Lowell financial ltd

[Guest]

I had 2 loans with Hitachi loans and had personal test carried out by debt management company and had my monthly repayment was reduced which I was paying to Hitachi Loans. But they sold the loan to Lowell without notifying me nor lowell informed that the loan was bought by them and the payment now on should be made to Lowell's and not to Hitachi Loans . However the lowell register that I had missed 3 payments even though I had been paying to my original loan company . Now that had dropped my credit score by 500 points and seriously affected my credit and no body can touch by requests for a loan or credit card .lowell has admitted that they have made this mistake and confirmed that that they are getting payments via hitachi so I have not missed the payments . I want to know what are the points i should raised to lowell to cover myself and restore my credit score ? Why long will that take before the score will say very good on my credit file ?? Please all experts please advise???

[Amethyst]

If you have entered a debt management plan and are making payments lower than your contractual amount then it will reflect on your credit file. Your debt management company should have explained the consequences to you.*

If it was an amount only slightly lower and hitachi agreed with the change it could have been marked an arrangement to pay but if hitachi sold the debt then it is likely they didn't agree to the reduced payment, the account defaulted and it was sold to Lowell. Yes they should have informed you and before doing so should have sent you a default notice. *

Who is your debt management company ? Do you make payments to them or direct to hitachi ? And have you given them third party authority on your accounts ( are hitachi writing to them rather than you ?)*