Debt query

mcardy

I have recieved 2 letters from Lowell Ltd stating that I have an outstanding debt with them. It's goes back to a loan I took out with park direct when I was young and silly over 6 years ago. I think park direct have now when bust. I have ignored the letters but have since received letters from red debt collection services and Hampton legal all threatening legal action within 7 days or 10 days.

From my understanding a company has bought the rights to the debt from park direct and is using scare tactics in order for me to pay as the debt has expired or is close to expiring.

Am I legally obliged to pay this debt since it has been more than 6 years?
And should I keep ignoring the notifications?

jonesMUFCforever

When did you last make a payment or acknowledge the debt?

maginot

As stated by the above poster, it is 6 years from when you last acknowledged the debt e.g. Making a payment etc not from when you took out the loan.

So this information is needed whether you should ignore, as if within the 6 years you may get a CCJ against your name if after the 6 years they are unable to enforce it in court. But you still owe the money.

Vikipollard

Why do you not want to repay the debt?

mcardy

Its been a while since i made a payment and its not that i don't want to pay them back its the fact that the letter i have received is stating that i owe them more than i thought. I was going to contact them to request copies of this loan showing my signature for proof but i don't no what to do.

iolanthe07

was going to contact them to request copies of this loan showing my signature for proof but i don't no what to do.

They are not required to do this any more, AFAIK. They can 're-constitute' the agreement and don't have to produce the original; but you should have your own copy, anyway. What does it say?

mcardy

i havent got copies as its been over 6 years

Apples2

Any chance of answering the first reply?

Tixy

mcardy wrote: »

Its been a while since i made a payment

But how long? has it been more than 6years?

mcardy wrote: »

its not that i don't want to pay them back its the fact that the letter i have received is stating that i owe them more than i thought.

Well thats quite likely to be interest & charges added on. If you haven't paid the debt then it will have increased.

If its not 6years since the last payment then you could write to ask them to provide you a full breakdown of the balance - so you can check this to your own records (if you've kept any).

mcardy

Its been over 6 years since i my a payment and they have only contacted me just before the Christmas with WARNING letters. I cant check any records as i havent got them and from what i can remember i didn't have any payment card of any sort at the time.

Firefox1975

In that case you are fine.

as you state - it has been OVER 6 years since you last made a payment against the loan and it is therefore unenforceable.

They will also know this but will continue to send red letters because they wont want to write it off on their books as their entire business model revolves around significant Aged Debtors.