Should I Pay or Ignore Asset Link Capital Debt Collection?

Feeling uneasy about a letter from Asset Link Capital? You might be wondering what to do next. Rest easy, you’re not alone. Every month, I offer guidance to over 12,000 visitors on debt matters.

In this friendly guide, we’ll explain:

• Who Asset Link Capital is and why they might contact you.
• Whether Asset Link Capital is a regulated debt collection agency.
• How to handle repayments and possibly make them smaller.
• What can happen if a debt is very old.
• If you should pay, ignore or challenge Asset Link Capital.

Dealing with debt can be a tough job. I understand your worry as I’ve been in your shoes and have faced similar situations. With this knowledge, I can guide you through your journey. Let’s get started and learn the steps to take when Asset Link Capital contacts you.

Why is Asset Link contacting you?

Chances are you owe money to a company and maybe Asset Link purchased the debt! Or they could be acting on behalf of a creditor you owe money to.

If you defaulted on any payments and you ignored the creditor, they could pass your details on to Asset Link Capital. In this instance, they are acting as recovery agents for the original creditor.

However, as previously mentioned, Asset Link buys debts in bulk, so they could be chasing you for payment. If so, you’d have to deal with the debt recovery company and not the original creditor!

Take a look at what happened to one poor person when Asset Link contacted them:

Source: Moneysavingexpert

» TAKE ACTION NOW: Fill out the short debt form

Should you pay asset link capital?

You should only pay Asset Link Capital when you’re sure the debt is yours and that it’s not too old to enforce!

The first thing is to check how old it is. For instance, if it’s at least six years old and meets specific criteria, it may be statute barred!

You may not have to pay Asset Link Capital if it’s proven statute barred!

The next thing to check is whether it’s yours! Go through all the details in the letter from Asset Link very carefully.

Then write to the debt recovery agency asking them to prove you owe the money. In short, send a letter registered post asking Asset Link to ‘prove’ it.

Should you ask Asset Link to prove the debt?

Yes. Absolutely. Even if you know you owe the money. It buys you a little time and it means the debt recovery company can’t escalate things!

Make sure you send the ‘prove it’ letter to Asset Link by registered mail so you know they receive it. You should get a response from them in a matter of weeks.

Asset Link must provide solid proof. Don’t just take their word for it. The evidence should be either a signed Credit Agreement or another contract you signed.

Also, any copies of agreements must be authenticated by the original creditor or someone who is authorised to authenticate them. A debt collector can’t authenticate a copy of an original credit or another sort of agreement!

What if Asset Link can’t prove the debt?

When a debt recovery company can’t prove a debt, they can’t force you to pay. They would have a hard time in court if they can’t show evidence to the judge that you owe the money!

In short, if Asset Link can’t produce an authenticated copy of an agreement you signed, they don’t have a case against you. 

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Should you ignore Asset Link debt collection?

No. Ignoring Asset Link when they contact you over an alleged debt is never a good idea. There are many positive and negative reasons why binning a letter about a debt is not the best move.

First, on the positive side of things, you could be missing out on:

• Discovering the debt is statute barred and therefore, too old to enforce
• Establishing the debt is not yours and that Asset Link is chasing the wrong person
• Having some of the debt wiped off making it easier for you to settle

Second, on the negative side you could face:

• Court proceedings
• Getting a County Court Judgement registered on your credit report
• Dealing with enforcement agents (bailiffs appointed by the court)
• Having some of your assets/possessions seized
• Coping with an attachment on your bank account or earnings

In short, ignoring a letter about a debt could have serious consequences. Plus, you could end up with a CCJ on your credit report about a debt that’s not even yours!

Can you stop Asset Link Capital from contacting you?

No. Debt collection agencies are within the law to contact you about an alleged debt.

They have the right to get in touch in the following ways:

• By phone/text
• Via email
• By sending a letter about a debt
• In-person

That said, you have the right to tell Asset Link how and when to contact you. It’s always a good idea to write to a debt collection agency as soon as you can. Send the letter by registered post and ask them to only contact you in writing.

It means you have a record of everything both your letters to them and their written responses!

Can you complain about Asset Link?

Yes. You have the right to file a complaint against Asset Link when the debt recovery company acts unlawfully, threatens or harasses you with constant calls.

First, send your initial complaint to their head office and allow them to make things right.

You should file a formal complaint with the Financial Ombudsman Service if you feel they are still not treating you lawfully or their actions go against the Code of Practice.

How do you contact Asset Link Capital Debt Collection?