Lowell Portfolio Debt Settlement

mrgosht

Hi,

I need some advice regarding my debt with Lowell.
Lowell have bought my debt from T-mobile (Debt from 2011) for the amount of £707. I have asked for credit statements and contract which they have provided through the post.

I am looking to settle this debt in full , I offered half of the amount , £352 but they have emailed back stating that the most discount they offer is a 20% , which would get the debt down to £565. And they can look into setting up a payment plan, which I am not interested. I am interested in settling the debt in full.

Is there further way to negotiate or that is it?

Thanks in advance for your time and reply.

michael1983l

mrgosht wrote: »

Hi,

I need some advice regarding my debt with Lowell.
Lowell have bought my debt from T-mobile (Debt from 2011) for the amount of £707. I have asked for credit statements and contract which they have provided through the post.

I am looking to settle this debt in full , I offered half of the amount , £352 but they have emailed back stating that the most discount they offer is a 20% , which would get the debt down to £565. And they can look into setting up a payment plan, which I am not interested. I am interested in settling the debt in full.

Is there further way to negotiate or that is it?

Thanks in advance for your time and reply.

This is just an opinion but I would tell them that you have some cash as a one off, that is all you have and you cannot afford regular payments. Tell them that because of this you can only pay them if they agree to a full and final settlement, otherwise you will have to enter a payment plan of £5 a month as you can't afford any more and wouldn't be paying any lump sum in that scenario.

fatbelly

They're negotiating.

You offered 50%. They've said 80%.

You can leave it for a bit, paying £1 or £5 per month in the meantime. Then offer 50% again.

Or make an improved offer now.

harveybobbles

They would have bought the debt for a penny for every pound.

Go back and say that since making your offer, you have realised it was too high as you have other commitments.. and offer them £50 as F&F. They're still making on it!

Or to annoy them, offer £1.00 per month to be reviewed every three months.