Partially Satisfied - Lowell 'offer'

[oneofakind]

Hi all,

 

Back after a long break, good to see some of the old familiar names are still here....

 

My OH has a very complicated credit history.

Lots of accounts are being paid off under a plan which was originally put in place by CAB, then taken over by me once i discovered CAG.

 

She has just received an 'offer' from our good friends at Lowell

- a discount of 75% to pay off an old bank debt.

 

on receipt of payment they will 'update your credit file to show the account as partially satisfied and we will close your account'.

 

Now, would I be right in thinking that 'partially satisfied' is absolutely no use to us, and we should ignore this offer like all the rest?

 

Just to avoid the obvious questions,

this loan is certainly pre-2007;

we are not currently paying anything,

and i don't remember without digging into the mountain of files when the last payment or acknowledgement was.

All i need is an opinion on the 'partially satisfied' gambit.

 

[SabreSheep]

Partially satisfied = sell rest on to another fleecer!!!

 

It would also reset the statute barred clock

 

UNLESS it was already statute barred in which case you should tell them it is so

[oneofakind]

It may well be SB.... most of my actions with these accounts date back to 2007/08 - as you'd see by my previous postings!

 

You've confirmed my suspicions, so this just gets added to the pile and ignored for now, while I check the SB status.

 

Thanks.

[caro]

It may well be SB.... most of my actions with these accounts date back to 2007/08 - as you'd see by my previous postings!

 

You've confirmed my suspicions, so this just gets added to the pile and ignored for now, while I check the SB status.

 

Thanks.

 

Spot on. Nice try Lowells!

[gregs07]

Check your credit file, free on noddle. If it's dropped of your credit file hey presto

Two fingers to lowell.

[dx100uk]

jus remember just 'because' a debt does not show on a credit file

it doesn't mean a debt is statute barred

 

 

it a good pointer, yes, but not 100% guaranteed

esp with a bank account.

 

 

SB'd status on a bank account could be several months or even years later

it will be when the bank called the OD in.

 

 

however, as with all bank OD's that DCA's purchase

9/10 the balance is littered with 'penalties' that were probably very unfair

and thus under the old OFT, now the FCA guidelines, unlawful too.

 

 

hence the 'discount'

 

 

dx

[renegadeimp]

Also Lowell's offering a massive discount almost always means a lemon debt.