link financial, could really do with some help please

JamieT1977

mikeandrach wrote: »

link financial are stating verbally over the phone that unless full payment is made they will go straight to court.......

Ask if they mind putting that in writing :P

JamieT1977

They want you to pay in full so their boss can do things like this....

http://www.mirror.co.uk/news/top-stories/2009/06/14/mr-debt-chaser-s-20m-mansion-115875-21439119/

DarkConvict

If you need it to get to work, then a bailiff can't take it. That is still deemed required for work.

If it is on hire purchase, they may be able to take it. As it is their vehicle after all, until final payment is made, they still need to goto court, much like a mortgage and house repossession.

Do not speak to them on the phone, get everything in writing. At this point my advice would be to get bank details from them and start paying £300 a month to them, basically the more willing you are, and the more awkward they are the more the judge will side with you in making them agree to a fair payment.

MyopicMoo

I would make payments of what you can afford, £300, and keep all other contact in writing. That way if you do go to court you can show that you offered to pay about the contractural amount and will increase the payment as soon as you can. Have you paid more than the amount on the contract that says they need a court order to repossess?

mikeandrach_2

i think so, i am more than half way through if thats what you mean! purchased car in november 2006, on a 5 year agreement. account was passed to link financial in first week of january. whenever i call them, and to be fair to me i have been constantly calling them begging them to accept my proposal, they seem very pushy and knowledgable, but a 'manager' is never in, and i mean literally never, and when i tried to call them last night they had a recorded message on their phone saying they were experiencing technical difficulties and to call later.

basically, if i ring them on my next payday, and pay £300 by debit card over the phone, and follow up in writing that i intend to continue to pay £300 eveyr 28 days until september, when i will increase to between £400 and £500, is it liekly they will take court action? i am terrified of the embarassment of going to court a smuch as losing the car

MyopicMoo

See if you can get their bank details so you can set up a SO. These companies often charge for card payment (sometimes as much as 5%).

JamieT1977

mikeandrach wrote: »

i think so, i am more than half way through if thats what you mean! purchased car in november 2006, on a 5 year agreement. account was passed to link financial in first week of january. whenever i call them, and to be fair to me i have been constantly calling them begging them to accept my proposal, they seem very pushy and knowledgable, but a 'manager' is never in, and i mean literally never, and when i tried to call them last night they had a recorded message on their phone saying they were experiencing technical difficulties and to call later.

basically, if i ring them on my next payday, and pay £300 by debit card over the phone, and follow up in writing that i intend to continue to pay £300 eveyr 28 days until september, when i will increase to between £400 and £500, is it liekly they will take court action? i am terrified of the embarassment of going to court a smuch as losing the car

Write to them, that way everything between you and them is recorded. It's also not so easy for them to fob you off, make them an offer etc then finish your letter with something like ".......should I not hear from you by xx/xx/2010 this will be taken as your acceptance of my offer."
Never ever phone, especially if it is a 0871 or 0845 number as it costs you more, plus by doing so they are contravening OFT Guidelines.

JamieT1977

just read that link i posted lol, seems this company have already been in trouble with the OFT

DarkConvict

Use a standing order, best way possible no charges and they get the money.

Cheques are costly if they dont cash them, or cash it randomly...

mikeandrach_2

having read the oft guidelines i can see a couple of points where i can complain to link financial. although the guidelines sya unreasonable demands for payment shouldnt be made, ultimately, i have to accept i owe the money, therefore i relaise i am legally obliged to pay it back. does this mean thought that the dca have to accept monthly repayments? or can they demand a lump sum and if they dont get it take me to court