They got a CCJ last August and they are now applying for a Charging Order which I don't think they will get (yet another story). What we are deeply concerned about is the fact that the debt is increasing in this fashion. Any advise would be appreciated.

davek1

if they are applying to the court for a charging order then ask the court to halt the interest and assess whether the interest is fair.

Have you spoken to payplan about this ?

Dave

Xbigman

I know your struggle has been long and you have my best wishes for the future.

When the first CCJ went through they should have frozen the interest. Check with the court and find out if you can request a variation to the original CCJ and have the interest frozen now.

EDIT. Actually, check the paperwork to see if it is already frozen and they are trying it on.

Regards



X

Pere_Ubu

Long isn't the word X. The original Charging Order hearing was adjourned because Asset Link hadn't done something they should have done. We have to go back next month however Asset Link have not filed a responce to our defence in the time the judge stated. We have written to the court requesting the action be struck out because of Asset Link not filing a responce - watch this space.

Do we go back to the court that issued the CCJ or the new one which is dealing with the Charging Order to speak about the rate of interest being unfair? It's really worrying that our debt is increasing by at least £30 per month. I'll speak with Payplan ASAP but my experience of contact with them is not good. They never return our calls.

Xbigman

Pere_Ubu wrote:

Long isn't the word X. The original Charging Order hearing was adjourned because Asset Link hadn't done something they should have done. We have to go back next month however Asset Link have not filed a responce to our defence in the time the judge stated. We have written to the court requesting the action be struck out because of Asset Link not filing a responce - watch this space.

Do we go back to the court that issued the CCJ or the new one which is dealing with the Charging Order to speak about the rate of interest being unfair? It's really worrying that our debt is increasing by at least £30 per month. I'll speak with Payplan ASAP but my experience of contact with them is not good. They never return our calls.

Firstly, well done for getting them on the run. These companies muck up the paperwork so often it is amazing. Keep up the good work.

As the charging order procedure is in progress I would try to get interest frozen in that court. If they can't do it then you will have to go back to the original court.
Regards



X

PAT

Can Anyone Advise
My Sister And I Attended Court Back In 2000 Due To Falling Behind Our Repayments To First National. An Arrangement Was Made And We Then Starting Paying £30.00 P/m Towards This Debt.

As With With The Previous Enquirer Asset Link Took Over This Debt We Lost All Sight On How Much Was Owed We Contacted Asset Link For A Breakdown On 4/5 Occasions Eventually They Sent Us A Print Of Our Payments And Yes They Are Charging Interest Every Month The Intrest Varies From £2/3 To £39.00?? P/m We Are In The Process Of Contacting The Court To Find Out What Exactly The Outcome Was In The Mean Time Were We Go From Here ???

Thanks

RAS

Pat

Welcome

You really need to start you won thread so that you can get the help you require.

Pere_Ubu

Does asset link now have a charging order and thats why you are contacting the court? Assett Link were the bain of our lives. The amount they charge each month varied for us as well. When we got a statement it showed £1 here and there added. Not much I know but when I telephoned them to enquire what it was for they couldn't provide an explanantion which then got me thinking about other charges applied to the account. We paid assett Link off. I have meant to chase up the payments appearing on the statements but have as yet not done so. The whole situation with First National and Assett Link put so much strain on our marriage that we split up. We went to court so many times with them the sleepless nights we had. And every time we phoned them they started off by saying do you want to pay the debt off today? When we said no the conversation was less than helpful.Let me know what the situation is with them if they have a charging order then you must keep paying it and then see what they add on top each month (watch it very carefully as they seem to add what ever). If you can cover the interest in addition to what you have to pay them each month then do so as this will obviously reduce the debt. Good luck

BADGER204

I am having the same problem with asset link, to be honest they should be wearing mask's. i have repaid the princable loan £2650 but they still want arond £1800 from me for intrest and costs, any ideas how i can fight them ?