Debt sold advice please

flenk
flenk Posts: 15 Forumite
in Debt-free wannabe
Advice please?
Had Credit card from Lloyds.
Last spent anything on it June 2007.
Got behind.
They stopped charging me interest August 2010.
Made agreement and paid fixed amount since 2009.
Stopped paying them about Oct 2014.
Lloyds sold account to Lowell late 2016.
Court threatened "we intend to take legal action".
My qusetion is When exactly does the clock start ticking for the 6 years Statute of limitations ?
Are they in time or out of time ?
How and why ?
Sound legal advice very welcome please.
«1

Comments

  • sourcrates
    sourcrates Posts: 28,870 Ambassador
    First Anniversary Name Dropper First Post Photogenic
    edited 27 May 2017 at 12:22PM
    Hi,

    Unfortunately sound legal advice will have to be sought from a solicitor.

    But if you want a layman's view, then the limitations clock started ticking after your last payment in October 2014.
    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-letter
  • Raven42
    Raven42 Posts: 24 Forumite
    Quick question, was a default ever placed on your file?
  • sourcrates
    sourcrates Posts: 28,870 Ambassador
    First Anniversary Name Dropper First Post Photogenic
    Oh, and if Lowell say they "intend to take legal action" you had better take the threat seriously, and organise some kind of repayment plan with them, otherwise you will end up with a CCJ.
    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-letter
  • flenk
    flenk Posts: 15 Forumite
    Thanks for your replies.

    To Raven42 - what exactly do you mean by default, what file ?
  • McKneff
    McKneff Posts: 38,822 Forumite
    Name Dropper First Anniversary First Post
    Your credit file. A record of your credit history. If you end up in court because you havent paid it a county court judgement on your record means your credit is trashed . You wont be able to even get a mobile phone on credt, let alone a mortgage. Do you want to risk it
    make the most of it, we are only here for the weekend.
    and we will never, ever return.
  • fatbelly
    fatbelly Posts: 20,481 Forumite
    Name Dropper First Anniversary First Post Cashback Cashier
    flenk wrote: »
    Thanks for your replies.

    To Raven42 - what exactly do you mean by default, what file ?

    The default date on your credit record.

    It's worth checking. Although you made payments (acknowledging the debt) from 2009 - Oct 2014, it is possible that Lowell don't know this as they did not buy the account till late 2016.

    They should have been informed of the default date, as they would normally record the same date on their entry on your credit file.

    Of course if this was earlier than May 2011 the entry will no longer appear.

    Try a check, and let us know what you find
  • flenk
    flenk Posts: 15 Forumite
    Thanks all.
    To McKneff - no I certainly don't want to risk a CCJ.
    To fatbelly - I don't know and would have to find this out.
    I have to respond with something by their monday deadline though !
    Would sending them a subject access request both a) give me more breathing space/time and b) give me more relevant info ?
    Should I also ask for a copy of the original CCA ?
    When these companies buy these debts what sort of percentage have they paid for them ?
    Should I make them an offer ?
    What does anyone know of the behaviour of Lowell ?
  • sourcrates
    sourcrates Posts: 28,870 Ambassador
    First Anniversary Name Dropper First Post Photogenic
    flenk wrote: »
    Thanks all.
    To McKneff - no I certainly don't want to risk a CCJ.
    To fatbelly - I don't know and would have to find this out.
    I have to respond with something by their monday deadline though !
    Would sending them a subject access request both a) give me more breathing space/time and b) give me more relevant info ?
    Should I also ask for a copy of the original CCA ?
    When these companies buy these debts what sort of percentage have they paid for them ?
    Should I make them an offer ?
    What does anyone know of the behaviour of Lowell ?

    A CCA request would buy you some time, as it has the effect of putting the account "on hold" until its complied with.

    But if Lowell produce a compliant CCA, you would be well advised to make an arrangement with them, if they say they will go to court, they usually do.

    On the other hand, they have a wide range of payment and discount options, if you ask, everything can be done from there website, no need to speak to anyone.

    They will agree to most offers.
    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-letter
  • flenk
    flenk Posts: 15 Forumite
    Thanks.
    I have asked for the CCA.
    They say they have asked Lloyds for it and "aim" to provide it within 12 working days.
    That date has already expired (from my letter date).
    They go on to say that if they haven't heard from Lloyds after 40 days they will send an update.
    What exactly is this 12+2+30 days thing I hear of ?
    When are they legally out of time ?
    What is my position ?
  • anna_1977
    anna_1977 Posts: 862 Forumite
    First Anniversary First Post
    flenk wrote: »
    Thanks.
    I have asked for the CCA.
    They say they have asked Lloyds for it and "aim" to provide it within 12 working days.
    That date has already expired (from my letter date).
    They go on to say that if they haven't heard from Lloyds after 40 days they will send an update.
    What exactly is this 12+2+30 days thing I hear of ?
    When are they legally out of time ?
    What is my position ?

    Hi, I had a dealing with Lloyds regarding an old debt - they took in total about 4 months to get back to me, me chasing all the time and could never produce a CCA so I've stopped paying - recently had a letter from Link Financial and sent them copies of paperwork from lloyds saying no CCA.
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

Categories

  • All Categories
  • 343.2K Banking & Borrowing
  • 250.1K Reduce Debt & Boost Income
  • 449.7K Spending & Discounts
  • 235.2K Work, Benefits & Business
  • 608K Mortgages, Homes & Bills
  • 173K Life & Family
  • 247.9K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards