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Hello. I stumbled across this forum whilst searching for information about full & final settlement offers and I am hoping for a little advice.
I ended up in a bit of a financial mess a few years ago and ended up defaulting on 3 credit card accounts. 2 of these I’ve been paying off – arranged with the collection agencies since 2018/9. The monthly payments are affordable, and I am happy to keep paying these.
The third defaulted debt is my largest at approximately 10K. This was an account taken out in 2014 & originally a Fluid account that was transitioned(?) into a MBNA account. My credit limit was raised a number of times – it was 16K at one point but thankfully I never got up there! – and then eventually my repayments were so high I had 3 bounce in a row and the account was closed in late 2019 and sold on to Link.
It’s now 3 years later and I have been half-heartedly contacted a few times, which is confusing to me given the size of the debt. I did speak to them (over the phone, very briefly) a year or so ago but they wouldn’t proceed as my details weren’t correct (I 100% gave them the correct details). I have moved in this time but had mail forwarding set up.
I have recently received a letter from Link saying that they haven’t contacted me for some time (true) as they couldn’t confirm my address. They’ve asked me to contact them to let them know my ‘intentions’.
I don’t have enough in savings to clear my debts in full at this time, but I’m desperate to move on and put this all behind me. I’d like to start with this MBNA/Link balance as I absolutely do not want this going to court. My mortgage deal also ends within 12 months and like most people I’m already panicking about rates.
Should I be sending Link a CCA request before assessing my next steps? From what I’ve read online they are one of the worst companies for accepting F&F settlements.
Many thanks in advance; this is all new to me so any advice would be gratefully received.
I ended up in a bit of a financial mess a few years ago and ended up defaulting on 3 credit card accounts. 2 of these I’ve been paying off – arranged with the collection agencies since 2018/9. The monthly payments are affordable, and I am happy to keep paying these.
The third defaulted debt is my largest at approximately 10K. This was an account taken out in 2014 & originally a Fluid account that was transitioned(?) into a MBNA account. My credit limit was raised a number of times – it was 16K at one point but thankfully I never got up there! – and then eventually my repayments were so high I had 3 bounce in a row and the account was closed in late 2019 and sold on to Link.
It’s now 3 years later and I have been half-heartedly contacted a few times, which is confusing to me given the size of the debt. I did speak to them (over the phone, very briefly) a year or so ago but they wouldn’t proceed as my details weren’t correct (I 100% gave them the correct details). I have moved in this time but had mail forwarding set up.
I have recently received a letter from Link saying that they haven’t contacted me for some time (true) as they couldn’t confirm my address. They’ve asked me to contact them to let them know my ‘intentions’.
I don’t have enough in savings to clear my debts in full at this time, but I’m desperate to move on and put this all behind me. I’d like to start with this MBNA/Link balance as I absolutely do not want this going to court. My mortgage deal also ends within 12 months and like most people I’m already panicking about rates.
Should I be sending Link a CCA request before assessing my next steps? From what I’ve read online they are one of the worst companies for accepting F&F settlements.
Many thanks in advance; this is all new to me so any advice would be gratefully received.
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