Lowell F&F 80% offer letter
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Cheekypomme
Posts: 21 Forumite
So, yesterday I received a letter from Lowell offering me 80% discount on a debt I'm currently paying monthly for (£14) still owing just over 5k.
States this can be paid over three installments.
Hmm....what do you reckon I can negotiate this down even more?
I have another two of these accounts with Lowell/Cabot and I've been paying other amounts of £30 & £20 per month for some considerable years.
I am since on disability and was going to call them anyway to negotiate paying lower than the larger two amounts.
Thoughts please?
Much appreciated 🤔
States this can be paid over three installments.
Hmm....what do you reckon I can negotiate this down even more?
I have another two of these accounts with Lowell/Cabot and I've been paying other amounts of £30 & £20 per month for some considerable years.
I am since on disability and was going to call them anyway to negotiate paying lower than the larger two amounts.
Thoughts please?
Much appreciated 🤔
0
Comments
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Sounds like its an historic debt the want to clear from there books, or they know the papertrail may be deficiant in some way.
80% is about the limit Lowell will go to, they usually work in the 15%-45% range, so any higher than that shows they are keen to get rid.
By all means ask for a bigger reduction, can`t hurt can it.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 -
Hi,
Lowell bought one of my debts c.£9k and immediately offered me a 50% discount f & f settlement. If I’d had the money I’d have paid it in a flash as it seemed like a good deal. Unfortunately I couldn’t do that so continued to pay the under my DMP for around 8 years. When my debts were low enough for me to make F & F offers I first send all my creditors incl Lowell a cca request. Basically a request for the original credit agreement. Others provided them but Lowell could not. It rendered the debt unenforceable and they promptly told me they would no longer be seeking payment.
As for your situation..Depending how old this debt is, it may be they no longer have the paperwork and that’s why they’re trying to settle.
If it is an old debt I’d do a cca request before paying another penny.0
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