Red/Lowell repayment offers

extrucker_2

Hi guys,

I have been receiving letters from Red (aka Lowell) regarding an outstanding account for a credit card (appx £1500) which I had over 11 years ago. Basically they have been making several repayments offers, the latest being 85% discount for a one off lump payment. Is this legal and would it be advisable to make the 15% payment to clear the debt or would this open me up to further demands from Red/Lowell?

Any help would be greatly appreciated

Culex

When did you last make a payment on that card or acknowledge (in writing) that you owed any money on it?

extrucker_2

Over 11 years ago, have received letters in the past at previous addresses, but never replied to any of them. I would like to clear this debt, since I am now trying to get my life back in order, but I don't want to open a proverbial 'can of worms'.

p.s. thanks for quick response, very impressed:)

fermi

The debt will be statued barred, and so legally unenforceable. It would also not be able to effect your credit files.

Your profile says "Falkirk". Presumably that means you are in Scotland?

There is a letter to send to Lowells in this link.

https://forums.moneysavingexpert.com/discussion/2606811

Plus links to factsheets with an explanation.

If you are in Scotland, it would be this letter. http://forums.moneysavingexpert.com/showpost.php?p=34906235&postcount=3

Sent recorded delivery.

extrucker_2

Thanks for that link, I will get a letter drawn up and sent off to them and keep my fingers crossed that it is succesfull


Thanks again Fermi

btw, you were right, I am in Scotland

Culex

extrucker wrote: »

Thanks for that link, I will get a letter drawn up and sent off to them and keep my fingers crossed that it is successful.

I believe you can relax your fingers and anything else (legs, arms, eyes) that you may have crossed as, because you reside in Scotland, the alleged debt will have become statute barred over five years ago.

Moreover, under Scots Law, the alleged debt was not only made impossible to enforce when it became statute barred, it was actually extinguished - it no longer exists and has not done for some five years!

Alternatively, I'll agree not to hound you over this debt if you'll pay me a mere 1% of what you owe. Isn't that a bargain?

famas

Lowell:-

I have been pestered by these pondlife now for nearly 3 yrs playing letter tennis with them, they stated I owed a old Credit card 3k. these letters started in 2008 when we got back from living abroad, we left the UK in May 2004 & we paid all Credit cards off, I have had no correspondants from any old credit card companies in all this time yet I get letetrs from these low life stating I owe money, I have never agreed to pay them anything or arranged any payment plan, they did send me a OCA that I was informed was useless & not valid, I need to know do I just ignore their demands & they will get bored or do you think if this debt does stand it will be statue Barred, your advice would be usefull