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Lowell Overdraft Debt

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Can I have some advice please. My husband has an old overdraft debt that come off his credit file this year and he has not acknowledged since the summer of 2006. We have previoulsy been offered by Hamptons, the previous DCA, a discount of 50% but were unable to pay it at theat time.


I got scared into paying £10.00 per month from June 2009 when they threatened a charging order but have paid this out my own personal bank account. Having been reading this site, I know a bit more now and as my husband has just been made redundant am trying to resolve this matter.


I understand that overdrafts may be exempt from CCA regulations, does that mean I can not CCA or can I do this under Part V of the act? The annual statement we received states that this debt is for a loan dated 1989, so it has got me thinking we should challenge this debt and we have also received no notice of assignment. It appears from other posts I have happily been paying Lowell for a debt I am not sure about but the debtor, my husband, has not acknowledged this debt since 2006, so where do we stand?


Please any help would be much appreciated.

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Hi there

For them to get a charging order they have FIRST to get a CCJ which you then don't pay --then they have to go to court again TWICE - once for an interim and then for the final CO.


At this stage any interest STOPS STONE DEAD and you can just sit there FOR YEARS until you decide to move / sell your house -- and they are LOWEST on the creditor pile when the house is finally sold.


It's so rare that a house is FORCEABLY SOLD because of a charging order especially for things like Credit Card debt unless the amounts are VERY large like 35,000 GBP or more and even then its rare.


DCA's shoot themselves in the foot with these since you can sit there for YEARS on a diminishing debt (inflation etc) with NO interest -- so you could actually let them go through this B/S and then after some months / years offer them a small Full and Final settlement which they might accept.


If Interest IS added to the CO after judgement day then you can challenge it.


Otherwise you could let them go for a CCJ and explain to the court you have zero money over --the Court will probably make an order for you to pay a nominal 1 GBP a month -- maybe nothing if you are on benefits.


DO NOT explain financial circumstances to a DCA EVER nor make direct debits.


Only a Court has the right to ask for an Income and Expenditure (I&E) statement.


These DCA's are just trying to scare you into more money than you need pay up.


Note if a CO IS obtained they CAN add the Court fees but NO MORE INTEREST after the date of the order.


Note Bank Overdrafts are covered by the Various CCA legislation so that the stopping of interest on a CO still applies -- a Bank overdraft is Consumer credit.


You could probably contest if there are excessive fees or PPI on it but you won't get this debt quashed by demanding a CCA as this doesn't apply to Bank overdrafts.


You can get excact amounts charged etc by demanding a SAR from the Bank (note not the DCA but the Original Creditor). You need to send a 10GBP postal order.


As loads of people testify going to COURT is quite OK and you will usually get a FAR FAR better deal from a Court than any ****** DCA.


It's not like being in the Dock at The Old Bailey. Hearings are usually quite informal and judges are usually very sympathetic if you have a decent case to present.




Edited by jimbo45
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Just a small point here, you state that the overdraft will come off his credit file this year, that is normally the case when no acknowledgement has been made for 6 (5 in Scotland) years, however, as you say you have recently made payments, so you will, unfortunately, have re-set the Statute Barred clock for another 6 (5) years.


Great advice given above though.

Every journey begins with a single step :):)


Please note: I have no qualifications in this area - my advice is learned from the wonderful members of this Forum. Thanks to you all for your help.


If you have found my post helpful please leave a short message by clicking the star to the left of my profile - Thank You


The only person entitled to your Personal Finance details is a Judge not a DCA


Move all banking activity to another banking group if you have a dispute - your funds can be used to offset debts within the same group.

Be careful with Banking details (card/account numbers) as these can be used to take unauthorised payments.

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Sorry typo there, meant to state that this debt has already come off the credit file, so it got me wondering why no action was taken at the time for this to be repaid. It's just under £3,000 but making token payments of £10.00 per month and at the moment this payment can't be increased, it will take forever to clear.

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