lowell
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nissan_st
Posts: 55 Forumite
Hi
A few years back during a prolonged house sale and divorce my wife got behind on some accounts.
Some were long time accounts dating back years, and wouldn't have been enforceable under CCA agreements. But we paid them all and most in full.
Anyway some had gone to DCAa 's .
We settled all in one day to the tune of £21000. all except co-op who wouldn't play ball , even accepting full payment .All along they refused any payment on AFFORDABILITY.
Four accounts were with lowells.
Two years down the line lowells came up with two more accounts that had been forgotten, I sent the cca letter hoping that would help negotiations.
To my surprise they replied stating the account was opened many years ago and there was no agreement and they would not pursue.
I then attempted to settle them as a partial settlement etc.but they refuse to accept anything but full payment .
Is it worth another try ?
A few years back during a prolonged house sale and divorce my wife got behind on some accounts.
Some were long time accounts dating back years, and wouldn't have been enforceable under CCA agreements. But we paid them all and most in full.
Anyway some had gone to DCAa 's .
We settled all in one day to the tune of £21000. all except co-op who wouldn't play ball , even accepting full payment .All along they refused any payment on AFFORDABILITY.
Four accounts were with lowells.
Two years down the line lowells came up with two more accounts that had been forgotten, I sent the cca letter hoping that would help negotiations.
To my surprise they replied stating the account was opened many years ago and there was no agreement and they would not pursue.
I then attempted to settle them as a partial settlement etc.but they refuse to accept anything but full payment .
Is it worth another try ?
if you do it its done
0
Comments
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To my surprise they replied stating the account was opened many years ago and there was no agreement and they would not pursue.
Hi,
Are you fully aware of the above statement ?
It means they cannot obtain judgement against you in court for the debt as they don't hold the necessary legal paperwork to do so.
And anything over 6 years old will not show on your credit file.
If you want to waste your money then by all means pay Lowell in full, they will be laughing all the way to the bank, as they will of paid pennies in the pound for your account, the original creditor long ago having washed their hands of it, or, if you want to take a more common sense approach, walk away from it and thank your lucky stars.
Companies such as Lowell buy old unenforceable debts in bulk, then rely on people conscience in order to collect full payment, or write them off, they make enough money from the ones who do pay, so the ones that don't are not really a bother to them.I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0 -
Yeah I do get that.
We just figured if they accepted even 10% for each it may be worth getting the defaults settled.
Or maybe removed if payed in full ?
Other than those two on her file there is just a co-op one that we will settle next year.if you do it its done0 -
Yeah I do get that.
We just figured if they accepted even 10% for each it may be worth getting the defaults settled.
Or maybe removed if payed in full ?
Other than those two on her file there is just a co-op one that we will settle next year.
The thing is, it would possibly of been better for you if they did have the paperwork, Lowell are usually open to generous settlement offers.
But when your talking about unenforceable debt, they just hold out for full payment, there is no benefit to them to accept any less, they expect some to walk away, they just make a commercial decision and write the debt off usually, those that pay in full still make them a healthy profit for what they paid for the debt.
Just leaves you in catch 22 though.I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0 -
I see
Thanks for the help
It annoys me because we think looking back that four of five accounts we payed them , in full were un enforceable . We payed in full on those .
Defaults notices were not issued on these either .
We may want a mortgage next year or a buy to let one , either as we are mortgage free. and if I’m correct these defaults would need to be settled for at least a year .
Would the non default notice be route to get them to play ball ?if you do it its done0 -
No. They could just send you a copy of the notice if that's what you wanted.0
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No I didn’t particularly want it
I is just we know that the original default notices weren’t issued.
I’m just clutching at straws for leverage
Thanks for the advise I suppose I’ll be paying them in full at some point , or not getting a mortgage
Cheersif you do it its done0 -
Before you go make a payment, CHECK YOUR FILES.
You're saying the trouble was from a few years back.
How many? If a default was registered more than 6 years ago. It is not on your file. If it's not on you file, then you don't need to worry.2.88 kWp System, SE Facing, 30 Degree Pitch, 12 x 240W Conergy Panels, Samil Solar River Inverter, Havant, Hampshire. Installed July 2012, acquired by me on purchase of house in August 20170
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