**WON!!** Lowell Portfolio 1 Ltd vs. sergeybubka

[sergeybubka]

Hi all. I've been reading through a few threads on the forum and there seems to be loads of great advice offered, so I thought I'd share my case with you in the hope that you can offer me some.

I have noticed that you have a set template for new court claim threads, but I'm not sure my case has reached that point yet.

I received a 'letter of claim' from BW legal yesterday (17/06/16), stating that they have 'been instructed by Lowell Portfolio 1 to commence legal action and issue a claim against you (me) in the County Court in respect to the above debt.

If payment or a response is not received before 1 July 2016, we will issue a Claim against you in the County Court without further notice...'

Not sure if this is relevant, but the original account number on the letter is just made up of the sort code for the bank followed by eight zeros rather than my account number.

The original creditor is Lloyds, and the debt amount is approx. £2,750 + a potential £300 legal fees.

The debt is made up of a student account overdraft of £2500 with Halifax, opened in 2007 + approx £250 bank charges.

A bit of background on the debt - I was struggling with a few issues and was unemployed for a while after leaving university and was unable to reduce my overdraft sufficiently during 2010/11, and therefore, began being charged £1 a day. Following a change of their overdraft fees, I was then charged £2 a day. I managed to pay the fees each month for a time (6-12 months ish) before falling behind and then being charged £5 a day (if I remember correctly) for going over £2,500. I was not using the account at all at the time other than to pay the fees each month. The last fee payment I made was probably in early 2011, though I am not 100% sure.

What is the best course of action for me to take?

Thanks in advance.

[sergeybubka]

Re: Lowell Portfolio 1 Ltd vs. sergeybubka

Just a quick update having done some more research.

According to my credit file the account was marked as defaulted in 2013. To be honest, I can't remember whether I last paid the charges on the account this late, it's possible I was still paying the charges in 2013.

I am not looking to avoid paying the debt owed, though I do believe the amount I have paid in fees was excessive at the time. I know I should have tackled the problem in the first place rather than burying me head in the sand.

My girlfriend and I are expecting a baby at the end of the year and I want to tackle the default in the best way to improve my credit file. I would be willing to pay off a lump sum approaching £2k given the original debt minus fees, which my savings would just about cover, although obviously if I could settle for less that would be preferable.

Should I offer a full and final settlement? I have read that Lowell aren't particularly receptive to offers. Or should I try and find out more about their case in the hope of improving my bargaining position?

Sorry if my posts are a bit all over the place, I'm just unsure of the best approach.

[Kati]

Re: Lowell Portfolio 1 Ltd vs. sergeybubka

I'll tag [MENTION=55034]nemesis45[/MENTION] for you xx

[sergeybubka]

Re: Lowell Portfolio 1 Ltd vs. sergeybubka

[MENTION=49370]Kati[/MENTION] Thank you x

[nemesis45]

Re: Lowell Portfolio 1 Ltd vs. sergeybubka

@Kati Thank you x

Good morning.

A full and final settlement has to be carefully negotiated in both the amount offered and the terms of the offer.

Apart from the above BW/Legal are in the habit of sending "letters before claim" with an arbitrary time I which to respond but they issue claims almost immediately after the letter has been sent so watch out for a claim in the post at anytime.

What would you intend to say in defence bearing in mind that Lowell is not interested in a dispute with the original creditor as they have bought a debt with out any knowledge of the charges problem and an amount outstanding and that's what they are pursuing.
Can you please post a copy of their letter after removing all personal identifying matters.

nem

[sergeybubka]

Re: Lowell Portfolio 1 Ltd vs. sergeybubka

edit

[sergeybubka]

Re: Lowell Portfolio 1 Ltd vs. sergeybubka

Hi [MENTION=55034]nemesis45[/MENTION], thanks for your response.

I couldn't get the image of the letter uploaded, so had to attach it instead, hope that's OK.

I understand Lowell have purchased the debt and have no interested in the charges I've paid previously, that was just a bit of background.

In terms of a defence, given I admit to a debt, I haven't really got one. As you said, my dispute over the amount isn't relevant to Lowell. I suppose what I'm trying to work out is, what the best way of going about getting the best settlement for myself, both in terms of my credit file, as well as the amount I have to pay in settlement. As I said, maybe this is the wrong subforum for my case.

Having said that, all Lowell have supplied me with, is a figure somewhere around the amount I'd expect to owe given the bank charges at the time. There is no account number, nor any other indication or proof that this is my debt. Should I not request some more information at the very least?

Given it was a bank account / overdraft debt, I expect they have a fair bit to back up their case. Is that a fair assumption? They did offer a negotiated settlement a few months back, which in hindsight should have pushed me into negotiating, but to be honest I wanted to wait until I was in a better financial position. It does suggest that there is room for a settlement though, or would their position have now changed given the latest letter?

Apologies if my response is a bit muddled. What do you think is my best bet? Should I contact them before 1st July to avoid the LOC (unless it has already been posted) acknowledging the letter?

Thanks

[nemesis45]

Re: Lowell Portfolio 1 Ltd vs. sergeybubka

Hi @nemesis45, thanks for your response.

I couldn't get the image of the letter uploaded, so had to attach it instead, hope that's OK.

I understand Lowell have purchased the debt and have no interested in the charges I've paid previously, that was just a bit of background.

In terms of a defence, given I admit to a debt, I haven't really got one. As you said, my dispute over the amount isn't relevant to Lowell. I suppose what I'm trying to work out is, what the best way of going about getting the best settlement for myself, both in terms of my credit file, as well as the amount I have to pay in settlement. As I said, maybe this is the wrong subforum for my case.

Having said that, all Lowell have supplied me with, is a figure somewhere around the amount I'd expect to owe given the bank charges at the time. There is no account number, nor any other indication or proof that this is my debt. Should I not request some more information at the very least?

Given it was a bank account / overdraft debt, I expect they have a fair bit to back up their case. Is that a fair assumption? They did offer a negotiated settlement a few months back, which in hindsight should have pushed me into negotiating, but to be honest I wanted to wait until I was in a better financial position. It does suggest that there is room for a settlement though, or would their position have now changed given the latest letter?

Apologies if my response is a bit muddled. What do you think is my best bet? Should I contact them before 1st July to avoid the LOC (unless it has already been posted) acknowledging the letter?

Thanks

Hi
With the student account was this just a current account + an overdraft or was there any form of CCA 1974 regulated credit involved e.g. a credit card or loan account.

A " prove " it letter is what is needed.

nem

nem

[sergeybubka]

Re: Lowell Portfolio 1 Ltd vs. sergeybubka

Hi Nem,

Not as far as I'm aware, although I could be wrong, it must be 9 years now since I opened it. It was a specific student account, though I presume that still counts as a current account?

Thanks. Should I send the letter to Lowell or BW or both?

[nemesis45]

Re: Lowell Portfolio 1 Ltd vs. sergeybubka

Hi Nem,

Not as far as I'm aware, although I could be wrong, it must be 9 years now since I opened it. It was a specific student account, though I presume that still counts as a current account?

Thanks. Should I send the letter to Lowell or BW or both?

Write to BW stating that you don't acknowledge any liability for the alleged debt and request documentary proof of the debt.

If you need assistance with the letter let me know and I'll help with a draft.

nem

[sergeybubka]

Re: Lowell Portfolio 1 Ltd vs. sergeybubka

Hi [MENTION=1937]nemisis[/MENTION]45,

Unsurprisingly, BW have ignored my letter asking for proof of the debt and have proceeded with the County Court Claim. I have been away and only came back to the news yesterday, which has got me a bit stressed to say the least!

I received a 'Notice of County Court Claim Issued' letter dated 5th July, and a 'Notice of Pending County Court Judgement' dated 11th July.

The date of service of the Claim is 9th July, so I only have a few days to acknowledge. I have not done so immediately as I am unsure on how to proceed. Given I have still not received any documentary proof, should I defend all of the claim?

The particulars of the claim are as follows:

1. The Claimant's Claim is for the sum of £2,750 (approx.) being monies due from the Defendant to the claimant under a Loans, Financial Services, Overdrafts, Credit agreement regulated by the Consumer Credit Act 1974 between the Defendant and Lloyds Banking Group PLC under account reference xxxxxx00000000 and assigned to the Claimant on 34/11/2015 notice of which has been give to the Defendant.

2. The Defendant failed to maintain the contractual payment under the terms of the agreement and a default service has been served and not complied with.

3. The claim also includes a statutory interest pursuant to section 69 of the County Courts Act 1984 at a rate of 8% p/a...

Any advice on my best course of action? Should I acknowledge with intent to defend all until I receive documentary proof? Is it worth contacting BW and trying to agree a settlement amicably (unlikely I'd imagine)?

Thanks

SB

[Stu]

Re: Lowell Portfolio 1 Ltd vs. sergeybubka

Hi first things first you must acknowledge via MCOL online asap just to give you breathing space and time for Nem to respond the site has been down today not sure if it's back up and running, also in the meantime get a CPR request send out to BWLegal...

[sergeybubka]

Re: Lowell Portfolio 1 Ltd vs. sergeybubka

Thanks Stu, didn't know about the site problems. I'll send off the CPR request tomorrow. I was about to acknowledge online but I'm not sure whether I should intend to defend the whole claim or part of the claim at this stage. I suppose it should be the whole claim until I have received some evidence from BW?

[charitynjw]

Re: Lowell Portfolio 1 Ltd vs. sergeybubka

IMHO

Also send a CCA request to the Claimant (not to BW)..........See the green template, top of this thread.
£1 fee (PO is good) & don't forget proof of postage.

Although they have stated in the PoC that it is a regulated agreement, they do not seem to know what type of agreement, so a request via ss77-79 CCA 1974 should cover all bases.

& yes, for the time being defend all.

[nemesis45]

Re: Lowell Portfolio 1 Ltd vs. sergeybubka

Hi @nemisis45,

Unsurprisingly, BW have ignored my letter asking for proof of the debt and have proceeded with the County Court Claim. I have been away and only came back to the news yesterday, which has got me a bit stressed to say the least!

I received a 'Notice of County Court Claim Issued' letter dated 5th July, and a 'Notice of Pending County Court Judgement' dated 11th July.

The date of service of the Claim is 9th July, so I only have a few days to acknowledge. I have not done so immediately as I am unsure on how to proceed. Given I have still not received any documentary proof, should I defend all of the claim?

The particulars of the claim are as follows:

1. The Claimant's Claim is for the sum of £2,750 (approx.) being monies due from the Defendant to the claimant under a Loans, Financial Services, Overdrafts, Credit agreement regulated by the Consumer Credit Act 1974 between the Defendant and Lloyds Banking Group PLC under account reference xxxxxx00000000 and assigned to the Claimant on 34/11/2015 notice of which has been give to the Defendant.

2. The Defendant failed to maintain the contractual payment under the terms of the agreement and a default service has been served and not complied with.

3. The claim also includes a statutory interest pursuant to section 69 of the County Courts Act 1984 at a rate of 8% p/a...

Any advice on my best course of action? Should I acknowledge with intent to defend all until I receive documentary proof? Is it worth contacting BW and trying to agree a settlement amicably (unlikely I'd imagine)?

Thanks

SB

HI SB acknowledge online at MCOL and state intention to defend in full do not write anything in defence yet. Get this done Now.

nem