What is the point in paying off Lowell Debt? Any benefits

jeystone

I really despise the company called Lowell, they recorded a default on my Equifax file in 2011...that wont drop until 2017

Why exactly should I now pay the debt? Before they could have threatened me with a default, now they have no cards to play...even if I pay it off, it will still show the exact same score? The debt is only around £100 so I doubt they will take court action, they haven't in a year...

Any reason why I should hand these scumbags any money?

Mara_uk7

How about because you borrowed the money and spent it ?

wegle

Mara_uk7 wrote: »

How about because you borrowed the money and spent it ?

This. And they may still take you court, do you want that hanging over your head. If the debt is only £100 why not just get it paid and save yourself the agro for the next 4 years?

sourcrates

wegle wrote: »

This. And they may still take you court, do you want that hanging over your head. If the debt is only £100 why not just get it paid and save yourself the agro for the next 4 years?

To answer your question, although its hard not to disagree with the previous posters, DCA`s may threaten to "take court action" but the reality is somewhat different, if every debtor had court action taken against them the court system would be swamped, and would collapse, if your debt is under £5000, you are unlikely to be taken to court, the debt will be passed around various DCA`s until it either becomes statute barred or you pay it.

bottleofred

Hi Jeystone,

You borrowed the money and I am obviously unaware of your personal circumstances, but it sounds to me that you can afford to pay the money back, but simply can't be bothered as you don't like the debt collection agency. I didn't like many debt collection agencies, but had to communicate with some of them to pay back my debts. It's up to you what you decide to do, but you do have a moral responsibility if nothing else! For a debt of around £100 you could just pay it or try to contact them asking for a settlement figure. As I said though, totally up to you!

rizla_king

If Lowells have bought the debt for a few pence in the pound, then no matter what you pay then the original people you borrowed from will never see any of it. That sends any moral argument straight out the window. In fact, considering that you can never actually pay back who you owed, and that Lowells are absolute pond scum even among debt collectors, it would arguably be more moral not to pay them.

Any way, the debt is statute barred according to your other thread https://forums.moneysavingexpert.com/discussion/4757534 so Lowells can just shove it!

matttye

rizla_king wrote: »

If Lowells have bought the debt for a few pence in the pound, then no matter what you pay then the original people you borrowed from will never see any of it. That sends any moral argument straight out the window. In fact, considering that you can never actually pay back who you owed, and that Lowells are absolute pond scum even among debt collectors, it would arguably be more moral not to pay them.

Any way, the debt is statute barred according to your other thread https://forums.moneysavingexpert.com/discussion/4757534 so Lowells can just shove it!

Agreed. I don't see a moral obligation to pay a debt collector who has purchased a debt - especially cheaper.

Pay the original creditor? Sure, that would be the right thing to do.

theblagger

matttye wrote: »

Agreed. I don't see a moral obligation to pay a debt collector who has purchased a debt - especially cheaper.

Pay the original creditor? Sure, that would be the right thing to do.

I agree....most DCA`S purchase debts for pennies....if you feel a moral obligation ...pay the OC..with what you can afford...and swat away DCA`S with cease and desist..And who sadly still lack any customer skills