Lowell Finance??

ickledee

Hi there I have been receiving letters from Lowell finance 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???

rog2

ickledee wrote: »

It shows that the account defaulted 18/12/03?? What should I do???

Do you remember when you made the last actual payment? Many months can elapse between the final payment and a 'default' being registered.

ickledee

I dont remember to be honest..it was so long ago..

This is what it says on the credit report

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

rog2

ickledee wrote: »

I dont remember to be honest..it was so long ago..

This is what it says on the credit report

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

Then send Lowell the 'statute barred' letter. It is entirely up to them to prove any payment/written acknowledgement within the limitation period.

ickledee

would I not need to wait until 5 years has lapsed since 18/12/2003 ?

rog2

ickledee wrote: »

would I not need to wait until 5 years has lapsed since 18/12/2003 ?

Only if that is the date of your last payment/written acknowledgement.

ickledee

Right ok - I got you. Thanks very much for the advice - apologies for being slow on the uptake Hmmm I cant remember but given the gap of 2 years between taking out the store card (I was 18) and the actual default I think 5 years would most definitely have passed without contact. I will send the letter! Thanks so much

ickledee

I have today received another letter regarding this 'debt' It is from Asset collection & Investigation Ltd and refers to the case of Lowell Financial Ltd v myself and requests that I pay 60% of the outstanding debt. what do I do with this??

rog2

ickledee wrote: »

I have today received another letter regarding this 'debt' It is from Asset collection & Investigation Ltd and refers to the case of Lowell Financial Ltd v myself and requests that I pay 60% of the outstanding debt. what do I do with this??

I have googled 'Asset Collection & Investigation Ltd.' but can find no details on that company.
Do you have an address for them, ickledeee?
I am, at the moment, tempted to believe that they are part of Lowell - I could be wrong, but I wouldn't be surprised.
The 'wording' of the letter indicates that they are 'prepared to accept a settlement figure, of 60%. This is normally a letter which dcas send out after you have sent them the 'statute barred' letter, and is nothing short of a ploy to divert your attention away from the fact that the 'debt' is, most likely, legally unenforceable. The best advice, at the moment, is to ignore it and send the statute barred letter.
In any case, it is against the OFT Debt Collection Guidelines for a Creditor/dca to use more than one collection agency to pursue the same 'debt' at the same time: http://www.oft.gov.uk/shared_oft/business_leaflets/consumer_credit/oft664.pdf

Cleosmum

You need to CCA request and then you will know what its for. I noticed on another forum that Devon & Cornwall police are wanting to hear from anyone who has had dealings with Lowell Financial, PM me if you want any details.

ickledee

Thanks for the replies

The address on the letter is PO Box 15183, Glasgow, G2 2DN and Fax - 0870 744 8224 and there is a number in red at the bottom - 0870 744 6276

This company are a nightmare!! - Im going to get that letter done just now and posted on Mon. Unsure whether to send the CCA request or statute barred