OLD debts now with Lowells

[hammersmalc]

Sorry if this ends up in the wrong place as its my first time on here.

Re Lowells:- i have 2 outstanding debts wich originally were HSBC. These have been passed or sold to the Lowells group. One loan is 8 years old And the credit card bill is 6 years old . Question is how long does a debt stay with you?

I have sort advice from The C A B and have been advised that Bankruptcy is probably my best way out, only draw back to that for me is where do i find the £760.00 needed to pay for this ?????

Any advice or help would be very welcome indeed as i seem to be going round in circles.:tinysmile_cry_t:

[ODC]

Re: Lowells Debt

If you have not made payments for six years then the debts are Statute Barred. If you are thinking seriously about Bankruptcy let Lowells pay for it. They will threaten it so tell them to go ahead

[Curlyben]

Re: OLD debts now with Lowells

The debts never end (unless in Scotland), but after 6 years of zero activity they become statute barred under section 5 of the Limitations Act.
The important thing here is the lack of activity either by payment or acknowledgement.

So where are you with Lowells on this ?

[debtisbad]

Re: Lowells Debt

Debts over 6 years old can be "statute barred", a legal term meaning no longer enforceable. There are some terms and conditions, such as not acknowledging the debt during this period. There is a section on this site that explains fully, I suggest you haveba serious read of it. This does not stop parasite companies such as Lowells asking for s payment, but they cannot.enforce it. So you need first to chrck your status. If you are statute barred then basically you can tell them to go forth and multiply.

[labman]

Re: OLD debts now with Lowells

If you're contemplating Bankruptcy, personally I would always advise getting a second opinion as it is such a drastic decision.

Debts become Statute Barred after 6 years without the debtor acknowledging them (5 years in Scotland).

IF bankruptcy is the right option for you, then there is always the option of stopping paying everything except your priority debts and waiting for one of your creditors to make you bankrupt. That way they have to pay the money. It is however a BIG if it's the right option. Please seek a second opinion before making any decisions.

[hammersmalc]

Re: OLD debts now with Lowells

The debts never end (unless in Scotland), but after 6 years of zero activity they become statute barred under section 5 of the Limitations Act.
The important thing here is the lack of activity either by payment or acknowledgement.

So where are you with Lowells on this ?

Ignoring them as ive done for a few years.

[Curlyben]

Re: OLD debts now with Lowells

How long have Lowells been pursuing these debts ?
ow many letters etc ?

[hammersmalc]

Re: OLD debts now with Lowells

Been chasing me for about 4 years and ive lost count how many letters. Lets put it this way they would fill a kitchen bin

[Curlyben]

Re: OLD debts now with Lowells

Well, that being the case, they wont be taking any action, simply more meaningless threats.

While not recommended approach, it would seem you are avoided them.