Problem regarding Lovell.

[Gilltheblackcat]

Hi, I am an ex compass victim, and as such have had to wrestle some control of my affairs back.

So I have got my Experian report and have noticed something bizarre, and wondering what it might mean.
Lovell have just (end of feb) started to write to me about £1707 owing on a Barclays current account overdraft. This has been owing for at least 5 1/2 years, and I am fairly sure I personally have made no acknowledgment of the debt since entering my DMP with compass...., though it is real and i cant in conscience deny it. I think I know compass have paid nothing for this time, as when they rang me November time they were unable to find who to pay, and it didn't show on the statements over the years.

Anyway long story short, It has gone from a big row of red triangles and default balance £1707 to balance =0 still with red triangles this week.

What are the implications of the £1707 to £0? Does it mean I owe nothing and compass actually did pay something prior to the liquidation?

I am wary of approaching Lovell now as the balance has gone to zero, because I don't want it to shoot up again!

I have posted this here as it is not really related to Compass in the sense of their liquidation.

[Gilltheblackcat]

Re: Problem regarding Lovell.

I think I worked a few bits out. The date it went to zero appears to be in 2013, as that is the updated date, would that be correct?

Thus that means when it was sold on, I seem to remember this went through Sigma red amongst others, maybe RMA, but all paperwork was sent to compass.

Since the amount has not decreased, is it worth holding on for it to be statute barred? I have heard that Lovell are particularly nasty when it comes to rapid CCJ applications at the end of statute barring time.

Or do I contact them with a repayment plan, or should I offer them a Full and Final, I reckon I could probably afford £555.

I don’t think a CCA applies here with it being an overdraft, is that correct?

Any help will be gratefully received.

[EXC]

Re: Problem regarding Lovell.

I've tagged [MENTION=6]Amethyst[/MENTION] or [MENTION=55034]nemesis45[/MENTION] who should be able to help when they can.

[nemesis45]

Re: Problem regarding Lovell.

Hi, I am an ex compass victim, and as such have had to wrestle some control of my affairs back.

So I have got my Experian report and have noticed something bizarre, and wondering what it might mean.
Lovell have just (end of feb) started to write to me about £1707 owing on a Barclays current account overdraft. This has been owing for at least 5 1/2 years, and I am fairly sure I personally have made no acknowledgment of the debt since entering my DMP with compass...., though it is real and i cant in conscience deny it. I think I know compass have paid nothing for this time, as when they rang me November time they were unable to find who to pay, and it didn't show on the statements over the years.

Anyway long story short, It has gone from a big row of red triangles and default balance £1707 to balance =0 still with red triangles this week.

What are the implications of the £1707 to £0? Does it mean I owe nothing and compass actually did pay something prior to the liquidation?

I am wary of approaching Lovell now as the balance has gone to zero, because I don't want it to shoot up again!

I have posted this here as it is not really related to Compass in the sense of their liquidation.

Good morning Gill,

I suspect Lowell may have sold the debt hence the zero balance,.

I've seen 3-4 similar situations recently. Expect contact from another company in due course.

nem

[Wingco]

Re: Problem regarding Lovell.

I think I worked a few bits out. The date it went to zero appears to be in 2013, as that is the updated date, would that be correct?

Thus that means when it was sold on, I seem to remember this went through Sigma red amongst others, maybe RMA, but all paperwork was sent to compass.

Since the amount has not decreased, is it worth holding on for it to be statute barred? I have heard that Lovell are particularly nasty when it comes to rapid CCJ applications at the end of statute barring time.

Or do I contact them with a repayment plan, or should I offer them a Full and Final, I reckon I could probably afford £555.

I don’t think a CCA applies here with it being an overdraft, is that correct?

Any help will be gratefully received.

That sounds fairly typical - they wait until near the end of the Statute Barred (SB) 6 years which prevents it being SB'd. I wouldn't offer the £555. Wait to see what happens. If it's Sigma Red, you probably won't get a reply. I've asked for a F&FS figure since they have not replied to my requests on time, and heard nothing. Don't jump the gun - they probably paid considerably less than £200 for your overdraft debt, particularly as it has been sold on more than once; they may well settle for less than £400. Wait and see.
The usual principles apply. Only write to them. Don't talk to them on the phone, insist they only correspond in writing, and if you get too many phone calls tell them you will report them. Send everything by recorded delivery, and keep good file copies and records.
Enjoy the game!:goodjob:Wingco

[Wingco]

Re: Problem regarding Lovell.

Amethyst - the clock on the website appears to be an hour out. wingco

[nemesis45]

Re: Problem regarding Lovell.

Amethyst - the clock on the website appears to be an hour out. wingco

Correct here 1136hrs.

nem

[MIKE770]

Re: Problem regarding Lovell.

@CYNthesys - Sygma Red knowledge

- - - Updated - - -

correct here 11.40

[Wingco]

Re: Problem regarding Lovell.

Correct here 1136hrs.

nem

Your post shows it was made at 10:37 on my post! And this post shows it was made at 10:47 before you posted!

[Wingco]

Re: Problem regarding Lovell.

@CYNthesys - Sygma Red knowledge

- - - Updated - - -

correct here 11.40

must be specific to my laptop - Mike, your post shows it was made at 10:40?

[Gilltheblackcat]

Re: Problem regarding Lovell.

Clock on mobile site is GMT so it seems.
It's not with sygma now I don't think. Funny thing was I got a glut of letters from Lovell saying we want to understand why this debt has gone unpaid etc, about the time compass went or where going under so I assumed that it was connected, but seeing penny 0 has been paid I don't think it is.

[Amethyst]

Re: Problem regarding Lovell.

Amethyst - the clock on the website appears to be an hour out. wingco

Just checked your settings and your DST wasn't automatically detected - probably loads of peeps like that too. One of the great mysteries of the Vbulletin set up panels.... lol. Is it right now?

[Wingco]

Re: Problem regarding Lovell.

Clock on mobile site is GMT so it seems.
It's not with sygma now I don't think. Funny thing was I got a glut of letters from Lovell saying we want to understand why this debt has gone unpaid etc, about the time compass went or where going under so I assumed that it was connected, but seeing penny 0 has been paid I don't think it is.

Nothing would surprise me with Compass - but I doubt they paid anything they didn't need to. Sorry to ask if already covered, but was this outside your Compass DMP and why?

[Amethyst]

Re: Problem regarding Lovell.

Clock on mobile site is GMT so it seems.
It's not with sygma now I don't think. Funny thing was I got a glut of letters from Lovell saying we want to understand why this debt has gone unpaid etc, about the time compass went or where going under so I assumed that it was connected, but seeing penny 0 has been paid I don't think it is.

If Compass did nothing with that debt, and Lowell had it since Nov 2013, then it could be stat barred in 6 months or so. However if compass were paying something minimal and hadn't stopped interest on it then it might not be stat barred for another 6 years. Without having the full list from Compass of what was paid to who and when, you're not going to know so you're working in the dark a little bit.

As an overdraft then no the CCA request won't apply, but Lowell quite often will settle at 50% paid over installments - rather than take court action.

I'd say send a subject access request to the Liquidators of compass but I don't think that will yeild much useful, particularly as they seem to have undertaken some quite serious shredding ( judging by the names on the creditors list )

Do Barclays or Lowell appear at all on the 'statements' you had from Compass ?

[nemesis45]

Re: Problem regarding Lovell.

Your post shows it was made at 10:37 on my post! And this post shows it was made at 10:47 before you posted!

Seems odd no doubt [MENTION=7]Tools[/MENTION] will sort it.

nem