Lowell Offering 90% Discount

[Deleted User]

I received a letter about my account this morning. The remaining balance is £389.00.

The letter...

"90% Discount Offer

If you contact us by XXX to arrange to settle this account in up to three payments, we'll give you a 90% discount. This means you'd pay £38.90 to settle your account."


Does this mean I can accept the offer and still pay the reduced amount of £38.90 over three payments?


Should I get some sort of proof that I have paid and they wont chase me in the fiuture for the rest of the balance?

Thanks

fatbelly

Well, that's what they are offering. At that level can you pay in one lump?

Just keep the offer letter.

However at that level of discount it sounds like there may well be something dodgy about the debt. Is it actually yours? Has there ever been a period of six years when you did not make a payment to it?

[Deleted User]

That's what made me think is it going to come back and bite me at a later date.

However I know the debt is mine, I fully acknowledge its mine and when the first letter came in last year about it I checked the 6 year thing, so I already know there hasn't been a period of 6 years lapsed.

fatbelly

MarkN88 wrote: »

That's what made me think is it going to come back and bite me at a later date.

However I know the debt is mine, I fully acknowledge its mine and when the first letter came in last year about it I checked the 6 year thing, so I already know there hasn't been a period of 6 years lapsed.

Then an offer to settle for 10p in the £ is a good one.

sourcrates

MarkN88 wrote: »

That's what made me think is it going to come back and bite me at a later date.

However I know the debt is mine, I fully acknowledge its mine and when the first letter came in last year about it I checked the 6 year thing, so I already know there hasn't been a period of 6 years lapsed.

Lowell make these offers from time to time, they will readily agree to give you a written statement that the remaining balance will not be chased, if you ask for it, and you can pay the discounted balance over 3 payments, all legit.

[Deleted User]

Thanks, just wanted to check, I’ll contact them.

[Deleted User]

At that offer it's probably already statute barred or some debt that has never been on your credit file and can't prove.

I can remember getting similar letters from Lowell for debts that were barred and for some old insurance admin fees that I apparently owed from donkey years ago.

sourcrates

Deleted_User wrote: »

At that offer it's probably already statute barred or some debt that has never been on your credit file and can't prove.

I can remember getting similar letters from Lowell for debts that were barred and for some old insurance admin fees that I apparently owed from donkey years ago.

That can be the case, but I’ve settled debts with Lowell on this basis for an account well within statute, and they managed to find the correct paperwork three times over 5 years, I was quite impressed with that actually.

[Deleted User]

Ill just double check my credit reports too in that case just to see for sure.