Lloyds Dept Settled on Equifax, Being chased by Lowell?

[crashtestmummy]

Hi all, from what I've read, you guys know your stuff and have been brilliantly constructive in these matters so I hope you can shed some light on an issue my husband is currently experiencing with Lowell Financial.

We have seen that a defaulted dept with Lloyds from 5 years ago (it'll be 6 in June 2014) has been updated as 'Settled' in July of this year and is still under Lloyds name on Equifax. However, a couple of weeks ago we had a letter through the door for Lowell along with a very generic looking letter branded as Lloyds stating that Lloyds had sold the dept to Lowell and now my husband needs to pay up. It's for just over £2k and has a completely different DOB on the report!

We have just had another letter prompted him for payment today from Lowell, threatening all forms of action they could take if he doesn't contact them.

What does anyone suggest we do in this circumstance? Can Lowell chase a dept that has been acknowledged as Settled from the original lender?

Also, we had an email from Lowell stating that they had found our email address on my husbands credit report - is this the norm? Could they use telephone numbers given on registration from a credit report?

Thank you all in advance for your advise. :tinysmile_grin_t:

[labman]

Re: Lloyds Dept Settled on Equifax, Being chased by Lowell?

The very first thing you should do is send off a CCA request. If it is marked as settled on your CRF and Lloyds have said they've sold it to Lowells, then you need to make sure everything is in order - this being the first step. Lowells have some rather unethical collection practices at the moment, involving going straight to issuing a Statutory Demand.

Here's the letter you need to send, with a £1.00 PO.

Address

Date

Dear Sir,


Re:- Account No: XXXXXXXX/Your Reference Number: XXXXXXX


This letter is a formal request pursuant to s.77/78 of the Consumer Credit Act 1974. I require you to provide me with a true copy of the credit agreement relating to the above account, together with any other documentation the Act requires you to provide.


I expect you to comply fully and properly with this request, within the statutory time limit. You are reminded that should you fail to comply with my request, the provisions of s.77 will apply.


If it is your view that you are not the creditor, s.175 of the CCA 1974 applies in the case of a simple assignment, and places a duty upon you to pass this request to the creditor. In the case of an absolute assignment, you are a creditor as defined by s.189. If you contend that you purchased the rights but not the duties of any agreement, you are reminded that s.189 of the Act is clear that an assignment is of both rights and duties.


Your attention is drawn to ss.5(2), 3(b),6 and 7 of the Consumer Protection From Unfair Trading Regulations 2008 (CPUTR). I enclose a postal order in the sum of £1.00, which is the statutory fee. Note that these funds are not to be used for any other purpose.


If you intend to send a reconstituted copy of the CCA you must declare the reason why it has been reconstituted and if the original exists and in what form (microfiche) etc.


If you are unable to comply fully and properly with this request, you should confirm this in writing at the earliest opportunity, and certainly within the statutory time limit for compliance, and return the fee.


I look forward to hearing from you.


Yours faithfully,


[IMG]file:///C:\Users\Home\AppData\Local\Temp\msohtmlclip1\01\c lip_image001.jpg[/IMG]

Print Name


In the gobbledegook about 'Print Name' I usually insert the attached before signing to stop the signature being lifted.

[PlanB]

Re: Lloyds Dept Settled on Equifax, Being chased by Lowell?

We have seen that a defaulted dept with Lloyds from 5 years ago (it'll be 6 in June 2014) has been updated as 'Settled' in July of this year and is still under Lloyds name on Equifax. However, a couple of weeks ago we had a letter through the door for Lowell along with a very generic looking letter branded as Lloyds stating that Lloyds had sold the dept to Lowell and now my husband needs to pay up. It's for just over £2k and has a completely different DOB on the report!

We have just had another letter prompted him for payment today from Lowell, threatening all forms of action they could take if he doesn't contact them.

What does anyone suggest we do in this circumstance? Can Lowell chase a dept that has been acknowledged as Settled from the original lender?

Some quick questions to understand this better:

Why do you think the account is marked settled? Did you make them a F&F offer at a discounted amount? Sometimes a creditor can mark an account settled and then sell on the balance unless you've got the legal procedure of a F&F absolutely watertight.

Another possibility is that if Lloyds sold on the debt they can mark your account as closed (or even settled) on a CRA file because as far as they're concerned it is closed. Then you will see the new owner registering your account details. Is there an entry under Lowell yet? Information on CRA files typically takes six weeks minimum to update so if it was sold recently the true situation may not be reflected yet.

But what has caught my eye is you say you had a letter through the door from Lowells not a letter in the post. Was this a hand-delivered letter?

Was this £2k+ debt from a credit card or from a bank overdraft? What happens next may depend on your answer to this question.

Finally you say it was defaulted in 2009 but when did you last make a payment on this account? That matters if you are looking at the hope of the debt being statute barred next year.

[crashtestmummy]

Re: Lloyds Dept Settled on Equifax, Being chased by Lowell?

PlanB and Iabman, thank you for your swift replies, much appreciated.

To answer PlanB's questions - the 'Settled' status is marked on the Equifax credit report, this is where I got the information from. The title of the account is as a Lloyds Current account, so I imagine this would refer to an Overdraft.

The default was added in June 2009, no payments made since this.

The letter was Royal Mail posted, not hand delivered.

In addition to the incorrect DOB on this entry in the report, it is also under a linked address that I've never heard of. My husband is away at the moment so I will have to clarify with him, but I'm getting the feeling that this account does not belong to him! If this is indeed the case what on earth should we do!?

Urgh, this is awful.

Thank you for your ongoing help.

[labman]

Re: Lloyds Dept Settled on Equifax, Being chased by Lowell?

If it is nothing to do with either of you, then you have nothing to worry about. You'd be surprised how often this happens. Best to get the letter sent off just in case, then try not to worry till hubby returns.

[FlamingParrot]

Re: Lloyds Dept Settled on Equifax, Being chased by Lowell?

If it is nothing to do with either of you, then you have nothing to worry about. You'd be surprised how often this happens. Best to get the letter sent off just in case, then try not to worry till hubby returns.

PlanB and Iabman, thank you for your swift replies, much appreciated.

To answer PlanB's questions - the 'Settled' status is marked on the Equifax credit report, this is where I got the information from. The title of the account is as a Lloyds Current account, so I imagine this would refer to an Overdraft.

The default was added in June 2009, no payments made since this.

The letter was Royal Mail posted, not hand delivered.

It would be good if we could take a look at the letter, regardless of how it was delivered, just to make sure it's not a SD or a LBA, we're dealing with Lowell here. Could you scan or take a picture of the letter and post it here? :typing:

[labman]

Re: Lloyds Dept Settled on Equifax, Being chased by Lowell?

I stand by what I said about getting the CCA letter sent off just in case. Nobody wants unnecessary worry, and knowing you're doing something just in case will ease your mind I imagine.

[PlanB]

Re: Lloyds Dept Settled on Equifax, Being chased by Lowell?

The title of the account is as a Lloyds Current account, so I imagine this would refer to an Overdraft.

. . . . In addition to the incorrect DOB on this entry in the report, it is also under a linked address that I've never heard of.

Since you say this alleged debt is a current account overdraft and not a credit card debt, that section 77/78 letter may not be appropriate. Under the circumstances wouldn't a 'prove it' letter be better :noidea:

The s.77/78 letter may cause some confusion and delay now (which can be a good thing) but you wouldn't be able to rely on non-compliance with s.78 as a Defence if this went to court.

[crashtestmummy]

Re: Lloyds Dept Settled on Equifax, Being chased by Lowell?

Thank you, Flaming Parrot.

I have scanned and attached the letter as requested. This is the second and last one that we have received. I have taken off all of the private bumf as I'm not sure who lurks! But all of the Lowell content is there.

Your advise is much appreciated.

[PlanB]

Re: Lloyds Dept Settled on Equifax, Being chased by Lowell?

Lowell along with a very generic looking letter branded as Lloyds stating that Lloyds had sold the dept to Lowell and now my husband needs to pay up. It's for just over £2k and has a completely different DOB on the report!

We have just had another letter prompted him for payment today from Lowell, threatening all forms of action they could take if he doesn't contact them.

^^^^ is this a joint account or an account in your husband's sole name which is why they are chasing him? If the debt is in his name you can't send any letters to Lowells on his behalf.

[crashtestmummy]

Re: Lloyds Dept Settled on Equifax, Being chased by Lowell?

This is an account that seems to have my husbands name on it only. But as I said before, I'm sceptical that this is even really his.

I wouldn't send a letter pretending to be him, I will wait until he's back.

Thank you.

[PlanB]

Re: Lloyds Dept Settled on Equifax, Being chased by Lowell?

My husband is away at the moment so I will have to clarify with him.

If you say this account belongs to your husband then you'll have no option but to wait until he gets home for him to deal with it. How long will he be away and can you talk to him on the phone in the meantime hone:

I hope you can shed some light on an issue my husband is currently experiencing with Lowell Financial.

[FlamingParrot]

Re: Lloyds Dept Settled on Equifax, Being chased by Lowell?

I stand by what I said about getting the CCA letter sent off just in case. Nobody wants unnecessary worry, and knowing you're doing something just in case will ease your mind I imagine.

Since you say this alleged debt is a current account overdraft and not a credit card debt, that section 77/78 letter may not be appropriate. Under the circumstances wouldn't a 'prove it' letter be better :noidea:

They may either reply saying s.78 does not apply to overdrafts, or just ignore the request and carry on regardless. I doubt it would achieve much.

The s.77/78 letter may cause some confusion and delay now (which can be a good thing) but you wouldn't be able to rely on non-compliance with s.78 as a Defence if this went to court.

Wouldn't it be better to send the O/D information letter to achieve this? :noidea:

I meant this one: http://www.legalbeagles.info/forums/...328#post312328

[PlanB]

Re: Lloyds Dept Settled on Equifax, Being chased by Lowell?

This is an account that seems to have my husbands name on it only. But as I said before, I'm sceptical that this is even really his.

I wouldn't send a letter pretending to be him, I will wait until he's back.

Our posts crossed. And you've made the right decision as long as he's not going to be away more than a week or so

[PlanB]

Re: Lloyds Dept Settled on Equifax, Being chased by Lowell?

They may either reply saying s.78 does not apply to overdrafts, or just ignore the request and carry on regardless. I doubt it would achieve much.

Wouldn't it be better to send the O/D information letter to achieve this? :noidea:

I agree. Where is the O/D information letter which the OP's husband can send when he returns home. I have no idea where to start looking for that :doggieyes: