full and final settlement

3431Anna

I have contacted Barclaycard to offer full and final setttlement of my two accounts but they refused the amount and wrote to say they were transfering my account to Link Financial, are these people an outside company are are they connected to barclaycard. I have offered them 50% of my balance which they have refused but come back with a counter offer of 81.45 less than the outstanding balance and say my account will be marked partially satisfied .which I wouldn't be really bothered by if there was a bigger difference between the two amounts. I have now offered another 300.00 on top of my origional offer but they have refused this also. I am now feeling I may just let the payment plan run its course. They haven't come back to me at all on the offer on my other account but I am assuming they will refuse this also. My accounts don,t seem to have been marked as defaulted.

I would appreciate any advice

fatbelly

It's not an exact science.

I just had a look at another poster who got about 20 settlements and two of these were with Link - at 80% and 55 %.

I wouldn't go up from where you are. Maybe give it 6 months and try again.

Have the debts been bought by Link or are they still referring to Barclaycard as 'our client'? Link are an independent DCA but do buy debts, oviously at a hefty discount.

If they are consumer credit debts have you tried doing a CCA request?

3431Anna

thanks for your reply . the first letter says barclaycard have assigned my account to Asset Link Capital .
The lettter refusing my offer is from Link Financial.

redux

If it is still with Barclaycard and Link are just the agent, endeavour to speak to Barclaycard customer relations rather than the ordinary customer services.

For instance someone I know had a letter from Barclaycard early last year suggesting that a 75% settlement offer would be acceptable.

He rang up and said this just wasn't good enough. The cs person treated this as if it was a complaint and transferred the call to customer relations. It turned out they had discretion to accept 60% even without further discussion.

A couple of stay in touch chats on the phone through the summer, and eventually an offer was made and accepted at 50%.

The letter about this had a typing mistake transposing two digits, and on checking this on the phone they agreed to honour that, so it was about 47%.

So talk to cs, say you're not happy with the way this was handled, talk to complaints, and go from there.

Edit: oh, I hadn't seen your next reply when I started this. Maybe it's too late then, but who knows maybe still worth wasting a phone call.

fatbelly

So Link now own the debt and your 50% offer is more than reasonable.

Try a CCA request and see what comes back

3431Anna

Is there a template letter anywhere on the site to request a CCA

Thanks

3431Anna

On my balance of 1824.28 they refused 50% and say they will accept 1751.13, and they said its not worth making another offer as this is the amount they will accept

sourcrates

3431Anna wrote: »

Is there a template letter anywhere on the site to request a CCA

Thanks

Here you go :

https://forums.moneysavingexpert.com/discussion/709639

Flomar

Hi Anna,

Is it possible to tell me how is going to deal with Asset Link? Did the accept your offer? Or are you on payment plan with them? Is your interest frozen?

I've just received a letter from Asset Link to confirm that Barclaycard has assigned my account to them with an outstanding balance of £x,xxx. This happened just after Barclay agreed my payment plan with them and they promise won't sell the debt to another company. Is the anything that I can do, or just deal with Asset Link. But after reading all posts regarding this company, this doesn't look very promising.

Btw, what is CCA? How can this help me? Is anyone who can help me to deal with Asset Link? I haven't contacted them yet.

Thanks in advance for your help.

sourcrates

Flomar wrote: »

What is CCA? How can this help me? Is anyone who can help me to deal with Asset Link? I haven't contacted them yet.

Thanks in advance for your help.

When reading this forum, you may see advice suggesting sending a “CCA request”. This is a letter to a creditor or debt collection agency asking them for a copy of an executed credit agreement, without which a debt may be unenforceable. In simple terms, you are asking the Creditor/Collector to prove that they have the legal right to demand payment from you.

Sending a CCA request effectively puts the account into dispute, during which time the creditor may not take any further collection action. Without a valid agreement, the debt is unenforceable without a court order.

However, it is important to reaslise that lack of response to a CCA request may render a debt unenforceable, it does not cease to exist. This process can not, and should not, be used to evade debts.

When to send a CCA request


You should send a CCA request when you require more information about your account, or when you genuinely dispute a creditor’s right to collect an alleged debt. The process should not be used for the purpose of debt avoidance.

Please be aware that there are certain types of debt which will not be covered by the advice here, such as utility bills, bank overdrafts, CCJs and court fines.

Suggested template :


You can amend it as necessary.

Debt Collector,
Their Building,
Their Street,
Their Town,
AB1 2XY

Date

Dear Sir/Madam

Re:- Account/Reference Number 1234567890

I do not acknowledge any debt to your company or its clients. (delete this line if you are not disputing the debt)

With reference to the above agreement, I require you to supply the following documentation before I will correspond with you further on this matter.

1. You must supply me with a true copy of the alleged agreement you refer to. This is my right under your obligation to supply a copy of the agreement, under the legislation contained within s.78 (1) Consumer Credit Act 1974.

2. A full statement of account.

3. A signed true copy of the deed of assignment of the above referenced agreement that you allege exists.

4. A copy of any other documents referred to in the agreement.

I understand that under the Consumer Credit Act 1974 (Sections 77-79), I are entitled to receive a copy of our credit agreement on request. I enclose a payment of £1.00 which represents the fee payable under the Consumer Credit Act. Please note that under no circumstances should this payment be set aside any alleged debt. If you are unable to supply the documentation requested, this fee should be returned.

I understand a copy of our credit agreement should be supplied within 12 working days.

I understand that under the Consumer Credit Act creditors are unable to enforce an agreement if they fail to comply with a request for a copy of the agreement under these sections of the Act.

I look forward to hearing from you.

Yours faithfully

Flomar