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worriedwife20

Lowell Ltd are stopping us getting a mortgage

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Hi all,I'll just a brief story into why I need your help.

 

My husband and I have just applied for a mortgage and were really happy when they agreed they could lend us the money. However a day before the valuation was due to be completed the bank called to say that a query has come back from the underwrites saying my husband owes £8000.

 

We had got a copy of our credit reports the weeek before and everything was fine (my husband scoring 948 and I scoring 998) the bank said we need to get a check on 2 addresses that he previously lived at as the werent linked to the report and they thought that was were the problems were. They were right, as once the report had updated it said that my husband owe £4901 and another £2906.90 to Lowell Ltd.

 

It also showed that my husband had a Egg Loan (but really it was a credit card) which is satisfied now even though he did default on it. When he kept defaulting on it, his parents took out a loan to pay it off and he just had to pay his parents back, he finished paying it back last year.

 

We have had a letter from Lowell saying that they bought the debt from Egg and he know owes them money which is really confusing as my husband thought he had paid it all back. Could it be interest on the money that he owed?

 

My husband doesn't want to contact them as in January 2013 it would have been 6 years since he apparently defaulte so he is hoping it will come off then. He is also refusing to acknowlege them as he doesn't owe any money and he is worried that if he contacts them, he will have to pay them money. Could someone please help ASAP.

 

We have been saving hard for the past 2 years to buy a house and we are so close to finalising it all but now i am worried we are going to lose it because of this default on his account which is a false accusation. We don't know what to do. :-(

Edited by citizenB

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Hi and welcome to CAG, I have popped some spacing into your post so that people will be able to read it :) Also, I have moved you to the Debt forums for the moment.. just until we can establish where you should be for best advice.


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PLEASE DO NOT ASK ME TO GIVE ADVICE BY PM - IF YOU PROVIDE A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER ADVICE THERE:D

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Does he have a final statement that shows a £nil balance from when your husband's parents repaid the debt ?

 

Who was the payment made to, was it EGG or Barclays who took over those accounts ?


Have we helped you ...?         Please Donate button to the Consumer Action Group

 

Uploading documents to CAG ** Instructions **

 

Looking for a draft letter? Use the CAG Library

Dealing with Customer Service Departments? - read the CAG Guide first

 

1: Making a PPI claim ? - Q & A's and spreadsheets for single premium policy -

HERE

2: Take back control of your finances -

Debt Diaries

3: Feel Bullied by Creditors or Debt Collectors?

Read Here

4: Staying Calm About Debt

Read Here

5: Forum rules - These have been updated -

Please Read

 

 

BCOBS

 

2: Does your Bank play fair - You can force your Bank to play Fair with you

3: Banking Conduct of Business Regulations - The Hidden Rules

4: BCOBS and Unfair Treatment - Common Examples of Banks Behaving Badly

5: Fair Treatment for Credit Card Holders and Borrowers - COBS

 

 

 

Advice & opinions given by citizenb are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

 

PLEASE DO NOT ASK ME TO GIVE ADVICE BY PM - IF YOU PROVIDE A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER ADVICE THERE:D

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Hi Welcome to CAG, contacting Lowell will not reststart the 6 year clock on the life of the default if the matter is addressed carefully, you obviously need to get this cleared up pretty quickly, so I suggest that you make a Subject Access Request under the Data Protection Act 1998, this compels the original creditor EGG (now Barclays to provide all the data held on the account within 40 days there is a £10 statutory fee and you can use the template from the CAG Library and amend to suit your case, The SAR must be addressed to the Data Controller.

 

Meanwhile check the other CRAs to see is associated addresses show if so get the agency to remove them.

 

Ok now Lowell, have you any correspondence from them to hand? If so what are they saying?

Do you know when the last payment was made on this account?

 

I can draft a letter for you that can stop their nonsence.


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