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Todays Dealings with Lowell Portfolio

I have several accounts with Lowell Portfolio and before setting up repayment plans, or in two cases disputing debts, Lowell would phone me every other day about one debt or another.

Today, they sent me statements of a bank account that went overdrawn through non paid direct debit charges, to the tune of £400. I have always maintained that I closed the bank account and cancelled the direct debits. Then very soon after closing the accounts I moved house. It's very complicated, but the statements they sent me were insufficient and incomplete.

This is the second time they have sent me the same incomplete set of statements and the same threats of taking me to court if I did not pay.

Today I told them that I am sending the statements, and all of their letters, together with my version of events to the financial ombudsman and to trading standards.... They then immediately told me that they would have to end the conversation and put me through to their 'Complaints resolution department".

I spoke to a guy in the complaint resolution department and after explaining the situation and the fact that I am planning to go to the ombudsman, he reduced the debt on four of my accounts by 50%, saving me hundreds of pounds.

I've heard of getting a reduced figure for full settlement, but they have reduced them and allowed me to pay monthly. Though some are now small enough to pay off earlier anyway.

I'm really pleased, but slightly confused as to why they backed down and gave me quite such a discount.

Comments

  • fermi
    fermi Posts: 40,542 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker Rampant Recycler
    Because if it goes to the ombudsman, then Lowells would have to pay them a £500 case fee.

    Lowell have to pay that whether the complaint is upheld or not, and they never get it back, so they will try to avoid you taking it to the ombudsman if they can.
    Free/impartial debt advice: National Debtline | StepChange Debt Charity | Find your local CAB

    IVA & fee charging DMP companies: Profits from misery, motivated ONLY by greed
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