Lowell Financial and Portfolio

my_two_cents

Had dealings with same company due to going overdrawn on students account with Barclays Bank. The bank has sold the debt on to Lowells for about 20%, so if you can afford to pay immediately, make them an offer of around 35% to £40%, but preferrably not with a credit/debit card, otherwise they could go behind your back to take more payment.

As your son is on benefit and this debt being a non-priority debt, fill in an income/expenditure plan(optional), via recorded delivery or with proof of postage and inform them that £1 per calender month is all you can afford to spare, enclose a cheque monthly or set up a standing order for that amount, and make sure you stick to it like glue.

They don't like going to court as it is too expensive and would not have a leg to stand on as long as you have the proof to show that you have been making regular repayment regardless of what the repayment amount is.

evos12

Hi to all,
Just needing some advice if anyone can help please.
My husband has been receiving letters from Lowell for about a year regarding a debt he had between 6-7 years ago with HSBC for £7000.00.
We have had no contact with HSBC in all this time and the letter from Lowell now states that if the debt is not paid they will assume that we have no intention and possibly will recover the debt by commencing legal action which may entail a petition for our bankruptcy being sent to court.
Can any please advise us what to do now.

evos12

Hi to all,
Just needing some advice if anyone can help please.
My husband has been receiving letters from Lowell for about a year regarding a debt he had between 6-7 years ago with HSBC for £7000.00.
We have had no contact with HSBC in all this time and the letter from Lowell now states that if the debt is not paid they will assume that we have no intention and possibly will recover the debt by commencing legal action which may entail a petition for our bankruptcy being sent to court.
Can any please advise us what to do now.

RAS

hi

As a rule, if you have no contact with the creditor or their agents over 6 years, then they cannot pursue you for it.

Depends if you have at any stage acknowledges the debt and exactly how long it was since the previous contact.