Lowell debt help

frenchplonka

Good afternoon I have quite a bit of debt with Lowell group which was in a payment plan which would take 4 years to pay roughly the amount of debt was say £1.5k could be a touch less all my own fault however i was made unemployed and this payment plan lapsed and i just ignored the letters again.

However going forward I have to options

I can set up a payment plan again as im now employed again OR I could offer to pay a % of the total debt and get it off my credit files however i have to questions

1: Is it true it will show on my report as partial settlement which isn't good?

2: If i went down the partial settlement route what should I offer as I really dont have much money but do have a whiplash claim coming through in the next few weeks.

mcjordi

start at 25% of the total you owe them
it doesnt really matter at this stage wether it says partial settlement or settled as you most likely will have a default anyway so credit file is knackered anyway..
have you asked them for a CCA? they may not have one and this puts you in a very good posistion for negotiations

fermi

1. If defaulted, then a partial flag is neither here not there.

2. I would keep that in your back pocket for now.

When were these accounts first taken out with the original creditor? What sort of accounts?

frenchplonka

fermi wrote: »

1. If defaulted, then a partial flag is neither here not there.

2. I would keep that in your back pocket for now.

When were these accounts first taken out with the original creditor? What sort of accounts?

TBH I have no idea as to when these were taken out they are still on my credit report and 4 mobile phones bills and a provident loan for a total of £1561.09p

frenchplonka

mcjordi wrote: »

start at 25% of the total you owe them
it doesnt really matter at this stage wether it says partial settlement or settled as you most likely will have a default anyway so credit file is knackered anyway..
have you asked them for a CCA? they may not have one and this puts you in a very good posistion for negotiations

What is a CCA?

SPELLKASTER

If Lowell purchased your debt, did they send you a deed of assignment or a notice of assignment?

fermi

frenchplonka wrote: »

What is a CCA?

Consumer credit agreement

Does not apply to phone debts, but will the provident loan.

See: https://www.nationaldebtline.org/EW/factsheets/Pages/gettinginformationfromyourcreditors/Page-02.aspx

frenchplonka

SPELLKASTER wrote: »

If Lowell purchased your debt, did they send you a deed of assignment or a notice of assignment?

Not that im aware but tbh i wouldnt know what one was if they did all i have ever had is generic letters saying you now owe X we are acting on behalf of X who have sold the debt to us

frenchplonka

fermi wrote: »

Consumer credit agreement

Does not apply to phone debts, but will the provident loan.

See: https://www.nationaldebtline.org/EW/factsheets/Pages/gettinginformationfromyourcreditors/Page-02.aspx

Assuming they dont have this or dont send me this then what?

frenchplonka

Below is a quick email I have sent to lowell group asking for all details of my accounts and outstanding amounts owed does this look ok?

Good afternoon I am looking to bring my affairs into order however I need a full list of liabilities to Lowell Financial for the following ref number 148180672 along with any other outstanding accounts I hold with you.

I will then get back to you once I have gone through all my available options to try and come to some arrangement

I also would like when this debt was purchased by yourselves along with when if any defaults have been logged against my credit report.

fermi

frenchplonka wrote: »

Assuming they dont have this or dont send me this then what?

If it should be unenforceable in court, then you would obviously have very much increased bargaining power.