Lowell question

[fresh2020]

Hi everyone, I see quite a few threads have been written about Lowell accepting full and final settlement offers. In their website it says that they mark these as partially settled on credit check. Is there anything that can be done to get it marked as just satisfied?

I am trying to help my partner to sort out his debts. We previously got a full and final settlement with SLL Capital. This appears as satisfied and balance of 0 on his credit check - there is no reference to it being partial (though an amount was negotiated with them).

Not sure exactly how it works so maybe this is normal for them to just mark it as partially settled - just wondered if getting it mark as satisfied rather than partially was something we needed to try and get them to agree to.

Thanks!

[MIKE770]

only if paid in full!

[fresh2020]

Thank you Mike, one other question if you don't mind. If we pay debts that are not on the credit check even though they are from several years ago does this get them put on there? Don't think my partner's credit check can get any worse but want to avoid anything extra being put on!

[ostell]

How many is several? If more than 6 , 5 in Scotland, then they are statute barred unless they have been acknowledged or money has been paid onto the account within that period

[MIKE770]

they only get put on there after 30 days after a Default notice issued and you not complied with pay out standing, then default in eng/wales stays 6 years scotland 5 years? hope that is what you required to know?

[fresh2020]

So basically one or two are statute barred for which we are going to pay very small settlements but rest are not for a year or two. They are all owned by Lowell but were never entered onto credit check by them or the original owners of the debt. I'm just wondering if when you pay them it wakes them up or they try to report it as paid as at the moment they aren't on there. Even if they put it on as satisfied, then there will be more debts on there than there already are if that makes sense!

[MIKE770]

Statute barred. = No payment.

[MIKE770]

No record on cra file as the time limit which makes it statute barred they bought a lemon for pennies in the pound

[ostell]

If they are statute barred then no need to pay them at all IF you haven't acknowledged or paid anything.

if they are not on the report then they could have dropped off after 6 years.

[fresh2020]

Ok thanks.

It's odd because the other ones definitely aren't statute barred and still have several years to go before dropping off but still aren't on there. Cant seem to find out anything about debts that don't appear on any of the 3 credit checks!