Lloyds 'debt' sold to Lowell - advice please.

DannyAdams

Quick background. I was made redundant late in 2005 and eventually lost my house (and some of my marbles) in the summer of 2007. A CCJ was issued, but I was able to sell the house and pay the remaining mortgage off - all clear. During this18 months Lloyds TSB continued to rack on charges and interest for bounced cheques, DDs etc despite knowing that there was no money (or very little) going into the account. Eventual 'debt' was £1100. Whenever I was working I would pay what I could, but being a typical 'proud' bloke didn't grasp the situation. Anyway, because of my state of mind I moved back to my parents and my sister took control of my finances and contacted relevant companies - one of which was TSB. She requested a breakdown of charges and for them NOT to contact me because of my mental state. (I'd granted her authority in this matter). Nothing more was heard from TSB until about 2009 when I got a letter saying they'd sold the debt. My sister contacted the debt company and said the debt had been contested and they need to go back to TSB. Nothing more was heard until last week when I got a letter from TSB with an accompanying letter from Lowell about the £1100 'debt'.

Thankfully, I'm in a much better place mentally, with a job, and I can afford monthly repayments. HOWEVER, I'm not okay with paying the full amount that is requested.

I know that some of these 'debt recovery' companies are offshoots of the main bank, so do I try to negotiate this with Lowell, or do I need to go back to TSB to have these ridiculous interest and bank charges reviewed? Or is there another option that I'm not aware of? Lowells have already said that they'll go legal on me if necessary, however they DO seem to be a fair company - at face value.

Sorry for the long post, but I guess I'm proud that I'm now mentally confident enough to deal with this myself!

Heffi1

Hi I am not sure about Lowell, but I want to say well done on getting your mental health back in line, it is a lonely place when you are unwell and your sister did the right thing about your debts, not ignoring them.

Good luck in sorting this out.

happy_bunny_2

How old is the account? You sent them a CCA request?
Probably worth it as if pre 2007 they need the original to take you to court.

Lowell are external DCA I believe.

fermi

I presume this was a current account, overdraft etc?

DannyAdams

fermi wrote: »

I presume this was a current account, overdraft etc?

Yes, it was a Gold Account with them.

happy_bunny wrote: »

How old is the account? You sent them a CCA request?
Probably worth it as if pre 2007 they need the original to take you to court.

Lowell are external DCA I believe.

The original account is from when I first started working back in 1985! I can't remember when it was changed to the Gold account, but it was certainly pre 2007. Thing is, I don't dispute that I owe TSB money, I just dispute the amount they're trying to charge. Other than hazy memories, I literally have no paperwork pre - 2007 now. The 25 years of my former life were reduced from a 3-bed semi to a dozen boxes and 4 refuse sacks of clothes.

I forgot to mention that the letter from LloydsTSB did say "We have not been made aware of any reason why the debt should not be paid" (which I dispute) "and as Lowell Portfolio1 Ltd are now the legal owners of the debt any payment...and...further communications...should be made to them" so is it worth sending a subject access request to TSB though so that I have some basis for review or do I now have to deal with Lowell ?