debt sold on...

Newbie06

I am just about to have my debt sold on from Land Rover Finance to a debt company called Link, unfortunately I am not in a position to pay the debt, I am not sure what the best course of action for me is.. I have paid for over half of the car so am aware they could not take it off me, I did intend to VT the car but could not afford to pay the arrears necessary and also can't afford to be without the car as I need it to get to the part time job I have just found..

A friend of mine told me once the debt is sold on in becomes unenforceable - is this correct? What's the best way for me to deal with this?

(I have a feeling I am going to be on here a lot in the future as my world is slowly crashing down around me - sorry if that's dramatic).. Any help much appreciated..

10past6

How did you know the debt has been sold on, who told you?

Newbie06 wrote: »

A friend of mine told me once the debt is sold on in becomes unenforceable - is this correct?

No that's not correct,

Newbie06

Land Rover finance informed me that if I did not pay my arrears by the end of March that they would pass the debt onto Link, they told me via telephone and letter..

Newbie06

arrears are just under £2,000 (I have missed 4 months payments due to losing my job)..

keith_lard

ask for a copy of the Original signed agreement from link

will guess they dont have it!

k.

10past6

Have Link been in contact with you?

10past6

OP, ignore the following letter, it does not apply in your situation

keith_lard wrote: »

Date:

Dear Sir/Madam

You have contacted me/us regarding the account with the above reference number, which you claim is owed by myself/ourselves.

I/we would point out that I/we have no knowledge of any such debt being owed to (insert company name).

I am/we are familiar with the CPUTR 2008 and the Office of Fair Trading's Guidance on debt collection, which states that it unfair to send demands for payment to an individual when it is uncertain that they are the debtor in question.

I/we would also point out that the OFT say under the Guidance that it is unfair to pursue third parties for payment when they are not liable. AND in not ceasing collection activity whilst investigating a reasonably queried or disputed debt you are using deceptive/and or unfair methods.

Furthermore ignoring and/or disregarding claims that debts have been settled or are disputed and continuing to make unjustified demands for payment amounts to physical/psychological harassment.

I/we would ask that no further contact be made concerning the above account unless you can provide evidence as to my/our liability for the debt in question.

I/we await your written confirmation that this matter is now closed. Otherwise I will have no option but to make a complaint to Trading Standards and also inform the Office Of Fair Trading of your actions.

I/we look forward to your reply.

Yours faithfully

keith_lard

sorry thought it was correct.

10past6

keith_lard wrote: »

sorry thought it was correct.

That's OK Keith, that letter above is when someone has "No knowledge" such a debt exists, i.e when a DCA / Creditor writes to someone and is fishing for information.

Newbie06

No, link haven't contacte me yet, but I am guessing it is only a matter of time.. If they don't have a copy of the original agreement will that then mean it is unenforceable?

When companies sell debt on do they not pass over the original agreement? I would imagine they still have mine as it wasn't that long ago...

I am in a bit of a mess, I have loads of debt in my name run up by my ex (stupid I know) and now he can't keep up the payments... So I envisage this sort of thing happening again and again and am not sure what my best course of action is....

This debt (the car) is mine - I am in posession of it and drive it.

I really don't want to go bankrupt or have an IVA as in the past I have often been self employed and want to become self employed again and being bankrupt precludes me from this...

Also, ex says that he may be able to pay debt in a few months time when he has sold some land and so stalling tactics may be an idea in the meantime but don't know how to stall,,,,

RAS

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