Halifax Credit Card Debt Sold

[gum]

Hi All! I just need some help. My friend had Halifax credit card and he defaulted and had been pay £10.00 a month as agreed by Halifax. He had been paying this for over 10 years and the debt has been sold Link financial and he had received letters from Halifax and Link Financial stating Wescot is currently managing the account, future payments of must be directed Wescot. It also states that your existing repayment plan will continue to be honoured and reviewed within agreed timescale. Any advise, if Halifax has sold the debt, where does my friend stand?

[PallasAthena]

Essentially nothing changes other than who your friend now pays the installments to. Halifax (the original creditor) are entitled to sell ("assign") the debt to someone else, Link Financial - the debt buyer, and Link take over all the rights that Halifax had. They have to give formal notification of the "assignment" of the debt but it looks like that has been done correctly.

However what might happen is that Link will at some point in the future try to increase the monthly payments but they will need to ask your friend for updated information on his income and expenditure before they can do this. That's what they mean by "your existing repayment plan will continue to be honoured and reviewed within agreed timescale."

[echat11]

Your friend could find out if the account is 'enforceable', see if the Creditor
can provide a valid / compliant CCA agreement.

That may give you further options. Make sure you get Proof of Postage.

https://legalbeagles.info/library/gu...etter-example/