Defaults on credit file / Lowells

jonnybinthemix

Hey Guys,

Hopefully a quick one, as I've got Lowells calling me back shortly.

I have 3 accounts owned by Lowells at the moment, and I am looking to negotiate a deal with them to settle the accounts.

I asked that if we agree a figure which is not 100% of the debt, will they settle the accounts. They advised that they will only do a partial settlement on the accounts, and that they are unable to mark the accounts as settled. Is this true?

Also, what's stopping them getting a CCJ against me? The accounts add up to 1850, and I've offered them 250 to settle it. Which they're coming back to me with a decision on.

Is my best option to settle for the reduced amount and be happy with a partial settlement on the detaults?

Thanks

[Deleted User]

Correct - unless you pay the full amount they cannot mark them as fully settled - as they haven't been.

And there's nothing stopping them pursuing a CCJ if you don't make payments to clear the debts down.

If they refuse the settlement offer and you can't come to an agreement to pay, then they may go down the CCJ route which will add on court costs

[Deleted User]

Note that if they go for a CCJ on any of the accounts they will send a pre-CCJ letter first. If they do that then that is the time to ramp up the negotiations. A CCJ won't just happen over night.