Lowell Debt - Default due to an ex partner

[johnston41c]

So when i was with my ex partner they signed up for a very account online in my name as she had all my details. As she didnt work she would get all the post and hide is so that i didnt know that the account was open.

When we split i found out about the debt when Lowell contacted me. I have asked everyone there but as it was online it is my word against theirs.

I logged this with them and they said they will investigate it. from this they said there is no evidence to support my claim however how would they know as she did it all online and it was for all female items.

The debt got passed to Lowell solicitors and when i call i have to speak to them about payments.

The debt is still owed and i am paying £10 a month off the £1200 balance however the default on my account is stopping me improving my credit file for a mortgage.

I have the money to pay it off in full but i have heard that you can request for Lowell to delete the default if i pay them in full.

Anyone have any advice on how to approach this or what to do to get this removed???

Thanks

[Amethyst]

It is unlikely they will remove the default from your credit file, even if you pay in full. They would mark it as settled ( or partially settled if you negotiate a lower settlement figure - and tbh you could probably settle it for 50-60% and your credit file would end up the same as if you paid the full amount ) I mean you could ask, but even if Lowell remove their reports, the reports from the original creditor may still show and you'd have to try and get them to remove it too .... Lowell will have bought the debt from them for something under 20% of the debt, so settling in full for not a lot of gain seems a bit of a waste I'm afraid as if it wasn't removed entirely it would still show a settled for the 6 years from the date it defaulted... do you know when that was?

Your other option is to report it as ID theft/fraud but that could get very messy and difficult to deal with.

James from Experian gives some thoughts on this article http://www.thisismoney.co.uk/money/e...wledge-do.html and the preceeding view is that having made some payments already indicates you accept liability for the debt.

CIFAS protection might be an idea if you have any concerns she might open other accounts in your name.

[MIKE770]

why pay them - no benefit to you, markers stay for 6 years whatever you do, you pay they win? = you loose regardless double whammy, as far as mortgages are concerned wait a year or so and see how the market pans out up/down??

[johnston41c]

It is unlikely they will remove the default from your credit file, even if you pay in full. They would mark it as settled ( or partially settled if you negotiate a lower settlement figure - and tbh you could probably settle it for 50-60% and your credit file would end up the same as if you paid the full amount ) I mean you could ask, but even if Lowell remove their reports, the reports from the original creditor may still show and you'd have to try and get them to remove it too .... Lowell will have bought the debt from them for something under 20% of the debt, so settling in full for not a lot of gain seems a bit of a waste I'm afraid as if it wasn't removed entirely it would still show a settled for the 6 years from the date it defaulted... do you know when that was?

Your other option is to report it as ID theft/fraud but that could get very messy and difficult to deal with.

James from Experian gives some thoughts on this article http://www.thisismoney.co.uk/money/e...wledge-do.html and the preceeding view is that having made some payments already indicates you accept liability for the debt.

CIFAS protection might be an idea if you have any concerns she might open other accounts in your name.

Is it really true that settled and partially settled will have the same impact on my credit file?

surely if you were going to lend money to someone you would take this sort of thing into consideration?

Thanks