Interest Charges on debts with a DMP

kittykat28

Me again!
I updated Lowells yesterday as I want to keep them in the loop so they stem any further action.
Had a reply this morning saying that they won't be dealing with the Lloyds account anymore as Lloyds have "requested the account be returned to them urgently".....is this liable to be a good sign?

fatbelly

I think it is a good sign. Lowell are debt buyers and they clearly feel they have been sold a dud by Lloyds. It sounds like Lloyds have bought it back.

Given how incompetent Lloyds are, anything is now possible. But the most likely outcome is that they will do nothing, and that one is now finished.

kittykat28

I really hope so!
Im finding it quite funny that the people at Lowells seem to be really accommodating. After having dealt with them on and off over the years the couple of people I have been emailing with seem to be really reasonable!!

sourcrates

kittykat28 wrote: »

I really hope so!
Im finding it quite funny that the people at Lowells seem to be really accommodating. After having dealt with them on and off over the years the couple of people I have been emailing with seem to be really reasonable!!

Dont let that give you a false impression of debt collectors.

The industry was severely slapped on the knuckles a few years ago by the FSA, for bad practices, lots were fined, some lost there consumer credit licence altogether, others were put on notice that they needed to improve, 1st credit, motormile finance, to name but two, after basically bending the rules so much it became laughable.

So yes Lowell are one of the better debt purchasers to deal with, dont be expecting that level of help every time, some DCA`s still work the old way.

russell_101

Hi KittyKat28,
I had a very similar case for a friend. I contacted Pay plan and they provided me with opening balances for each account with each lender and also a full schedule of payments they received. This included the date received the payment and they also gave a full breakdown of how the payment was split to each lender. They provided all of this by email and it was very useful.
I only had dealings with Barclays and Lloyds and Barclays repaid all interest charges straight away but Lloyds were terrible and had to go to Ombudsman and LLoyds eventually paid up.
Therefore just really saying press Pay plan as they should give you the info you need. They went back to 2006 for me when the DMP started.