Lowell Financial Ltd

SolicitorMidlands

statute barred - last acknowledged or payment made over 6 years ago

non-enforcable no valid CCA

RAS

Unfortunately CCAs do not apply to either bank accounts or mobile phone accounts.

Prior to you starting paying them last year, how long a period was there when you did not pay?

onetwoonetwo

No more than 2 years. Lowell bought the bank account debt from Scot Call as well.

RAS

No get out clause then

Have you started to reclamm any charges on the bank account?

Any PPI on either account?

sylv14allen

Hi,

I have just got a card from NCO about an Abbey overdraft. They confirmed that it is over 6 years old on the phone and I have said that I do not think it is my debt. They are going to get a signed agreement but because it is over 6 years since I have paid anything does that mean I don't have to pay it? It is £1400 and they offered me 50% discount if I paid there and then. I said no.

If I do have to pay this anyway then I will take the discount but I thought that as it was so old I might not have to (here's hoping).

Any help would be gratefully received.

onetwoonetwo

No, haven't tried to reclaim any charges... thought if I deserved to be charged for not paying then I wouldn't be able to? Apologies for being a complete novice at this but don't understand much of the jargon... what does PPI mean?!

Deep_In_Debt

PPI is payment protection insurance, I think. This may well have been sold to you when it wasn't necessary. A way for credit card companies to make a whole heap of money! Worth having go a reclaiming although be prepared for a bit of a battle.

onetwoonetwo

ok, well, no didn't take out the payment protection plan...
trouble is don't even have old statements before so may be more trouble than it's worth. We also have another debt with credit card company and my partner remembers paying a lot of charges for late payments etc but again, no statements. Is it possible to re order statements even when account with bank is closed? It's been about 2 years...
As for Lowell, we've spoken to them again today and told them to send letter out and if we're satisfied we'll get my mum to send cheque. They keep trying to call but if they're serious hopefully they'll send letter out soon. Will prob speak with them again tomorrow so i'll keep you updated with the progress. As for the bank charges I think this is something we'll perhaps look into once everything else is settled. The amount of paperwork and deadlines we have at the moment is quite enough. Everyone has been evry helpful so far, Thank you.
onetwoonetwo x

mrcow

Yes there are ways you can get the statements and back charges details etc even on a closed account. You really need to have a full read through on the bank charges thread though to get the full picture.

Good luck with the settlement. Just hold out - if they want the money, they'll send the letter.

onetwoonetwo

Okay, today we've received two more letters from creditors saying they have accepted our offer of full and final settlement which is great news but we're worried that the letters don't say all that they should and that there may be loop holes we're not aware of. Can anyone tell us what the creditors should say in these letters in order for us to be sure we can can send the cheque and it all will all go away!? Both letters say they accept our offer in full and final settlement of the debt and give us dates by which we need to pay. But neither letter says they will adjust our credit rating to say the debt has been satisfied in full. Should they say anything else???
Thanks,
onetwoonetwo x