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    • nissan st
    • By nissan st 8th Jan 18, 6:03 PM
    • 39Posts
    • 1Thanks
    nissan st
    lowell
    • #1
    • 8th Jan 18, 6:03 PM
    lowell 8th Jan 18 at 6:03 PM
    Hi
    A few years back during a prolonged house sale and divorce my wife got behind on some accounts.
    Some were long time accounts dating back years, and wouldn't have been enforceable under CCA agreements. But we paid them all and most in full.
    Anyway some had gone to DCAa 's .
    We settled all in one day to the tune of £21000. all except co-op who wouldn't play ball , even accepting full payment .All along they refused any payment on AFFORDABILITY.
    Four accounts were with lowells.
    Two years down the line lowells came up with two more accounts that had been forgotten, I sent the cca letter hoping that would help negotiations.
    To my surprise they replied stating the account was opened many years ago and there was no agreement and they would not pursue.
    I then attempted to settle them as a partial settlement etc.but they refuse to accept anything but full payment .
    Is it worth another try ?
    if you do it its done
Page 1
    • sourcrates
    • By sourcrates 8th Jan 18, 6:29 PM
    • 14,342 Posts
    • 13,536 Thanks
    sourcrates
    • #2
    • 8th Jan 18, 6:29 PM
    • #2
    • 8th Jan 18, 6:29 PM
    To my surprise they replied stating the account was opened many years ago and there was no agreement and they would not pursue.
    Originally posted by nissan st
    Hi,

    Are you fully aware of the above statement ?

    It means they cannot obtain judgement against you in court for the debt as they don't hold the necessary legal paperwork to do so.

    And anything over 6 years old will not show on your credit file.

    If you want to waste your money then by all means pay Lowell in full, they will be laughing all the way to the bank, as they will of paid pennies in the pound for your account, the original creditor long ago having washed their hands of it, or, if you want to take a more common sense approach, walk away from it and thank your lucky stars.

    Companies such as Lowell buy old unenforceable debts in bulk, then rely on people conscience in order to collect full payment, or write them off, they make enough money from the ones who do pay, so the ones that don't are not really a bother to them.
    Last edited by sourcrates; 08-01-2018 at 6:35 PM.
    I'm a Board Guide on the Debt-Free Wannabe, Credit File And Ratings, and
    Bankruptcy And Living With It, boards. "I volunteer to help get your forum questions answered and keep the forum running smoothly".
    Board guides are not moderators and don't read every post. If you spot an abusive or illegal post then please report it to forumteam@moneysavingexpert.com. Any views are mine and not the official line of MoneySavingExpert.com.

    For free debt advice, contact either : Stepchange, National Debtline, or, CAB.
    For Free Legal advice see : http://legalbeagles.info/
    • nissan st
    • By nissan st 8th Jan 18, 6:48 PM
    • 39 Posts
    • 1 Thanks
    nissan st
    • #3
    • 8th Jan 18, 6:48 PM
    • #3
    • 8th Jan 18, 6:48 PM
    Yeah I do get that.
    We just figured if they accepted even 10% for each it may be worth getting the defaults settled.
    Or maybe removed if payed in full ?
    Other than those two on her file there is just a co-op one that we will settle next year.
    if you do it its done
    • sourcrates
    • By sourcrates 8th Jan 18, 7:25 PM
    • 14,342 Posts
    • 13,536 Thanks
    sourcrates
    • #4
    • 8th Jan 18, 7:25 PM
    • #4
    • 8th Jan 18, 7:25 PM
    Yeah I do get that.
    We just figured if they accepted even 10% for each it may be worth getting the defaults settled.
    Or maybe removed if payed in full ?
    Other than those two on her file there is just a co-op one that we will settle next year.
    Originally posted by nissan st
    The thing is, it would possibly of been better for you if they did have the paperwork, Lowell are usually open to generous settlement offers.

    But when your talking about unenforceable debt, they just hold out for full payment, there is no benefit to them to accept any less, they expect some to walk away, they just make a commercial decision and write the debt off usually, those that pay in full still make them a healthy profit for what they paid for the debt.

    Just leaves you in catch 22 though.
    I'm a Board Guide on the Debt-Free Wannabe, Credit File And Ratings, and
    Bankruptcy And Living With It, boards. "I volunteer to help get your forum questions answered and keep the forum running smoothly".
    Board guides are not moderators and don't read every post. If you spot an abusive or illegal post then please report it to forumteam@moneysavingexpert.com. Any views are mine and not the official line of MoneySavingExpert.com.

    For free debt advice, contact either : Stepchange, National Debtline, or, CAB.
    For Free Legal advice see : http://legalbeagles.info/
    • nissan st
    • By nissan st 10th Jan 18, 8:00 AM
    • 39 Posts
    • 1 Thanks
    nissan st
    • #5
    • 10th Jan 18, 8:00 AM
    • #5
    • 10th Jan 18, 8:00 AM
    I see
    Thanks for the help
    It annoys me because we think looking back that four of five accounts we payed them , in full were un enforceable . We payed in full on those .
    Defaults notices were not issued on these either .
    We may want a mortgage next year or a buy to let one , either as we are mortgage free. and if I!!!8217;m correct these defaults would need to be settled for at least a year .
    Would the non default notice be route to get them to play ball ?
    if you do it its done
    • zx81
    • By zx81 10th Jan 18, 8:24 AM
    • 17,280 Posts
    • 18,388 Thanks
    zx81
    • #6
    • 10th Jan 18, 8:24 AM
    • #6
    • 10th Jan 18, 8:24 AM
    No. They could just send you a copy of the notice if that's what you wanted.
    • nissan st
    • By nissan st 10th Jan 18, 8:51 AM
    • 39 Posts
    • 1 Thanks
    nissan st
    • #7
    • 10th Jan 18, 8:51 AM
    • #7
    • 10th Jan 18, 8:51 AM
    No I didnít particularly want it
    I is just we know that the original default notices werenít issued.
    Iím just clutching at straws for leverage
    Thanks for the advise I suppose Iíll be paying them in full at some point , or not getting a mortgage
    Cheers
    if you do it its done
    • cjmillsnun
    • By cjmillsnun 10th Jan 18, 7:47 PM
    • 602 Posts
    • 734 Thanks
    cjmillsnun
    • #8
    • 10th Jan 18, 7:47 PM
    • #8
    • 10th Jan 18, 7:47 PM
    Before you go make a payment, CHECK YOUR FILES.

    You're saying the trouble was from a few years back.

    How many? If a default was registered more than 6 years ago. It is not on your file. If it's not on you file, then you don't need to worry.
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