Link Financial - payment plan?

Cometstoast34

Hi guys

So my Lloyds Bank Loan finally officially defaulted and the debt has now been sold to Link Financial. I have set up a standing order for £15 a month to them which is all I can afford at the moment. They recieved my first payment and it's showing up on the online portal.

Today I received this email from them, they seem to be trying to get me to set up a direct debit rather than standing order. I would rather stick paying via standing order as it means I'm in control, do I have any obligation to set up a formal payment plan with them via DD or can I just continue to pay via standing order? They've phoned my twice (both ignored) and now this email. I'm happy to submit an income & expenditure form to them. Just wanted to check what the best course of action is.

Thanks in advance.

Rob5342

You can just email them and say what you will be paying and say you won't be submitting an income and expenditure form. If they make too much fuss then you can just make one up to shut them up, it just needs to sound plausible and arrive at the figure you want to pay. That's all I did, they grumbled a bit and said they could only accept it on a concessionary basis and then left me alone. I think they often just want some record of what you will be paying so they know who to nag and who not to.

Keep paying by standing order, they obviously prefer direct debit as it makes it more difficult for you to change.

Cometstoast34

https://forums.moneysavingexpert.com/discussion/comment/81883017#Comment_81883017

Ah right ok, I'll do that. Thanks for the help!