IDR Finance - HUGE Debt !

[jus71n]

Hi

I have recently signed up to this forum, as i am quite worried about my future.
I have read through a lot of the forum, regarding sending in letters etc. but they all seem to be for debts upto £10,000.

I was in debt to Virgin MBNA for £25,500, paying them £80 a month as an agreed amount for 6 months.
We were in negotiations to settle the debt for £10,000, but whilst I was trying to raise the money, they sold the debt to IDR Finance ??
So I now have a letter from IDR stating that " we at Link Financial Outsourcing " (which is confusing), they want me to carry on paying £80 a month under the terms of an informal agreement for the next 6 months and that I owe them £25,524.57.

So, can I still use your 3 letter system for this amount of debt, or are they just going to laugh at me ?
I can't imagine that they will just take this lightly.

Whilst the money owed was with MBNA I didn't feel too bad, but now that it has been sold, I am so worried that it is now affecting my health and my marriage.

Please advise my best options ??

Many Thanks

[GANGSHIELD]

Hi

I have recently signed up to this forum, as i am quite worried about my future.
I have read through a lot of the forum, regarding sending in letters etc. but they all seem to be for debts upto £10,000.

I was in debt to Virgin MBNA for £25,500, paying them £80 a month as an agreed amount for 6 months.
We were in negotiations to settle the debt for £10,000, but whilst I was trying to raise the money, they sold the debt to IDR Finance ??
So I now have a letter from IDR stating that " we at Link Financial Outsourcing " (which is confusing), they want me to carry on paying £80 a month under the terms of an informal agreement for the next 6 months and that I owe them £25,524.57.

So, can I still use your 3 letter system for this amount of debt, or are they just going to laugh at me ?
I can't imagine that they will just take this lightly.

Whilst the money owed was with MBNA I didn't feel too bad, but now that it has been sold, I am so worried that it is now affecting my health and my marriage.

Please advise my best options ??

Many Thanks

Send the letters to them, keep to the 10 days time period. I would suggest. sold for pence, did you get a propper assignment letter?

[ceylon]

yes you can use the letters maybe look at common law copywrite as well as its a high amount

[stoneybroke]

mine are for 44 thousand dollars plus

[jus71n]

All I have at the moment, is a letter stating my rights and how much I owe and now a reminder stating that my £80 payment is overdue ! If I don't make the payment now, then the £80 agreement will be cancelled and the full £25,524.57 due in full.

But I have not received any calls yet ?

I will get the letter sent next week and look into the copyright idea, as I know nothing about that one ??

[GANGSHIELD]

Read and re-read introduction, then go through the copyright notice thread, study and make sure if you complete the agreements etc that every word is correct i.e. being female/Male etc is corrected to which you are, double/triple check the whole letter/ declarations and follow the time scales.

[carlos730]

1st off welcome jus71n

don't worry about the amount you owe and start being more confident in this process
start to fight back & your life will be so much better when you get it all in perspective
stop stressing about the scum leaching off you has this debt been sold or are they acting on behalf?

[jus71n]

Ok, in response to a couple of your questions, this is the letter that I have :

" We, Link Financial Outsourcing Limited (LINK), hereby give you notice that on 29 March 2012 MBNA EUROPE BANK PLC (MBNA) assigned to us the benefit of the debt that you owe to them under an agreement with the reference number set out above and with the balance of £25,524.57. Furthermore on 29 March 2012 Link Financial Outsourcing Limited assigned the benefit of your debt to IDR Finance UK Limited.

As a result of this assignment your debt is now owed to IDR Finance UK Limited an Link is acting as a servicer for your debt. All payments should be made to Link at the P.O box shown above. Please ensure that you quote the reference number when remitting payment. No further payments should be made to MBNA and any payments made by you to them will take significantly longer to process onto your account. "

So just to check, which one should I be sending the letters to ? IDR or Link ??

[hdjmings1]

they are acting as two different company's so i would treat them as two different company's so i would send to both

[carlos730]

they are acting as two different company's so i would treat them as two different company's so i would send to both

Yes send to both and copyright your name they will soon owe you more than you owe them