Statutory-Demand - WON!!!!

[CleverClogs]

Re: Statutory-Demand - WON!!!!

Lowell is collecting 100 million per annum

That's obscene.

Firms such as Bowells operate like a sort of reverse Robin Hood - they take from the poor and give to the rich.

[Celestine]

Re: Statutory-Demand - WON!!!!

The whole system is obscene - especially debt purchase.

Your original creditor such as Lloyds, may harass you half heartedly for a couple of years, setting up to 10 different DCA's to harass and pursue you. I wouldn't mind if Lloyds accepted reasonable repayment plans or F&F offers which are fair.

But after a while, they sell the debt to a 3rd party debt purchaser such as Lowell; for a tiny sum; which enables them to then offset that loss against profits in other areas of their business.

Lowell pay pennies in the pound for the debt but gain the power to bankrupt you and issue court claims.

Thankfully, when they use statutory demands, I only have to find a small flaw to halt the whole process, but there is no denying the stress and harm the whole system causes.