Help needed

Mark80 · 2 January 2017 at 9:41PM

Hi,

I am a new member and a little bit confused. I have some financial difficulties and for a few months I thought can handle it.

First problem:
- received a letter from Asset Link capital: ,,we are writing to confirm that Barclaycard has assigned your account to Asset Link Capital (no 5) Limited on date xx with an outstanding balance of £xxxx,xx. ALC5 have appointed Link Financial Outsourcing Limited to service your account on their behalf. You can contact Link using details below: ...
As you are no longer making the agreed repayments it is important that you contact Link to discuss your intentions regarding your account. .....'' and this continues.

In the same envelope one more letter from Barclaycard: ,, we are writing to let you know that we've closed and transfer your account to a company called Asset Link Capital (no 5) Limited. '' and the same this continues.

What does it mean? The sold my account or they just take care of it? The sent this letter after one week after agreed with Barclaycard to make a £10 pounds payment and they said won't sell the account at least for one year if I make the payments.

How can I deal with this? Who should I send that letter? Can I reclaim Barclaycard because they offered me the card when I had financial problems and I used their credit card to cover my payday loans? When I received the card, the amount was triple from what they said on the application.

One more thing. I have also a personal loan with HSBC also defaulted because I didn't pay for 6 month. What should I do in case they want to sell the debt to DCA. I want to avoid this thing.

And plus I have quite a few payday loans but I have personal debt management plan with them.

Thanks
Mark

sourcrates · 2 January 2017 at 10:23PM

Hi,

Yes barclaycard have sold your account to Link.

This happens on a regular basis, it's a business decision over which you will have no control.

If you have other debts, you would be best served getting in touch with a free debt charity such as stepchange.

Get all your debts placed in a debt management plan, it would make life so much easier for you.

runforlife · 4 January 2017 at 10:47AM

The first thing that struck me was exactly what our resident expert Sourcrates said. Put all your debts under ONE debit management plan. Life would certainly be a lot easier then.