Can anyone offer advice Lowell Financial???

rog2

ickledee wrote: »

Me too!! I have received letters from them also and had never heard of them. They were demanding £50. I have no idea what it was for but assumed it was for a store card I had in 2001 as this was the only form of credit I have ever had, although to my knowledge my store card had been paid off..(so long ago now) anyway i ignored the letters and checked my credit file today to see that they have put a default on my account for the £50!! It shows that the account defaulted 18/12/03?? What should I do???

In your case, ickledee, the 'alleged debt' was most probably 'Statute Barred'. This means that, providing you did not make any payments towards, nor acknowledge in writing, the debt for a period of six years, then, under the terms of the Limitation Act, once you tell the original creditor, or dca, that you will not be paying as the 'debt' is statute barred (the only reason you need give) then the debt can no longer be pursued through the Courts:

http://www.nationaldebtline.co.uk/england_wales/factsheet.php?page=25_liability_for_debts_and_the_limitation_act

Furthermore, Lowell would have no right to enter a 'default' on your crf and would be legally obliged to remove it.

ickledee

Oh Brilliant!!! I have been gutted about it all day as will be applying for a mortgage - Im going to check my credit file again and see exactly what it says. cant believe it, over £50!!..

ickledee

LOWELL PORTFOLIO I LTDAccount type:Credit Card / Store CardStarted:24/11/2001Default Balance:£50Current Balance:£50Defaulted On:18/12/2003File updated for period to:04/02/2007Status History:
(brackets indicate most recent status)IMG]https://www.creditexpert.co.uk/images/8.gif[/IMG