Experience of negotiating with Lowell

VICBEE99

Hello, apologies if this is the wrong part of the forum to post this, I don't post very often.  I've had a debt hanging over me since 2005.  I've got £8000 outstanding which I've been paying a very small amount off monthly to Lowell who've had the natwest debt for around 4 years. They have written  an offer letter for 50% discount. From reading other posts, this seems very reasonable but I'm wondering if I should put an offer forward for more discount or if you think I should grab and run with this one. I really want to get this debt off my records as it's blighted my credit history for too long and want to get a clean record before buying a house in a few years time. Any experience of dealing with Lowell and will they negotiate? They've offered 50% off and payments over a year to settle. Also, should I ring or put in writing. They have a deadline of 7 Dec so don't want to write/email and it take ages for someone to pick it up. Any advice much appreciated. Thank you.

liselle

I had a long-standing debt with Lowell, and like you, paid a small amount monthly.I emailed to offer a Full and Final settlement which they accepted.It was quite a low offer,but all I could afford. I hadn’t really expected that they would accept it. I had the money ready but asked them to state that it would be a Full and Final settlement.Once I received that,by email, I printed it out and immediately transferred the money.They even reminded me to cancel my Direct Debit! Very best wishes for your settlement.