OH's Capital One debt resurfaced

Sugarhunny1

Hi folks,

My OH has had a letter today from Lowell Financial Ltd about an outstanding amount owed by him to the sum of £1080.65 from years ago and he can remember signing a credit agreement.

Now he's not disputing that he owes this money but alot of it was with charges etc and he was wondering if he should offer a settlement figure and how much?

Thanks in advance for your help!

Sugar xxx

RAS

I would start by checking when you last paid anything on this or otherwise acknowledged it.

There are a number of credit agencies who specialise in buying debt that is or is about to become statute barred for pennies and then try to get money from people who do not know their rights.

In England the time limit is 6 years. In Scotland, I think it is 5 years. Do not contact them until you have checked this out.

Does this debt appear on his credit checks?

Sugarhunny1

I'm not sure. We got together about 4 years ago and he assures me that it was some time before then that he had any contact with them. I'll get him to check out his credit rating later tonight. Can he access it instantly online?

Sugar xxx

Just when we seem to get on top of things.... something comes up and bites us hard!

RAS

http://www.moneysavingexpert.com/banking/credit-rating-credit-score


Does he have his old bank statements?

Sugarhunny1

nope. not that organised im afraid.

lemma1968

Whatever you do DO NOT speak to these people on the phone or acknowledge the debt.

Ask them to produce the credit agreement to prove they have the right to collect it, and the deed of assignment from Cap 1 to them.

That will also give you some indication of how long ago it is.
The procedure is straightforward. The link for a template letter is:

https://www.consumeractiongroup.co.uk/forum/general-debt/20758-creditors-dcas-letter-templates.html Letter N and you can get the ball rolling. The rule is if they cannot produce the CCA they cannot enforce the debt and force you to pay it.

If it is statute barred there is a letter for that as well and we can find that for you.

Check his credit record first and see if it still appears on it. If it does, look at the date and take it from there.

Sugarhunny1

Lemma and RAS,

Thank you both for your advice and time!. Lemma, I have managed to find the template for the credit agreement but i cant find one for the deed of assignment from Cap 1 to them. Could you post a direct link? Sorry!

Thank you!