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Hi
First time poster!
I am looking for a bit of advice on Lowell Financial Debt Collectors.
Over the last few months several letters have been posted to my parents address where I stayed for approx. 1 year after I had divorced from my wife.
At the address prior to this in around mid 2009 (not too sure on the dates) I signed for a provident loan for my Wife. I think the amount of this loan was around £800 (this was to refinance some other loans we had with them). Payments were made for a couple of months however the agent collecting the payments stopped calling after a few months and nothing was heard since. Some letters from provident followed advising that it was being defaulted however I contacted their head office to dispute this as the agent wasn't coming to our door, they advised they would arrange for the agent to come out however no one ever came and no cards were left. At the beginning of 2012 I separated from my wife and moved back to my parents until August 2013.
I have only recently picked these letters up from my parents address. The first few letters are requesting that I get in contact with them to arrange a repayment plan stating that the outstanding balance on the account is £2789 (no idea why the balance is this high, I know providents interest is high but would not imagine it would amount to this!)
One of the letters (a notice of sums in arrears which they are required to send out every 6 months) states that the agreement was October 2010 (I'm pretty sure it was a year before this).
The latest letter which is dated 24th November 2014 is offering me a 30% discount (£1952.74) as a lump sum payment or by regular instalments.
I am not sure what to do really here, I think there is a possibility that the debt might be statue barred (or close to this date - I am in Scotland) however I do not want to get in contact with them in case this resets the SB clock. This letter advises I have until 4th December 2014 to get in contact to arrange the repayment plan or the offer will cease and they will escalate this to Hamptons Legal to decide whether they should take legal action needed to recover the debt.
Not really sure what action I should take, I have read that generally these types of offers are made if they are unable to enforce the debt due to not being able to locate a copy of the original agreement or it is getting close to the SB date however I'm new to all of this and am started to worry quite a bit as there's no way I can arrange to pay this off as a lump sum and would currently really struggle to make monthly payments to this.
Any advice would be appreciated. After all this time and these letters are starting to pop up at my parents address where I have not lived for over a year I'm starting to get quite worried.
Thanks
Craig
First time poster!
I am looking for a bit of advice on Lowell Financial Debt Collectors.
Over the last few months several letters have been posted to my parents address where I stayed for approx. 1 year after I had divorced from my wife.
At the address prior to this in around mid 2009 (not too sure on the dates) I signed for a provident loan for my Wife. I think the amount of this loan was around £800 (this was to refinance some other loans we had with them). Payments were made for a couple of months however the agent collecting the payments stopped calling after a few months and nothing was heard since. Some letters from provident followed advising that it was being defaulted however I contacted their head office to dispute this as the agent wasn't coming to our door, they advised they would arrange for the agent to come out however no one ever came and no cards were left. At the beginning of 2012 I separated from my wife and moved back to my parents until August 2013.
I have only recently picked these letters up from my parents address. The first few letters are requesting that I get in contact with them to arrange a repayment plan stating that the outstanding balance on the account is £2789 (no idea why the balance is this high, I know providents interest is high but would not imagine it would amount to this!)
One of the letters (a notice of sums in arrears which they are required to send out every 6 months) states that the agreement was October 2010 (I'm pretty sure it was a year before this).
The latest letter which is dated 24th November 2014 is offering me a 30% discount (£1952.74) as a lump sum payment or by regular instalments.
I am not sure what to do really here, I think there is a possibility that the debt might be statue barred (or close to this date - I am in Scotland) however I do not want to get in contact with them in case this resets the SB clock. This letter advises I have until 4th December 2014 to get in contact to arrange the repayment plan or the offer will cease and they will escalate this to Hamptons Legal to decide whether they should take legal action needed to recover the debt.
Not really sure what action I should take, I have read that generally these types of offers are made if they are unable to enforce the debt due to not being able to locate a copy of the original agreement or it is getting close to the SB date however I'm new to all of this and am started to worry quite a bit as there's no way I can arrange to pay this off as a lump sum and would currently really struggle to make monthly payments to this.
Any advice would be appreciated. After all this time and these letters are starting to pop up at my parents address where I have not lived for over a year I'm starting to get quite worried.
Thanks
Craig
