Lowell Portfolio I, HBoS, Credit Card

[SaabDriver]

Dear All,

I have recently been contacted by Lowell Portfolio I regarding a credit card debt with HBoS.
I am in a sticky situation having only just started work from a failed business, so I could do without the debts that have the possibility of being deferred until I'm in a better financial position.

I have requested from them a copy of the original agreement, and surprisingly, even though I thought I had applied online, it has my signature on it!

This debt is only £526, of which more than a third I can attribute to charges looking at the statements they have provided me with...

My question is, and this is only to delay payment of the debt, not to avoid it completely, can I look at an enforceability option?

I have attached the Agreement here, and surprisingly, I have not needed to blur any personal information... does this mean that the "4 Corners" rule might apply here? there is no way to determine from the agreement alone who the agreement refers to?



Any Advice is gratefully received.

[Never-In-Doubt]

Re: Lowell Portfolio I, HBoS, Credit Card

There is no "4 corners" rule????

If you mean are the prescribed terms missing then possibly maybe but it's from 2008 so you cannot really utilise s.127(3) for u enforceability. As its such a low debt why not write in and try and get the debt reduced somewhat and raise a dispute over unfair charges if anything?

Id not mess around over a small debt like this....

[SaabDriver]

Re: Lowell Portfolio I, HBoS, Credit Card

Thanks N-I-D,

Unfortunately my meagre salary is going to be eaten up with living and repaying other debts... I have 2 CCJ's that have been secured on the house via directors guarantees in the court. Repaying these that could cost my house are of my priority...

On the slim chance of an enforceability dispute, could I get this delayed?

[oscar]

Re: Lowell Portfolio I, HBoS, Credit Card

I'd call Lowell personally for a debt of this size. Lowell probably paid in the region of £50 - £100 for this given the typical rate for a DCA is 10-20p in the pound.

I'd be second guessing, but having dealt wit Lowell, I expect they would accept circa £300/£350 to settle.

[SaabDriver]

Re: Lowell Portfolio I, HBoS, Credit Card

Thanks for the advice guys,

I was really hoping for a breakthrough comment from somebody who knew more than me about how to read the law and the agreements...
I'll heed your advice, but I doubt i'll be agreeing to any repayments just yet... I am considering using a debt charity to help me manage properly...
As I said, I'm not looking to avoid the debt (although we all hope it will disappear through a magic loophole), just delay it long enough to have the capital back to pay it off in a F&F.

Thanks again

[cymruambyth]

Re: Lowell Portfolio I, HBoS, Credit Card

Have you thought of trying to sort out your repayments yourself? The debt charities usually charge for administering your account.

[Never-In-Doubt]

Re: Lowell Portfolio I, HBoS, Credit Card

Thanks for the advice guys,

I was really hoping for a breakthrough comment from somebody who knew more than me about how to read the law and the agreements...
I'll heed your advice, but I doubt i'll be agreeing to any repayments just yet... I am considering using a debt charity to help me manage properly...
As I said, I'm not looking to avoid the debt (although we all hope it will disappear through a magic loophole), just delay it long enough to have the capital back to pay it off in a F&F.

Thanks again

There is no get-out sadly, it is post 04/07 hence my first comment told you that you cannot utilise unenforceability and plus, as they have a signature it would be pretty easy for them to reconstitute an agreement from 2008. Based on how much is owed, why not just offer pay £1 per month?

When, out of interest, did you stop paying into this / last pay anything?