Question about lowell..

Matty23

Hey,
My other half just got a letter from lowell financial about a debt of 244.00, She aknowledges the debt which is fine no problem, But when i do pay this off asap, as it not a massive balance, Do they add interest or hidden charges?, plus who do i actually pay lowell or shop direct?. If im happy and i am to pay off this debt will i hear from them again and what prove do i have that i've pay it off?,

Many thanks for your time!.:o

brians_daughter

Matty23 wrote: »

Hey,
My other half just got a letter from lowell financial about a debt of 244.00, She aknowledges the debt which is fine no problem, But when i do pay this off asap, as it not a massive balance, Do they add interest or hidden charges?, plus who do i actually pay lowell or shop direct?. If im happy and i am to pay off this debt will i hear from them again and what prove do i have that i've pay it off?,

Many thanks for your time!.:o

Ok!


I doubt they will add interest etc,but you need to clarify with them

How old is the debt? when did she last make a payment towards it?

Does it appear on her credit file? if so has it defaulted etc? If not there it maybe statute barred, ie over 6 years old so legally they cannot persue you in court for payment in reality this means they cant collect it unless you agreee to pay.
If its not already defaulted (which i doubt) then maybe worth paying to save her getting a default

A few options...

1. if your oh owes the money and you can pay in full do so

2. offer them a monthly installment, more money in your pocket rather than giving all upfront etc

3. Try and get a reduced settlement figure from them- if they have purchased the debt they will have bought at a pence per pound ratio ie maybe they only paid 30% of the true value for teh debt

4. Go down the 'prove it' route in the hope the debt is unenforceable etc

HTH any info you need just post back!