Lowell Portfolio Chasing Old Debt

I have just got a letter from Lowell Portfolio chasing an old debt from around 5-6 years ago.

The debt is just over £1000 and they are offing me to settle it for £400 or £1.00 per day. Should I be in contact with them to repay? If not whats the chances of this going on my credit report as it's not on there at the minute.

Thanks
in advance
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Comments

  • Tixy
    Tixy Posts: 31,455 Forumite
    Is it 5-6 years since you paid? or 5-6 years since the debt was incurred?

    Chance of it going on your credit report - depends what the debt is for and why it isn't showing currently. If it is more than 6years since you defaulted then it will have dropped off your credit file.

    Do you know what the debt is for? do you agree it is owed? have they sent you evidence to prove the debt exists?
    A smile enriches those who receive without making poorer those who give
    or "It costs nowt to be nice"
  • N1kko
    N1kko Posts: 29 Forumite
    I have not paid anything on it for probably over 6 years.

    The original debt was to Comet who no longer exist, I do agree I owe the monies but never seen it on my credit report although I only starting using credit expert & equifax last year.

    Can they chase a debt to Comet even if they purchased it?
  • Tixy
    Tixy Posts: 31,455 Forumite
    It sounds like it has probably dropped off your credit file due to the age. A debt drops off 6years after the default.

    It also could be statute barred. Are you aware of the limitation act and statute barred debts? if not it would be worth having a read here - Statute barred debts and the Limitation Acts

    If you are not sure if it has been quite 6years since you last paid or acknowledged the debt you may want to just ignore the letter. If you are confident it has been more than 6years then it may be worth sending off the statute barred letter template. (5years if you are in Scotland).
    A smile enriches those who receive without making poorer those who give
    or "It costs nowt to be nice"
  • happy_bunny_2
    happy_bunny_2 Posts: 4,488 Forumite
    They can chase it if they own it.

    No payments or acknowledgment in writing for 6 years and its statute barred. Can ask you to pay, can't get a CCJ if defended.
    :beer:
  • N1kko
    N1kko Posts: 29 Forumite
    I'm sure it's been more than 6 years and I have made no payments in that time or had any contact regarding the debt until now.

    If I ignore it is there a chance it could end up on my report? Or even get a CCJ
  • Lensman_2
    Lensman_2 Posts: 1,506
    First Anniversary Combo Breaker
    Forumite
    If the letter gives an account number, sum owing and a demand for payment, I wouldn't ignore it.

    They will only have that much info plus your name and contact details.

    I would point out to them that it is statute barred (they will not know this) or they might blunder on in to a court claim that you will need to defend to avoid a CCJ.
  • N1kko
    N1kko Posts: 29 Forumite
    So what if I call them and offer to pay say £10 a week?
  • N1kko
    N1kko Posts: 29 Forumite
    edited 24 July 2014 at 5:55PM
    The letter reads

    Clear your debt today

    You still have an outstanding debt which relates to an old account you had with comet.

    This debt is not going to go away and requires repaying back. We are willing to gove you a big discount to help you clear this account.

    The Offer To You

    We will reduce your debt by 75% so you owe £….
    You can pay the new balance of £…. in full or monthly and the monthly amount you pay is only £1 per day.

    If you cannot afford £1 per day you can pay what you can afford no matter how small.

    If you do not begin to pay this debt we will send your account to an approved debt collector who may visit you at your home to discuss repayment.

    Call us immediately to setup your repayment
  • Lensman_2
    Lensman_2 Posts: 1,506
    First Anniversary Combo Breaker
    Forumite
    N1kko wrote: »
    So what if I call them and offer to pay say £10 a week?
    So what if I said you had NO legal obligation to pay this debt?

    Would you still want to pay £10 a week? Which won't be enough shortly and you risk them randomly withdrawing their £400 offer and asking for the full amount.

    As far as I can see, this debt is statute barred and all you need to do is print off a letter and post it.
  • N1kko
    N1kko Posts: 29 Forumite
    Sounds great to me. Do you have a link to the letter I need to send please
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