Navigating the maze of debt can feel overwhelming, especially when faced with agencies like Asset Link Capital.
You might be wondering, “Do I really have to pay Asset Link Capital Debt Collection?” The answer may surprise you – not everyone is obligated to. However, ignoring them isn’t an option either. Keep reading to receive guidance on this process.
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Who are Asset Link Capital?
Asset Link Capital is a well-known debt collection company based in London, UK. They primarily operate by buying bad debts from various lenders and finance institutions, only to pursue individual debtors for recovery.
This debt collection company is divided into different sections. This includes:
All parts of this company are linked to the Link Financial Outsourcing Ltd group. This is an organisation that was incorporated back in 1998 and has multiple companies across Europe. Asset Link and Financial Outsourcing Ltd group work together and focus on purchasing debt along with loan and standby servicing.
What are Asset Link Capital reviews like?
Like any debt collection agency, reviews about Asset Link Capital are mixed. Some people find their approach firm but professional, while others describe their experiences as daunting and stressful.
Remember, their main role is to collect debts, which can sometimes seem persistent and rigorous. However, they must also operate within legal frameworks and respect your rights as a debtor. Some of their reviews are as follows:
My loan was originally with Marbles but was sold off to Asset Link for reasons unknown. I requested a settlement figure recently and received one a few days later. I cleared the loan figure by bank transfer and received a confirmation email stating the loan was now paid in full. The staff were friendly and the transaction was painless. I can only say I had nothing to complain about and thanked the staff for their help… read more
Kevin Taylor (Trust Pilot)
Spoke with someone today about my debt today and told them I am trying to sort out an IVA so would appreciate if they voted in the meeting of creditors. I was told that as a company this isn’t something they do! How socially irresponsible… read more
Anonymous (Trust Pilot)
Dreadful company. I paid my loan balance & left it to run the rest of the term at £14 a month to pay their ludicrous early repayment penalty & whole month later they still haven’t changed the Direct Debit amount & have taken £362 from my bank…read more
Alison (Trust Pilot)
Who do they collect for?
Asset Link Capital purchases debts from a range of creditors. These could include banks, credit card companies, and other finance firms like:
- Shawbrook Bank
- Esme Loans
- New Day
- Capital One
- GE Capital Woodchester
- First National
- Co-operative Bank
- Shawbrook Bank
- Barclaycard
So if this company contacts you, it means one of your creditors has sold your debt to them. So legally, Asset Link owns your debt now. However, it’s crucial to verify the authenticity of your debt and its original lender before agreeing to any repayment terms. Miscommunication or misidentification of debt can lead to unnecessary complications.
What rights does Asset Link Capital have?
Asset Link Capital, like any other debt collector, is guided by the stipulations of the Consumer Credit Act. They should always follow the rules :
- Credit Services Association (CSA)
- Financial Conduct Authority (FCA)
They’re allowed to track down debtors and get them to pay. If debtors don’t corporate, they also have the right to apply for a County Court Judgement (CCJ).
Nonetheless, they are obligated to provide conclusive proof of the debt and respect your rights during the process. Any perceived violations can be reported to the FCA or the Financial Ombudsman and may have serious implications for the agency.
They have the right to contact you through letters, emails and phone calls. If you don’t respond to them, they can come to your house. But they cannot enter. If you tell them to go, they should.
Asset Link Capital Contact Details
In case you need to reach Asset Link Capital, they provide multiple avenues for contact. These include various phone numbers and emails tailored to your original lender. They also have a dedicated contact page on their website.
If you prefer traditional mail, their postal address is PO Box 255, Caerphilly CF83 9FF. All other contact details of Asset Link Capital Debt Company is mentioned in the later part of this article.
Why are they getting in touch?
If Asset Link Capital is contacting you, it’s typically because they believe you owe a debt that they have bought. You might have overlooked a payment, or maybe there’s been a mistake in their records. It’s absolutely necessary to respond to their communication promptly and clarify the situation.
The Asset Link agency specialises in purchasing debts. This takes place when the original owner of the debt decides to sell the debt to a collection agency. It mostly happens if you ignore calls and letters from the creditor and you don’t make attempts to pay.
Thus now, you owe a debt collection agency and not the original creditor. So this is why this debt collection company is contacting you.
Are they trustworthy?
Yes, Asset Link Capital is a trustworthy company as they operate as a licensed debt collector in the UK. They are also registered under the following:
- Financial Conduct Authority (FCA)
- Credit Services Association (CSA)
So they are supposed to follow the legal standards and obligations. They should conduct their service in a way that it is:
- Legal
- Fair
- Transparent
If they don’t abide by this, they will face serious consequences such as regulatory action and even fines.
What rights do I have?
You have the right to request conclusive proof of the debt and fair treatment throughout the process. You are also protected from undue harassment. Some rights that you have and rules that they should follow include:
- They cannot discuss your debts with anyone other than you
- They cannot come to your workplace
- If you ask them to contact you only through the phone, they should do so.
- They cannot call you at unreasonable times, such as late at night
- If you’re having financial difficulties, they cannot force you to pay.
If the debt collection company breaks any of these rules, make sure to have a poof. If you have proof of it, you can make a complaint and won’t have to pay the debt.
How do I Complain about Asset Link Capital?
If you feel like Asset Link Capital poorly handled your case, don’t hesitate to make a complaint.
Should I pay Asset Link Capital Debt Collection?
Paying a valid debt can help you avoid further legal complications. But if you’re having financial difficulties, you have options like:
- Declaring Bankruptcy
Even though you should pay them if they prove your debt, in some instances, you won’t have to pay. If your debt is older than six years, then there’s a high chance that it is statute-barred. For a debt to be Statute Barred, you should:
If your debt does not meet these criteria, then it is not statute-barred. So you have to pay them. If you’re having payment difficulties, you can always request a payment plan or any of the above options.
Do I have to pay them?
If your debt is not statute-barred, then you should pay Asset Link Capital. In many instances, they might be willing to negotiate a payment plan that suits your financial circumstances. If you don’t pay them, they can issue a CCJ against you.
A CCJ is a court order warning you to make the payment. Usually, this has a payment plan attached to it. If you still don’t agree to pay them, the debt collection company can go to court and request a warrant to use bailiffs to visit your home and seize your belongings.
The bailiffs will store your goods in a warehouse and eventually sell them in an auction to recover the total debt and all bailiff’s charges.
As you can see, it’s not a wise decision to keep ignoring Asset Link Capital requests. We strongly suggest you find a solution before things escalate to this extent. At least try taking legal advice from professional advisors specialised in giving debt advice.
What If You’re Unable to Settle Your Debt with Asset Link Capital?
If you cannot pay Asset Link Capital, be honest with them and explain your situation. They will try to understand and will offer you different options, such as payment plans that will help you to pay an affordable amount each month.
But if you don’t pay them and continue to ignore them, they can go to court against you and get bailiffs. So if you’re unable to pay, debt solutions will be very helpful for you. There are various options in the UK. But make sure to get some advice before you pick one.
First and foremost, remember hiding won’t make the situation any better. Engage with Asset Link Capital. If you find yourself unable to repay your debt, inform them right away. Their team might be more supportive than you’d think. They could work with you to devise a manageable payment plan.
This is a type of debt solution that consolidates your debts into a monthly payment that you can easily pay off. This payment is then distributed to your creditors, which in this case would include Asset Link Capital.
An IVA is another feasible path you might consider. This is where you pay a portion of your debt over a time period. And during this time, the debt collectors agree not to contact you.
This time period usually lasts between 5 to 6 years. After this period, any remaining debt will be wiped off. To be eligible for this, you should have multiple people’s money and should have a fixed income every month.
Since IVAs are not available in Scotland, you can instead choose a Trust Deed. It is very similar to an IVA, and after the payment period, they will write off your debt.
You can also choose a Debt Relief Order. If you have a very low income, this option is for you. To be eligible, you cannot:
- Have assets
- A disposable income
- Have a debt over £20,000
Declare bankruptcy if you have too much debt and you cannot pay them ever. But keep in mind that it can have severe effects for many years.
This is the Scottish version of bankruptcy. If you have minimum income levels and no valuable assets, you should apply for a minimal asset process bankruptcy (MAP). It is much cheaper, quicker, and straightforward.
Numerous debt charities provide free guidance and can help you navigate your situation with this debt collection company. They can offer you advice tailored to your circumstances. Below are some of the debt charity institutes that give debt advice in the Uk for free of charge.
- StepChange
- National Debtline
- Citizens Advice
- Debt Advice Foundation.
What are your next steps if Asset Link Capital Debt Collection have contacted you?
If Asset Link Capital contacts you, it’s crucial not to ignore them. Validate your debt and explore your options. If the debt is confirmed, consider setting up a repayment plan or seeking professional advice to manage the situation.
Just because you ignore them, they won’t stop contacting you. So it’s best to just directly speak to them and ask what options you have to settle the debt.
If you get in touch with them soon, you can fix the issue fast. So if you identify the debt, contact them through phone or mail. If you’re not sure if it’s yours, ask them to write you a “prove the debt” letter. If they don’t send this, you don’t have to pay.
If you’re in a position to pay, don’t delay it further. So come up with a plan and inform them that you can pay the debt. If you can’t pay, simply choose a debt solution.
Asset Link Capital Debt Contact Details
| Address: | If your loan was with Shawbrook Bank
Asset Link Capital (No. 7), PO Box 255, Caerphilly CF83 9FF T: 03330 150285 E: customerservices@assetlinkcapital.com If your loan was with Esme Loans Asset Link Capital (No. 7), PO Box 255, Caerphilly CF83 9FF T: 02920 858789 E: customerservices@assetlinkcapital.com If your loan was with New Day Asset Link Capital (No. 7), PO Box 255, Caerphilly CF83 9FF T: 02920 858788 E: customerservices@assetlinkcapital.com Asset Link Capital (No. 9), PO Box 255, Caerphilly CF83 9FF T: 02920 858786 E: enquiries@assetlinkcapital.com |
| Website: | assetlinkcapital.com |
Checking for Other Debt Collectors
It’s best to stay updated whether you owe money to anyone else. For this, check your credit report and bank statement to confirm that you don’t owe anyone. Some debt collection companies you will come across are:
Key Points:
FAQ
Asset Link Capital has the right to:
But they should always follow the rules of the Financial Conduct Authority.
You have several rights when dealing with debt collectors like Asset Link Capital. They include the right to request information about the debt, to set up a manageable repayment plan, and to be treated fairly and respectfully without any harassment.
If you have a complaint about Asset Link, you can contact them directly or lodge a complaint with the Financial Ombudsman Service(FOS). It’s also advisable to seek advice from debt charities.
Yes. If you owe them, you should pay. But if you don’t recognise the debt, seek advice.
If Asset Link contacts you about a debt, don’t ignore it. Verify the debt details, and if it is yours, discuss how you can repay it. If you dispute the debt, consult with a debt adviser.
As with any business, reviews about Asset Link Capital can vary. It’s always a good idea to research and form your own opinion based on multiple sources.
