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old welcome secured loan - sigma/exprto/lowell - Confused - who owns my secured loan now?


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TBH not really sure.

I wouldn't even know who to pay it too either to get the charge removed.

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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  • 1 year later...

Hi folks, 

 

Hope everyone is keeping safe just now. 

I had an old thread on here regarding my ongoing secured loan saga with Lowell's.

 

To cut a long story short,

they offered me a discounted settlement last year of 4.5k on a balance of around 11k,

unfortunately I had no way of making the payment at the time. 

 

Move on a year and I've saved a little

I wrote to them making an offer of 3k,

they've since written back saying they can't offer a discount on my "litigated account" as it's "deemed payable by the courts". 

 

Firstly, they were the ones that offered me a settlement last year and nothing has changed since then, 

secondly, theres never been any courts involved,

I've defaulted but they never issued a ccj so what are they speaking about? 

 

I'm so confused with this lot, nothing ever makes sense!

 

I also reduced my payment to just a fiver a month,

I have no intention of increasing this again,

under current circumstances why not take the settlement instead of five pound a month for the next hundred years! 

 

They've never been able to produce a legible credit agreement so I assume on that basis, it can't be taken to court either?

 

 

Thanks 

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thanks for the update.

I doubt lowells read anything just assumed a charge (not in their name?) on your deeds wrongly means its must be litigated against, not a secured loan..

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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Share on other sites

Thanks dx, I've drafted a letter back asking them to explain the litigation and to explain how they deemed it ok to make an initial offer! 

 

We'll see what they come back with, under the current climate you would think they'd be snapping up settlement offers. 

 

I'll keep you posted. 

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pers I would not be entering into too much pointless letter tennis.

 

who's name in now on your deeds?

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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Share on other sites

  • 2 months later...

Hi 

 

Further to my earlier posts, I continued to try and reason with Lowell's advising that no court action had ever been taking on my account and a complaint was raised on my behalf.  I didn't submit a complaint but they raised one anyway.  I only asked that someone with a bit of knowledge review my account and the settlement offer I had made. 

 

Today I received an email from their customer relations department advising that my complaint was upheld and the following would happen. 

 

1) £100 in compensation for the misinformation they had given me. 

 

2) close my account and no further amount will be due by me, they advised I cancel my monthly payment. 

 

3) refund any payments made since march 2016 totalling £2440. 

 

4) arrange with welcome to remove the charge from my property. 

 

I have no idea why they have suddenly made such a dramatic decision, at best I had hoped to reach a reduced settlement, this is completely out of the blue. 

 

I will await with baited breath on my refund and the charge to be removed but will post if they are true to their word. 

 

Thanks 

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:becky:  Result...nice unexpected windfall..will come in handy.

 

Well done

 

Andy

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Thanks Andy. I'm intrigued to know what on earth the woman dealing with my complaint came across to suddenly write off the balance and refund my payments. 

 

However, I won't be questioning it, it all seems to good to be true... I'm hoping it's not of course. 

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i would suggest having looked at the sar i still have from you

that welcome froze all interest when they had it..no dca can undo that agreement.

 

lowells simply inherited the account when sigma and all the others were bought up by lowells years ago.

and they just ignored the agreement of no further int...hence the extra owed, collected upon, and the resultant claimed debt.

 

the woman has read back carefully and noticed there was no interest to charge you on so no debt existed...thus the payments refunded

 

good work

 

dx

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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