Lowells Debt

hoverFrog1

I have an old credit card with Lloyds Bank, passed to one debt collection agency after another. My last payment was on 20th November 2018 so it isn't statue barred. I've gone through the whole process of verifying that they have the evidence to take me to court if they need to. It is enforceable.

The debt is for £2051.83. I think I should offer them a lower amount. How much would be reasonable as a full and final offer? £500? £1000? I don't have the money but I may be able to raise it in a month or two.

Is there an alternative to this to avoid court action? I am sure with the debt becoming statute barred in November that they'll take me to court. They haven't yet threatened court action but I don't think that they need to do so in advance, do they?

Thanks.

fatbelly

It's 3 months off being statute barred (unless you are in Scotland). Now is not the time to be acknowledging the debt. Keep your head down and if you get a letter before action respond like this

https://debtcamel.co.uk/letter-before-claim-ccj/

Read the article. It is a mandatory requirement for them to send this

hoverFrog1

That is very useful. Thanks. I guess this one will sit in a pile with all the other letters I've received over the years.

sourcrates

Yea, they have to send an LBA first with a 30 day return window.

Is it still owned by Lloyds?

Because original creditors won`t take legal action, and collection companies cant either as they don`t own the debt.

Don`t !!!!!! it up by writing to them.

HillStreetBlues

OP glad to see you posted before doing something rash like admitting 5 3/4 year old debt.

hoverFrog1

Without any prompting on my part Lowell has offered me a 70% reduction. £2051.83 knocked down to £615.55. I have to say I'm tempted. If I had the money, that is.

Rob5342

It sounds like they know it will become statute barred soon and have made a last ditch attempt to get some money out of it. If it will be statute barred next month then you shouldn't be tempted by anything.

hoverFrog1

I'm just worried that they'll rush through a court hearing as a final effort to recover the debt.

Rob5342

hoverFrog1 said:

I'm just worried that they'll rush through a court hearing as a final effort to recover the debt.

They might try but they'll have to send you a letter before action first. Keep quiet unless you get one of those and then ask back here for advice.

fatbelly

It does not sound as if your debt is going down that route.

If it was, you would be getting letters from Overdales

sourcrates

Agreed, Overdales are Lowell`s legal arm, and at this point if legal action were on the cards, it would be them writing to you, not Lowell.