Credit card debt sold to link

richard_1209

Hi all - hoping for some advice,
I am sure there are many comments on the site however I’m struggling to find any insight.
Marbles and Aqua credit card debt has been sold to Link Financial Outsourcing.
I haven’t been connect by Link yet so they will not discuss with me but I just wondered that monthly payments they would be expecting from me? Would the requirement be my previous monthly minimum payment?
we have previously expected financial difficulties and had payment plans in place so assume they will have to honour those for the period previously agreed?
thank you so much so any insight, Richard 

eskbanker

Are you saying that there are currently payment plans for these cards, and if so, have you been complying with them?

richard_1209

Yes - repayment plans in place and following however they have told me today that they have sold the debt to link. Not sure if link will continue to adhere to the repayment plan I have with the previous lender or what monthly payment they will expect to receive? Would it just be the previous min monthly payment amounts on any credit card?

eskbanker

I don't believe there's any obligation for Link to honour arrangements you'd previously had, but it's not unreasonable to ask them to.

sourcrates

This would ideally have suited posting on the debt free wannabe board, but I can answer your question for you.

Lenders do not hold on to bad debt accounts for very long, and its quite common for them to be sold on to 3rd parties.

Link will have no knowledge or have any interest in any agreement you had previously with the original creditor.

What they will do is write to you, the letter will contain various methods of payment they will accept, best to pay via their website, either by online banking or standing order.

You pay them what is affordable according to your budget, if Link want more, offer to show them a copy of your budget to show that what you are paying, is what you can afford.

You are in charge of your money, not Link.

Have these debts defaulted yet?