Help with Asset Link Capital

alhggyb

After using this forum to clear up problems with Mackenzie Hall, I have now been lumbered with a problem with Asset Link Capital.

I had a letter from them a couple of months ago stating I owed them money and to get in contact with them There was nothing in the letter to state who the debt was with or how much it was. I got another letter a month later, and then sent them a letter asking for a copy of the credit agreement and statement of account.

I received said copies this morning and was shocked by what I saw. Yes, the debt is a joint loan my ex partner and I took out 11 years ago in 1997 for a kitchen improvement on our house at the time. The original loan was for £4540. According to the statement, it currently stands at £29,793.75!!!!!!!! I can settle £10,885.11 in 28 days.

First thing is the last payment they received was August 2004. We were actually only paying a small amount at that time as we were both unemployed, and had already been to court about the debt, and this is what we agreed to pay each month. We were told that the loan (unsecured) was going to be attatched to our property so in the event we sold it, any profit we took would be used towards the loan. This was done in July 2002.

Now, we split up and sold the house in August of 2004, but when the solicitor did a search of anything held against the house (apart from the mortgage) there was nothing. I gave my ex a huge share of the profits as the children were staying with her and she then moved to Ireland with them. Part of the money I gave her was suppossed to pay this loan. It never did though (stupid me.)

I basically need some help as to what to do now. I got my credit stuff a couple of months ago from the 3 CRA's, and this loan wasn't on any of them. How come when the last payment they received from me was only 4 years ago? Also why the hell were they still dumping interest and Fee charges on our account after the court agreement. I'm pretty sure the Judge froze it (though I can't be sure as I have no copy of it!!!!)

If anybody has any suggestions please point me in the right direction. My current partner is panicing a bit and I don't blame her.

GeorgeUK

It might be worthwhile doing a subject access request to the original creditor and getting in touch with the solicitor you had. There should be same liability on them as they were being paid to deal with all this stuff and something has obviosly gone wrong.

It may be that the original creditor were supposed to register the debt against your property, but never did the paperwork. Not sure where this leaves you in legal terms, but you shouldn't need to pay for their mistake.

alhggyb

The court hearing was standard one for failure to keep up on payments. I didn't have a solicitor to represent me. Is there any way I could track down what actually happened in court that day as I have no recollection of what really happened apart from me agreeing it was our debt??!!

GeorgeUK

I actually meant the solicitor that was dealing with the house sale.

It may be worthwhile phoning the court you attended to see if there is a record that you can see.

kel123_2

I have a somewhat similar issue with link? Link bought my loan off GE Capital Woodchester in 2006, I have checked experian and GE must have removed their bit in 2006 because there is no evedance that it existed. But there is no mention of Link at all. I am in the process of looking up the other 2 cra's. Now I have got a few issues with the CCA they provided and I am now looking into if link ever had the rights to claim money off me? If they haven't I intend to try and reclaim what I have paid to them. Link have a reputation of being 'chancers' i.e. trying were other have left well alone.

alhggyb

My original loan was with First National. I/we defaulted 2 years after we took the loan due to joint unemployment. I've no idea when Link took over the loan, but as I said we went to court about the loan in 2002. I've emailed the court to see how I can go about getting a copy of the record of the proceedings.

As for there being no record on any of the CRA's.....pass.

alhggyb

I've just realised something. If the court record comes back with saying they were allowed to put an order against our property, and I check and found out they didn't, doesn't that mean it was the loan company who was at fault and that the loan can be be technically written off. If they had done the order, then the loan would have been paid off when we sold the house. It's not my job to go and chase things like this.

Any comments?

kel123_2

yes there is, other who haven't paid after 6 years have had it statute Barred (england, 5 for scotland) but alass you paid in 2004. they couldn't have got a charging order maybe it was just a judgement? Like me there should be something on your crf?

alhggyb

Right. I contacted the court that dealt with this back in 2002 and was told that I need the case number before they can do anything. I don't have anything about this in writing and it does not show up on any of my credit reports (from 3 months ago.) I was told by the court that I would need to get in contact with the original lender or their solicitor to get the number, as there is no other way to get it.

I'm kinda stumped now. If they can't or won't supply the case number, I have nothing to show what, if any, judgement was ruled back in 2002.

Anybody got any advice please

GeorgeUK

A subject access request?
They are supposed to provide a copy of all information they hold on you (for the past 6 years) so hopefuly this would include the court details. It would cost £10 to do a SAR though. I'd try phoning them first.

kel123_2

There is a website (I can't remember were I read it) that lists ccj's it may be worth searching for it