Halifax debt confused

peterb55

OK so let me start with the fact I did use the o/d facility offered by Halifax and borrowed £250. At a very low ebb in my life, hit by the recession, no income, couldn't pay my bills, desperate and angry with all of the banks for dumping us all in this mess. When I could not repay the overdraft I told the branch I would repay it WHEN I got some work.
Two years on, I have reduced my total debt from around £37K to £267.63p claimed by Halifax and the £17.80p I actually owe Premier Man (who have escalated the bill with bogus charges to over £150).
Now, my point is: Just as I am in a position to start to clear the Halifax debt I get a letter from a Craig Ballentine, Manager Collections & Recoveries (Halifax headed paper), dated 28th July stating that my account with HBOS had been sold to Lowell Portfolio I Ltd on 12th July ???
Interesting in that in 2009 and in 2010 I have received letters from:
Albion Collections
Fairfax Collections
Nelson Guest & Partners
Westcot
and of course Moorcroft. All begging for the £267.63.
I have completely ignored all their letters, as advised through the forums at MSE.
So, at last, here is my point, if Halifax sold the debt to a company that sold it to another company and then on to another company and in the process two firms of solicitors were involved, who should I communicate with, now Halifax have sold it again??
Peter

aimingforadebtfreelife

Hi,

What you have received is a Notice of Assignment. The companies you have been dealing with before were acting on behalf of Halifax - ie for every £1 they collected for Halifax they got xx pence. They basically send out 5 letters each threatening more action and ficticious solicitors to get you pay. If you dont chances for a small debt is that they will return back to the Halifax to say no joy. Halifax then pass the debt onto another agency for them to try their luck. After about 4 companies they get fed up and for tax reasons they will sell the debt on. This is where Lowell come into the frame. They would have purchased your debt for pence in the pound and they now have sole reponsibility for the debt. They are allowed to register the debt under their name on your credit file with the default date of when Halifax sent you the default.

Legally Halifax have to send you a letter to say that the debt is now the ownership of Lowell and all corress must be done with them.

Now that they have sold the debt you are in a better position to barter a deal with the new owners. Me, personally, I would write to Lowell and offer £125 in full and final settlement. They will likely accept as they would have paid about £50-£75 for the debt and its a quick profit for them and less for you. Win-Win.

Best of luck

fatbelly

You communicate with Lowell.

Offer them 30p in the £ as a full & final settlement.

peterb55

aimingforadebtfreelife and fatbelly I thank you and have taken your advise and written to Lowell making them an offer (using the template). I will add to this thread when I hear back from them.

deepoo

Sorry, but I think it is wrong to insult people who come here for advise. Bad things can happen to anyone and I admire someone who is prepared to sort it out for themselves.

peterb55

Well I wrote to LP1 and offered £85, all I have. I got a letter from another company stating that LP1 had written to me and I had failed to respond. Today I get a letter from Lowell Portfolio 1 rejecting my offer and giving me 4 options.
1) 44.61 a month for 6 months 267.66
2) 22.31 a month for 12 months 267.72
3) 14.87 a month for 18 months 267.66
4) 227.49 now = 15% discount
If no good to me I am to call them (loathed to do so).
Next April I will be 60, unemployable, I have osteoarthritis, need two new knees, type 2 diabetes and have a trapped nerve in my spine. OK so I'm a wreck. Friends say I'm a brick, what can't you get blood from....ha ha.
If it wasn't so funny I'd be crying. Just don't know what to do next. My credit card company is on my back. I'll be luck to be able to save £100 by Christmas (wont that be a fun time).
Any suggestions, and thanks.
Peter

lindann_2

hi when you are 60 apply for pension credit, it can bring a little something in extra, also if you have sick benefit you can still apply for it, but you got to be sixty good luck

fatbelly

Well they've come down to 85%. If you can't raise your offer then let them stew.

If you think you can make an improved offer (say 50%), then make it when you can. But I think this time you should set out that this is your final offer and explain why.

The bad news about Pension Credit is that the rules have changed and you cannot claim at 60, because of the increasing retirement age for women (even though you're a man!) - you will be nearer 62 before you can claim. See direct.gov link

peterb55

Interesting turn of events. Have not heard from Portfolio for a month or so. As I posted (August) they rejected my offer, sent a few letters and silence. New twist, DML have my Landlady's telephone number, I assume from voting register, and have on a daily basis been leaving messages for me to call them. My landlady is not happy, she called them and they have promised to remove her number.
Does anyone have experience of constant calls from debt Management Ltd? Anyone have a suggestion as to how I proceed? Are DML just a debt collection agency or have they purchased the debt from Portfolio 1?
Thanks

fatbelly

Debt Managers Limited are a Glasgow-based collection agency. So Lowell will be employing them to collect. You appear to have been open with them about your address so I don't know why they are phoning your landlady instead of writing to you.

I think previous advice still stands:

If you think you can make an improved offer (say 50%), then make it when you can. But I think this time you should set out that this is your final offer and explain why.

peterb55

Thanks for the information. Today a letter arrived so hopefully they will not bother my landlady. It's not nice having to explain you have a small debt problem to someone who expects the rent each month. I just hope she does not have doubts as to if she will get her rent.

I hate these people, I suppose if I were in business I wouldn't, but I do. It's like standing in front of a card sharp who has seven hands all dealing the same cards, and you are trying to identify exactly which card you need to place your money on, confusing.

You will remember I explained that Lowell Portfolio 1 stated in their letter they had been sold my outstanding debt by HBOS PLC. That I was to pay them. The latest letter from DEBT MANAGERS LTD states the Account Due To: Lowell - HBOS PLC and then at the bottom of their letter it says All future contact and payments should be made directly to Debt Managers Ltd.

So who owns this debt? and who now do I make an offer to?

DML are still claiming the full £267.63 and if I make them an offer and they refuse is it, as before, is this going to go on to another agency around another set of houses???

I appreciate any and all the advice Forum members are giving me. I am getting very angry with all these debt retail companies. They are the ones who have screwed the rest of us and are responsible (collectively) for the mess the World is in.
:mad: