Lowell Financial

[tifo]

£4k is too much. You should offer them 10% if you want to, then they will settle at 20% - 25%. Don't offer more than that.

 

Send the CCA as stated above and they will quieten down for a few months. Keep following this up every month to put the pressure on them to comply.

 

Also check your credit files as they have a habit of making mistakes and this will provide you more ammunition.

 

Eventually they may just give up or accept a very low settlement.

 

I've had 2 accounts written off by them and am after some compensation.

[tifo]

yes, send the s.78 CCA request (might be s.77 for a loan) and then don't contact them until you hear from them.

 

Include this in the letter and they will realise you know some of your rights.

 

"May I also remind you that, while in dispute, no further recovery actions may be taken on this account as per the OFT debt collection guideline (which takes into account their duty under the Consumer Credit Act 1974) section 2.6 (h) and 2.8 (k)."

[tifo]

You can say that you don't acknowledge any debt if you like. They would need to prove that you had done it in writing if they argue the point. Making payments does not count because they had you believing that they legally own the debt at the time. Now you are asking them to prove this.

 

Yes, include the bit you have in bold. It means the OFTs duty under the CCA, and that their guideline takes into account the CCA.

[tifo]

Ok thanks, does offering a FFS constitute acknowledging a debt?

 

not unless you did it in writing and signed it. Verbally does not count.

 

in the end it comes down to the fact that any discussions you had with them in the past were under the belief that they owned the debt, and until they prove that they do then they don't have a right to your money.

[tifo]

oh well ....

 

just leave out the "i don't acknowledge" bit and send the CCA request with the £1 fee.

 

The address to send this to is :

 

Lowell Financial Ltd,

Enterprise House,

1 Apex View,

Leeds.

LS11 9BH

[tifo]

here

 

With reference to the above agreement, I require you to supply me with a signed true copy of the credit agreement under which this account is conducted, together with any other documents mentioned in it. This is my right under your obligation to supply a copy of the agreement under the legislation contained within s.77 (fixed credit) and s.78 (1) of the Consumer Credit Act 1974 (s.78 (1) for running – account credit). Your obligation also extends to providing a full statement of account, detailing all charges and payments to the current date.

 

I enclose £1 in payment of the statutory fee. This payment is NOT to be used to credit my account.

If this debt has been assigned to you from the original creditor, I also require that you supply a true signed copy of the deed of assignment of the above referenced agreement.

 

You are reminded that you are obliged to supply these documents, whether you are the original creditor or not, under s.189 of the Consumer Credit Act 1974.

 

A true signed copy of the credit agreement, together with any other documents mentioned in it, and a signed true copy of the deed of assignment (if applicable), should therefore be supplied to me within 12 working days from the receipt of this letter.

Non-compliance with my request is a criminal offence under the above Act and will result in a report being submitted to the relevant statutory authorities.

 

I understand that under the Consumer Credit Act creditors are unable to enforce an agreement if they fail to comply with a request for a copy of the said agreement under the relevant sections of the Act.

 

Furthermore you are reminded that under s.78 sub section (6) whilst your default continues you are not entitled to enforce the agreement in law.

 

May I also remind you that, while in dispute, no further recovery actions may be taken on this account as per the OFT debt collection guideline (which takes into account their duty under the Consumer Credit Act 1974) section 2.6 (h) and 2.8 (k).

I look forward to hearing from you.

[tifo]

postal order to 'Lowell Financial Ltd' if you're sending it to them.

 

also check your credit files. Defaults should be in the name of Lowell Portfolio I Ltd so if they're not you've got them by the nuts ..... this is a mistake they make sometimes.

[tifo]

if you want to include the 'do not acknowledge' statement then you can do, there's no harm in it.

 

i advised to leave it out because you said you have already acknowledged the debt in writing and signed the letter.