Full and final settlement help thread

pbsmiles

laura123123 wrote: »

I just want to say thankyou to everyone for the advice on this thread, i got a letter back today accepting £6095 on a £14400 nationwide CC! :j
Hopefully the rest should start coming in soon!

Brilliant well done

baggybreeches

fatbelly wrote: »

Remember you want the deal confirmed in writing.

Yes the lady I spoke to said she didn't have the authority to agree over the phone but they would write to me with the outcome of my offer within 7-10 days. Thanks

sunnyskies2

Hi, to summarise 3 years on from the lovely and helpful people on the dmp thread having held my hand into a Stepchange dmp for around £32k. All debts have at last been defaulted, most in the first year. In March I reduced payments, with a thought in the future I will go self managed and negotiate f&f. We are not young and income years are sliding away quickly,

Last week I received a letter from Lowell in connection with a Lloyd’s C card offering a 70% reduction of debt of around £1,600 payable as f&f and can be paid over three months. I am very happy about the offer, however we have several debts with Lloyd’s, the biggest being around £10k.

Could I ask, are Lowell a subsidiary of Lloyds and also if I accept this would they use it as a basis for the other debts. I am aware that if I do take this offer that ‘it will be a family member paying’.

Many thanks for any advice.

fatbelly

sunnyskies2 wrote: »

Hi, to summarise 3 years on from the lovely and helpful people on the dmp thread having held my hand into a Stepchange dmp for around £32k. All debts have at last been defaulted, most in the first year. In March I reduced payments, with a thought in the future I will go self managed and negotiate f&f. We are not young and income years are sliding away quickly,

Last week I received a letter from Lowell in connection with a Lloyd’s C card offering a 70% reduction of debt of around £1,600 payable as f&f and can be paid over three months. I am very happy about the offer, however we have several debts with Lloyd’s, the biggest being around £10k.

Could I ask, are Lowell a subsidiary of Lloyds and also if I accept this would they use it as a basis for the other debts. I am aware that if I do take this offer that ‘it will be a family member paying’.

Many thanks for any advice.

I haven't known Lowell to be involved with any debts other than those they have bought. If you look at their letter, they will probably refer to Lloyds as original company and give their reference as original reference.

Lloyds will have no interest in the debt now and Lowell treat each debt separately.

sunnyskies2

Thank you fatbelly, will accept their offer then ��

sourcrates

sunnyskies2 wrote: »

Could I ask, are Lowell a subsidiary of Lloyds and also if I accept this would they use it as a basis for the other debts. I am aware that if I do take this offer that ‘it will be a family member paying’.

Many thanks for any advice.

Lowell are a stand alone debt purchasing company who specialise in buying up delinquent credit accounts.

They do tend to offer good repayment deals at times, they are nothing to do with Lloyd’s.

[Deleted User]

sunnyskies2 wrote: »

Last week I received a letter from Lowell in connection with a Lloyd’s C card offering a 70% reduction of debt of around £1,600 payable as f&f and can be paid over three months. I am very happy about the offer, however we have several debts with Lloyd’s, the biggest being around £10k.

Could I ask, are Lowell a subsidiary of Lloyds and also if I accept this would they use it as a basis for the other debts. I am aware that if I do take this offer that ‘it will be a family member paying’.

Many thanks for any advice.

Congratulations. That's a nice offer:T

Could I ask if the debt went straight from Lloyds to Lowell please? Lloyds were collecting my CC debt themsleves until about 18 months ago when it began to be managed/cpllected by Wescot. Wescot haven't bought the debt though. I had a letter from Wescot earlier this year saying my other debt that they managed (RBS/Mint, not a Lloyds one) has been sold to Cabot. I am hoping the Lloyds one gets sold soon too (more chance of a good F&F offer I think;)). I was just wondering if Wescot-managed debts only get sold on to Cabot or whether Lowell might be a possibility

Wannamove

Hi,
I have received an offer from Lowell for a 40% reduction, I didn't request one they sent it to me. I signed up for online access and it said I could make the payment in one lump sum or over 3 payments. I can't afford to do either so offered the same payment as I am paying now via stepchange and they accepted it with the discount! They've put in in a letter that I received by email and it all looks correct. Setlled £4800 for £2880 (£1920 discount) at £61 per month.
This all seems great apart from it says will appear on my credit report as partially settled as I've taken the discount. I just wonder if this will make much difference in the future? It's already defaulted. But will it stay on my report after the default has gone?

Any help would be good as it all seems to good to be true, I need to tell Stepchange too, but the payment is exactly the same so hopefully they will understand.

djewkes

Hi,
I'm really pleased, I have a dmp with stepchange and owed a lot...(started at over 50k) got it down to 34k, last week had the Lowell letter, 50% reduction wanted 2.5k on a 5k debt......I had a small inheritance this year, wrote with offers all refused......so took a chance rang them and offered 2k which they have accepted...
So, feeling brave I rang PRA (19k owed) offered them 6.6k.........which they have accepted......
I now only owe 8.5k........am waiting to hear back from Link Financial......offered 2.4k on a 7k debt.......
Anyone had any joy with Link?

acee

Looking for some advice. I have been given £1500 back today from a payday loan refund. I have a DMP but several of the companies I owe to I am currently trying to claim refunds from irresponsible lending. Should I ignore these companies when deciding who to offer a F&F to?
I owe Satsuma £1k and Lending Stream via CRS £600 what should I realistically offer these 2 for a F&F?