Another Lowell thread, i need some help please.

[clueless1984]

Hi all,

I will try to keep this simple because i am a financially clueless and i need some help and advice.

i basically recieved a letter from Lowells a few months ago for an old apparent Lloyds debt.i know i had an account with them but as fat as i knew i was not in debt.

the amount is for £1,123.74 for an over draft on a current acciu t which was closed in july 2009. I have no bank statements or original copies of terms conditions etc, im not sure if i signed a credit act or anything.

I called lowell and explained i had no knowledge of a debt and was not accepting their claim nor would i be making any payments to them for a debt i had no knowledge of. I demanded they send me proof of debt and proof they bought the so called debt.i also said that my experian report shows no sign of this debt.

yesterday i got resonse.

They sent through statements the most recent is jul 2009. They say the nil balance is because 'it relates to when Lloyds removed this account from their system in preperation for sale. This does not mean any payment was recieved against that account.'

They also said they didnt need to supply a copy of the agreement as this is exempt for current acviunts under section 74b of the CCA 1974.

Now i have breifly explained the situation my question is this: how do i proceed? Im so financially cluless i cant even read the statements they have sent to me to see when the last payment was paid etc. Is it worth asking lloyds for one of these SAR things i have seen people mention.

Ive been researching all morning but its all confusing me.

thanks for any advice you can give. Xx

[Amethyst]

Re: Another Lowell thread, i need some help please.

Hi Clueless, You sound like you have done okay Lowell are correct that an account balance is zero'd when it is sold on, was the balance prior to it being sold on similar to the figure they are claiming?

They are also right that a cca request for an agreement doesn't apply to an overdraft facility on bank accounts.

Do you remember anything about having an overdraft/current account with Lloyds? On the statements they sent does it show how that last balance was arrived at ... ie. Is there a big period where just charges are being applied, or is there spending on the account? If you want you can photograph or scan the statements, take off personal details and upload the last few and we can try figure it out.

Am I right in thinking they haven't issued a court claim against you as yet?

[clueless1984]

Re: Another Lowell thread, i need some help please.

Thanks for replying Amethyst

Yes the amount is similar on the other statements shown. Its not like a usual statement that shows the spending it just shows the overdraft interest and then the balance which increases with these charges.
I do know i had an account with lloyds but do not remember an overdraft like this this. I wish i had kept all correspondance now. I do remember paying a large sum in cash into a lloyds acvount as my mum gave me some to help pay something off but i cant remember if it was this or if i had a credit card and it was that i paid off. Maybe it is worth getting an SAR?

I just find it frustrating this is the first i know about it and its from Lowell.

The last letter said i have 7 days to pay or they will instruct their solicitor to commence legal action.

If the CCA doesnt apply to current accounts would i just be agreeing to common law? (Something i read, not sure what it means).

Thanks

xx

[Amethyst]

Re: Another Lowell thread, i need some help please.

Possibly because there wasn't spending, and you left the account when you thought it was paid off and its grown through just charges over the last few years. could be worth giving Lloyds a ring to ask them about the account and to refund the charges, otherwise yes a SAR is a good idea, but takes 40 days to come back. As the letter is an LBA we should respond to it asking for more info, any chance you can post up a couple pf the statement/transaction list pages?

[clueless1984]

Re: Another Lowell thread, i need some help please.

Hi,

Ive attached a picture of one, do you want to see them all? X

[Amethyst]

Re: Another Lowell thread, i need some help please.

Ta, no, but the one before that one would be good if U can xx
That shows the transfer to debt recovery in July 09 so it did have a £1kplus balance at that point.
How much did your mum lend you do you remember?

[clueless1984]

Re: Another Lowell thread, i need some help please.

Heres a couple more.

I dont and neither does she im sure my OD wouldnt have been more than £500.
.x

[Amethyst]

Re: Another Lowell thread, i need some help please.

Can you see back to where the last actual use of the account was ?

[clueless1984]

Re: Another Lowell thread, i need some help please.

No, this is all they sent me going back to may 2009 but none show account usage or payments going in.

[Amethyst]

Re: Another Lowell thread, i need some help please.

Well that's no blooming help. Yes, send a SAR off to Lloyds for full transaction lists then, but also give them a ring as they might be able to just tell you when you last used the account and how it has built up. Do you have nay idea when you stopped using the account?

[clueless1984]

Re: Another Lowell thread, i need some help please.

Okay i will do.

In the meantime should i contact Lowell and say im getging an SAR?

Thanks so much for your help x

[clueless1984]

Re: Another Lowell thread, i need some help please.

Hi,

So i wrote back and basically said the information they sent me wasnt exactly what i had requested.

I have since been into Lloyds and they showed that transactions stopped in jan 2009, this means the account is not SB right?


from having spoken to Lloyds the debt has accumulated because i was over my £500 arranged overdraft. I moved so many times at uni i didnt inform them of my address change as i wasnt using the account .

My question now is how do i proceed with lowell? Im obviously going to have to pay them back. Id rather give it to lloyds somehow than lowell.

Should i keep fighting them because they are scum bags or give in and surrender?

Xx

[Amethyst]

Re: Another Lowell thread, i need some help please.

Ouch. Well at least you know. Did you talk with Lloyds about the situation and that this is the first you knew about it and thought the account had been closed in 2009 ? You could negotiate with Lloyds to take back the debt, if you can get a list of charges applied to the account from when you stopped using it - remove those - and sort out a repayment arrangement for the actual debt plus sensible interest. Or if they aren't fussed, and they have SOLD it to Lowells for tuppence, then negotiate with Lowells for either an F&F or installment arrangement and yes it is best to do it now as they are getting a bit quick on the court claims now.

[clueless1984]

Re: Another Lowell thread, i need some help please.

Hi,
Yeah i explained that and she said i need to explain that to lowells and that they would understand. Hmmm.

What is a F&F? If i try and negotiate with them shall i just go in at a few hundred pound and go from there? Do you know if there is a standard letter template inli e i can use? Do they also decide how much i have to pay back each month?

Thanks for all of your help so far x