The big bad Lowell question!

Mr.Wrong

Hey everyone,
So I currently have the following debt:
£4000 with lloyds
£673 with Lowell
£830 with Lucas credit services


The lloyds is currently not being paid and I have not got a payment plan in order with them.

With Lowell I am paying £50 on the first of every month(starting May1st)

With Lucas I am paying £15 fortnighly (ongoing for 3 weeks now)

I would you like to pay off Lucas and Lowell right now, well I would like to make an agreed lower amount payment in full.

I found a letter from Lowell dated 7/12/2015 saying they are offering a 40% discount on the debt.

What amount should I offer on the debt now with the total amounts to pay off in full?
I was thinking around £350 for each

Any help appreciated

Keezing

Hi Mr Wrong,

Have a read through this thread for some tips and experiences:https://forums.moneysavingexpert.com/discussion/115430

You should start with a CCA request (https://www.nationaldebtline.org/EW/sampleletters/Pages/Information-about-your-agreement-under-the-Consumer-Credit-Act-%28sole-name%29.aspx) to find out if the debt is enforceable. If it's not, you can expect much bigger discounts.

sourcrates

Lowell quite regularly offer discounts of up to 60%.

Sure some kind of deal could be struck.

National_Debtline

Hi

I agree with the advice from Keezing on making a CCA request. When you come to make full and final settlement offers make sure the creditors accept your offers in writing before making a payment.

This factsheet goes into more detail on making offers:

https://www.nationaldebtline.org/EW/factsheets/Pages/fullandfinalsettlementoffers/lumpsumoffers.aspx

James
@natdebtline

Mr.Wrong

Hi all so I know the debts are both genuine and the numbers are correct as I remember them very well.
I emailed Lowell and Lucas to offer £200 settlement payment.
Lowell replied straight away,
What do I reply? Obviously it's because I want to pay less but how do I tell them that? Can't find any help on replying to a question like this anywhere.

See picture in link
https://ibb.co/bz1QOv

Many thanks

Keezing

Mr.Wrong wrote: »

Hi all so I know the debts are both genuine and the numbers are correct as I remember them very well.

That's got nothing to do with whether the debts are enforceable or not.

It sounds like you've gone ahead and made an offer regardless, so hopefully you will get the discount you are looking for! :-)

Mr.Wrong

The debts are from orange phone contracts, sorry to jump the gun with sending them offers.
My girlfriend is nagging at my heels to get this all sorted and I'd never have time to get two postal orders for £1 sorted out and then posted for a CCA request ��

Mr.Wrong

And the Lucas had actually become a CCJ
Is there a way of paying the £1 online for them to do so? I would much rather email as I am in the process of changing address

Keezing

Mr.Wrong wrote: »

The debts are from orange phone contracts, sorry to jump the gun with sending them offers.
My girlfriend is nagging at my heels to get this all sorted and I'd never have time to get two postal orders for £1 sorted out and then posted for a CCA request ��

Ah ok, not sure if CCA applies to phone contracts anyway!

Try the template in this guide: https://www.nationaldebtline.org/EW/factsheets/PDFs/24%20EW%20Full%20and%20final%20settlement%20offers.pdf

Explain that a family member has offered you some help with your debt but only has limited funds, and if they do not accept your offer the funds will be offered to a different creditor.

Mr.Wrong

Yes, I'll do what you suggest.
Thank you for your time, I'll update regularly.

sourcrates

Mr.Wrong wrote: »

The debts are from orange phone contracts, sorry to jump the gun with sending them offers.
My girlfriend is nagging at my heels to get this all sorted and I'd never have time to get two postal orders for £1 sorted out and then posted for a CCA request ��

CCA does not apply to mobile phone contracts.

If/when you make a CCA request to any other relevant account, it must be done in the form of a letter, and it must contain the £1 statutory payment, normally in the form of a cheque or postal order.

Otherwise it is not a properly legally executed request.