Debt collectors get a bad rap nowadays. You could say that the debts you make you have to pay, but there are some methods used by these companies that can be quite nasty.
It even got to a point where the law changed, introducing more rules and regulations with regards to how debt collection agencies behave. Despite this, persistence and debt collecting go hand-in-hand.
So what do you do if a debt collection agency like Asset Link Capital Debt Collection gets in touch? We take a look at who Asset Link Capital is, and how you should go about dealing with them.
It’s not your fault. Complaints to the Financial Ombudsman have risen this year from 830 to 2,006, so it’s safe to say that you’re not alone.
Deal with your debt today and feel better tomorrow.
Who are Asset Link Capital?
So you’ve got a letter from a company called Asset Link Capital Debt Collection. But who are Asset Link Capital?
Asset Link Capital Debt Collection is a debt collection agency located in London. Debt collection agencies work on behalf of companies and clients to collect unpaid debts from their customers. Agencies like Asset Link Capital also bulk buy ‘bad’ debts from companies. This means that instead of owing the original creditor, you now owe Asset Link Capital.
Asset Link Capital Debt Collection is split into several different sections, including Asset Link Capital (No. 1) Ltd and Asset Link Capital (No. 5) Ltd. Asset Link Capital No. 1 Limited used to be called Broomco Ltd and was incorporated in 2004. Asset Link Capital No.5 Limited was incorporated in 2010.
And it gets slightly more confusing. Asset Link Capital Debt Collection is part of the Link Financial Outsourcing Ltd group, a company that was incorporated in 1998 and has offices all across Europe. They specialize in debt purchasing and loan and standby servicing. Basically, Asset Link Capital and Link Financial work side-by-side.
Don’t worry, here’s what to do
You could get rid of debt collectors by writing off your debt. I’ve put together a 4 question debt calculator which will tell you if you’re eligible:
Asset Link Capital Contact Details
According to Companies House, the address for Asset Link Capital No.1 Limited and Asset Link Capital No.5 Limited is The Peak, 2nd Floor, 5 Wilton Road, London, SW1V 1AN. Their parent company, Link Financial Ltd, can be found at the same address.
If you’re looking for the Asset Link Capital contact number, unfortunately, they don’t have one listed. You can contact Link Financial Ltd, their parent company, at 0800 064 4499 or at 0870 845 8484. Looking for the Asset Link Capital email address? Again, they don’t have one of those either, but you can contact Link Financial at firstname.lastname@example.org.
Why are they getting in touch?
Getting a letter from a debt collection agency like Asset Link Capital No.1 Limited can be unpleasant. After all, it’s a letter from a company you may not recognise demanding that you pay money you owe. As it is doubtful you have had dealings with Asset Link Capital No.5 Limited in the past, you should rightly ask yourself why they are getting in touch.
Asset Link Capital Debt Collection is a debt collection agency. This means that they collect money on behalf of other companies. If you haven’t kept up payments to a company, and you have ignored their letters and calls, then the company would hand the matter over to a third party, like Asset Link Capital.
Link Financial Outsourcing Ltd, the parent company of Asset Link Capital, specialises in debt purchasing. This is when the original creditor sells a batch of ‘bad’ debts for a fraction of the price. So, instead of owing the original company, you now owe the debt collection agency. In this case, you would have to pay Asset Link capital. So this is likely what Asset Link Capital Debt Collection is contacting you about.
Find your best debt solution (in 1 minute!)
Is all this information starting to feel overwhelming? Don’t panic! I’ve put together a 4 question debt calculator so you can quickly and easily find the best solution for you. If you’re eligible for the new government scheme, you could write off up to 85% of your debt! Answer the four questions now.
Are they trustworthy?
You should always be wary of any correspondence from a company you don’t recognise, such as Asset Link Capital Debt Collection. Asset Link Capital No. 1 Limited and Asset Link Capital No. 5 Limited are both listed on Companies House. This means that they are legitimate. Asset Link Capital No. 1 Limited has the company number 05322368, and Asset Link Capital No. 5 Limited has the company number 07273996. Their parent company, Link Financial Outsourcing Ltd, has the company number 03504939.
Link Financial Outsourcing Ltd is one of the founders of the European debt purchasing market, so they are fairly well-known and respected.
What are Asset Link Capital reviews like?
It’s always important to look at what people are saying about the company you’re dealing with. So what are Asset Link Capital reviews like?
In the industry, they are quite well-respected. Link Financial Outsourcing Ltd, their parent company, has some good reviews for its various services. In the Special Servicing division, it was rated as ‘strong,’ and in the Primary Servicing division, it was rated as ‘above average’.
When it comes to customers, however, it’s a slightly different story. On Google, they have a rating of 1.8 out of 5. There are also many forum posts discussing peoples’ experiences with Asset Link Capital Debt Collection, and none of them are particularly positive either. A lot of people are suspicious of them, as Asset Link Capital contact details are hard to come by.
Who do they collect for?
This is an important question, and can help narrow down why they are getting in touch with you. After all, you may still be asking yourself ‘who are Asset Link Capital, and what do they want with me?’
Asset Link Capital Debt Collection specialises in buying debts from other companies. If a company has a lot of unpaid debts, quite often they don’t have the resources to chase them, and so they sell them to companies like Asset Link Capital. Any company across Europe who wishes to offset their debts can reach out to Asset Link Capital No.1 Limited.
From customer reviews and forum posts, the following companies have been known to have affiliations with Asset Link Capital Debt Collection:
- Capital One
- GE Capital Woodchester
- First National
- Co-operative Bank
- Shawbrook Bank
Asset Link Capital Debt Collection primarily deals with banks and loan lenders, as you can see. Barclaycard is undoubtedly one of their biggest clients, though.
What rights does Asset Link Capital have?
There are some rights that debt collection agencies do have, but there are a lot of things that they’re not permitted to do. These companies often abide by rules and regulations dictated in the Credit Services Association (CSA) and the Financial Conduct Authority (FCA). Link Financial Outsourcing Ltd, the parent company for Asset Link Capital Debt Collection, prides itself on adhering to these regulations.
Debt collection agencies are famously persistent when it comes to sending letters and making phone calls. There is a fine line between persistence and harassment though, and if you feel like Asset Link Capital No. 1 Limited is going a step too far, then you have every right to make a complaint about them.
You can also make a request that they only contact you in writing if their phone calls are becoming annoying. The easiest way to stop them contacting you so regularly is to get in touch with them and see what can be done.
Asset Link Capital No. 5 Limited could also visit your home if you ignore their correspondence – though they have to give you at least seven days warning. If this happens, they are not allowed to enter your home. They also have to leave if you ask them to.
What rights do I have?
Asset Link Capital Debt Collection is a member of the CSA and the FCA, as well as being a part of the Finance and Leasing Association. This means they have some quite strict rules they have to follow in their day-to-day dealings. These rulings include the following:
- They are not allowed to discuss your debt with any of your family members or your employer, nor are they permitted to phone you up at work
- If you’ve asked them to only contact you by post, they are not allowed to contact you in any other way
- They can’t take payments towards your debt without your permission
- They can’t call you at unreasonable times in the day
- If you’re struggling with finances, they are not allowed to pressure you into loaning more money to pay off the debt
If Asset Link Capital disobeys any of these rules, and you can prove it, then the debt could end up being cancelled. It’s important to keep a good record of all your correspondence with them.
Should I pay Asset Link Capital Debt Collection?
We’re all responsible for settling our debts at some point, but there are sometimes circumstances when you may not need to pay Asset Link Capital.
Make sure that all the letters and documents you receive from them are accurate and have all the correct details on. Sometimes these letters are for the wrong person, or it might be a debt you don’t actually owe. These are quite rare occurrences, however, as debt collection agencies often know exactly who owes them what. Be sure to compare their information with your own, to make sure everything matches.
Also, if it is a debt from a while ago, you may not actually have to pay it at all. Some debts that are over six years old become what is known as ‘statute-barred’. This only happens to certain types of debt however, so be sure to check.
If the debt is definitely yours, and you have the funds to pay it, then you should absolutely pay in full. The quicker you reach out to Asset Link Capital Debt Collection, the quicker the phone calls and letters will stop.
What happens if I can’t pay them?
It’s always a hard truth to face up to if you can’t settle your debt. But if you are honest and upfront about it with Asset Link Capital No.1 Limited, they will be more likely to take your side. They could agree to a payment agreement, meaning that you will make a series of regular payments until the debt is cleared.
If you don’t pay them, and you keep on ignoring them, then things could escalate. They could get the court involved, along with bailiffs, and they could even petition you for bankruptcy. In very extreme circumstances, you could even end up in jail if the matter is taken to court and you can’t explain why you haven’t paid your debt.
So, the best thing to do if you are in financial difficulty is to get in touch with Asset Link Capital No.5 Limited and explain your circumstances.
What are your next steps if Asset Link Capital Debt Collection have contacted you?
You’ve got a letter from Asset Link Capital. So what do you do next?
Don’t ignore them
Asset Link Capital Debt Collection won’t just leave you alone if you ignore their letters and calls. They will keep on trying to contact you, so it is best to take the bull by the horns and see what you can do about it. Make sure you have all the information about the issue to hand, as this will make things much easier.
Get in touch with them
If you get in touch with them as soon as you can, then you will be on the front foot. So, if the debt is definitely yours, give them a call or write them a letter and get things underway as soon as possible.
If you are uncertain about whether the debt is yours, you can get them to write you a ‘Prove the Debt’ letter. By law, companies have to provide you with detailed proof about your debt. If they can’t do so, they can’t enforce the debt.
Settle your debt
If you are financially able to pay up, you will need to do exactly that. As we mentioned earlier, there are some different methods of settling up, so try and figure out a plan that suits everyone involved. Many firms will be open to a repayment plan, whereby you pay a set amount each month.
For those that are having difficulties with debt, you can check out our guide on debt options. This post outlines some of the ways you can get back on top of your finances.
The advice we’ve outlined here should help you come up with a plan of what to do if you’ve had a letter from Asset Link Capital Debt Collection. It’s never nice getting a letter demanding that you pay back the money you might owe, but if you follow these steps and keep calm, you should be able to sort things out quickly and easily.
If you believe Asset Link Capital Debt Collection has not behaved appropriately, you can make a formal complaint. Reach out to them first of all, and if they don’t respond, you can escalate your claim with the Financial Ombudsman Service.