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Lowell Default advice
willow09
Posts: 8 Forumite
Hi All,
I sent the following letter to Lowell after finding a default on my credit file, in the hopes that maybe I could dispute and hopefully have the default removed. It was a long shot but thought I would give it a try anyway. I received a default notice from Shop direct but never any deed or notice of assignment about the purchase from Lowell.
…..“After recently obtaining a copy of my credit file from Experian & Equifax I was concerned to note that your company has placed a "Default" notice dated 07/03/2011, against an account in my name.
Further to this I have no recollection of ever receiving such a notice, and I therefore require you to substantiate this data at your earliest convenience.
1. You must supply me with a true copy of the alleged agreement you refer to. This is my right under your obligation to supply a copy of the agreement under the legislation contained within s.78 (1) Consumer Credit Act 1974 (s.77 (1) for fixed sum credit). Your obligation also extends to providing a statement of account. I enclose a £1 postal order in payment of the statutory fee, PO Serial Number **********.
2. You must supply me with a signed true and certified copy of the original default notice
3. Any deed of assignment if the debt was sold on
I would request that this data is provided to me within the next 28 days, if you are unable to provide this data then I must insist that it is removed from my files as unsubstantiated”……
Anyway I have received a letter back stating basically all the details of the default and that by law because the account is now settled and closed that they are under no obligation to provide any documentation regarding the account. They also state that when they purchased the debt, the details of the default were changed to reflect Lowell as the new creditor.
Does anyone know how I should proceed? The default is legitimate but I’m hoping to try and have it removed, rather than have to wait until 2017 for it to drop off. I know it’s near impossible to do but I’m going to try, I’ve had a clean credit record for the past three years and have even been able to obtain credit cards but my hopes are to apply for a mortgage in a years’ time when I have enough deposit saved, but know that defaults are practically a no no for mortgages.
Any help or advice would be very much appreciated.
I sent the following letter to Lowell after finding a default on my credit file, in the hopes that maybe I could dispute and hopefully have the default removed. It was a long shot but thought I would give it a try anyway. I received a default notice from Shop direct but never any deed or notice of assignment about the purchase from Lowell.
…..“After recently obtaining a copy of my credit file from Experian & Equifax I was concerned to note that your company has placed a "Default" notice dated 07/03/2011, against an account in my name.
Further to this I have no recollection of ever receiving such a notice, and I therefore require you to substantiate this data at your earliest convenience.
1. You must supply me with a true copy of the alleged agreement you refer to. This is my right under your obligation to supply a copy of the agreement under the legislation contained within s.78 (1) Consumer Credit Act 1974 (s.77 (1) for fixed sum credit). Your obligation also extends to providing a statement of account. I enclose a £1 postal order in payment of the statutory fee, PO Serial Number **********.
2. You must supply me with a signed true and certified copy of the original default notice
3. Any deed of assignment if the debt was sold on
I would request that this data is provided to me within the next 28 days, if you are unable to provide this data then I must insist that it is removed from my files as unsubstantiated”……
Anyway I have received a letter back stating basically all the details of the default and that by law because the account is now settled and closed that they are under no obligation to provide any documentation regarding the account. They also state that when they purchased the debt, the details of the default were changed to reflect Lowell as the new creditor.
Does anyone know how I should proceed? The default is legitimate but I’m hoping to try and have it removed, rather than have to wait until 2017 for it to drop off. I know it’s near impossible to do but I’m going to try, I’ve had a clean credit record for the past three years and have even been able to obtain credit cards but my hopes are to apply for a mortgage in a years’ time when I have enough deposit saved, but know that defaults are practically a no no for mortgages.
Any help or advice would be very much appreciated.
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Comments
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Does anyone know how I should proceed? The default is legitimate but I’m hoping to try and have it removed, rather than have to wait until 2017 for it to drop off.
No chance unfortunately, the whole point of a credit file is for it to reflect true facts about your payment history.
Pay the default and wait until 2017 for it to drop off your file.
On the flip side, they should stop all collection activity while the account is in dispute and they must send any agreement relating to the account within 12 working days of receiving your request, however as it's not a credit card or loan, I don't think they would have a credit agreement, or are required to produce one. Someone shall be along shortly to confirm this.0 -
Thanks Mr Silk. The debt was settled back in 2011 so there is no outstanding liability from my point of view, the record is correct and showing as settled I was just hoping for some kind of loop hole that I could use to have a crack at having the record removed. Though I am also resigned to the fact it's probably impossible. I didn't ever receive a notice of assignment when lowell purchased the debt from shop direct, I was hoping to use that as some kind of leverage. Thanks for your reply though.0
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Ah, in that case, as it was settled in 2011, they wouldn't have any paperwork as the account has been settled.
No loop hole unfortunately, You'll have to wait until the default drops off your file.0 -
They are correct in that for settled accounts, they do not have to send you a copy of the agreement under a CCA request.
They do however, have to justify why they placed the default.
If you are in any doubt as to the validity of the default or it's date, send a written complaint. If they can't prove it should be there, you could ask to remove or refer to FOS.
They will likely have the records.:beer:0 -
Who was the debt with? Did they have authority to report your information to the CRA's?
If they cannot substantiate they you gave the original person you debted to permission to process your personal data in such a way as they are currently, then you may be able to pull them up on this. Just because a debt is settled does not mean you have given them authority to process your personal information.0 -
happy_bunny wrote: »They are correct in that for settled accounts, they do not have to send you a copy of the agreement under a CCA request.
They will likely have the records.
Would they not have to substantiate your consent under the DPA still? Regardless of settlement could you not claim duress as a reason to pay and a lack of consumer knowledge as to why this was not challenged at that point.0 -
you can get a mortgage with old settled defaults.
Ask on the mortgage board.:beer:0
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