Lowell Financial - Old Capital One Debt - Please Help!!

[kirsty.hiya]

Hi All,

 

About 2 weeks ago I received a letter from a debt collector known as Lowell Financial. They are writing to be about an old debt I have with Capital One for an outstanding balance of around £300.

 

I don't know exactly how old this debt is to be honest. Its definately pre-2007 and I most certainly have had no contact with them for a good few years. They have a very old address on file for me and I believe the last time I resided at the address they have stipulated was around 2003/4. This is possibly the last time this debt was acknowledged.

 

The first letter they sent to me was demanding a payment within x amount of time. I ignored it. A week later I receive another letter stating if I do not pay or contact them to arrange payment they be writing to me to advise when an agent will be coming to my door. I still ignored them thinking that I will await this letter about an agent turning up before I do anything. Today I have received a third letter offering me 3 options. 1) pay the full amount due at a reduced amount of £230 2) make 2 payments of £90 something or 3) arrange payments of £50 per month until the debt is cleared. Still no mention of this agent coming to my house though.

 

What do you think I should do? Continue to ignore them?

 

All advise greatly appreciated!

 

Thank you!!!

[kirsty.hiya]

I forgot to mention that the latest letter from Lowell states that they are the legal owners of the debt so Capital One are no longer involved.

[Pinky69]

I suspect CrapOne has sold it and Lowell have bought it because it is almost Statute Barred(if you haven't paid anything or acknowledged the debt for 6 years, they cannot come after you for it if you tell them to go away). In Scotland the debt is wiped out altogether. I personally would ignore them.

[Huff&Puff]

I agree. Ignore them.