Lowell Portfolio Ltd.

misssunshine92

I have two accounts with Lowell Portfolio Ltd which I have been repaying since 2012, a whole 8 years.
One of these accounts is now just under £300 remaining and the other is around £1,200 remaining.
I have seen people do a ‘three letter process’ which has seen their debt written off by Lowell, what is people’s experience of this?

Around the time of 2012 I had various debts with defaults but I was lucky enough to get on top of everything and as it stands my credit score across various sites is now very good, I have no defaults or CCJs to my name. Everything is in very good shape.
I’m worried if I approach Lowell about writing off the debts, it’ll jeopardise my credit rating which is why I’m asking if anyone else been down this route?

Thank you in advance.

sourcrates

Hi,

Millions have been down a similar route lets say, you are late to the party.

If the debts no longer show on your credit file, then nothing you do can change that, you don`t have a credit rating in the UK, the number you see is just used as a marketing gimic, the number rises and falls according to any kind of change, good or bad, no one see`s this number but you, creditors all have their own scoring system, that they use to determin wether to lend to you, or not.

Now, the so called 3 letter process, ugh, where do i start with this, basically its rubbish, its all freeman of the land type stuff, and is a complete and utter waste of time, in that format.

If you want to challange the validity of a debt, then its your right to do so, you write and ask for proof of liability, this is usually in the form of a credit agreement, you make a request under sec 77/79 CCA 1978 for a copy of your credit agreement, failure to provide a satisfactory response results in the account becoming unenforcable in court.

National Debtline cover it here ;

https://www.nationaldebtline.org/EW/sampleletters/Pages/Information-about-your-agreement-under-the-Consumer-Credit-Act-(sole-name).aspx

The 3 letter thing ultimitly depends on the ability of the creditor to provide proof of liability, or not, so 3 letters are unessessary, you send the correct letter as required by the consumer credit act, and not a bunch of fairycake lunatics, and don`t forget the £1 statutory payment by postal order or cheque.

mufc689908

Both debts are not on your credit file. Pay £1 a month on both and don’t worry about it. 

I have suspended paying 4 old debts at £1 a month for 90 days because of the current crisis.