Advice for Link Financial/Wescot Needed

Maggio

Hi All,

I have a debt from close to 15 years ago via a Barclaycard. Total is around £15,000.

I defaulted on it a long time ago and it eventually moved to Link Financial. Wescot are managing it on their behalf.

Around 7 years ago, I agreed with Wescot to make a monthly nominal payment (£1). I’ve been doing this ever since.

I did request the documentation from Link around 4 years ago and all paperwork was provided so this seems to be enforceable but the debt has dropped off my credit file now.

I spoke to Wescot yesterday and offered £4,000 to settle but they are saying they can only accept a 5% reduction which is still closer to £14,000 and is not achievable.

Has anyone experienced similar or dealt with Wescot/Link in the past? I hardly hear from them other than Wescot like to do a review of finances once/twice a year.

Thanks

fatbelly

This illustrates why token offers are a short term strategy. You have been continually acknowledging the debt by your payments, without making significant inroads into it.

You say the debt dates from 15 years ago and you have been making payments for 7 years. Was there ever a period of 6 years when you did not acknowledge the debt by payment or in writing?

Maggio

No I’ve always pretty much paid something and the past 7 years have just been the token payment.

Ive done it because I didn’t want to go down the route of potentially going to court given they have all the documentation and the debt is enforceable. As I said, I never really hear from them so that suited me but I was hoping I could get rid of this once and for all but they are seemingly unwilling to budge.

Clive1980

Maggio said:

No I’ve always pretty much paid something and the past 7 years have just been the token payment.

Ive done it because I didn’t want to go down the route of potentially going to court given they have all the documentation and the debt is enforceable. As I said, I never really hear from them so that suited me but I was hoping I could get rid of this once and for all but they are seemingly unwilling to budge.

Hi

Did you make any progress with this?  Seems like I'm in a very similar situation 

Grumpelstiltskin

Clive Maggio hasn't been on line since last April so little chance if getting a reply.