Lowell Debt Advice

Tseten

Hello,

I have been hiding in the clouds for a while now (since xmas) and ignoring weekly letters from Lowell Portfolio demanding I pay a 1,000 HSBC debt.

I haven't used HSBC for around 4 years and have no idea if that debt could be mine, it was a student account but can't see how it would get so high.

I'm looking into my options and currently see two paths and would like some help.

Firstly I believe I could send a prove it letter, and if they prove it, enter into a repayment agreement (I can't afford much a month right now)

Secondly, I saw on another website about people having luck with sending 3 letters, 10 days apart and making them enter into a 'Tacit Agreement'?

I was just wondering if anyone had any thoughts on this?

Any help at this point would be great.

Thanks,

Tseten

Gordon_Hose

What's the debt for?

Tseten

It has to be for a student overdraft, but I can't remember my limit ever being that high, think the most was 300-500 but again I don't have any of the details anymore.

Tixy

I would start with the prove it letter.

If they provide some proof that this is indeed your debt they are chasing you could then ask for a full transaction history so you can understand how they arrived at the balance.
Of course it might well not be your debt at all.

If it is your debt then you can look at what they have charged and could either arrange a monthly repayment at a rate you can afford. Or if you could afford to you might want to make a reduced full & final settlement offer to them in writing.

nottoolate

prove it http://www.moneysavingexpert.com/attachment/3rdpartydebtsletter.rtf