Link Financial - Reducing Payments

bcs7

I have a change in circumstances coming up so am in the process of trying to reduce all my payments on the debts. 5 are with Link and 1 with Intrum.
I called up Link to ask them to reduce the payments to and they basically said they wouldn't do it unless I filled in an expenditure form. I said I saw no need for that as I know how much I can afford and they were saying they needed to be sure that I can afford what is being proposed.
It seems they wouldn't go anywhere with it unless I either filled in their online form or sent it to them in an email.
Any ideas?

Grumpelstiltskin

How do you pay? Direct debit or standing order?

I would cancel all your payments to them and wait and see what they do.

You should be in charge f what you pay not them Your biggest mistake was phoning them, never speak to them.

gwynlas

They try and make you complete a SOA at least every 12 months.
I used to say that I had worked out my expenses and found that stressful enough.
Start paying them the amount you choose but be consistent and there will be little that they can do.

sourcrates

You pay what you can afford, you don`t ask their permission first.

You need to be using a payment method you control, not them.

tigergambit

Yes, just reduce your payments to a level you are happy with. They know there's a cost of living crisis, why do they think you would be exempt? Best to pay by standing order, keeps you totally in control.

Rob5342

I agree with the above, pay by standing order, change the amount when you need to and they just get what they are given. 

ManyWays

Also what sort of debts are these? If they are loans or credit cards, you could think about asking Link for the Conser Credi Act agreement for the debt; if they cant get it, the debt is unenforceable and you can simply stop paying it

MEM62

bcs7 said:

I called up Link to ask them to reduce the payments to and they basically said they wouldn't do it unless I filled in an expenditure form. 

It would appear that they are under the misconception that they have some control here.  They don't.  Pay what you can afford - you do not need their permission to change your payments.  

bcs7

Grumpelstiltskin said:

How do you pay? Direct debit or standing order?

I would cancel all your payments to them and wait and see what they do.

You should be in charge f what you pay not them Your biggest mistake was phoning them, never speak to them.

5 of the debts were being paid manually by card every month. 
1 (the biggest) was a direct debit but a few months ago I mistakenly paid it by card too so they got a double payment. I tried to bring it back in line with my other debts by cancelling the direct debit, which I thought would be ok as the due date was showing end of July (I thought because of the extra payment). I was then going to carry on paying the same amount from next month. Cancelling the direct debit made them put my account back into arrears and I got sent a letter and text. So the reason I called them was because I was pointing out they had got a double payment a few months ago and I wasn't in arrears.
I then said I needed to reduce all of my payments by half because my circumstances were changing soon.
That's when she wanted to do an expenditure check over the phone and said they wouldn't consider reducing payments unless I did it. I said I know what I can and can't afford so I don't need them to check it for me. But she wouldn't budge.

I'm sure I didn't have this hassle last time I reduced the payments, but I've since seen I can do it online through my account (which I suspect is how I did it last time).

bcs7

sourcrates said:

You pay what you can afford, you don`t ask their permission first.

You need to be using a payment method you control, not them.

I think when I got the letters about being in arrears I got worried that if I didn't come to an arrangement, they might go down the CCJ route. I'm currently paying all debts manually by card payment every month. The only 1 which was direct debit was the biggest which I've just cancelled and that was what initiated them to send me letters saying I was in arrears.

tigergambit said:

Yes, just reduce your payments to a level you are happy with. They know there's a cost of living crisis, why do they think you would be exempt? Best to pay by standing order, keeps you totally in control.

I think I'll go down the road of standing orders, which will be preferable to manually paying every month by card which is what I'm doing now.ManyWays said:

Also what sort of debts are these? If they are loans or credit cards, you could think about asking Link for the Conser Credi Act agreement for the debt; if they cant get it, the debt is unenforceable and you can simply stop paying it

I already asked for CCA's but Link have only had these debts for about 12-18 months and got them direct from the original creditor so they were able to produce them fairly easily.

Grumpelstiltskin

OK Don't pay any by direct debit, set up standing orders  for the amount you can afford to pay not what they want.

You are in charge not them.

Have they actually defaulted?