Lowell has bought provident loan after 5 years?

Thrugelmir

mell77 wrote: »

some people say just ignore Lowell as they just buy years old debts for pennies,

As far as the original lender is concerned they do not the in house resources to track down delinquent account holders. So selling the debt for something is better than nothing. Companies such as Lowells are geared to chase in old debts.

The weapon they hold over you is a CCJ. So there's no where to hide. You'd certainly be better off attempting a negotiated settlement rather than stringing matters out.

sourcrates

There are no "hard an fast" rules on this.
Some people ignore debt collectors completely, and get away with it owing thousands.
Others get CCJ`s for £200 debts.

Its all down to how much money they can realistically get back from you, in order to do this, they may check your credit file, to see how much money you owe other lenders, check to see if you are working etc.
It used to be, on average, if a debt was 5 grand or more, you risked been taken to court, but in recent times, there have been stories of people taken to court for as little as £200, as times have changed.

Its best practice to never ignore a debt collectors letter, always challenge such a letter, first by sending the "provit letter" to them.
Depending on the response to this, determines your next move, ignoring completely can lead to a CCJ by default, so is never a good idea.