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Lowell and Creation

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Hi

We owe £3000 to Creation Finance and had agreed to pay £50pm some 2 years ago, we have paid on time each month and were happy to continue for now...

But We have received a letter form Lowell bluntly stating that that they have purchased the debt and we have to pay them.

I cancelled the Direct Debit to Creation so that they didnt receive the money and awaited for Lowell to contact us with a 'welcome pack'(!!!)

We have now received a letter form Clarity stating Failed payment notice!

Can we continue to pay the £50 pm to Lowell as we did to creation or are we at the mercy of Lowell now??

 

Many thanks

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Welcome exeterbay,I love the a "welcome pack" from Lowell,all you will get are idiotic demands, and you are not at the mercy of Lowells.

 

If they have purchased the debt then you should receive a Letter of Assignment from Creation and one from Lowells,I trust you have these?

 

Assuming you are happy and can afford to pay £50 per month then set up a Standing Order to Lowells not a Direct Debit that puts you in control.

 

Did this loan have PPI and where there any charges made by Creation

 

Regards FS

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Hi Firstship... speedy reply..nice.

Yes we have a letter of assignment from both companies.

£50 pm is fine ,

Lowells didnt give us any bank details they just said you must call us and pay the outstanding!

 

If we call them and say 'we were happy to pay £50 with creation and that is what we will continue to pay with you please give us bank details' can they argue with that?

 

Don't think it had PPI i've always been too tight to take it out (part of me wishes i had just to get some bulk cash back in!!) and not sure on charges, i will have to look through the paperwork, if there are charges what can i do about them?

 

we had received an offer letter from creation some time ago of 50% off the debt but we just didnt have the cash so it makes me think lowell have paid peanuts for it so they will take a low offer in the future?

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Lowell will have paid 4p-15p in the pound as you have paid on a regular basis it will be nearer the 15p,but they will not admit to this.

 

Never happy about phoning these low life,so write to them or email ask for their bank details and confirm you will continue to pay the £50 as agreed with Creation,they cannot and will not argue about the amount you are offering.

 

Did you have 0% pay back agreement with Creation?

 

You need to check the statements from Creation just in case you paid PPI,and list the charges as well, if any, these can be claimed back,any thing to reduce the balance outstanding

 

In due course you will receive an offer from Lowell's and it will be better than 50%,or at least usually is

 

FS

 

Am I correct this was a Loan?

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Hi

DO NOT call them! They will put pressure on you to make payments above and beyond what you can afford. Deal in writing only even though it is slower.

 

You tell them what you will be paying £50 per month is more than reasonable to me. Ask for their bank details and set up a Standing Order-Not a Direct Debit as they can change the amount at will (sometimes without informing you)

 

If you don't have all the paperwork regarding the original accoubt you would need to SAR the original creditor (costs a tenner). Account info would show what charges were added which can be reclaimed but it may show up other stuff too....


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thanks to you both!! cant believe they pay that little for it! I have another issue thats cropped up with Welcome finance, can i askyou about it in here or somewhere else? you guys are topdrawer so more than happy to share with you!but i have a couple other questions on this saga first..

 

What does 0% payback agreement mean?

 

It was a car loan

 

If there are charges why can i claim them back? and from who?

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Sorry as you had an agreement to pay Creation back at £50 per month did they freeze the interest?

 

If there where any charges for Late Payment, Underpayment ,or any other charges made for whatever reason,they can probably be claimed back from Creation,

 

So check all your paperwork and the agreement to see whether PPI was added.

 

FS

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thanks!! will check it all out!

im going to post another now to do with Welcome!!

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Lowell don't like payment plans hence the lack of payment instructions bank details...watch they don't issue a Statuary Demand/Court Claim for the full amount.

 

 

Regards

 

 

Andy


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Hi Andyorch,

What if they do?

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You come straight back here and we'll help you fight them off.


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