Affordability Reviews

phoenixm34

I have been paying Link Financial (I believe Virgin Money sold the credit card debt on to them) for about 4 years, and I have recently been receiving texts saying I need to complete an affordability review, as it's been 12 months since my last one.

I'm 99% certain that I've never had an affordability review with them in all the years I've been paying them, and my circumstances haven't changed, so my question is do I have to do one (I'd rather not, and would rather continue paying what I have been paying)?

National_Debtline

Hi phoenixm34


Welcome to MSE. It's very normal for creditors and debt collection agencies (DCAs) to want to review your financial circumstances. They want to know if you're in a position where you can afford to pay more towards their debt.


Whilst you don't have to agree to provide the information, you run the risk that they would be more likely to take further action against you if you don't, for example applying for a CCJ. If your circumstances have not changed since the last time you made them an offer it's likely your payments will remain the same.


Susie
@natdebtline

sourcrates

Affordability is the key word these days.

It works both ways as well, they may say your paying too much, and reduce your payment accordingly, it has happened.

phoenixm34

Thank you both. I’ll get in touch and provide the required information.