Lowell Help

sourcrates

It's working for me ?
Anyway, this is the template letter :

9 April 2016

Dear Sir/Madam


Account No:

Please send me a copy of the above credit agreement and a full breakdown of the account including any interest or charges added.

I understand that under the Consumer Credit Act 1974 (sections 77-79), I am entitled to receive a copy of any credit agreement and a statement of account when I request it. I enclose a payment of £1 which is the fee payable under the Consumer Credit Act 1974.

I understand a copy of any credit agreement along with a statement of account should be supplied within 12 working days.

I understand that, under the Consumer Credit Act 1974, creditors are unable to enforce an agreement if they fail to comply with the request for a copy of the agreement and statement of account.


I look forward to hearing from you.

Yours faithfully

Maybe1day

Ah thats very kind of you, thank you, maybe it's my tablet playing up then! I've been sat all day thinking,...stupid website hahaha

kgw1009

fermi wrote: »

Nothing on your credit report can reliably tell you when the debt becomes statute barred.

That is'nt strictly true though is it?

If a report from say 2009 shows a reported default and balance and then a report from 2016 shows exactly the same thing updated each month would that not prove it was 7 years without any change?

I only ask because I had an account that dropped off my file a year ago now and Crapquest still ask me to pay but it was actually statute barred in 2014. I was thinking that my reports would prove my case anyway.

Just thinking Fermi that's all. What do you think?

fermi

I would stress the word reliably, and that would not 'prove' it.

- Creditors and especially DCAs are often not reliable at updating balances, so where the balance has not changed that doesn't mean that a payment or especially an acknowledgement was not made.
- Once defaulted, status stays a D or 8 even if you make payments, with just the balance meant to be (often not) updated regulatory, so actual payment info is not shown.
- It drops off your report 6 years from the default, no matter the payment history or statute barred status.

What is on your report can in some cases support what you may already know or think you know from other sources, but even then as reporting by creditors and especially DCAs is unreliable and error probe to say the least, then it can't be said to be reliable evidence in any shape or form.

Have seen more than once people misled by what is, was, or is not on their report into thinking a debt is SB, then other info coming to light to squash that conclusion.

Maybe1day

So far Lowell have got back to me regarding my previous emails, which they were ignoring for some time! But have not responded to my requests for further details regarding each account.

They have stated that they have more accounts for me that are showing on any credit report?

And have also said I can accept a settlement figure and then pay it off, now this really confused me as previously they said I can accept a settlement figure but must pay it in full as soon as accepted. I have checked both today's and the really old email I had and they definitely say that, so which is the truth?

Pegasus_1981

Your defaulted debt has been sold to Lowell by the creditor you defaulted with, your original debtor haven't logged a default and Lowell have given you chance to pay.

If you don't they log a default with you, once you settle with them they'll satisfy it.

I've had the same with 2 accounts and I negotiated 40% off both accounts to settle the accounts.

They take an age to update credit beurous but it will be updated after around 30 days, they're very easy to negotiate with if you're assertive with them.

I walked all over one women there to get to 40% off and played hard ball, they're scoundrels compared to people like Cabot but play fire with fire and you'll come out toasty but satisfied :j

Maybe1day

Did anyone know the answer to this bit? ............

"And have also said I can accept a settlement figure and then pay it off, now this really confused me as previously they said I can accept a settlement figure but must pay it in full as soon as accepted. I have checked both today's and the really old email I had and they definitely say that, so which is the truth?"

Also I've received a further email saying they are giving me 90days to get all paperwork in order and will take no further action in that time, but they have not yet responded to my CCA

sourcrates

Maybe1day wrote: »

Did anyone know the answer to this bit? ............

"And have also said I can accept a settlement figure and then pay it off, now this really confused me as previously they said I can accept a settlement figure but must pay it in full as soon as accepted. I have checked both today's and the really old email I had and they definitely say that, so which is the truth?"

Also I've received a further email saying they are giving me 90days to get all paperwork in order and will take no further action in that time, but they have not yet responded to my CCA

Ok, your looking at this from the wrong angle, if you want to settle the account, for a fixed amount, and then pay that amount off over time, then tell Lowell that's what you want to do.

Don't ask them, insist on it, they have done this before, it gets offered quite regularly in correspondence.