Lowell Financial

jrusso

Hi Guys,

I recently got declined for an overdraft so I signed up for clear score on there it says that that I owe money to Lowell Financial.

Truth be told this appears to be for a mobile contract which due to moving abroad and a very hectic and stressful period in my life I had forgotten about.

Co-incidentally, I also got an email this morning from BDO another debt collection company. The amount owed to the mobile phone company was £600 and they are offering to settle for £380.

This debt appears to be the only thing dragging my credit rating down, at least according to Experian/Clear score. The email says:

"In the event a discount option is suitable for you, once we receive your one off, or last instalment payment, we will notify Lowell Financial of the transaction and they will update your credit file as partially satisfied."

So the question is... should I pay up??? I could probably scrape it together. Will partially satisfied be enough to start helping my credit score recover?

Thanks for your advice in advance...

[Deleted User]

Satisfied defaults look better than unsatisfied to future lenders.

But ignore the score, as that means nothing.

David_White

It will still show on your file for six years, however it will be marked as satisfied which as the above poster has suggested looks better to a lender.

lufc7

Just be aware you want them to say the account is 'Satisfied' not 'Partially Satisfied' and you would want them to update the CRA's as such. Say this as part of any negotiation.

jrusso

lufc7 wrote: »

Just be aware you want them to say the account is 'Satisfied' not 'Partially Satisfied' and you would want them to update the CRA's as such. Say this as part of any negotiation.

@lufc7

So, rather than sending off a cheque I should get in touch demanding that it say satisfied? Is that do-able?

lufc7

I would insist on it really. They want to make a quick buck and you want it off your hands. The worse thing that could happen is that they don't budge on the partially satisfied. Don't ask you don't get. Several years ago I managed to negotiate a full and final settlement which came from me, as opposed to them offering me one and I stipulated I wanted my credit files to say satisfied and they agreed and obliged. I would just ask you have nothing to lose. Good luck

adamkonitz

jrusso wrote: »

Hi Guys,

I recently got declined for an overdraft so I signed up for clear score on there it says that that I owe money to Lowell Financial.

Truth be told this appears to be for a mobile contract which due to moving abroad and a very hectic and stressful period in my life I had forgotten about.

Co-incidentally, I also got an email this morning from BDO another debt collection company. The amount owed to the mobile phone company was £600 and they are offering to settle for £380.

This debt appears to be the only thing dragging my credit rating down, at least according to Experian/Clear score. The email says:

"In the event a discount option is suitable for you, once we receive your one off, or last instalment payment, we will notify Lowell Financial of the transaction and they will update your credit file as partially satisfied."

So the question is... should I pay up??? I could probably scrape it together. Will partially satisfied be enough to start helping my credit score recover?

Thanks for your advice in advance...

When's the default from - what date is it? If it's well on the way to six years, I would just sit it out and wait for it to drop off.

I'd also seek advice from other forums as well - opinions on two or three are always better than one.

Furthermore, don't trust Lowell - they have a bad reputation for a reason.

jrusso

The default is from 2012.

TakeItAsRed

There was a time long long ago that i had a mobile phone default with Lowell from 02.

I paid them the money on the condition that the default was completely removed from my credit file. They did this within 48 hours of me paying them the money. If you PM me, i will provide you with the email that i sent and the POC i had for LOWELL.

GingerBob_3

TakeItAsRed wrote: »

There was a time long long ago that i had a mobile phone default with Lowell from 02.

I paid them the money on the condition that the default was completely removed from my credit file. They did this within 48 hours of me paying them the money. If you PM me, i will provide you with the email that i sent and the POC i had for LOWELL.

That's interesting. We are told time and again here that companies can't remove blacklist markers because they "represent the truth". We're even told that it's illegal for them to do so :rotfl:


This seems to be the answer then! "I'll only pay if you de-blacklist me". Worked with the Lowell scumbags. I wonder if it would work with others?

fermi

GingerBob wrote: »

That's interesting. We are told time and again here that companies can't remove blacklist markers because they "represent the truth". We're even told that it's illegal for them to do so

Yes, and we know claims that this is so is a complete load of ballhooks.