Lowell debt close to being statute barred HELP!

Fluffyclouds87

Thank you for all replying. 
I'm alot calmer about the whole thing compared to when the first letter arrived. 
I guess I just needed some reassurance which you've all kindly given me. 

I'm surprised they are able to run a credit check without permission- I'm not sure what information they can gain from doing so or how that's helpful to them 🤔 
Thanks again for all the advice 

ManyWays

They have bought a debt and they now have the rights of the original lender which would include being able to check your credit record.

In theory, they could look at your credit record and see you are borrowing more and are repaying other defaulted debts. In practice no-one sits in a room and studies FluffyCloud's credit records and thinks hard about them, this is all automated decision processing 

Fluffyclouds87

Just a little update to say I've received my first offer.... they have offered a 50% reduction if I pay it off within 12 months- although I'm trying my best to save im no where near that amount. So ive binned that letter 😉

fatbelly

Offers will still be there when you are ready

Fluffyclouds87

Hello, just another update. I recieved a following offer of 70% reduction which i ignored and had another bigger reduction letter come though yesterday with i think was 90%. The default account has now dropped off my credit file but it did say account defaulted on the 6th June- even though I hadn't actually made a payment since the previous December. It's literally 3 weeks until the 6th june so once I hit that point do I still continue to ignore any letters etc or do I then send them something saying the debt is statue barred? Thanks for all your help with this- I never thought I'd make it this far  

Rob5342

I wouldn't be in any rush to talk them it's statute barried, just in case there is a dispute over dates or something. I'd keep quiet for another few months at least and then tell them if they start to get to annoying. Look out for an lba though and respond to that if you get one. 

Fluffyclouds87

Thanks for your reply. 
I get the odd tx and letter but the phone calls seemed to of stopped (for now) 
Sorry but whats an lba? 

fatbelly

Letter Before Action. Formal notice that court action will follow Standard form with 30-day reply period.

Could still be a bluff but best to respond at that point, and we can advise you if it happens

tigergambit

Fluffyclouds87 said:

Hello, just another update. I recieved a following offer of 70% reduction which i ignored and had another bigger reduction letter come though yesterday with i think was 90%. The default account has now dropped off my credit file but it did say account defaulted on the 6th June- even though I hadn't actually made a payment since the previous December. It's literally 3 weeks until the 6th june so once I hit that point do I still continue to ignore any letters etc or do I then send them something saying the debt is statue barred? Thanks for all your help with this- I never thought I'd make it this far  

Well done on keeping your nerve, Fluffyclouds. Given that it's within the 30 days now things look good. Just keep quiet for a few more months as Rob advises.

I'm really pleased for you.

TG

Fluffyclouds87

Thanks you all! 
Thanks for explaining- I will be sure to come back here and ask what to do if a Lba arrives- you have all been so helpful so far. 

Being honest i never thought id get this far when I learnt that the 6 years was from default and not last payment I freaked out. But you guys were fab at telling me to stick it out- I think id of broken and made contact otherwise.