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Lowell Financial


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Hi Guys & Gals,

 

New to the forum so let me first say hi,

 

Secondly to drag up the old 'Lowell Financial' Chestnut again.

 

Around 8 - 10 months ago i received a letter from Lowell stating they had bought a debt from HSBC and to make contact to settle the debt (i did have a debt circa 1999/2000 ish for around £1800 - student days)

I ignored the letter like you do, and a follow up letter about a week later. I then started getting calls from them asking who? what? and where? (I run my business from home so its not hard to get a number) after about 3 weeks and another letter threatening court action I decided to correct the error of my youth and contact to arrange a settlement. (me and my girlfriend were buying a house and shes a debt stress head - why do we listen to them??) I made arrangements to pay £50 a month DD. After 2 or 3 months I had a letter saying the payments were increasing to £57 a month and I needed to do nothing. I rang and complained and the payments stayed the same. Then on Jan 3rd they took a payment of £63.75 (along with all my other bills that come out the 1st) this put me just a few quid over my overdraft limit so my bank charged me £38 and rejected the payment. Then a week or so ago, Ive been getting 2 or 3 calls and texts a day to tell me to get in touch (I didn't) then i answered a withheld and spoke to Lowell, they were demanding the whole amount in settlement as I had broke the agreement. Then on the 20th they re-presented the missed payment and took £63.75 and no doubt come next week they'll take their pound of flesh yet again. I can JUST about manage £50 a month, but now they are taking the ****. I became aware of this site and others a few months ago and realized there were hundreds of people in a similar position. I have never acknowledged the debt in writing or verbally but i know people say making a payment IS acknowledging it. There's never been a week yet when I haven't had an 0113 call. I'd like to know what you all think the best course of action is?

 

Sorry its a long post but I think it's important to explain the facts as they are. I don't mind the harassing, bullying tactics they employ i just tell them to **** off and do their worst. I'm sure there are others that will loose sleep at night worrying and If anyone is in a similar position to me and started to pay, then I hope my story and hopefully the forth coming advice will help others.

 

Kind regards to you all

 

Baggyboy.

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The most important thing to do is immefiatly cancel your direct debit to these clowns. As you have discovered to your cost they can take whatever they want from your account. If you really want to pay them set up a standing order. You then control the amount.

 

HOWEVER if a period of 6 years had passed without you making any payment then the debt would have been Statute Barred so you would not legally have to pay these people anything.

 

Have you sent a CCA request to Lowells to see if in fact they have a legal right to be chasing you for this alleged debt

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Hi ODC,

 

Nagging from girlfriend at the time to deal with it, obviously if i knew then what i know now i would have done things the right way, i havnt sent a CCA yet. Im 100% sure the debt was more than 6 years old. Does it really matter that I have been paying? Will be cancelling the DD now!

 

Cheers

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Hi ODC,

 

Nagging from girlfriend at the time to deal with it, obviously if i knew then what i know now i would have done things the right way, i havnt sent a CCA yet. Im 100% sure the debt was more than 6 years old. Does it really matter that I have been paying? Will be cancelling the DD now!

 

Cheers

If a period of 6 years passed without you making any written acknowledgement of the debt or any payment then the debt would be Statute Barred and totally unenforcable. As long as the 6yrs had passed then you making the recent payments would not UN-Statute Bar the debt. Once a debt is Statute Barred then that is it. The burden of proof that the debt was not Statute Barred rests with Lowells not on you to prove it is. They will not like you telling them it is Stat Barred and will try all sorts of weasley words to make you keep paying.

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You can either hit them with the Statute Barred Letter M or the CCA letter N. The CCA costs £1. Put at the top of it in bold letters I DO NOT ACKNOWLEDGE ANY DEBT TO YOU OR ANY COMPANY YOU PURPORT TO REPRESENT. Both letter templates can be found here http://www.consumeractiongroup.co.uk/forum/general-debt/20758-creditors-dcas-letter-templates.html

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Nice one,

 

Will do it first thing monday morning. Just for clarification, is there a way of finding out when the debt lapsed? Like i say im sure its over 6 years, but i would like to have my facts straight.

 

Baggy

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Super stuff, letter on way first thing Monday morn, ill keep you posted, just one other thing, lets suppose the debt was un enforceable and statue barred, what happens to the monies already paid, would i have any entitlement to getting it back?

 

Baggy

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Super stuff, letter on way first thing Monday morn, ill keep you posted, just one other thing, lets suppose the debt was un enforceable and statue barred, what happens to the monies already paid, would i have any entitlement to getting it back?

 

Baggy

Sorry but NO unless you could prove that Lowells acted in a criminal manner to obtain the payment

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Ha ha never mind, might have been worth trying, like they have!

 

Cheers for all your help!

No worries thats what we are here for. Lowell are top of my Christmas Card list. I have my own issues with them but thats another story

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  • 4 weeks later...

Hi all,

 

Just a follow up for info,

 

I sent a CCA to Lowell at the start of Feb, after checking with Royal Mail, it was signed for on the 5/2/08 so the 12 days have passed and as of this morning the 20/02/08 I have still received nothing. Only 2 letters asking for last months outstanding amount (as i said earlier) i canceled the DD right away. I still get 2 or 3 texts demanding i call them immediately, and i got a phone call today which i refused to answer. Any further steps for me to take? all suggestions welcome,

 

Baggy

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Hi all,

 

Just a follow up for info,

 

I sent a CCA to Lowell at the start of Feb, after checking with Royal Mail, it was signed for on the 5/2/08 so the 12 days have passed and as of this morning the 20/02/08 I have still received nothing. Only 2 letters asking for last months outstanding amount (as i said earlier) i canceled the DD right away. I still get 2 or 3 texts demanding i call them immediately, and i got a phone call today which i refused to answer. Any further steps for me to take? all suggestions welcome,

 

Baggy

If they are continuing to demand mony from you after failing to comply with your LEGAL request for a CCA then you must report them to TS

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Its 12 working days which is tommorrow. A further 30 calander days (22nd March) then they are in default.

 

Nick

 

Erm, if the 12 working days have expired they are in default now after a further 30 calendar days they commit a criminal offence.they are now precluded from enforcing the agreement while the default continues

 

 

i hope this clears matters up

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  • 4 weeks later...

Hello Guys,

 

Update : As of this morning 22/03/08 still no cca from Lowell, but still plenty of calls and texts and letters demanding payment. As its now 12 days plus 30 since they received my cca request, where do i stand? and what course of action is next? any recommendations people?

 

Baggy

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They are breaking the law by demanding payment without supplying your CCA. Report them to TS (with a copy to Leeds TS as well) and the OFT. A complaint to your MP would do no harm either. Write to Lowells and demand a copy of their complaints procedure. Make a formal complaint to them and when they fail to provide you with a satisfactory response report them to the FOS who will charge them £400 to investigate yor complaint.

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Cheers ODC,

 

Been away for the bank hol, im about to get letter writing, after receiving a letter this morning from Hampton's threatening further action unless i cough up. Without sounding a dope, what needs to be sent to TS & OFT and what needs to be sent to Lowell? We talking comprehensive or summary? to either or both?

 

Thanks for all your help again,

 

Baggy

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Throw this at Lowells

 

Account In Dispute

Letter Before Action

 

Ref:

 

Dear Sir/Madam

 

Thank you for your letter of xx/xx/xx, the contents of which have been noted.

 

You have failed to respond to my legal request to supply me a true copy of the original Consumer Credit Agreement for the above account.

 

On the **DATE** I wrote to you requesting a copy of the credit agreement and other information under the Consumer Credit Act 1974 (Sections 77-79).

 

On **DATE** a member of your staff signed for delivery of my written request and I have an electronic proof of delivery showing their signature and the date.

 

To date you have failed to comply with these requests in any way, whether by confirmation of receipt of the request or by supplying the requested documents.

 

These documents I requested should be readily available as proof of your legal right to collect this account under the Consumer Credit Act 1974.

 

In my letter of the **DATE** I made a formal request for a copy of the signed, executed credit agreement for the above account under section 77(1) of the Consumer Credit Act 1974. In addition a full statement of this account should have been sent to me detailing all debits and credits to the account.

 

Furthermore

 

 

You are aware that the Consumer Credit Act allows 12 working days for a request for a true copy of a credit agreement to be carried out before your client enters into a default situation.

 

If that request is not satisfied after a further 30 calendar days your client commits a summary criminal offence.

 

These limits have expired.

 

As you are no doubt aware section 77(6) states:

 

If the creditor fails to comply with Subsection (1)

 

(a) He is not entitled , while the default continues, to enforce the agreement.

 

And

 

(b) If the default continues for one month he commits an offence.

 

Therefore this account has become unenforceable at law.

 

As you have Failed to comply with a lawful request for a true, signed copy of the said agreement and other relevant documents mentioned in it, Failed to send a full statement of the account and Failed to provide any of the documentation requested.

 

Consequentially any legal action you pursue will be averred as both UNLAWFUL and VEXATIOUS.

 

Furthermore I shall counterclaim that any such action constitutes unlawful harassment.

 

Please note you may also consider this letter as a statutory notice under section 10 of the Data Protection Act to cease processing any data in relation to this account with immediate effect.

 

This means you must remove all information regarding this account from your own internal records and from my records with any credit reference agencies.

 

Should you refuse to comply, you must within 21 days provide me with a detailed breakdown of your reasoning behind continuing to process my data.

 

It is not sufficient to simply state that you have a ‘legal right’; You must outline your reasoning in this matter and state upon which legislation this reasoning depends.

 

Should you not respond within 14 days I expect that this means you agree to remove all such data.

 

Furthermore you should be aware that a creditor is not permitted to take ANY

Action against an account whilst it remains in dispute.

 

The lack of a credit agreement is a very clear dispute and as such the following applies.

 

* You may not demand any payment on the account, nor am I obliged to offer any payment to you.

* You may not add further interest or any charges to the account.

* You may not pass the account to a third party.

* You may not register any information in respect of the account with any credit reference agency.

* You may not issue a default notice related to the account.

 

 

I reserve the right to report your actions to any such regulatory authorities as I see fit.

You have 14 days from receiving this letter to contact me with your intentions to resolve this matter which is now a formal complaint.

 

I would appreciate your due diligence in this matter.

 

I look forward to hearing from you in writing.

 

Yours faithfully

BLAH

Be VERY careful whose advice you listen too

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