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Is there anything I can do about this debt? - time limits/enforceability

strenger
Posts: 19 Forumite

I am currently paying a small token payment monthly to Link Financial for a debt that would have been incurred over 20 years ago now. To be honest I can't even remember what it's for. The remaining balance is several thousand pounds. Due to life circumstances I will never be able to repay the full amount or settle for an amount they would agree to.
I've read that you can send a letter asking them to prove you owe the money, but if you've made payments it 'acknowledges the debt' or something like that.
Am in a position to send such a letter to them? Or is there anything else I can do?
I've read that you can send a letter asking them to prove you owe the money, but if you've made payments it 'acknowledges the debt' or something like that.
Am in a position to send such a letter to them? Or is there anything else I can do?
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Comments
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You can't remember what it was but there is a good chance this was a consumer credit act debt like a loan or credit card.
You could make a formal request for a copy of the original agreement. If they can't provide it you can stop paying.
https://nationaldebtline.org/get-information/sample-letters/information-about-your-agreement-under-consumer-credit-act/2 -
Thank you. The £1 was an unexpected snag, I've had to ask for a cheque book from my bank. Apparently postal orders can't be bought online, and it's probably not a good idea to send coins in the post0
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It's a bit of an antiquated law given that nobody uses cheques any more but that's the way it is unfortunately. Some companies just aend the cheque back, presumably cashing it isn't t worth all the hassle for them.
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strenger said:Thank you. The £1 was an unexpected snag, I've had to ask for a cheque book from my bank. Apparently postal orders can't be bought online, and it's probably not a good idea to send coins in the post0
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fatbelly said:strenger said:Thank you. The £1 was an unexpected snag, I've had to ask for a cheque book from my bank. Apparently postal orders can't be bought online, and it's probably not a good idea to send coins in the post1
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They sent me a letter returning my postal order, saying they no longer require a fee for a Section 77-79 request. At the top of the letter was an originator (name of the bank) and associated sort code and account number. There was no other info regarding my request. Is that it? Or should I expect more?0
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What type of debt was it, credit card/loan??
If it was a bank account, then sec 77 does not apply.
From your post it sounds like a bank account?I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0 -
sourcrates said:What type of debt was it, credit card/loan??
If it was a bank account, then sec 77 does not apply.
From your post it sounds like a bank account?
What you mean when you say section 77 wouldn't apply?0 -
A CCA request only applies to consumer credit act agreements, loans/credit cards/catalogue accounts etc.
A correct response would be a copy of that credit agreement.
It does not apply to bank accounts/overdrafts.
Does the letter specify what type of debt it is/was?I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0 -
sourcrates said:A CCA request only applies to consumer credit act agreements, loans/credit cards/catalogue accounts etc.
A correct response would be a copy of that credit agreement.
It does not apply to bank accounts/overdrafts.
Does the letter specify what type of debt it is/was?
I'm wondering if I should call them to ask if I can expect any further response to my request.0
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