LOWELL Discount

Brandon889

Hi I got a latter from Lowell for my debt of £15,263.45 they have offered me a 50% reduction which is £7,631.72 I have never made any payments on this debt ever and I've had it for about 6 years I've never responded to any letters or calls. Is it as straightforward as me now paying the 7k and not having any problems in the future.

Mark_d

It does sound like that.  However you could always clarify, the them, that the payment of 7k will mean the end of your liabilities in respect of the debt to Lowell

Nasqueron

If it's reaching the 6 year mark and you have never acknowledged it, they may be trying for a last Hail Mary of a payment before it is statute barred. The question will be when the 6 year mark is from when you last acknowledged or paid the debt. Did they take out a CCJ on you?

Brandon889

Nasqueron said:

If it's reaching the 6 year mark and you have never acknowledged it, they may be trying for a last Hail Mary of a payment before it is statute barred. The question will be when the 6 year mark is from when you last acknowledged or paid the debt. Did they take out a CCJ on you?

I never acknowledged the debt to any of the collectors I don't have a CCJ. The debt is from the natwest group plc. And is over the 6 year mark

Brandon889

Mark_d said:

It does sound like that.  However you could always clarify, the them, that the payment of 7k will mean the end of your liabilities in respect of the debt to Lowell

It does state "by providing this discount were letting you pay less then is due under your original agreement. your payment plan is a non-contractual waiver of your rights and doesn't change the terms of your original agreement."

Mark_d

Nasqueron said:

If it's reaching the 6 year mark and you have never acknowledged it, they may be trying for a last Hail Mary of a payment before it is statute barred. The question will be when the 6 year mark is from when you last acknowledged or paid the debt. Did they take out a CCJ on you?

Good spot about it being statute barred.

Clive_Woody

Brandon889 said:

Nasqueron said:

If it's reaching the 6 year mark and you have never acknowledged it, they may be trying for a last Hail Mary of a payment before it is statute barred. The question will be when the 6 year mark is from when you last acknowledged or paid the debt. Did they take out a CCJ on you?

I never acknowledged the debt to any of the collectors I don't have a CCJ. The debt is from the natwest group plc. And is over the 6 year mark

https://www.stepchange.org/debt-info/can-i-write-off-debt/statute-barred-debt.aspx

Nasqueron

Brandon889 said:

Nasqueron said:

If it's reaching the 6 year mark and you have never acknowledged it, they may be trying for a last Hail Mary of a payment before it is statute barred. The question will be when the 6 year mark is from when you last acknowledged or paid the debt. Did they take out a CCJ on you?

I never acknowledged the debt to any of the collectors I don't have a CCJ. The debt is from the natwest group plc. And is over the 6 year mark

You need to be clear here - not to the debt collectors, when was the last time you acknowledged the debt in general? If it is over 6 years since you last acknowledged it and they have no CCJ then your debt is statute barred and cannot be enforced, so send them the statute barred letter.

fatbelly

It sounds like they are offering a hefty discount because they know it's unenforceable and effectively worthless.

If you want to make a contribution to Lowell then go ahead but there are more worthwhile charities out there

sourcrates

The limitation act allows creditors 6 years to collect simple contract debts such as this, the clock would have started ticking from the date the account defaulted, and as long as you have not made payment or acknowledged the debt in writing within the last 6 years, and no legal action was taken, the debt will be statute barred, and you will not have to pay it.

When creditors/collectors make such massive discount offers, there is always good reason why, in this case the debt is worthless, as it cannot be enforced, so they are hoping you are unaware of the law surrounding this type of thing.

As others have said, you should respond with the statute barred letter in order to deal with this correctly.