Lowell Debt Collectors

Justice13075

After having paid a couple of repayments on a loan in 2011, I defaulted and Lowell bought the debt in 2013. I have been out of the country for a couple of years and upon checking my Experian credit file found the default. I have had no communication with Lowell but I assume that when they bought the debt they would have tried to contact me but with no luck. Should I let it run another 18 months when it will be 6 years and statue barred or contact them and ask for proof of debt. I don't know if they will have the original loan agreements after all this time.

Voyager2002

Why not just pay it?

Justice13075

I don't have the money it's over £3,500 maybe i can make an offer then pay in instalments?

sourcrates

Loweell will accept almost any offer of payment you can afford.

It can all be done from there website, no need to talk to anyone.

Justice13075

What do you think they will accept on a £3,500 outstanding balance and would I be able to pay that monthly?

sourcrates

Justice13075 wrote: »

What do you think they will accept on a £3,500 outstanding balance and would I be able to pay that monthly?

As I saiid, whatever you propose, they will most likely accept.

As low as £10 on that kind of debt.

fatbelly

Justice13075 wrote: »

After having paid a couple of repayments on a loan in 2011, I defaulted and Lowell bought the debt in 2013. I have been out of the country for a couple of years and upon checking my Experian credit file found the default. I have had no communication with Lowell but I assume that when they bought the debt they would have tried to contact me but with no luck. Should I let it run another 18 months when it will be 6 years and statue barred or contact them and ask for proof of debt. I don't know if they will have the original loan agreements after all this time.

There's something missing from your post. If you believe it will be statute barred in 18 months, then something must have happened 4.5 years ago. What was that?

Your post otherwise reads like you stopped paying in (some month) 2011 and walked away from it. In that case it would be statute barred in (some month) 2017.

In the meantime, they're not contacting you (though they may do now you have updated your credit files). Why poke it with a stick?

Justice13075

in 2013 Lowell bought the debt I thought that would start the 6 years again.

sourcrates

Justice13075 wrote: »

in 2013 Lowell bought the debt I thought that would start the 6 years again.

No, only a payment by you, or written acknowledgement by you, re-starts the Limitations period.

Justice13075

Firstly I am doing this for my son who informs me that he cannot remember if he ever made any payments to the loan provider, if he did it would only have been 1 or 2. He took the loan out in Feb 2011. The debt has been bought by Lowell not exactly sure when but the default is dated January 2013. 2 years after he defaulted that seem a long time.

sourcrates

Justice13075 wrote: »

Firstly I am doing this for my son who informs me that he cannot remember if he ever made any payments to the loan provider, if he did it would only have been 1 or 2. He took the loan out in Feb 2011. The debt has been bought by Lowell not exactly sure when but the default is dated January 2013. 2 years after he defaulted that seem a long time.

The default date is irrelevant here.

It's the cause of action date, the date of his last payment, or written acknowledgement, that is important here, that is the date the Limitations clock runs from, not the default date.

They are two seperate things altogether.

So chances are it became statute barred in April or may this year.