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Lowell/Red chasing old loan - statute barred?

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Hi folks, a friend of mine has just received a statement from Lowell Portfolio 1 for a loan taken out with lloyds 10 years ago together with a letter from Red chasing the alleged debt.

 

This is the first she's heard about the loan for approaching 10 years, so is it statute barred? and if so, what should she do about it?

 

I am aware of the statute barred letter but I'm not sure of the legalities of chasing an old debt. There is nothing on her credit file.

 

Any thoughts?

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If there has been no payment on the account for 6 years or any acknowledgment in writing in that time then it is most definitely statute barred. Lowell will just be chancing that your friend doesn't know her rights:rolleyes:

 

Send the statute barred letter (by recorded delivery!) keep a copy then file with Lowells letter under "chancers" in case you need it in the future.


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My advice is based on my opinion and experience only. It is not to be taken as legal advice - if you are unsure you should seek professional help.

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Can I suggest you send the 'prove it' letter first?

 

That will force them to show their hand.

 

The SB letter can follow - it's just that sometimes DCAs have been known to make 'phantom' payments to accounts in a futile attempt to prevent them becoming SB.

 

By sending the prove it letter, you make no admission and they have to provide evidence; sending the SB letter could be taken as a form of acknowledgement. Being SB does not actually make a debt go away - it just means they can't try and collect once they know it's SB.

 

Just trying to prevent any possible futur hassle!


“The industry is rotten to the core, whether it is in-house recovery and collection, or where agents are used, or where the debt has been sold.” Andrew Mackinley MP, House of Commons, 22 April 2009

 

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Just a Low Life phishing ploy!

 

Send the victim a 'statement' that is supposed to freak them out and scare them into contact/payment!

 

Just meaningless drivel really and not worth the paper it is written on!

 

I've had a few and I must admit when I seen that I supposedly had an account with these vermin for a Stat Barred debt I was hopping mad!

 

Do as the guys above suggested!

 

Don't panic or even waste your thoughts on this crap as it is just a tactic!

 

Lowells are the bottom feeders of the DCA's with only possibly Mackenzie Hall below them!

 

When your debt is with either of these 2 then you should be popping the champagne as they specialise in debt that is unrecoverable!

 

The only way these scumbags get paid is by scare mongering and harrassment of their victims!

 

RI

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Just a Low Life phishing ploy!

 

Send the victim a 'statement' that is supposed to freak them out and scare them into contact/payment!

 

Just meaningless drivel really and not worth the paper it is written on!

 

I've had a few and I must admit when I seen that I supposedly had an account with these vermin for a Stat Barred debt I was hopping mad!

 

Do as the guys above suggested!

 

Don't panic or even waste your thoughts on this crap as it is just a tactic!

 

Lowells are the bottom feeders of the DCA's with only possibly Mackenzie Hall below them!

 

When your debt is with either of these 2 then you should be popping the champagne as they specialise in debt that is unrecoverable!

 

The only way these scumbags get paid is by scare mongering and harrassment of their victims!

 

RI

Just had the same scenario a few days ago. Had some good advice fromthe forum ppl. Take there advice. I have. I going to celebrate over a pint tonight.

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