Caesar UE Diary

[Kenny91]

Hi guys, Kenny91

As you said in December, Lowell came back with 60% discount. They have offered me to pay pay the discounted balance in 12 instalments and I have a month to accept or reject their offer. This sounds tempting because there is long way until SB, but on the other hand I feel they don't have their paperwork in order.

I will think about it, but in case I decide to accept it, how should I approached them, in order not to be tricked and forced to pay the full balance?

Hi Caesar,

I'm not an expert, but I don't think there's any right or wrong way to handle such offers, with the "correct" course of action the one you feel most comfortable with. Peace of mind is priceless.

My understanding of SB legislation is that if you don't acknowledge the alleged debt in WRITING then the SB clock won't reset. As such, I'd be tempted to offer them a figure OVER THE PHONE of just 10-12% of the debt and see if they bite/counter. You could perhaps offer to pay over 1-3 months to secure a discount at the higher end of the range.

To be on the safe side, get them to email/post it to you rather than be enticed into signing into their website that might have a hidden T&C about such a log-in being acknowledgement of the alleged debt.

My gut feel is Lowell would have taken legal action by now if they had all the right paperwork, as they are one of the tighter/trigger happy legal process DCA's according to multiple posts both here and on other reputable forums.

I note your alleged debt relates to an overdraft rather than a loan/credit card and there appear to be conflicting views about whether CCA legislation applies to ODs. JCS and other knowledgable posters here say it does, but on some other sites that view is disputed.

In terms of their offer, the letters usually state quite clearly that once the discount figure is paid in full, the account is closed/balance cleared. So, I doubt there'd be anyone chasing you in the future. FWIW, I've not seen any posts here or elsewhere saying Lowell have played dirty with partially settled accounts, so that bodes well.

I'm actually considering my settlement options with them over the next few weeks, so may have an update on my diary late next month/April.

Let us know how you get on and I'll do the same in due course.

K91