Capital one / lowell financial

newmummy123_2

Hi
I know you probably have alot of threads on this debt collection company and was just after a bit of advice here.
In 2007 I had a capital one classic card , balance £500.
Due to personal circumstances and a bad breakup found myself in a financially challenging position and defaulted on the card.

I have now moved house and 3 years later im in a better position financially. I have received letters from lowell financial demanding payment of £796. Obviously i was traced through my credit report etc. Now im not proud of letting this debt slide and not paying it at the time but I was in a very bad position and it was last thing on my mind. Ive read on other forums that this Lowell buy debts for pennies. Ive never had anything from Capital One to say they sold this debt or from Lowell saying they own it. Just the usual demanding letter and the balance is way over what was on my card.

I understand that this was my debt and debt should be repaid but to this lot???? Is there no way I could contact Capital One and pay them off? There letters are horrible and threatening. Talking baillifs etc. Now I live in Scotland and there are no baillifs up here as such I was told. Its done through sherrif court and its on order of a court.
I want to clear this debt off but ive heard horrible things about this company on other sites.

Any advice would be greatly appreciated

Also this debt is not showing up on my experian report.

thanks in advance.

p.s Ive had no dealings with them by phone or anything although they have tried to phone as i checked number on who calls me website

Tixy

Hi

They will have sold your debt to lowel by now so they will be the legal owner so you won't be able to deal with cap one.

First response should be to send the prove it letter asking them to prove they have a right to collect the debt and to prove you owe it. http://forums.moneysavingexpert.com/showpost.html?p=11570893&postcount=2

If they prove it then you should then ask for a breakdown of the balance, its likely to include charges & interest from when you defaulted.
Then you could either negotiate a repayment plan you can afford, or if you can afford to then offer a reduced full & final settlement for the debt (perhaps offering around 25% of the balance to them).
http://www.nationaldebtline.co.uk/england_wales/factsheet.php?page=24_full_and_final_settlement_offers

newmummy123_2

Tixy wrote: »

Hi

They will have sold your debt to lowel by now so they will be the legal owner so you won't be able to deal with cap one.

First response should be to send the prove it letter asking them to prove they have a right to collect the debt and to prove you owe it. http://forums.moneysavingexpert.com/showpost.html?p=11570893&postcount=2

If they prove it then you should then ask for a breakdown of the balance, its likely to include charges & interest from when you defaulted.
Then you could either negotiate a repayment plan you can afford, or if you can afford to then offer a reduced full & final settlement for the debt (perhaps offering around 25% of the balance to them).
http://www.nationaldebtline.co.uk/england_wales/factsheet.php?page=24_full_and_final_settlement_offers

hi
I think i will go for the prove it letter just now as i genuinely have had nothing through post to say that capital one sold the debt or that they are the legal owners although I know they will be. Ill try that letter first. Am I right in saying that they need to provide a Credit agreement?