Can action be taken after a default drops off?

stewartwilliams

Got a defaulted credit card with Lowell.
The default dropped off a couple of weeks ago after hitting the 6 year point and there's a decent amount left outstanding (£3k+)

I've been paying £25/month off it (nothing forcing me to pay as far as I'm aware, and I've not knowingly had any letters threatening court action etc. and theres been no real hassle from them i.e. letters demanding more)

Going to take quite a few years at that rate to clear it (over 11).  I just tend to make a quick payment at some random time of the month, 10th-20th generally (to be honest, I've had a couple of letters saying "we haven't received your payment this month when it's been made say after the 25th)

I'm sure they could provide a copy of the agreement if I asked for it.

Not sure if I should just stop paying or if I just dropped payments to say £1 and then put that remaining £24 towards savings etc. would cause any issues at this point?

stu12345_2

yes action can be taken after default drops off.
 it only affects your credit file but has no impact on the debt still outstanding 

it only can't be  applied for a ccj f you have never paid anything or acknowledged a debt for 6 years

then it's time barred, creditor can't take you to court.

but you making these gesture payments has not given you that privilege sadly 


you need a better plan than 11 years repayments, ask for a copy of the cca in first instance.

then work out another debt solution than 11 years of low payments 

there have been cases of folk making £1 a month for 10 years on defaulted debts when they could have went for faster , but more serious debt solution

I would ask for the debt to be written off due to your low free available income imo and the time it will take to repay it all after I had done a cca request, if it proves the cca exists 

cos stopping payments and saving up £25 a month is too long to make a full and final offer imo, unless they wait and don't take action and offer you a massive discount 

sourcrates

I bet you £50 million pounds that Lowell do not currently hold any credit agreement for anyone, anywhere at all, nor do any of the other umpteen debt buying companies that operate in this country.

I know this because the original paperwork always stays with the original creditor, every single debt these companies buy, not one of them comes with the required paperwork, so every one who pays the likes of Lowell, or any other such company, without first asking for proof of liability, is not legally obliged to pay them a single penny.

Obviously they won`t tell you that, they want to cultivate mushrooms, not sunflowers, so they keep you in the dark.

Always ask for proof of liability, the odds are more in your favour the older an account is, as on average lenders keep paperwork for 6 years officially, but some keep it a lot less than that.

Rob5342

I'd ask for the CCA, if they can't provide it then that is that simplest solution for you

stewartwilliams

I have no issue paying this off quicker if need be, but other than piece of mind, is there any real point in giving them a load of cash in one go?
There's no interest or charges being added

I assume that as long as payments are being made, they can't take things further?
As I said, they don't seem to be pushing for more (well, one text message a little after a payment today was made ago saying "call us to discuss payments etc.) but that's just a generic thing after a payment has been made - nothing in snail mail wise wanting more, offers etc.

Sly72

sourcrates said:

I bet you £50 million pounds that Lowell do not currently hold any credit agreement for anyone, anywhere at all, nor do any of the other umpteen debt buying companies that operate in this country.

I know this because the original paperwork always stays with the original creditor, every single debt these companies buy, not one of them comes with the required paperwork, so every one who pays the likes of Lowell, or any other such company, without first asking for proof of liability, is not legally obliged to pay them a single penny.

Obviously they won`t tell you that, they want to cultivate mushrooms, not sunflowers, so they keep you in the dark.

Always ask for proof of liability, the odds are more in your favour the older an account is, as on average lenders keep paperwork for 6 years officially, but some keep it a lot less than that.

Just a question so say a CCA has been provided at the begining, and default drops off CF, if you are still paying after 6 yrs could you be sneeky and ask for a CCA again what are the chances of it been re supllied?

Rob5342

stewartwilliams said:

I assume that as long as payments are being made, they can't take things further?
As I said, they don't seem to be pushing for more (well, one text message a little after a payment today was made ago saying "call us to discuss payments etc.) but that's just a generic thing after a payment has been made - nothing in snail mail wise wanting more, offers etc.

Paying doesn't give any legal protection against them taking action, but practically speaking if they are getting money from you then there is little incentive for them to take any action. They will have bought the debt for a small fraction of its value and probably doubled their money years ago. Now they have money flowing in from you for nothing, so they are unlikely to spend time and money on legal action when it probably only result in them getting the same amount anyway. 

Get that CCA request off and take it from there. 

stewartwilliams

What's the link for the CCA please?
Is it still a £1 (crossed) postal order?

Rob5342

I used the one here. I sent a £1 cheque but most of them just sent the cheque back.

https://nationaldebtline.org/get-information/sample-letters/information-about-your-agreement-under-consumer-credit-act/