Paying off my debts with Lowell group

mikejs2012

Hi I have a debt of approximately £2000 which the lowellgroup is managing does anyone know if they will accept a smaller lump sum payment to clear the debts, as I have been told they would have paid a lot less to take on the debt from my original creditor, I did ask the last time I spoke to them but all they wanted to know was when would I be likely to have these extra funds, "I explained I was just asking a question" I imagine if I told them in 2 or 3 weeks they would start hounding me.

I originally phoned to reduce my payments so he did some calculations and came up with a higher payment than I was originally on, I told him that I was calling to reduce my payments not increase them so he added an extra 6 months my final payment will be 08/2015 :-(

any info appreciated

Mike

raven83

Ok, rule number 1.....Never ring these jokers, as they try to bully and intimidate you and you end up giving in. Always do everything in writing and NEVER sign your signatre.

Rule number 2......Write to them and TELL them that this is what you can afford to pay (make this a realistic amount you can offer, if its only a fiver a month so be it!) and that you will make payments at this rate. They cant turn it down as they would be refusing your debt and you are offering to mae payments. And please don't worry about them taking you to court- more chance in world peace than that ever happening!

Also when you write to them to tell them of the payments you can make tell them to not contact you by phone and to put everything in writing.

Just out of interest, are you sure the debt is actually yours and if so how old is it?

mikejs2012

Hi yes unfortunately this is my debt from 2009, the guy I spoke to was ok, I have agreed to pay back @ £37.46 and £10.44 = £47.90 per month I was originally paying £20 and £32.13 = £52.13 so £5 better off.

They have my old address details old phone number and dummy email address :-)

So two questions do they accept a reduced lump sum payment to clear the debt?

If I cancel the DD and ignore them, I guess they would try and take me to court or CCJ me?

the original debt was £3200 so I have been paying in regularly to bring it down to £2k

thanks

M

raven83

mikejs2012 wrote: »

Hi yes unfortunately this is my debt from 2009, the guy I spoke to was ok, I have agreed to pay back @ £37.46 and £10.44 = £47.90 per month I was originally paying £20 and £32.13 = £52.13 so £5 better off.

They have my old address details old phone number and dummy email address :-)

So two questions do they accept a reduced lump sum payment to clear the debt?

If I cancel the DD and ignore them, I guess they would try and take me to court or CCJ me?

the original debt was £3200 so I have been paying in regularly to bring it down to £2k

thanks

M

They won't take you to court. Personally i would just pay them a fiver each a month as there isnt anything they can do about it, but you should pay how much you can afford and yes they will have to like it or lump it, chances are though they will pass it onto another low life company but then the same rules apply.

Gimpsdad

"They won't take you to court" is a dangerous assumption. Not a bad assessment if you are not a homeowner, but they are the most aggressive DCA out there at the moment in terms of issuing BR petitions for homeowners.

If you ARE a homeowner then tread very carefully would be my advice.