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  • #1

    lowest % they will take

    My barclay debt has been sold to lowells in the last week and I was wondering what do you think the lowest offer they would take to clear the balance and remove the defaults.

    The debts are all unenforcable credit cards and the reason I would like to get rid of the defaults is they are starting to effect my wifes credit ratings.

    Similar thread is here: ---> Natwest reduced cc limit
    Last edited by Never-In-Doubt; 28 June 2011, 12:48. Reason: added link
    Tags: accounts, barclay, cards, credit, credit cards, credit score, data, debt, debts, default, default removal, defaults, lenders, lowells, mat, mortgage, natwest, offers, purchase, ratings, recovery, refuse, removal, split, stay, template, templates
  • #2
    Re: lowest % they will take

    You won't be able to remove the defaults. Only thing you could do is lie (ahem) and say you've split and then disassociate yourself; however any joint accounts would auto link back in so not always that easy unless you've got totally sole accounts.

    Lowells purchase in bulk at approx 12p to the £. So an offer to them at 20% would get them to sit up and listen

    Lowells also buy bad debt with low likelihood of recovery so they negotiate quote low usually.
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    • #3
      Re: lowest % they will take

      So really it's not worth doing anything about it then, if I cant removed the defaults.

      Even if they show settled ( assuming they could do that)it's still going to effect the credit score I would have thought

      Comment

      • #4
        Re: lowest % they will take

        Originally posted by mgfboy View Post
        So really it's not worth doing anything about it then, if I cant removed the defaults.

        Even if they show settled ( assuming they could do that)it's still going to effect the credit score I would have thought
        After McGuffick most lenders refuse to remove data (ie it showed an accurate record of events and so it'll have to stay) - however we do have a template, no harm in asking - but i'd suggest it won't matter either way if you're financially linked (joint mortgage etc)...?

        Template is here: Offer for Default Removal Template
        I'm the forum administrator and I look after the theme & features, our volunteers & users and also look after any complaints or Data Protection queries that pass through the forum or main website. I am extremely busy so if you do contact me or need a reply to a forum post then use the email or PM features offered because I do miss things and get tied up for days at a time!

        If you spot any spammers, AE's, abusive or libellous posts or anything else that just doesn't feel right then please report them to me as soon as you spot them at: webmaster@all-about-debt.co.uk

        Comment

        • #5
          Re: lowest % they will take

          Originally posted by Never-In-Doubt View Post
          After McGuffick most lenders refuse to remove data (ie it showed an accurate record of events and so it'll have to stay) - however we do have a template, no harm in asking - but i'd suggest it won't matter either way if you're financially linked (joint mortgage etc)...?

          Template is here: Offer for Default Removal Template
          shot in the dark i know but if everyone who trys to get a ff from say lowells negotiate a ff then say sorry no default removal then no deal surely they would EVENTUALY get the message
          at the start of this journey i owed
          £52000.00 UNSECURED £5000.00 SECURED
          £0000.00 secured debt as of 17/12/2010 fingers crossed
          on 14/07/2012 i now have £32.000 unsecured and £15.000 unenforceable [thanks to niddy and aad ]
          as of 17/03/13 its now £26K AND £15K UE
          ITS COMING DOWN SLOWLY WHILE STILL ENJOYING MY LIFE

          Comment

          • #6
            Re: lowest % they will take

            Originally posted by wishfullthinking View Post
            shot in the dark i know but if everyone who trys to get a ff from say lowells negotiate a ff then say sorry no default removal then no deal surely they would EVENTUALY get the message
            Hi,
            Did you pursue this?
            When Gold isn't enough, there is SA Gold! New to the forum and find the UE route a bit scary? Take a look at my diary here and judge for yourself. I am now saving the money each month that was making little difference to the balance and not a bit of difference to my credit file as a result of finding AAD.


            I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

            If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

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            • #7
              Re: lowest % they will take

              Originally posted by Never-In-Doubt View Post
              You won't be able to remove the defaults. Only thing you could do is lie (ahem) and say you've split and then disassociate yourself; however any joint accounts would auto link back in so not always that easy unless you've got totally sole accounts.

              Lowells purchase in bulk at approx 12p to the £. So an offer to them at 20% would get them to sit up and listen

              Lowells also buy bad debt with low likelihood of recovery so they negotiate quote low usually.
              This is interesting as I have several Shop Direct accounts sold to Lowells.

              I'll post here too when I start making my own F&F offers.

              Best
              SnV
              "I fear all we have done is to awaken a sleeping giant and fill him with a terrible resolve."

              The consumer is that sleeping giant.!!


              I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

              If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

              Comment

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