Multiple Lowell Accounts - F&F Offers

SuperFrank88

Hi,

I have 6 account with Lowell. All defaulted around the beginning of 2020. 

I want to make F&F offers and have downloaded the template sheet. 

Should I send one letter with a low ball offer on the total for the 6 balances or should I send 6 individual letters for each account? 

What is everyone’s experiences with Lowell accepting F&F offers after 3 years defaulted?

Thanks in advance. 

fatbelly

I would send one letter with the offers itemised against each account. I would choose the same percentage for each account - maybe start at 25%

sourcrates

Lowell may be a lot of things, but they are usually open to settlement offers, and also will entertain payment over a period of time as well, if that is any more help to you.

Go with fatbellys advice, one letter, itemised content, and start low, good luck.

SuperFrank88

Thank you both. Will follow your advice and come back and update the post incase it helps others 👍

SuperFrank88

Well, @fatbelly that one email offering 25% just wiped off £7500 worth of debt 🤩 I am over the moon! The email reply I got is below. Should I still ask for written confirmation by post or will this do? 

Thanks also to @sourcrates for your advice. 

“ For clarity, once we have received payment of the above amounts, we will close the accounts and no further payment will be requested. The associated defaults will be updated to partially satisfied within 50 days of the payment being received.”

fatbelly

That sounds ok to me. I have always found Lowell to be professional once you got into negotiations with them.

Well done by the way