Hi all,
Over seven years ago I have had a load which in Jun 2009 due to the recession and following unemployment I have stopped paying off. Been abroad for over 5 years since 2009 and could not really afford settling this with Lloyds as I was makink crap money most of the time...
Now back in UK since June and only few months ago have somehow been found by Lowell DCC. They sent me a number of letters (4 or 5 every 2-3 weeks) saying they have bought my debt from Lloyds and want to recover it from me.
In their letters they initially offered me instalment payments options, then in another one they tried to made me an offer to make one off payment of 80% of original debt to clear it in one go, finally since not heard back from me at all theyreatened to obtain my credit/bank/employment details and take the case to the court to obtain Statutory Order.
It has now been exactly 5.5 years since I stopped paying off my loan and have not contacted neither Lloyds nor anyone else regarding above matters since then. I have also not even once acknowledged receipt of any debt related correspondence.
With Lowell now threating to take the case to the court, do you think I should contact them and settle some sort of payments or shall I stall the whole thing and avoid any acrtion or contact until it has been fully 6 years since my last payment so I can get my debt satutory barred?
Any advice would be most welcome as I am quite confused. I don't really know how quick those companies are when it comes to taking matters to court and how quickly then courts proceed such cases.
Thanks in advance!
P.
Over seven years ago I have had a load which in Jun 2009 due to the recession and following unemployment I have stopped paying off. Been abroad for over 5 years since 2009 and could not really afford settling this with Lloyds as I was makink crap money most of the time...
Now back in UK since June and only few months ago have somehow been found by Lowell DCC. They sent me a number of letters (4 or 5 every 2-3 weeks) saying they have bought my debt from Lloyds and want to recover it from me.
In their letters they initially offered me instalment payments options, then in another one they tried to made me an offer to make one off payment of 80% of original debt to clear it in one go, finally since not heard back from me at all theyreatened to obtain my credit/bank/employment details and take the case to the court to obtain Statutory Order.
It has now been exactly 5.5 years since I stopped paying off my loan and have not contacted neither Lloyds nor anyone else regarding above matters since then. I have also not even once acknowledged receipt of any debt related correspondence.
With Lowell now threating to take the case to the court, do you think I should contact them and settle some sort of payments or shall I stall the whole thing and avoid any acrtion or contact until it has been fully 6 years since my last payment so I can get my debt satutory barred?
Any advice would be most welcome as I am quite confused. I don't really know how quick those companies are when it comes to taking matters to court and how quickly then courts proceed such cases.
Thanks in advance!
P.