Full and final settlement - Lowell

wobblemeister

Hi all

I got Lowell to agree a partial settlement for a defaulted debt. This was their email response to me. Is this watertight enough to not sell the debt on or do I need more from them before sending the money? 

Dear xxxx

Your payment plan

Balance £490.94

Agreed payment amount £200.00 *

Thanks for your recent payment offer. You have agreed to pay £200.00 to clear this account and a payment of £200.00 is expected from you on 31/01/2026.

Updating the credit reference agencies

Where appropriate, every month we send details of the payments we receive to the credit reference agencies. Most customers’ credit files are updated within a month, but this can take longer, depending on when the payment clears. Further details on how your credit file is updated after payment are included below.

We look forward to closing your account. If you have any questions, please call us on 0333 556 5700.

fatbelly

It's a bit loose but Lowell do this a lot. The important thing is that is clears the account

Grumpelstiltskin

OK What was the original debt? Have payments been made? Is it enforceable? Has a CCA been requested if appropriate?

If you can answer these questions it would help.

ManyWays

i think its fine, they have said it will clear the account. Keep that email!

sourcrates

Lowell may be a lot of things, but they only collect on the debts that they buy, and partially settled accounts are not sold on by them.

If they say they will accept X amount in settlement, to close the account, then that`s normally what will happen.

I would never advise you to trust what a debt collector tells you, but experience has shown the above to be true.

Winkflower

Please would it be possible to have the email address you wrote to to get this?

Tried contacting them by phone to do this bybut got nowhere so wpild like to try again in a few months by email.

Congrats on your partial settlement

wwx