Link Financial

What Should You Do if Link Financial Agents Attend Your Home?

If Link Financial agents visit your home, it's important to try not to panic. It can be a scary situation, but you should remember that you don't have to deal with them if you don't want to.

Debt collectors are often confused with bailiffs, but they're very different entities. Bailiffs have more legal jurisdiction and debt collectors are not allowed to mislead you by telling you that they're bailiffs. If they do try and mislead you in this way, you may be able to take legal action against them.

The most important thing is to try and stay calm throughout the debt collection process. If you don't want to deal with Link Financial when they attend your property, you can turn them away and refuse to speak with them. If you do want to arrange a repayment agreement with a debt collector, you should always check their ID and make sure they're certified to collect your debt.

You can speak to debt collectors through your door if you're concerned about letting them in. You can also ask them to contact you via phone or letter instead, if you prefer.

If you do decide to deal directly with Link Financial, you should be honest about your finances and let them know what you can and can't afford. They should then be able to set up an affordable repayment agreement for you.

Can Link Financial Force Their Way Into Your Home?

Debt collectors are not allowed to seize goods from you as payment towards your debt. People often confuse debt collectors with bailiffs (who are allowed to take goods), but they're completely different.

Bailiffs (otherwise known as enforcement agents) have different rules to debt collectors and will often collect different debts. The process may differ slightly depending on whether they're self-employed, instructed by a private company or hired by the council. They often work directly for the courts and can take your belongings if they're collecting for a debt that you are legally entitled to pay. 

Debt collectors are only allowed to take monetary payments towards your debts - this can be paid in cash, as a credit card payment, or paid in instalments. They'll usually allow you to set up a payment plan if you aren't able to pay the entire debt off at once. However, there may be additional fees added during the repayment period if you decide to go ahead with a repayment plan. If you do decide to pay a debt collector, you should check their identification first. You should also ensure you get a receipt.

If a member of Link Financial or another debt collector claims that they are acting as a bailiff, you may be able to take legal action against them, as this is illegal.

Can Debt Collectors Seize Your Goods?

A default occurs when you break the terms of your credit agreement. For example, you may receive a default notice if you're behind on your payments.

A default notice is something sent out by your creditors as a warning ahead of your account defaulting. You’ll get a couple of weeks to pay the outstanding payments before your account is impacted.

However, though you’ll still have a period of time to make the payments, it's still important to address the default notice as soon as it's arrived so that you’re fully aware of (and prepared for) any further implications should the debt not be paid off.

If you are unable to pay the required amount, you should contact your creditors quickly and explain the situation to them. They may be able to set up a further repayment plan to help you get back on track.

Alternatively, you could consider other debt relief options such as an IVA. If you've received a default notice and you'd like to find out more about how NDH Financial can help you, get in touch today!

Can You Write Off Your Debt with Link Financial?

You can write your debt off with Link Financial, however it's worth going through your options before making a decision. If you have the money available to pay off your debt when Link Financial contacts you, you may find it easier to pay them directly. However, you may incur further fees if you decide to write off your debt with a debt collector.

You could also consider contacting your original creditors and paying them off. They may even be willing to set up a regular payment plan with you, if you're not able to pay the full amount upfront.

If you're not in a position to be able to pay your creditors and you don't want to deal with debt collectors, you should research other debt solution options.

At NDH Financial, we offer a formal debt solution known as an IVA (Individual Voluntary Arrangement).