Link Financial promised to honour the agreement and now backtrack

JamesAbb

Hi forum members,

I need some help on where to take the matter further.

I've ran up an MBNA card to a figure of just over £4,400 several years ago. I was looking to settle the debt directly with MBNA and agreed an amount of £1,200 as full and final. Unfortunately, I was slow to raise the money and the card was sold off to Link Financial after a default.

I've contacted Link and offered the same amount as settlement, advising that MBNA was accepting that figure, but I did not have time to raise the funds (parents were helping out).

Link called back the next day saying that they need proof that MBNA accepted the offer. I've immediately setup a conference call to MBNA and, whilst Link account officer was on the line, was able to pass security and get MBNA to confirm that the figure was being accepted at the time. I was of course advised that the conference call is not the same as written proof, but I did ask the officer to note on the account what they've heard from my conversation with MBNA.

I then asked Link to formally request this written proof from MBNA through their channels in order for them to obtain it directly.

The account was on hold for around 6 months, but then Link continued collections.

I've raised a formal complaint on why I have not received a response and why Link is not accepting the same settlement offer as they promised to honour.

I've received a response last month where they refer to my second conversation:

"...the officer explained that our Operations Team would reconsider the decision upon receipt of written confirmation of the acceptance by MBNA.
“The account officer did not guarantee that we would accept your offer upon receipt of evidence from MBNA”

However, this seems to be misleading to say the least! :eek:

Yes, I do not recall the officer saying “we guarantee”, but I have asked, and the officer confirmed, that providing evidence is produced, the same agreement would be honoured by Link. That was the reason why he’d listened to my call to MBNA and why he agreed to request that information from MBNA, putting the account on hold.

I do not have a voice recording of the call, but Link do. But their response is very misleading.

What can I do and how can I make sure Link stick to the agreement that they would honour the amount providing proof was obtained from MBNA?

I do recall asking the officer to note what was agreed, but Link say “the account officer did not guarantee”.

In the response to my letter, Link have made a counter offer of £3,300 that they are willing to accept, but that is significantly more.

What can I do?

sourcrates

JamesAbb wrote: »

What can I do?

Hi,

The answer is, not very much unfortunately.

As you have nothing in writing that this amount was accepted in final settlement, i`m afraid your case is dead in the water.

It is imperative any settlement agreement is made in writing, otherwise you have no proof, taped conversations, hearsay, calls and texts, just dont count legally.

You could try and follow there complaints procedure (if not already done so) but i fear they will just state nothing was agreed in writing, therefore it was never official.