F&F offer from Lowell, is it ok to accept or do I need something more in writing

[CapoFort]

Hi Guys, got some previous help from people and was hoping for just a little bit more info as I try to get myself out of this mess

 

specifically what would be the impact of having an partially satisfied debt on my account when I have a CCJ on it already?

 

CCJ was on 06/08/2014. making repayments on this and it will be satisfied fairly shortly. plus have the intial default for this debt which is 31/01/2013.

 

A default for a overdraft dated 31/05/2014, will be making a full and final offer soon

 

and lastly a credit card debt with a default 05/09/2012 for an amount of £323.

 

For the debt of £323 lowell have offered to accept 50% payment but the debt will marked partially satisfied.

 

I just want to know how much this would actually make a difference. Because of the low amount I could just repay in full and have it marked satisfied but would this make any difference to other lenders?

 

Would it help to have at least one debt as satisfied or is it really a case once I have 3 defaults and a CCJ then it makes no difference?

 

getting abit confused by all the info out there about this

 

really not sure if having 2 satisfied debt/ccj and 1 partially satisfied debt is any better then having 1 satisfied CCJ and 2 partially satisfied debt

 

any input would be greatly appreiated

[Bazooka Boo]

There is absolutely NO incentive to partially settle any debt that has been marked on your credit file, the default, whether marked 'settled' or not will still affect your credit score, as the marker will not drop off your credit file until its six birthday.

 

Clearly the CCJ takes priority as the repercussions of not paying that will result in bailiffs and more fees.

 

Any debt that Lowlifes have and offered a 50% discount on is obviously unenforceable or is littered with reclaimable fees and charges, anything a DCA has should be at the very bottom of your 'to pay' list, if not ignored all together.

 

So in answer to your question, No it will NOT make any difference to your CRF, once the default is on there, there it stays for 6 years paid or not.

[CapoFort]

The incentive I have is so I dont end up with another CCJ.

 

My CCJ stems from another credit card I had at the same time. I had moved abroad and forgot about them both. Both more or less defaulted around the same time. One stayed in default and the other progressed to a CCJ for some reason, even though there was only an £80 difference between them.

 

and honestly the £323 seems about right, think it was a case that I live abroad now so realistically they cant chase me for it but for the peace of mind that I dont get another CCJ I will pay £160

 

thanks for the quick reponse though and will probably be back here once I get round to sorting out my overdraft

[Bazooka Boo]

The CCJ you got was because you didn't defend it, because you were out of the country so they were able to obtain a CCJ by default, a very common trick unscrupulous DCA's use.

 

So you WON'T end up with another CCJ because you're aware of the debts, and should they attempt legal action then you will be bale to successfully defend their vexatious claim.

 

If you're living abroad, when are you returning to the UK?

[CapoFort]

Also on a side note anyone have any idea why one would go to a CCJ and the other didnt?

 

They were both handled by Lowell Group.

 

£323 defaulted on 05/09/2012

£404 defaulted on 31/01/2013

 

But the £404 one got passed on to Fredrickson and then onto Bryan Carter (I only found this out when I contacted Lowell Group after seeing them listed on my CRF)

[Bazooka Boo]

Because you didn't defend it, hence the CCJ.

 

If freds have it then BC will no doubt follow suit and attempt a CCJ.

 

STOP talking to these fleecers over the phone.

 

When are you returning to the UK?

[CapoFort]

Seems I wrote the same time you did.

 

I understand you are right but I just prefer to not have it hanging over my head in anyway.

 

 

I understand that they are all not nice but I do have to take responsibilty for letting it get to the stage where it was being dealt by a DCA.

 

 

I could have just contacted the credit card companies and sorted it out but human being make mistakes sometimes

 

Going through this process of dealing with these things most of my anger is at the government really and the extremely poor framework they have in place.

 

 

as much as the DCAs are mostly not nice there is still the matter of a 6 year period for defaults why not create a gradient system, ie 2 years for low level debt etc etc.

 

 

Seems insane I am locked out of credit until 2020 for credit card I forgot to pay £20p/month back in 2012

 

Really not sure exactly, either next year or the year after but all depends on work

 

I am already making payments to the CCJ. it will be repaid within 6 months.

 

The debt is for £160, and luckily I can afford so if it really makes no difference if it was partially satisfied then I will just pay for peace of mind

[Bazooka Boo]

OK well keep on top of the CCJ, well done!

 

The others I would be extremely sceptical of paying, especially as they are being chased by powerless DCA's.

 

You CAN reclaim any fees/charges they have added to the debt, reducing it, OR for the likes of credit cards demand the CCA to see if it is in fact enforceable, which could stop any legal action from the off.

 

The overdraft warrants a SAR to the bank to find out how much of it is made up of their charges and interest on those charges which can be reclaimed using the hardship rules, then you can make an offer of payment to clear the rest.

 

The CC which Lowlifes have so generously offered a 50% discount on most definitely needs investigating, when did you take this card out and with who?

[CapoFort]

Thats the thing

I really dont think many charges have been added to the CC,

£323 makes sense to me. the CC was with Capital one.

 

Out of interest what is the issue with them offering 50% settlement?

you seem to be implying that if they are offering that then something must be wrong.

 

I was under the impress that DCA buy debts for a fraction of their original amount so are willing to offer reductions if that means making a profit.

 

Also is it usual that the CC debts would show on Equifax but not on Experian?

Just got my experian CF a few mins ago and no mention of the CC debts

[CapoFort]

Hi guys,

 

Following on from a earlier post I made where I talked about getting a settlement offer from Lowell I got the letter from them, wanted to make sure it was ok to accept or if I needed something else in writing from them. (sorry for creating a new post but for sake of clarity thought it best.

 

The first part of the email is discussing a complaint I made so more wordy then usual so sorry about that but thought best to show the entirety of the email.

 

thanks in advance guys, been a real life saver getting advice from people here

 

================================================================

I write further to our telephone today in regards to the above account and would like to thank you for taking the time to speak to me.

 

I appreciate the comments you raised in regards to the default which is being reported on your credit file for the above account and that you had moved out of the country prior to the account entering default status with Capital One.

 

Therefore, you have requested a discount to clear the outstanding balance and for the default to be removed from your credit file.

 

As discussed, as you are the account holder, the onus is with you to maintain the day to day running of the account; this would include notifying the original creditor of your change of address and circumstances.

 

The above account entered default status prior to our purchase. The default notice, which is a technical document and is applied to a credit agreement should, the customer fail to repay their account over a prolonged period of time and is issued by the original creditor.

 

At the point of purchase, Lowell Portfolio l Ltd gained the rights and benefits associated with this account from Capital One and became the data controller in respect of this matter, as defined by the Data Protection Act, replacing Capital One.

 

A default will remain on your credit file for six years from the default date; this is compliant with the terms of the Consumer Credit Act 1974 and the Information Commissioners Office (ICO). The credit file of an individual must give a true reflection of how credit has been managed including the recording of defaults were the relationship between the lender and borrower has broken down.

 

Your concerns in regards to the above account have been raised with Capital One. However, during our conversation you stated you would be happy for us to no longer await their response as you were looking at an amount in full and final settlement of the account.

 

Also as discussed, we are under no obligation to accept any offer of a partial settlement amount for any outstanding balance on an account.

 

However, as agreed in resolution to your complaint and to bring this matter to a conclusion to prevent any further delay or inconvenience, I am happy to offer a 50% discount as full and final settlement of the account.

 

Therefore, the outstanding balance due for the above account is £156.76, as agreed you will make payment upon receipt of this email via our web facility. Once this amount has been paid, I will take the necessary steps to close the account.

 

I must advise that once the balance is cleared the default will be marked as ‘partially satisfied’ with a zero outstanding balance to reflect the balance being cleared through a discounted settlement. This is to give a true and accurate reflection of how the debt was cleared.

 

I trust you will find this to your satisfaction, although if you disagree with how I have reached my conclusion, please do not hesitate to contact me on Freephone 0800 5420058 telling me your reason and include any evidence that has not already been provided that you think is important to your case. Alternatively you can email me using [email protected] or write to me at the above address.

 

The Financial Ombudsman Service also provides a dispute resolution service to assist customers who feel their complaint remains unresolved. You have the right to refer your complaint to the Financial Ombudsman Service, free of charge.

 

Although there are time limits for referring your complaint to the Ombudsman, we will consent to the Ombudsman considering your complaint even if you refer the complaint outside the time limits.

 

For more information, the Ombudsman’s consumer leaflet, “your complaint and the ombudsman” can be accessed via the following hyperlink: http://www.financial-ombudsman.org.uk/publications/consumer-leaflet.htm Alternatively, you can visit their website www.financial-ombudsman.org.uk

[martin2006]

Not unusual, they dont all report to all of the cra's

[unclebulgaria67]

Paying the amount, just accepts the offer made, so if you are happy, just pay it.

 

If you are not happy with the way Cap1 or Lowells have acted, then continue with the complaint and go to the FOS, if necessary.

[CapoFort]

thanks will do,

 

just wanted to make sure there wasnt any extra info I needed to insist on to ensure no one else will be chasing me in the future

[silverfox1961]

While the default issue is a bugbear, if you are happy to accept the offer, then it is fine however, I would just make sure that they won't sell on any balance remaining after the F&F

 

 

It has been known in the past that while a DAC will say they won't chase any balance, it doesn't stop them flogging the balance on to some other lowlife.

 

Better safe than sorry eh!. If you ring them, record the call and no, you don't have to tell them.

[havinastella]

I wouldn't pay them a penny with what they are offering. You hold the Aces, so tell them what YOU want. But that's just me.

[citizenB]

 

The above account entered default status prior to our purchase. The default notice, which is a technical document and is applied to a credit agreement should, the customer fail to repay their account over a prolonged period of time and is issued by the original creditor.

 

 

No Lowell, it is not a "technical document", it is a mandatory statutory document. It is issued when the terms of an agreement are breached and provides for a period of time in which to remedy the breach - (usually 14 days) after which time the creditor can take further actions.

[dx100uk]

why fund the suffering of hundreds of other people?

 

its clear profit to their pocket

to power the PC to spew out 10'000's of mugging letters to others.

 

 

DONT PAY A DCA A PENNY EVER

 

 

dx

[CapoFort]

thanks guys for taking the time to read it.

 

and I know you guys are right could have fought it but I have a defaulted overdraft from a student account that is still with natwest so just wanted out of the way so I can deal with that, as from what i understand that will be more difficult to sort out a settlement as they havent sold the debt on.