Asset Link Capital - Advice 'HELP' needed

Felixx_2

Hi all

Have just joined you guys and was looking for some help. Bear with me as I'm new to this. I have just been issued a County Court claim form issued on behalf of Asset Link Captial (ALC) for a CCJ on a debt that they brought from GE Money back in October last year and want to know of any success stories that you may have, to gain some insight... and HOPE from.

A bit of background, I took out a loan for £18k at the end of 04, over 20yrs with mthly payments of £201, subsequently missed three installments between May-July last year (I was setting up a new business and wasn't getting a salary) I was issued a default notice by GE which I responded to immediately and after speaking to GE, agreed to pay £300pm which covered the loan plus arrears over 7 mths which I am still paying to this day albiet now to ALC.

When they (ALC) brought the debt (which of course I didn't ask them to or know anything about until their letter) they starting harrassing for full payment or payment within 6mths. In Feb this year they issued the court papers, they would not negotiate under any circumstances to make a monthly arrangement although I have continued to pay the £300pm to this day.

I have since written to the court (Northampton) to plead against the CCJ saying that I have continued to pay £300 and will increase the payments as and when I can in the future I also included an I&E and ALC's letter. Having spoken to National Debtline this morning it doesn't look good as it is down to the court to decide. ALC have already said that even it the court agree to my terms that they will appeal for the full amount.

I have been battling to clear/manage my debts for the past two years and now this happens. I have just remortgaged to consolidate 3 charges and lower my monthly payments a bit, although their isn't much equity in the house I did explain to the court that I would be happy for a charge to be put on the house to cover the monthly payments over 5yrs. I'm now not sure having read some of the horror stories on here, that the court or ALC will accept this.

I have also been delt with another blow in the form of a tax bill for £8k for previous and upcoming income tax although at the moment that's another matter.

Does anyone out ther have any advice on what I can/should do? There doesn't seem to be many success stories and at the moment and I'm feeling phisically sick.

Thanks

Debs64

Felixx

I sympathise with you last Nov 06 I was contacted by Asset who said they had some mail that needed routing from an address that I previously lived in and it was my previous married name, foolishly I gave them my address. No post came in my previous name and next my husband opens a letter and we have been issued with a interim charging order on our property, I have constantly been chasing then for the original contract and this has only arrived on Friday, I have also been constantly chasing them for the statement. In the mean time I have managed to contact my previous husband and he informs me that Asset Link have entered into an IVA with him as on seperation he agreed this debt was his however, it did have my signature on it. This debt is going back 12 years, it was for £4500 and my husband paid £6500 and now they are chasing me for £7000 in interest charges. They are the most appauling Company I have ever dealt with and I do not have time to get Solicitors advice as the Court case is next week. I was originally advised that as long as the Debt agency had not contacted me in 6 years then the debt is Statute barred, however I have just found out that it is statute barred from the last payment, which sadly my former husband made in 2003. Well it is all down to the Courts now.

Felixx_2

Hi Debs

Only just (last few months) been dealing with ALC but looks like it could be along slog. The only information I gained was on previous threads, one of which related to interest charges, links below.

Unfortunately this is all the information I have gained on messages boards re ALC, hence my request. Although I do now have their full address, seeing as they hide behind a PO Box number.

http://forums.moneysavingexpert.com/showthread.html?t=153047

http://forums.moneysavingexpert.com/showthread.html?p=1596043#post1596043

http://forums.moneysavingexpert.com/showthread.html?t=204261

http://www.consumeractiongroup.co.uk/forum/general-consumer-issues/71831-can-some-please-advice.html

Regards

Felixx

Debs64

Felixx

Many thanks for the reply, my God this Company needs to be stopped, I will let you know the outcome of my Court date next Tuesday. What confuses me is my former husband has entered into an IVA agreement with Asset to pay the debt and he has not defaulted, so how can they expect me to pay it as well. I suggest you contact them immediately to get a Statement of your account as the fees and charges that they add on are appauling, I have there in house solicitors tel no if you require, you wont get it through the post so get it faxed. Put everything in writing and have it sent recorded delivery, I sent them twelve letters before I actually got copy contract, keep all documentation. I just have to hope I have a good job as since Nov and contacting me they have added on 2000 in charges and fees.

Debs

Felixx_2

Firstly apologies, had to bump this myself, as I really, really would like some advice and I know, a few of you have had dealings with ALC.

So is there any one out there???

leonidas_2

Hi today i have recieved the statutory letter from ALC. how long is it before they go for a ccj if you can t pay the full amount. It appears to me they love to ramp up the charges.
I ve ended up here after falling behind on car payments to a GE money car loan. All my other creditors have accepted a monthly token payment including GE on my store card. Even though a relative offered to pay GE half of my regular monthly payment, till i get back on my feet. They have just ignored me and my requests demanding i sell ythe car, although i have paid more than half the loan off and need the car for work.
It seems to me that some of these recognised institutions have no real interest in helping customers in times of real difficulty, and behave more like the bloody mafia, their under hand and decietful.
and although my other creditors have agreed token payments, getting to that point has been a hell ride. I don t mind paying what i owe, but object to high charges by firms like ALC who do jack !!!! for an account they ve paid a fraction of the debt for.