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Hi there, just logged on!


Lowell Financial, I like the low in the Lowell. well!! they must be watching!!?


If a company like lowel buys a +6 year debt, how can they enforce it? If they are not related to the company that you signed the agreement with under the consumer credit act.

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It really depends.

If there has been NO payments on the account in 6 years then it is statute barred and CANNOT be enforced. Now this doesn't stop them trying to collect.


They like to prey on the vunnerable and use automated nasty grams threatening all sorts of action that cannot possibly be carried out.

Be VERY careful whose advice you listen too

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Under the Limitations Act 1980 the time limits are

  • in simple contracts, 6 years
  • in contracts under seal, 12 years.

If the debtor acknowledges the debt in writing or makes a part payment within the original limitation period, then the time limits start to run again from the date of acknowledgement or the date of payment.


Even though the lender may be barred from pursuing recovery, a debtor may decide to pay the debt after the expiry of the time limits. Because of this you should allow a debt which is otherwise statute-barred if the personal representatives pay the debt and you receive evidence that the payment has been made.


The above instructions do not apply to debts in Scotland. Under Scottish law, if a lender allows time to pass without receiving any payment an action for recovery may become barred under the Prescription and Limitation (Scotland) Act 1973. (For details of this Act see Gloag and Henderson 10th edition at Chapter 15.). These debts are completely extinguished and cannot be enforced. Once the prescriptive period expires the debt cannot be allowed as a deduction.

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