Lowell Financial

ratttyo

LOWELL FINANCIAL

Ive never signed any payment agreement with this debt company in my life or acknowleded them.

they are demanding £768 from a Capital 1 account that was closed 14th Sep 2001.

Lowell are now placing defaults on my Credit report each month..?

What do I do and how long will these stay there. Surley they cant do that has they arnt the original creditor?

sammy115

I am sure someone with a bit more knowledge than me will be along shortly but I think what you need to do is write to Lovell and ask them for a copy of the original credit agreement and such like.

CLAPTON

when you signed your original agreement it almost certainly had a clause that said that the loan could be assigned/sold to another company.
So they can legally pursue you for the debt.

Defaults stay on your credit file for six years from the date of the default.

ratttyo

yes but the account was closed on the 14th sep..2001..they have started adding defaults from last month...Will this debt drop of the credit file on the 14th sept 2007 or from 6 years from now? that s my question

CLAPTON

as far as the credit agencies are concerned the default will drop off six years after the default.

so when was the default?

if you weren't warned about the default you could write saying you hadn't received it and demanding proof that they sent you suitable details.

tomterm8

registered post, to the data controller:

Dear Mr X,

Please note that I do not acknowledge any debt to your company.

I understand that you have shared my sensitive personal information with a third party, XXX.

I do not recall giving you my explicit consent to process my sensitive personal data, or to share such data with other organisations. As you are aware, it is an offence under the Data Protection Act 1998 to disclose sensitive personal data without lawful reason and/or the permission of the data subject. You are also expressly prohibited from processing personal data without permission unless you can show that it is as necessary to enforce a lawful right or interest, such as an enforceable contract.

I request that you send me, within 14 days of this letter, a signed true copy of such a contract or credit agreement AND a true copy of an explicit consent to process and distribute this data under the data protection Act 1998. Also a true copy of any assignment of the contract to your organisation

I also ask that within 14 days you send me copies of all data you hold on me, as part of this SAR under the Data Protection Act 1998. I explicitly include any records/ recordings of phone conversations in this notice.

If you fail to comply within the notice period, I will immediately complain to the statutory authorities in the first instance. Since you are actively disclosing my data to third parties, I regret that I will be unable to extend this notice period.

You will be responsible for any damages or distress failure to comply with the Data Protection Act causes me. You should be aware that your actions have already caused me considerable distress, and have restricted my ability to apply for a mortgage.

I note that failure to comply with the data protection principles is a serious breach of both FSA and OFT guidelines and that I will report this to the authorities.

If your actions are mistaken, I require you to inform me immediatly of the steps your will take to rectify the situation and mitigate any damage.

I enclose a postal order (serial no XXXXX) for £10, in payment of the statutory fee.

I look forward to hearing from you,

Yours Sincerely,

XXX"

sammy115

When you say the account with them was closed - what do you mean? Did you close it? Did they close it? Did you owe them money at the time it was closed or did you think it had been repaid in full.

What is the debt for?

ratttyo

the credit card was closed. all paid . i dont have any paper work the account number or anything for the card.

This Lowell have bought a debt of capital 1 credit card and say i owe £768...

the account according to Experian was closed on the 14th sep 2001.

Ive sent the letter of regarding the credit agreement. See what happens next!

sammy115

Good luck rattyo - let us know how you get on.

smashedbooboo

They are trying it on. You will notice that very soon this alleged debt will become statute barred in september. The debt collection specialise in bying debts from banks etc. They will pay as little as 6p in the pound for them. They do not check as to whether you actually owe the money or not. they will just chase.

jeegee

Same problem here with lowell financial. They effectively bullied me into paying 140 quid for an apparently outstanding debt to capital one by threatening to call my house 3 times a day!, send letters daily! and also threatened to send bailiffs or other agents to scare my wife and kids. These guys are the lowest of the low, real scumbag dca. Both experian and equifax have no record of this debt but lowell said they would pursue me relentlessly for a measly 140 quid so i paid it off.