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20th March 2017, 19:12:PM #1
Are Lowell's offers trustworthy?
Today I received two "Pre-Legal Assessment" letters from Lowell regarding two different debts.
The wording of the letters is:
75% discount offer - if you contact us by XX/04/2017
Register at www.lowell.co.uk or contact us by XX/04/2017 to arrange payment and we will take £XXXX.YY off your outstanding balance.
- This means you will pay £XXXX.YY to clear the account.
- You can pay the discounted balance through affordable instalments
So my questions are: this isn't some kind of dirty trick? And is the wording of the letter equivalent to them accepting the payments in "full and final settlement"?
These debts aren't statute barred - one will be in early 2019, and the other in early 2020.
I'm not scared of Lowell and clearly with a 75% offer on the table they clearly don't fancy their chances of recovering the debt (they've had absolutely no contact from me so far), so I don't think it likely they will take legal action.
However, my bigger worry is that these debts could end up being passed on to an even worse debt collection agency who might take me to court.
With such a big discount on offer and such a long time before they're barred by statute, it seems almost a no-brainer to accept this and pay over several instalments, assuming the offer can be trusted.
What do you Legal Beagles think?
Last edited by kaput; 20th March 2017 at 19:14:PM. Reason: spelling
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