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Lowell settle agreement advice
gerrard88
Posts: 149 Forumite
Hi all
lowell sent me a lettee to say they would give me 70% discount. So would need to just pay £1213 over 6 months
anyone done this? Would they do it over 12 month if i called them? Do I wait bit longer. Ignore it?
lowell sent me a lettee to say they would give me 70% discount. So would need to just pay £1213 over 6 months
anyone done this? Would they do it over 12 month if i called them? Do I wait bit longer. Ignore it?
0
Comments
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OK What is it? credit card, loan?
Have they provided a valid CCA?
How old is the debt?
The answer to these questions will help us.If you go down to the woods today you better not go alone.0 -
Credit card with Virgin
Dont think they have provided a CCA
about a year or so old
with Lowell0 -
Keep in mind, companies such as Lowell pay around 12p in the £ for the accounts they buy, so even a 70% discount, paid over time, earns them a profit.
They, like everyone else, will be feeling the pinch of the cost of living crisis, they have to be creative in keeping their income streams running.
Don`t ask you don`t get.I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0 -
Yes it's possible. Lowell have been known to be flexible.
Paying 30% of a debt over 6 months is a generous opening offer.
So generous, in fact, that it makes me wonder whether the debt is statute barred, or about to be, or they know they can't access the paperwork on this one.0 -
So ask for a CCA and don't pay them anything until you get it.fatbelly said:Yes it's possible. Lowell have been known to be flexible.
Paying 30% of a debt over 6 months is a generous opening offer.
So generous, in fact, that it makes me wonder whether the debt is statute barred, or about to be, or they know they can't access the paperwork on this one.If you go down to the woods today you better not go alone.0 -
How do i ask for a CCA?0
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Information here.
Credit agreements | Getting information | National Debtline Send by snail mail, include a blank £1 postal order.
If you go down to the woods today you better not go alone.0 -
Thanks
can I not email?0 -
I agree with the above, ask for the CCA first and if they can provide that then contact them about the offer. That's an opening offer and they'll probably accept something different, so if they can provide the CCA see what they can accept. They'll be open to other offers later so don't agree something if it would stretch your finances too far.0
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No you can't send the postal order by E Mail.gerrard88 said:Thanks
can I not email?If you go down to the woods today you better not go alone.0
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