Link financial have ruined my credit rating

[Gassey713]

Hi all, I'm new to this forum thing but here goes. Had Barclay credit card which I got into trouble with around 5 yrs ago(my fault). Link financial took over the debt, an agreement was made with them to pay a set amount each month. I've stuck to the agreement without fail and been paying all these years . On checking my credit file I noticed link financial have been marking my file as late every month. Making it impossible to get credit. This does not seam right. Not sure what to do about them as I've heard they are not good to deal with.

[nemesis45]

Re: Link financial have ruined my credit rating

Hi all, I'm new to this forum thing but here goes. Had Barclay credit card which I got into trouble with around 5 yrs ago(my fault). Link financial took over the debt, an agreement was made with them to pay a set amount each month. I've stuck to the agreement without fail and been paying all these years . On checking my credit file I noticed link financial have been marking my file as late every month. Making it impossible to get credit. This does not seam right. Not sure what to do about them as I've heard they are not good to deal with.

Good morning,

Does the credit file show the default date for this debt?

A default entry on credit files will have the same effect as the late payment markers when it comes to getting further credit.

As you are probably aware all defaulted accounts are removed from credit files 6 years from the default date paid or not.

nem

[Gassey713]

Re: Link financial have ruined my credit rating

Thanks for reply, checked credit file again, it shows card account started 31.03.2005. Current status 6 months late. As said since link took over I've not missed a payment.

[Gassey713]

Re: Link financial have ruined my credit rating

Thanks for reply, checked credit file again, it shows card account started 31.03.2005. Current status 6 months late. As said since link took over I've not missed a payment.

[nemesis45]

Re: Link financial have ruined my credit rating

Thanks for reply, checked credit file again, it shows card account started 31.03.2005. Current status 6 months late. As said since link took over I've not missed a payment.

Has this account actual been defaulted? If not this " late payment status" should be challenged, because it places you at a disadvantage when compared to a person who has made no effort to repay a debt yet has it removed from credit files after 6 years have elapsed from the recorded default date, where as " late payment" entries can continue as long as the current owner wishes.

nem

[warwick65]

Re: Link financial have ruined my credit rating

Hi Gassey

Just a thought
Did barclaycard default the account before they sold it to Link - if this was more than 6 years ago then it may not appear on your file anymore but if less it might appear in the 'closed' section of your credit report

I had a look at the FCA permissions and as far as I can see Link do not have permission to provide credit so unless the agreement was defaulted or contractually terminated , I don't think they should own it

How much longer have you got paying before the balance is paid off?

Another quick question, when was the account opened and who was it with- was it B/card originally - I know they bought several brands at one point, egg and Marbles are two that spring to mind

[Gassey713]

Re: Link financial have ruined my credit rating

Hi Nem
Thanks for reply. Yes it was a Barclay credit card started 31.03.2005 on my credit file it shows it as closed 21 October 2011

[warwick65]

Re: Link financial have ruined my credit rating

Hi Nem
Thanks for reply. Yes it was a Barclay credit card, on my credit file it shows it as closed late October 2011

So there is a default date from Barclaycard?

[Gassey713]

Re: Link financial have ruined my credit rating

Hi Nem
It was a Barclay's credit card started . On my credit file it shows as closed late October2011. At current rate will be another 5 yrs

[Gassey713]

Re: Link financial have ruined my credit rating

The credit file shows account open and closed dates. Yes my default was with Barclay's before link took over the debt, as stated I've not missed a payment since link took over

[warwick65]

Re: Link financial have ruined my credit rating

If there was a default with BC that should then carry on with Link until 6 years after the original default date.
.

[nemesis45]

Re: Link financial have ruined my credit rating

The credit file shows account open and closed dates. Yes my default was with Barclay's before link took over the debt, as stated I've not missed a payment since link took over

Good Morning,

From the details you have posted so far it seems to me that the account was sold 1.without being defaulted or 2. Link have " chosen" not to register the account as defaulted just to keep the debt live on your credit files.

My suggestion is to phone BC and see if they can confirm the status of the account when it was sold to Link.

nem

[Gassey713]

Re: Link financial have ruined my credit rating

Thank you both for your replies, will try bc, probably a lot more helpful than link. If not then 6 yrs is no far away

[Diana M]

Re: Link financial have ruined my credit rating

From the details you have posted so far it seems to me that the account was sold 1.without being defaulted

The OP has posted that Barclaycard defaulted the account before it was assigned to Link

Yes my default was with Barclay's before link took over the debt

Di

[nemesis45]

Re: Link financial have ruined my credit rating

Thank you both for your replies, will try bc, probably a lot more helpful than link. If not then 6 yrs is no far away

If the account remains open and active as it seems to be it's not going to drop off the credit files and cannot be statute barred because of the continuing payments, which is why contacting BC to ascertain the date the account was actually defaulted.

It's possible to get this rectified on ground that it is unfair meaning the debt will be removed from credit files after 6 years from said default date.

nem