Lowell advice needed

emma809

Hi guys looking for advice I have received 3 letters from Lowell for store cards amounts 500 pounds, 800 pounds, 500 pounds! History is I had a baby split with partner and struggling a bit! Looking for advice can I set up a payment plan? Was thinking 10 pounds per month for each, do they need proof of income? Also I'm really scared can they take me to court I keep reading things about making me bankrupt if they see you own a house! I'm a homeowner mortgage all up to date though but just scared what could happen! Any advice grateful I have no experience of this! Many thanks

Tixy

Hi

Presumably you agree that these 3 debts are all yours? If you are not sure then the first step is to send them a prove it letter - Letter when you know nothing about about the debt - AKA "Prove it" letter

Yes you can set up a repayment plan. How much can you afford a month towards these debts? are they your only debts (excluding the mortgage)?

It is best to communicate only in writing with debt collectors. No you do not need to give them proof of income, and if they ask for it tell them no. They may ask for an income & expenditure statement but again you don't have to provide this (although some people choose to).

If you set up a repayment plan then they are unlikely to take court action against you, if you don't then it is a possibility. You wouldn't be made bankrupt for this level of debt.

emma809

Hi thanks for reply I have another couple of similar debts but paying them! Mortgage is up to date and a loan up to date due to finish next year! Just worrying! Ok I will contact in writing and make offer of 10 pounds a month to pay each! I would rather do this and pay off debt eventually! Can they add any more charges?

supermassive

Lowell, the heavenly saints of debt collection.

I'd be be bit cheeky and ask them to reduce the overall amount, too. They're able to do it, but just don't unless you ask.

Tixy

They may be able to continue to add interest/charges (will depend on your original agreement with the original creditor) but they often don't.

If you agree the debts are owed and the current balances are accurate then in your reply I would put something along the lines on this para in your letter

"In view of my circumstances please would you agree to accept a reduced offer of £ per month. If interest or other charges are being added to the account I would be grateful if you would freeze these so that all payments made will reduce what I owe you.

Should my circumstances improve I will contact you again.

I would be grateful if you would send a standing order form to make it easier to pay you."

McKneff

Never sign your name at the bottom of anything.


Always print it.....

emma809

Many thanks guys!

teffers

I got a fair result dealing with Lowell (with the help of people like Tixy and fermi).
Great advice already given.
As mentioned only deal with them by letter. It may take a little longer but it's the best way.

Be firm with them, you don't have to provide your income details (as Tixy said) - You tell them what you can afford, you don't need them to work that out for you

They may ask you to complete a standing order form and send it to THEM, don't, you can just as easily set one up with your own bank using the details they give you.

Stay in control, keep calm, be firm, only deal by letter and you should be golden.

Best of luck

DalePie

Hi Emma,

I hope this makes sense, I thought I'd list what you need to do: :beer:

1. Send the "prove it" letter. You want to see original letter of assignment plus original agreement signed by you. Anything other than that makes debt unenforceable in a County Court - you win!
2. If you get this back, check it fully because they do make errors that mean the agreement is unenforceable - you win again!
3. If everything checks out, go through a charity like Step Change for the agreement. This provides a little bit of safety and security (Read Below)

Don't acknowledge the debt or pay anything off at first. Task them with finding evidence the debt is yours first and once that's been done you'll be able to get an agreement in order.

The reason I mention Step Change is that DCA's will try to get you to pay more; they'll ring at all hours, send you nasty letters and everything in-between.

If you go through a proper debt charity they'll take care of the admin work for you and also provide a buffer, you simply send all nasty letters to them.

Lowells are one of the DCA's who are also not averse to dropping a CCJ claim from Northampton (The mass clearance Unit) to try and scare you into paying more. Running your agreement through a proper agency will help you battle this.

Above all, steer clear of those debt management companies! They are crooks! Just stick to the charitable agencies and you'll be fine (A full list is in the debt part of MSE)

Hope that helps

emma809

Hi guys because I have made payments to these companies does that not make it enforceable! These were store cards taken out 2004! Still worrying about the fact I have a mortgage can they make you sell your home or would that be if I refused a payment plan many thanks again

Tixy

No you won't lose your home or be made to sell it.

When did you last make payments towards these debts? did you pay lowell or did you last pay the original creditor?