Paying off my Lowell debts

fermi

So basically to summarise:

Removing defaults is illegal = Load of codswallop!

Getting them to remove a default = Fiendishly difficult, if not sometimes impossible. Worth a punt, but probably not an excessive amount of effort.

payingemback

Well now I know it's possible, they wont be getting payment until they agree to it.

And I'm not worried about them hassling me, because it will be me hassling them for a while now.

For anyone reading this thinking I am looking for a way out of my debts, I'm not one way or another I'll make right, but I'm not going to just pay up and shut up, I'm going to fight hard for the best deal.

MoneyWasting_Expert

I am confused? Why should Lowell remove the default again? I guessing you defaulted on your account and history accurately shows that. Secondly you got into debt and you owe money. Whether they remove the default or not should not come into your own decision if/when to pay back money you owe.

payingemback

Knew I'd soon get a response like that.

Yes, I owe the money and yes I'll pay it back, but I am not going to NOT try to get the defaults removed. Are you suggesting I shouldn't try to fix my situation to my best advantage?

If I pay them in full right now, I have ZERO negotiating power. To not negotiate the best terms for myself, regardless of whether the defaults are deserved, would be FOOLISH.

fermi

payingemback wrote: »

Well now I know it's possible, they wont be getting payment until they agree to it.

Good luck with that.

Honestly, although legally they could remove it if they wanted to, I really doubt that they will.

It may be better focusing efforts on getting the best financial settlement instead?

payingemback

Yeah, you are probably right, but it's early days and I will at least give it my best shot.

chanz4

One thing to remember, if the default is removed it will go back to its last status code, the 6 years will then start from the day you paid so becarefull.

jadex

Removing default might not be always advantageous.
If your default is 3 years old or older (so you are half way to have it dropped from your credit file) and you "bargain" them to remove it (thus reverting account to its "live" status) and they comply with your request and then put "partial settlement" mark (which would be true reflection), you will end up with a fresh derogatory mark on your file, which will stay there for 6 years. All for "rubbish" (no pun intended) settlement: 1200 / 1500 is quite bad. I'd offer much less and if they reject just continue doing what you currently do (DMP, token payements, no payments) and send new (and lower, why not) offer in few months time.