Lowells offer for shop direct debt

[joedempsey]

Hi all
just a quick one we was currently taking shop direct to court over excessive interest and charges.
To cut it short just had a letter from lowells offering to reduce the debt by £800 which basically ilminates the charges if we pay in full or agree a payment plan.
we would like to take the offer up but we can only afford a payment plan.
How is the best way to get lowells to confirm the new amount without going back on their word once we agree a payment plan.
i have heard some horror stories just to get you paying.

any help would be appreciated.

regards

Joe

[Amethyst]

Re: Lowells offer for shop direct debt

If the case I in the court, then you can get them to agree under a Tomlin Order, which basicaly means you agree the terms of settlement and you have the case on hold in court in case they break their side of the deal.

So you'd agree to stay the case (with liberty to restore)and pay xxxx a month, and they agree to stop adding charges and interest, to accept xxx a month over xxx months to discharge the debt, and that agreement is lodged with the court.

[Kafka]

Re: Lowells offer for shop direct debt

Its not clear why Lowells made the offer if it is still owned by Shop Direct?

[joedempsey]

Re: Lowells offer for shop direct debt

No it's not got to court with shop direct we have only just received our SAR request from them.
the debt was sold to lowells last October and they put it on hold till we received our SAR request.
We just want lowells to keep to their word and reduce the amount so then we can arrange a payment with them.
Regards

[Amethyst]

Re: Lowells offer for shop direct debt

Presumably (I really shouldn't assume sorry) Lowell own the debt. Not sure who OP took to court, need more info on that, but the q. Was How to ensure the offer of a 800 discount was set in stone.

[Amethyst]

Re: Lowells offer for shop direct debt

No it's not got to court with shop direct we have only just received our SAR request from them.
the debt was sold to lowells last October and they put it on hold till we received our SAR request.
We just want lowells to keep to their word and reduce the amount so then we can arrange a payment with them.
Regards

Ok, less complicated then. JUST ENSURE anything is in writing. Is 800 enough discount to cover the excessive interest and charges you were going to take shop direct to court over? Remember Lowell paid something like ten percent for the debt

[joedempsey]

Re: Lowells offer for shop direct debt

Yes we are quite happy to get the amount set in stone with lowells.
then we know how much the total debt is.
dont want to arrange a payment with them, then 6 months down the line after receiving a statement the original amount is still there.
Yes it's owned by lowells now.

regards

[joedempsey]

Re: Lowells offer for shop direct debt

We think its properly around £1100 on charges do you think lowells would go lower even if we paid by instalments?

regards

[Kati]

Re: Lowells offer for shop direct debt

We think its properly around £1100 on charges do you think lowells would go lower even if we paid by instalments?

regards

You can always ask them. As Amethyst said, Lowewlls have probably only paid about 10% to buy it in the first place, so you make a low offer, they'll make a high one and you can probably meet somewhere in the middle. :tinysmile_twink_t2: