Link Financial outstanding debt

Old_Grey_Mare

My daughter took a loan out in 2011. She defaulted in 2015 and the remaining debt was sold to Link in 2016. She admitted her financial problems to me in 2019 and I started contacting various debtors asking for a copy of the CCA. Link is the only company to provide this and I have spent several years trying to negotiate a settlement with them. The latest offer of £500 against a debt of £2000 has been refused. Do I now make a higher offer or is the debt in fact statute barred? 

Thanks for any advice.

fatbelly

Well the starting point for the ticking clock is settled by court case as the default date

So the question is whether, in the intervening years, you have acknowledged the debt

(a) by payment or
(b) in writing

(Also if it is not your debt, were you acting as the debtor's agent)

If you use the national debtline template letter to negotiate settlement then it is headed 'without prejudice' and cannot be used in a court case.

I'd suggest, next time they write, send the statute barred letter and take it from there

Old_Grey_Mare

Each time they contacted my daughter asking for payment, I responded with an offer, so unfortunately I have been in regular communication with them.

fatbelly

This is the template to make an offer

https://www.nationaldebtline.org/sample-letters/full-and-final-settlement-offer/

Old_Grey_Mare

fatbelly said:

This is the template to make an offer

https://www.nationaldebtline.org/sample-letters/full-and-final-settlement-offer/

Thanks for that.

Old_Grey_Mare

Excuse me being a dope, but I have used that template. After I’ve submitted it, I then get a response from them asking where the funds are coming from. I reply that it’s a gift from mum (me). A few weeks later this is rejected. Shall I just keep upping the offer or wait a few months and try submitting the same offer?

EssexHebridean

Sit tight and wait - if you keep upping the offer that sends a message that there are more funds to be had if they wait long enough. 

fatbelly

When you make the next offer, point out how generous this is as it is now a statute barred debt under s5 of the Limitation Act 1980.

They might object but the fact you're stating that adds an element of doubt about whether they will ever get the full amount on this

Old_Grey_Mare

EssexHebridean said:

Sit tight and wait - if you keep upping the offer that sends a message that there are more funds to be had if they wait long enough. 

That was my way of thinking as well.

Old_Grey_Mare

fatbelly said:

When you make the next offer, point out how generous this is as it is now a statute barred debt under s5 of the Limitation Act 1980.

They might object but the fact you're stating that adds an element of doubt about whether they will ever get the full amount on this

Is it statute barred even though I’ve acknowledged the debt and made them an offer? Thanks

RAS

No, it's not. Every time you a knowledge the debt, you reset the clock. So 6 years from when you last contacted them, assuming your are acting with your daughter's consent. 

So stop dealing with them.