Lowell default

edited 30 November -1 at 1:00AM in Credit File & Ratings
5 replies 525 views
A3hyA3hy Forumite
3 Posts
edited 30 November -1 at 1:00AM in Credit File & Ratings
Hi all, need some advice please.

In 2006/2007 I was not working and basically trashed my credit file. All ccj and defaults have dropped off now and I am now financially sound.

I had a coop current account which was overdrawn by £72.00 in April 2008. I never did anything about it and they closed it in December 2008. Early in 2010 when I was working again I telephoned the coop as I needed a bank account again and they said it was closed in 2008, she said they have written the £72 off and said she would have to check with a manager if I could open another bank account with them, they got back to me and agreed to give me a second chance and I bank with them to this day.

Approx 4 months ago I start getting letters from Lowell who say they bought the debt. I just totally ignored it as per things I've read on the web about them. They have now issued a default on me and the date is from when the account was closed in December 2008, so I now have another year left before this gets dropped.

I think I defaulted early in 2008 not in December when they said. Also the original coop bank account status or default was never registered with the coop. I've rang the coop and they managed to find the old account and when I asked what date did I officially default she said they never defaulted it just closed it and apparently sold it years down the line.

Lowell just say money money money when you phone and then gave me the usual spele "pay it to me now and it will be paid and you will ave no problems getting credit them" YEAH WHATEVER.

I was thinking of sending one of those requests for proof or something, can anyone advise please.

Replies

  • TixyTixy Forumite
    31.5K Posts
    ✭✭✭✭✭
    Hi

    The debt being sold on is evidence itself that the account did default (according to the ICO guidelines). Usually a creditor registers a default, but if they don't then the default date should be the date the debt was sold.

    You could certainly send a prove it letter to lowell to get them to prove it is your debt and prove they have a right to collect it.

    If you pay then it would show as a satisfied default on your credit file, rather than an outstanding one. Which should make it easier to get certain credit lines.
    A smile enriches those who receive without making poorer those who give
    or "It costs nowt to be nice"
  • Current account default dates are not straight forward.

    I think the default when the account was closed is probably ok.

    How much are Lowell asking for?
    :beer:
  • A3hyA3hy Forumite
    3 Posts
    Thanks for your replies. Lowell are only asking for the £72 and i can easy afford it. I think its just annoying that I'm finally free from all adverse and then five years later lowell register this when it has never been registered before with coop. Also when i opened the new coop account i was very honest with them and told them i would pay the £72 but they said its been written off now so i cant pay it and forget it..... if only i knew it would be sold five years later.

    Another annoying factor is lowell have pretty much said they only registered it to "get my attention" as they obtained a copy of my file and it was clean. Its not the end of the world its just a year longer with a default and i am fortunate enough to be able to manage without credit at the moment.

    One more thing, i dont trust these guys, whats the best way to pay this? over the phone, cheque, bacs?
  • A3hyA3hy Forumite
    3 Posts
    oh sorry forgot to mention one more thing. lowell said they will accept £49.00 as full payment, but i dont want any hasstle about partial settlments to yet further mess my file up. Shall i just make them accept the full amount and tell them to stick their good will gesture where the sun dont shine.
  • Don't give them your card details. I would use a cheque.

    I would write to them and summarise the getting your attention bit and say that you will give them the £72 as long as they agree to remove the default. Might work, they are greedy and you have nothing to lose. Make sure you get it in writing.

    Worst they could do would be to take you to court, in which case you would just pay it ASAP and defend on the basis that the debt has been paid. So your credit file is about the worse it can be. Unlikely mind.

    Even with that default, you will get some cards but best wait until it's gone.

    This firm make people's life hell, so don't feel bad about giving them a hard time to get the money, they probably paid coop about a tenner to buy that debt, maybe less.
    :beer:
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