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I have an old credit card debt from around 5 years ago that Lowell has got hold of.
I've been through the first few stages of disputing the claim and now it's at the mediation stage.
the claimed amount is about £1700 + court fees. This includes £500 of late/missed payment charges.
I understand that I can calculate 8% interest from the date of each charge until today (Similar to PPI). This is another £500. So I'm expecting to pay around £700 to clear the debt.
On top of this, I have a letter that was sent by Lowell portfolio last year. They offered a 60% reduction in the debt, offering to close it for £700. Technically, Lowell Portfolio is a different company to Lowell financial, but I hope it should strengthen my argument.
Does this sound reasonable?
I've been through the first few stages of disputing the claim and now it's at the mediation stage.
the claimed amount is about £1700 + court fees. This includes £500 of late/missed payment charges.
I understand that I can calculate 8% interest from the date of each charge until today (Similar to PPI). This is another £500. So I'm expecting to pay around £700 to clear the debt.
On top of this, I have a letter that was sent by Lowell portfolio last year. They offered a 60% reduction in the debt, offering to close it for £700. Technically, Lowell Portfolio is a different company to Lowell financial, but I hope it should strengthen my argument.
Does this sound reasonable?