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Hi All,
I am new to this and I hope someone can help me as I am worried about the possible outcomes to this. On the 10/07/2013 I received a letter of assignment from lloyds notifying me that they had sold the debt of my current account/overdraft to Lowell Portfolio Ltd. On the 08/07/2013 I received a letter from Lowell financial telling me that they had purchased the debt and to contact them. I have received a further three letters from them. After going on various forums and reading numerous horror stories the general consensus was do not contact them. So to date I havnt but I am concerned that I maybe making the situation worse and also on discovering your site and reading various posts including cases where they actively push for bankruptcy, something that would have a catastrophic effect on me as I am self employed in the construction industry. I need to know what is my best course of action to take.
A BRIEF HISTORY ABOUT THE DEBT
The debt is regarding my current account with lloyds/tsb. The account was closed by the bank in November 2009. At the time of closure the account was £5166.36 OD with a £4000.00 planned overdraft and a unplanned overdrawn balance of £1166.36. There are numerous bank charges associated with this balance and I still have all my statements to hand. They issued an enforcement notice served under section76(1) of the CCA which again I have to hand. Before selling this on to Lovells they have sent this debt out to for collection to various DCA's but I put in a CCA request to one of them and they responded with current account/ overdrafts don't come under CCA. My argument with them was if that's the case then why issue an enforcement notice using the CCA act. This seamed to stop the DCA's
Obviously, it looks like Lovells are a different set up. Can I dispute amount owed because of charges. In their last letter they advised me that they had carried out a credit check on me and are aware that I own 2 houses. Any ideas as to what their course of action may be. The lloyds bank account was never registered at my current address, does that have any bearing?
Sorry for long post but need to get advice. Many thanks
I am new to this and I hope someone can help me as I am worried about the possible outcomes to this. On the 10/07/2013 I received a letter of assignment from lloyds notifying me that they had sold the debt of my current account/overdraft to Lowell Portfolio Ltd. On the 08/07/2013 I received a letter from Lowell financial telling me that they had purchased the debt and to contact them. I have received a further three letters from them. After going on various forums and reading numerous horror stories the general consensus was do not contact them. So to date I havnt but I am concerned that I maybe making the situation worse and also on discovering your site and reading various posts including cases where they actively push for bankruptcy, something that would have a catastrophic effect on me as I am self employed in the construction industry. I need to know what is my best course of action to take.
A BRIEF HISTORY ABOUT THE DEBT
The debt is regarding my current account with lloyds/tsb. The account was closed by the bank in November 2009. At the time of closure the account was £5166.36 OD with a £4000.00 planned overdraft and a unplanned overdrawn balance of £1166.36. There are numerous bank charges associated with this balance and I still have all my statements to hand. They issued an enforcement notice served under section76(1) of the CCA which again I have to hand. Before selling this on to Lovells they have sent this debt out to for collection to various DCA's but I put in a CCA request to one of them and they responded with current account/ overdrafts don't come under CCA. My argument with them was if that's the case then why issue an enforcement notice using the CCA act. This seamed to stop the DCA's
Obviously, it looks like Lovells are a different set up. Can I dispute amount owed because of charges. In their last letter they advised me that they had carried out a credit check on me and are aware that I own 2 houses. Any ideas as to what their course of action may be. The lloyds bank account was never registered at my current address, does that have any bearing?
Sorry for long post but need to get advice. Many thanks
)
The insolvency route (where they issue a SD) is very different from the CCJ route. If they were to issue a SD, you'd have to apply for it to be set aside and merely showing you made a pro-rata repayment offer may not be enough grounds for set aside. 
However, knowing Lowell, there may be other grounds. Celestine, the site owner, has an excellent track record :yo: setting aside SDs, mostly issued by Lowell. :grin:
:clock: If you have made no payments since 2009, then making a repayment offer WOULD restart the clock, which is why 
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