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Help with Lowell

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hopefully this is is the right place to post.


I took out a personal loan with Tesco bank back in 2014, Shortly after I ended up moving overseas.


I continued to pay this loan but in 2016 I had a few personal difficulties and couldn’t make payments.


I am currently still overseas and had an email recently come through from Lowell that they now have taken on this debt.


i haven’t made payments since 2016 so just over 2 years.

the amount was a fair amount £16000 left.


my financial situation isnt great currently but I did contact Lowell back and explain to them the situation.


I did offer some money I had received through a gift of £2000. As a full final settlement. They did not accept this as I thought would be the case and offered a 50% discount.T


i explained again I really can’t make monthly payments and ended up emailing saying I can’t get this debt down currently and the £2000 is what I could give or monthly payments of £1 (supposed to be sarcastic)


i found this surprising they emailed back saying yes £1 payment a month is fine?

this has just set a bad feeling for me as I have no idea why they would want £1 payments it would never be resolved?


I really do want to do the right thing and fix my mistake but I just have a bad gut feeling about accepting this £1 payment.


is this normal and what should I expect going forwards?

Edited by dx100uk

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Dont offer them anything. Youre being cash cowed.


Forget about whats morally right. You need to do whats legally right. Tesco have nothing to do with it now. A bottom of the barrel DCA does.


Which country are you resident in. DO you plan to come back to the UK anytime within the next couple of years? If you dont, then just ignore them. Give them your current address so they cant get a backdoor CCJ, and theyre stuck. They could keep asking you to pay but they certainly couldnt enforce it through the court system as you arent resident in the UK.

Any advice i give is my own and is based solely on personal experience. If in any doubt about a situation , please contact a certified legal representative or debt counsellor..



If my advice helps you, click the star icon at the bottom of my post and feel free to say thanks


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Congratulations on wanting to repay the debt – and anyway we couldn't give you advice here about how to avoid paying – even if we knew the answer.


The £1 payment effectively keeps the debt alive and stops it becoming statute barred

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