Link Financial Full and Final settlements

louie111

Hi everyone

hope you doing good in these testing times. Ok so I have a couple of debts with link financial and I am looking to do f + f settlements. These were originally with Halifax, 15000, 3000, 2500. Halifax offered me f + f of 7500 for the 15000 but I didn’t have the funds available at the time. Subsequently sold to link financial who told me their max discount is 30% which results in f and f of 10800. Pain in the butt I know. Just wondering if this is true or are they just using it as a negotiating tactic with me? Anyone been able to get below 70% f and f with link? Any advice. 

Cheers

fatbelly

They are difficult to negotiate with but if you just keep offering 50% you'll get there eventually.

I did have a link to a poster who did well with Link. If I can find it again I'll post it

Edit: he got 55% with Link

https://forums.moneysavingexpert.com/discussion/comment/69978335#Comment_69978335

Have you done cca requests on  these three?

louie111

fatbelly said:

They are difficult to negotiate with but if you just keep offering 50% you'll get there eventually.

I did have a link to a poster who did well with Link. If I can find it again I'll post it

Edit: he got 55% with Link

https://forums.moneysavingexpert.com/discussion/comment/69978335#Comment_69978335

Have you done cca requests on  these three?

Hi thanks for taking the time to reply.

Oh that’s promising, the debt is actually with Wescot but they collect it on behalf of link I believe. They said that link only offer 30% reduction so thanks for sharing the post.

in terms of CCA, I haven’t, no - I defaulted in these debts with Halifax around 2 years ago and link bought them roughly 6 months ago so I assume that it would be easy for them to retrieve CCA? I am trying to avoid them going to CCJ stage at the moment so could asking for that encourage them to go down judgement route?

again, thanks for taking the time to respond.

Suseka97

Anyone is entitled to submit a CCA request and this will have no impact on how Link (or Wescot) manage the collection of this debt.  So you have nothing to lose by submitting the request and possibly more to gain if they are unable to locate the paperwork.  

fatbelly

I'm not saying that Link never take court action but they hardly ever do. Don't worry about that.

Old_Grey_Mare

I’m negotiating with Link on behalf of my daughter. Her debt is £2200 and Link have said they’ll settle for £1000. I’m hoping they will settle for less and will contact them in a few months time.

louie111

Old_Grey_Mare said:

I’m negotiating with Link on behalf of my daughter. Her debt is £2200 and Link have said they’ll settle for £1000. I’m hoping they will settle for less and will contact them in a few months time.

Thank you - can I ask how old this debt is with link? 

[Deleted User]

Old_Grey_Mare said:

I’m negotiating with Link on behalf of my daughter. Her debt is £2200 and Link have said they’ll settle for £1000. I’m hoping they will settle for less and will contact them in a few months time.

Actually, that's a pretty good discount from Link.  they aren't known for being generous!  They normally start a lot higher than that, often a discount of about 30% and you don't say if this was your first offer or some way down the line and you've already got them down.  Worth a wait and then try again but it would be very unusual for them to go really low.

Good luck!  Let us know how you get on.

fatbelly

Yes that's a good deal from Link and more evidence that the goalposts are moving on F&F deals.

Old_Grey_Mare

Louie111

it was assigned to Link in 2016.

Old_Grey_Mare

Delichon said:

Old_Grey_Mare said:

I’m negotiating with Link on behalf of my daughter. Her debt is £2200 and Link have said they’ll settle for £1000. I’m hoping they will settle for less and will contact them in a few months time.

Actually, that's a pretty good discount from Link.  they aren't known for being generous!  They normally start a lot higher than that, often a discount of about 30% and you don't say if this was your first offer or some way down the line and you've already got them down.  Worth a wait and then try again but it would be very unusual for them to go really low.

Good luck!  Let us know how you get on.

Delichon said:

Old_Grey_Mare said:

I’m negotiating with Link on behalf of my daughter. Her debt is £2200 and Link have said they’ll settle for £1000. I’m hoping they will settle for less and will contact them in a few months time.

Actually, that's a pretty good discount from Link.  they aren't known for being generous!  They normally start a lot higher than that, often a discount of about 30% and you don't say if this was your first offer or some way down the line and you've already got them down.  Worth a wait and then try again but it would be very unusual for them to go really low.

Good luck!  Let us know how you get on.

I had written to Link several times offering £500 but had not had a reply until a few weeks ago. They wanted to know where the £500 was coming from. I responded and was quite hopeful and then they wrote to say they couldn’t accept £500 but would accept £1000.