Do Lowell offer a reduced final amount if already paying?

stewartwilliams

Got a default with Lowell for an old credit card.
Currently paying £25/month of it and they're not bothering me for more.
The default itself reaches the 6 year point in July (4 months time) and there's around £3700 left outstanding.

At the present rate of £300/year, it's going to take over 12 years more to pay this off.

Considering the default drops off and the length of time it would take for Lowell to get all the money, would they offer (or consider) a reduced amount to clear it completely, or do they tend to favour the "token" payments?  Assume either before July or after July.
(not going to risk stopping payments once the default drops off in case they play hard ball)

fatbelly

The answer is yes. They then have to choose between your offer of a lump sum now, or a drip feed of payments over 12 years.

Before you make an offer, have you done a CCA request on this?

stewartwilliams

Haven't done a CCA request as I'm fully aware of the debt, and how I stupidly let it get to the default stage.
Should I do one regardless?

Rob5342

stewartwilliams said:

Haven't done a CCA request as I'm fully aware of the debt, and how I stupidly let it get to the default stage.
Should I do one regardless?

You should definitely make a CCA request. If they can't produce it then they can't take legal action to enforce the debt, and you can simply stop paying it.

PollyPocket4

Hi OP, I’m in a similar situation, I’m paying multiple Lowell accounts consistently but would like to make some offers in the hope of discounts on my debts. I’d love to hear if you had any success?