Lowell old debt five years old

boogiemaster

I have a Capital one debt that Lowell bought in 2007 and its ppi over the limit and late payment charges.

Since Lowell bought it its been round three debt collection agencies and been passed back to Lowell as no one could collect even though they threatened me with a ccj bankruptcy etc.

Lowell said if I don't come to an agreement they will pass it to their litigation team who may issue court proceedings etc.

The amount is £419 and with ppi late payment charges and over the limit charges they are will to accept £300 even though I have asked for proof they own this debt nothing has been sent.

£300 is still a lot for a debt that is nearly six years old and its still a huge amount of profit that they would get if i paid this but i don't have the cash to pay outright.

I'm also on income support so they would only get token payments of £1.00 a month and they have agreed to this.


They have sent the cca but i think they are being greedy as the debt is so dam old and they have not pestered me or rang me even though they have my number so something sounds a little dodgy to me.

What do you guys think?

EllieB_2

I think you should ignore all correspondence and DO NOT MAKE ANY PAYMENT. sorry to shout but it's important. one payment will acknowledge the debt. If they get no payment or acknowledgment in writing from you that they owe the money then after six years they are time barred from taking legal action. Ignore, ignore, ignore. Best policy.

timbstoke

If you've agreed to £1 a month, it sounds like you've acknowledged the debt, which means they've got another 6 years to chase you for it.

king100

Over the phone is not good enough to restart debt, unless they have had that payment or you have written acknowledging the debt I would be inclined to question why they are willing to accept a lessor amount?

Have you worked out what the ppi and charges add up to? Could be more that the £195 they are willing to take off.

What was this debt for? Credit card loan etc?

Do not pay them a penny until you have foun out your ppi and charges total.