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Lowell offer to "buy back" my account


Rainmaker
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Hi guys,

 

I did a search for this, but didn't see it anywhere in the results. Long story short, the summary of facts are:

 

It has been alleged by various DCs over the last 3-4 years that I owe two sums of money, purported to originate with a defaulted bank account and bank credit card back when I was a student. Following CCA requests incorporating a notice of formal dispute (plus a cease and desist/harassment warning), the letters stopped abruptly.

 

I contacted the bank in question at the time (a couple of years ago) and they had no record of my accounts ever being in arrears, and confirmed as far as they're concerned my account is closed with no default. My credit report has defaults (one for each alleged debt), which were placed by a DC and are due to expire in December 2009.

 

My credit is otherwise exemplary and I've never missed a payment to my regular creditors (mobile contract, VISA etc) no matter how hard it was.

 

Suddenly, out of the blue, I've had a letter from Lowell asking if I want to bid to "buy back" my account from them. The purported idea is that the "customer" sends a "bid" and provided it's acceptable, I own my own debt basically. It's a fancy way of enticing people to make full and final settlement. The letter continues to state that if one considers this too expensive an option, it's always possible to set up an ongoing direct debit for £40 a month instead! If I fail to choose one of the two options, I'll be taken to court blah blah yada yada... :eek::roll:

 

Needless to say I know they're rattling sabres before the debt is statute barred in four months. I'm planning to simply ignore it, and refer them to my earlier correspondence should they attempt to pursue this further.

 

My question is, has anyone else seen this apparently new tactic?

Cheers.

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There's been a couple of posts lately with this wonderful offer, all of which have been or are near to being SB. :rolleyes:

 

It's Lowlife's last dying breath before they drown in the sea of unenforceable debt they keep buying. :D

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Lowell certainly are cheeky for suggesting you pay back a debt which the original creditor says you do not owe. But why let them get away with it. For everyone who gets these letters and recognises it for the [problem] it is there are at least three who will be scared by its contents to pay up. Send copies of the letter plus a short covering note outlining the background to the OFT, FOS, your MP, Trading Standards - basically everyone you can think of and make a fuss.

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Buy back what, exactly? An account the 'customer' has no knowledge of him/her ever possessing? Does this company actually have any reason to exist? Actually, don't bother answering any of those...

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I want one and going to bid one small bag of salted kp.

straight exchange for the peanuts they brought it for.

 

SAM

SAM:pLOWELL DETESTER.

 

SO PROUD OF MY AVATAR,THAT TOOK ME WEEKS TO WORK OUT HOW TO GET ONE.:lol:

 

PLZ CLICK MY SCALES IF YOU LIKE WHAT I SAY.

OR IF I HAVE HELPED IN ANY WAY.:smile:

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If you buy the debt rather than F&F, do you get to remove your own default?

 

Actuall, Lowell should do that as they assign the debt to you, to allow you to register your own default, if you want to!

 

If they don't do all that, would that be deceptive advertising? the advertising bodies have teeth!

Edited by 2Grumpy
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If you buy the debt rather than F&F, do you get to remove your own default?

Then there's the added expense of registering yourself with the FSA & the ICO.

Anthrax alert at debt collectors caused by box of doughnuts

 

Make sure you do not post anything which identifies you. Although we can remove certain things from the site unless it's done in a timely manner everything you post will appear in Google cache & we do not have any control over that.

 

Vir prudens non contra ventum mingit

 

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17 Port & Maritime Regiment RCT

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Thought i'd seen a similar thread here the other day....

 

http://www.consumeractiongroup.co.uk/forum/debt-collection-industry/210451-lowell-go-all-ebay.html?highlight=ebay+yor+debt

 

Absolutely ridiculous. Even on a basic level who on earth would like to buy back a debt!!??:rolleyes:

Saying that, these people will try anything-especially if they realise theyve just bought debts that are nearly SB'd!!:lol:

If you believe that this post has helped in any way please click on the star to the left

 

DDWales Vs Barclaycard-*Won* http://www.consumeractiongroup.co.uk/forum/barclaycard/174860-ddwales-barclaycard.html

DDWales Vs Natwest-*Won*

http://www.consumeractiongroup.co.uk/forum/natwest-successes/210090-ddwales-natwest.html

 

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would it be the case of, even if for a joke you sent them an offer for 1p, would that be an admission of the debt and so start the SB clock again? maybe they expect people to send sill responses therefore giving them another 6 years?

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yep cause you have to put your bid in writting:mad:

 

bloody con anyway as you are the winner IF your bid meets their reserve

 

why not just offer a f&f for this amount,maybe they think that we will get caught up in the excitement of getting a bargain.:rolleyes:

 

SAM

SAM:pLOWELL DETESTER.

 

SO PROUD OF MY AVATAR,THAT TOOK ME WEEKS TO WORK OUT HOW TO GET ONE.:lol:

 

PLZ CLICK MY SCALES IF YOU LIKE WHAT I SAY.

OR IF I HAVE HELPED IN ANY WAY.:smile:

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  • 3 weeks later...

I also got one of these letters today ,and don't know what to do.

my problem is they bought my dept from monument,who sold it to them and they've been on my case ever since.I was making my reg payments to monument,unfortunatly i was made redundent and could not make regular payments hence my present situation they are hounding me for the sum of £4000.I'm not sure what to do? HELP!!

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I also got one of these letters today ,and don't know what to do.

my problem is they bought my dept from monument,who sold it to them and they've been on my case ever since.I was making my reg payments to monument,unfortunatly i was made redundent and could not make regular payments hence my present situation they are hounding me for the sum of £4000.I'm not sure what to do? HELP!!

 

If Lowells are involved there is a very good chance that they won't have an enforceable agreement so you should send them a CCA request; http://www.consumerforums.com/resources/templates-library/86-debt-collectors/581-cca-request-letter

Anthrax alert at debt collectors caused by box of doughnuts

 

Make sure you do not post anything which identifies you. Although we can remove certain things from the site unless it's done in a timely manner everything you post will appear in Google cache & we do not have any control over that.

 

Vir prudens non contra ventum mingit

 

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17 Port & Maritime Regiment RCT

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