Lowell - Reduction Offer and CCJ

in Debt-free wannabe
3 replies 281 views
MrLatteMrLatte Forumite
7 Posts
First Anniversary First Post
Forumite
Hi Peeps, 

Had a letter from Lowell offering a 50% discount on two accounts, one being sky and the other Vodafone. I believe they may have cleverly chosen to add in the sky debt into the mix as I'm relatively sure that's no longer on my credit report, but the Vodafone one is. Paying the 50% off reduction would pay the Vodafone amount in full and some on top for the sky account which I believe is no longer on my credit score so it may be a clever way from lowell to recoup that amount.

Anyway, I literally have no problem paying off my debts, I owe them after all. But, do I need to be careful of anything before communicating with them again? Vodafone hasn't been updated since 2018, and sky possibly the same so I don't want to kick start another agreement fresh in 2022 and do more harm than good (could be completely wrong here)

Oh and last question, I've been paying lowell for a CCJ Many years ago, will the ccj drop off after 6 years even though my payment plan exceeds 6 years? 

Replies

  • sourcratessourcrates Forumite
    26.3K Posts
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Forumite
    Lowell will be looking to clear the decks of old debts, hence the discount.

    They could also be nearing the limitation period, depends when the defaults were issued.

    The CCJ will drop off your file on the 6th anniversary regardless of what you do.
    Ex MSE Board Guide.

    More than a third of IVA`s fail....fact.
    Could A Debt Relief Order help you ?
    Never pay a fee for a Debt Management Plan.
    For free non-judgemental debt advice, contact either : Stepchange, National Debtline, or CitizensAdviceBureaux.
  • edited 12 May 2022 at 5:48PM
    fatbellyfatbelly Forumite
    18.1K Posts
    Part of the Furniture 10,000 Posts Name Dropper Cashback Cashier
    Forumite
    edited 12 May 2022 at 5:48PM
    Lowell will be looking to clear the decks of old debts, hence the discount.

    They could also be nearing the limitation period, depends when the defaults were issued.

    and when you last made a payment.

    If there has been a clear 6 year period since the default, and you did not make a payment in that time, you can just send a statute barred letter and that should be the end of it.

    The other thing to note is that a 50% settlement is their opening offer. You can propose a lower figure if you wish - use the National Debtline standard letter which is well worded 
  • MrLatteMrLatte Forumite
    7 Posts
    First Anniversary First Post
    Forumite
    Lowell will be looking to clear the decks of old debts, hence the discount.

    They could also be nearing the limitation period, depends when the defaults were issued.

    The CCJ will drop off your file on the 6th anniversary regardless of what you do.
    fatbelly said:
    Lowell will be looking to clear the decks of old debts, hence the discount.

    They could also be nearing the limitation period, depends when the defaults were issued.

    and when you last made a payment.

    If there has been a clear 6 year period since the default, and you did not make a payment in that time, you can just send a statute barred letter and that should be the end of it.

    The other thing to note is that a 50% settlement is their opening offer. You can propose a lower figure if you wish - use the National Debtline standard letter which is well worded 
    Thanks for your responses peeps, using Aquas included transunion credit report it seems that the date of default for Lowell was Jan 2018, but the other account definitely isn't on the report so I don't think its worth dealing with that. 

    My other question then is my only other default after lowell is with Vodafone for a small amount. If this is still showing on my credit report as Vodafone does that mean they haven't passed it onto a debt collector? They've not updated the credit agencies with an update since October 2018. 

    Last thing, will clearing these default balances to £0 have any affect on the credit reports or are they too old to make much difference? 


Sign In or Register to comment.
Latest MSE News and Guides

Boost your Nectar points

Get up to £25 this Saturday

MSE News

Preparing for summer

What MoneySaving things can you do now to get ready?

MSE Forum

Hot Diamonds 40% off code

Including already-reduced outlet stock

MSE Deals