Lowell finance

PaulC0

Discussing in other thread

**Feel free to delete post**

RAS

Is the debt defaulted?

fatbelly

PaulC0 said:

Hi all

I currently have a debt account with Lowell Finance that was purchased from Jacamo in 2022. I started making payments in Feb '22 on a £3200 balance (now at £1900). I'm currently going through the process of redundancy and this debt is hanging over me like a dark cloud.

What I'd like to know is could I make an offer to settle this debt at a reduced rate, ie 40%, 50% or 60% of remaining balance and what is the likelihood of Lowell accepting. My current arranged payment plan shows the debt clearing by 2029 as I've had to reduce how much I can afford per month. 

Open to suggestions

Thank you

Yes indeed. There may even be a suggested figure on the lowell website if you log in to your account.

However, to get the best deal, first check they hold a copy of the original agreement

https://www.nationaldebtline.org/fact-sheet-library/credit-agreements-getting-information-ew/

And if they do, make a low offer, say 25%, using this

https://www.nationaldebtline.org/sample-letters/full-and-final-settlement-offer/