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Lowell Portfolio 1 & 2


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I'm writing this for the Noob's here... Much has been said about Lowell Porfolio 1 & 2 not being registered with The Information Commissioner etc... as a Data Proccessor...? And that this is a major help?!

 

WHY??!!! HOW DOES THIS HELP US NOOB'S??! (NEW USERS).

How does this help us that are now having to deal with Lowell Financial?

 

I realise that a lot of writers here are experienced users, but...

posting in the obvious is of little help to newer users!

 

How should newer users respond to Lowell's threats with this in mind???

 

Best Regards - Dave.

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Hi Diskmandave.

 

If you post it as a direct question, I'm sure that someone will explain it to you.

 

If you already know, then howabout you post a short piece to explain it to others?

 

Regards, Rooster.

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Thanks Rooster!

 

I'm posting as a question! How does this help us newer users?

I'm in the situation of needing to know too, so i'm asking on all of our behalfs!

Lowell has obviously bought a heck of a lot of debts recently!

 

My immediate response was to both CCA and SAR them...

 

For those of us now new to Lowell, what letter should we be sending to them with regard to Lowell Portfolio 1 & 2 not being registered as Data Proccessors?

 

Obviously, Lowell Financial is doing the debt collection, BUT on behalf of LP1 or LP2. LF being legally registered, BUT, LP1 & LP2 not so...!

 

Sorry if I wasn't clear to begin with!

 

Regards - Dave

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Hi Diskmandave.

 

If you post it as a direct question, I'm sure that someone will explain it to you.

 

If you already know, then howabout you post a short piece to explain it to others?

 

Regards, Rooster.

 

Yes! I'm asking a direct question!!!

 

Regards - Dave.

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Hi Diskmandave.

 

It's not my forte, (although i've got plenty of debt of my own), but now that you've clarified the initial post I'm sure that the answer won't be far away.

 

Regards, Rooster.

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they are registered :

 

they use I and II instead of 1 and 2

 

see here

 

Lowell Portfolio 1 are registered as Lowell Portfolio I.

 

See here Information Commissioners - Data Protection Register - Entry Details

 

and also Lowell Portfolio II here Information Commissioners - Data Protection Register - Entry Details

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I've been doing some more checking on the Lowell Companies and found something in their reigstrations that might be the loophole for everyone.

On the licence issued by the Information Commissioners Office it states the purposes for which they process data

All of the Lowell Group have this as what they do and can't do in the purpose relating to debt

Lowell Portfolio I

Purpose 2

 

Debt Administration and Factoring

Purpose Description:

The tracing of consumer and commercial debtors and the collection on behalf of creditors. The purchasing of trade debts, including rentals and instalment credit payments, from business.

 

The way I read this is that they have a licence to Collect consumer debts

on behalf of a creditor.

And this is the important point for everyone to think about.

The purchase of trade debts, including rentals and instalment credit payments,.

 

The way I read this is they have made a little legal "error" and it means that they can collect a consumer debt on Behalf of a creditor....BUT they can not purchase a consumer debt......... ONLY.... business debts.

If that is the case then all the consumer debts have been bought against what the licence say they can do, and they are stuck with them and can't chase the debtor on behalf of the creditor because the creditor no longer has the agreement

 

What can folks out there make of that?????

If that can be made stick I

'I'm sure other DCA's have used the same wording and could affect a lot of people getting their money back off these sharks.

 

 

 

sparkie1723

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The purchasing of trade debts, including rentals and instalment credit payments, from business.

All that this means is that they can only buy debt from a registered business. They cannot buy a debt from an individual. They can still buy consumer debt from a business.

HSBC

7th October 2006 - Prelim for £3078

24th October - LBA

7th November - Claim filed

11th November - Acknowledged with intent to defend

11th December - Defence filed

16th December 2006 - Offered full amount but no default removal. Rejection letter sent.

 

Halifax

7th October 2006 - Prelim for £3427

24th October - LBA

3rd November - Offered £913

3rd November - Accepted as partial payment

7th November - Claim issued

21st November - Acknowledged with intent to defend

11th December - Offered full amount but no late payment removal

4th January - SETTLED + removed adverse credit info

 

A & L

19th October - Prelim for £540

26th October - Offered £358

2nd November - Accepted as partial payment and LBA

27th November - SETTLED + removed adverse credit info

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I welcome your comment but I would say that as having been a businessman myself and a self employed one who has in fact first knowledge of sole proprieters selling their debts to raise business cash to DCA's in fact in the mall business magazines it it well advertised so your interpretation that they can only buy registered businesses has a flaw in it there are main classes of business

1 trading business such as export import Garages, Shops Electrical Plumbing etc etc etc

2 Other businesses such as professional Solicitors, Accountants, Marketing, Telecommunications, etc etc etc

3 Manufacturing industry business

 

Consumer and banking iindustries classed as provision of services

 

I'm only trying to find outs for people in trouble through DCA's

 

Sparkie 1723

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Where's the flaw? What I'm saying is that their license does include the ability to buy consumer debt. A sole proprietor is still a business.

What a DCA can't do is buy a debt off an individual who is not running a business.

HSBC

7th October 2006 - Prelim for £3078

24th October - LBA

7th November - Claim filed

11th November - Acknowledged with intent to defend

11th December - Defence filed

16th December 2006 - Offered full amount but no default removal. Rejection letter sent.

 

Halifax

7th October 2006 - Prelim for £3427

24th October - LBA

3rd November - Offered £913

3rd November - Accepted as partial payment

7th November - Claim issued

21st November - Acknowledged with intent to defend

11th December - Offered full amount but no late payment removal

4th January - SETTLED + removed adverse credit info

 

A & L

19th October - Prelim for £540

26th October - Offered £358

2nd November - Accepted as partial payment and LBA

27th November - SETTLED + removed adverse credit info

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If you take the first sentence and tis is how laws are interpretated it reads this

"The tracing of consumer and commercial debtors debtors and the collection on behalf of creditors."

 

It specifies here consumer and commercial debtors...we know who consumers are they are defined in law as the public

a commercial debtor s a seperate entity form a consumer they are the directors of companies who have gone gone garuantors for loans and such for a limited company or export payments VAT and Company taxes and the like. That is what the first sentence allows them to do.

 

This is the sentence that covers consumers and commercial debtors,these commercial debts are the only ones a director is personaly liable for.

 

The second sentence says exactly what it says they can only purchase trade debts including rental & credit instalments payments from business,i.e business rents, rates trade credit agreements for plant machinery motor vehicles etc etc that have been taken out in the business name...these are the debts a director is NOT personally responsible for.

 

also what is called in business franchising of your business debts you sell the value of your credit sale invoices to a DCA for APPROX 68% of the value of your invoices.

 

A consumer debt is not a trade debt it is a financial contract to a supplier of a Banking service and these contacts are not commercial debts are not trade debts.

 

These are the sort of arguments to put forward when fighting these creeps

 

Sparkie 1723

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We're posting like Mr Stupid now!

 

WHY is it of help to us that LP1 & 2 are not registerred?!!!

 

Me.............. Debt is 5 years old, it is in dispute when sold,

70% of debt is unlawful penaly charges!

 

WHY is it important that LP1 & LP2 are not registered...?

 

Guessing......!!!!?? Can I write them and tell to F.Off. ?????

 

This is why I ask that posts be not in "obvious" mode!

 

Regards - Dave.

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If you get caught fishing without a licence, not only are you breaking the law,

for which you get punished, but any fish you have caught are confiscated.

 

If you are not registered with the Information Commissioners Office to process data about people etc , then

not only are you committing an offence, but any money you have already collected can be reclaimed, and they cannot enforce any further payments until they have sorted their credentials with the Information Commissioners Office.

 

I am inclined to agree with Sparkies reading of the situation viz a viz trade

debts. I too take it that it can only refer to business to business debts.

Debts between banks and individuals for instance should not be purchased

by them as they have not applied for that mandate. Start writing for your

cash back.

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Purpose Description:

The tracing of consumer and commercial debtors and the collection on behalf of creditors. The purchasing of trade debts, including rentals and instalment credit payments, from business.

 

This reads that :

 

They have a licence to TRACE consumer debt and collect ON BEHALF of the creditor. They do not have the licence to BUY IT.

 

They CAN purchase trade debts (those from a business, whether Ltd or Sole Trader).

 

This may mean if they are purchasing consumer debts then that is not covered. However, they may have a company within the group that is licensed for that. What the score is on passing personal info without your consent from Ltd Co to Ltd Co is a whole separate issue.

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  • 1 year later...

Hi,

 

Lowell are after me, They purchased my debt with Barclays Bank for £1800 and now want payment.

 

Can you confirm they still dont have a licence to purchase?

 

Regards

 

Dave

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Ive just been on Register of Data Controllers & their roles - Information Commissioner's Office - ICO

 

and LOWELL PORTFOLIO II LTD and LOWELL PORTFOLIO I LTD

 

are not covered under the purchase of consumer debts.

 

I am going to contact the ICO tomorrow and just confirm from a legal point of view that they cant purchase the debt and its confirmed then

 

LOWELL can P*** O**

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Just spoken to ICO helpline

 

They said, Lowell have a Consumer Licence with OFT and its now the case have OFT given them rights to purchase consumer debt.. i'm now starting to think YES they can :(

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