Cabot and Lowell

Darkcloudleaving

Ah, thank you. (even though it doesn't have my name and address or a date)

sourcrates

Darkcloudleaving said:

Ah, thank you. (even though it doesn't have my name and address or a date)

No requirement for a credit agreement, just a notification to an account number.

Only credit agreements require names and address`s.

As for date, it says will provide until 2009, so......

Darkcloudleaving

Last week I sent Lowell this email.

"Dear Sir/Madam,

Without prejudice

Ref number: xxxxxxxx

I am writing about the money which you are claiming on the above account.

I can confirm that due to my ongoing financial situation, I am unable to pay more than the token £2 a month arrangement that has been in place for a number of years. The pandemic had an additional detrimental impact on my and my family’s finances and we are yet to recover from this.

However, I can raise £250 which a member of my family in the UK has offered to gift to me as a one time offer to allow me to settle the account with you.

I want to offer this as full and final settlement of the account. I am making this offer on the clear understanding that, if you accept it, neither you nor any associate company will take any other action to collect or enforce this debt in any way and that I will be released from any liability.

Based on my circumstances, and because these circumstances are very unlikely to improve in the future, I feel a full and final settlement is the best way to resolve the outstanding debt.

If you accept this offer, please confirm that you will mark my credit reference agency file to show that the above account has been paid and closed.

The amount I have offered can be paid within 3 days of of receiving your written agreement of this offer.

Please provide details of how it can be paid.

I look forward to hearing from you.

Yours faithfully"

and I have just received the following reply.

"Hello,

Thank you for your email.

We've been receiving monthly payments of £2.00 - most recently on 16th July 2025. These payments are being forwarded onto us by HSBC Bank, as it appears you're still paying them directly.

Please cancel your payments with HSBC Bank, as any further payments should be made directly to Lowell.

For us to consider your discount request, please fill in and return the attached Income & Expenditure form so we can get an understanding of your financial situation.

Alternatively, you can visit https://lowell.co.uk/ to log into your online account and complete our Budget Calculator. In this case, please let us know once this is completed so we can assist you further.

Can you please also clarify why you believe your circumstances are unlikely to improve in the future?

As your account isn't being reported to the credit reference agencies, settling your account with a discount wouldn't affect your credit score.

If we're not able to agree to a discount, how would you wish to proceed?

You can get free confidential advice from a number of independent organisations including: blah blah

Contact will continue until you get back in touch with us.

Kind Regards"

What should I do next, I have no intention of filling in their forms. (the amount owed is roughly £1050).

sourcrates

Well you got a standard response from Lowell, it should have been expected that they would always want to see an income/expenditure form before accepting anything, if you want to play the game, you have to play by their rules.

Make the form say what you want it to say, so it backs up your case, yes? then return it to Lowell, otherwise what was the point in making the offer in the first place?

Darkcloudleaving

do they expect to be given copies of payslips, tax returns, rent forms/contracts, etc? or can i fill the boxes with any old numbers?

sourcrates

Darkcloudleaving said:

do they expect to be given copies of payslips, tax returns, rent forms/contracts, etc? or can i fill the boxes with any old numbers?

No, don`t give them anything like that, fill it in with numbers only, and make it appear to show in your favour.

You only have to follow rules if you are in an insolvency solution, which you are not, so you can tell these companies anything.

RAS

No they can't expect pay slips, rent, etc. But they could check what the CT banding is, Google "rent for address", see your LinkedIn profile etc, social media.

So put together an SOA based on your RL expenditure, look seriously at what you going to need to fund over the couple years, and make provision. Because that's what causes havoc in people's debt lives.

If you've got a knackered car or nasty balloon payment, how are you fund the replacement, starting now? If you anticipate mat leave or increased child care costs, start saving now? Do you have a decent emergency fund for the unexpected, like relationship breakdown or redundancy? 

£200 per month for ents won't wash. But an extra £50 on groceries, something on medical and dental, clothing, a basic holiday an activity, insurance etc?