Lowell’s bit of advice needed

bart70

I have been paying off all my debts and defaults on the road to becoming debt free and this is my last obstacle. Lowell’s hold 4 accounts 2 are credit cards and 2 are statue barred. I have a standard email in which I offer a full and final settlement which I adjust to each company. I offered a payment to Lowell’s to settle one of the cards and explained that I would make a offer the following month on the second. 

They replied wanting full background of my financial situation and how I was funding this offer. I explained I am long term sick etc and have been receiving help
from my family to clear my debts with me been unable to work. Now they want a full background on how my health affects my daily living etc! They are also asking if I will pay the statue barred accounts too.

I just want to pay my account, preferably with a discount, as they purchase debt for 10/15pin the pound so I offered 25p in the pound  as this seems fair. But they are refusing to even look at my offer until I give them all this extra information. Am I going insane for just wanting to repay my debt or did DCA’s become social workers! 

Has anyone else had this issue? If I refuse to pay the barred debt will they be awkward regarding the current debts? Any general advice on dealing with this would be appreciated. Thanks in advance. 

DjangoUnchained

tell them to get stuffed

sourcrates

Its all about affordability, and FCA rules, they have to be sure you are not funding this payment by further borrowing, or exposing yourself to more financial problems by paying this debt, they are actually attempting to help you, albeit because they have been told to do so by the regulator, but non the less these measures are designed to protect you.

If a debt is statute barred, then No you don`t pay it, time has run out to collect on said debts, and you just tell them so in writing.

Its all a numbers game to Lowell, its business, not personal.

TripleH

Do they acknowledge the 2 accounts that are statute barred?

If so, just state account statute barred and omit from calculations.

fatbelly

I think you should play this with a straight bat.

Tell them as much as you are comfortable with about your health.

If you are not intending to settle the statute barred accounts, say so. If it is 6 years since the default and you have not acknowledged those debts by payment or in writing then Lowell are usually OK in accepting that. It may have been a better tactic to get Lowell to admit that, in writing, in advance of the F&F negotiations.

At the end of the day, Lowell are pretty good at handling these sorts of accounts

bart70

Thank you for input guys. I just don’t see why they need my health information and they state they share it with third party’s? Seems a bit too much. 

They told me they hold the 2 statute barred accounts and asked if I wanted to pay them. Something I’m not use to lol my main concerns are giving them my financial income etc and then they share that with a third party. Also not been offered a discount but forced to pay it monthly. One of the debts is for £468 for a card that had a £200 limit! In other words fees that are not fair or possible even legal have been added. But at the same time once these 2 accounts are paid I’m debt free! So I just want to make a offer and for them to say yes or no. Wasn’t a problem for the other companies, just Lowell’s wanting more 

peteuk

I have always found Lowell's approachable, they have had a couple of my debts at different times over the years.  Most of the time speaking to them cuts out a lot of the problems. 

As stated above they will need to ensure your not putting yourself in to further debt by paying off these debts.  Especially if you've been unable to work for such a time.   I would go back to them and clearly state that your plan for both active debts is this.  There is nothing stopping you from making an offer to them.   eg I have family gifting £500 and want to pay off both debts with it, will you accept £250 each.  Worst they can say is No!