Problem regarding Lovell.

[Noah]

Re: Problem regarding Lovell.

As it is an overdraft and assuming there is no claim against you I would be letting sleeping dogs lie.

You are right, with an overdraft there is usually no cca request although either [MENTION=3599]MIKE770[/MENTION] or [MENTION=5553]charitynjw[/MENTION] did post a link to new regulations a little while ago which means that overdrafts are no longer exempt

[Wingco]

Re: Problem regarding Lovell.

an update,

Recieved a letter two days ago from Lowell, not lovell as in title, and they would still like to understand why I have not paid the £1707.77

I am thinking that I need to make contact with them now, as to wait till December for it to be statute barred is a long time.

I still don’t understand why it shows as balance = 0 on credit report, but nothing from Lowell on there indicating they have taken it on.

Should I offer them a repayment plan, or attempt a full and final for the £555 I mentioned earlier?

Hi Gill
I would aim low if you do decide to go for Full & Final settlement (FFS). As you know, any bargaining is best done starting low as the chances are they will come back with a higher figure. If Lowells have paid anything like the normal 10% (£171) for your debt, then it would be a far cheaper option (and profitable to them) to accept £350 (20%). If they have failed to respond fully to your CCA letter, I really don't think you have anything to lose should they refuse your first offer. It is also going to cost them money to fight you in Court - it make business sense to settle before Court action.
I would also explain your financial situation to them and show that you can't afford to pay them any more or that you have to apportion money to each creditor, assuming you have more than one?
But if you want a simple solution, and avoid a potential CCJ, then offer the 50% (£555) approx., I think they will bite your hand off.
Wingco

[Gilltheblackcat]

Re: Problem regarding Lovell.

Does it still show on your credit report being with the original creditor ?

So I think your best bet would be to send a request for a copy of the credit agreement (CCA request), separately an explanation of what's happened with your DMP and could you have a full statement of account showing all payments since Lowell took over the debt and inform them you are setting up a new DMP yourself.

So today I have gone to the P.O. for some Postal Orders. You suggest separately, in two separate letters or both in the same envelope? and just to be sure, its an overdraft so will the CCA be correct, or would some other letter/fee be applicable?

[nemesis45]

Re: Problem regarding Lovell.

So today I have gone to the P.O. for some Postal Orders. You suggest separately, in two separate letters or both in the same envelope? and just to be sure, its an overdraft so will the CCA be correct, or would some other letter/fee be applicable?

IF the Particulars of Claim state the there was a " An agreement regulated by CCA 1974 ," or similar wording send a CCA request if not just CPR31.14 to the solicitors. Do NOT ask for documents Not mentioned in rhe POC.

nem

[Gilltheblackcat]

Re: Problem regarding Lovell.

IF the Particulars of Claim state the there was a " An agreement regulated by CCA 1974 ," or similar wording send a CCA request if not just CPR31.14 to the solicitors. Do NOT ask for documents Not mentioned in rhe POC.

nem

There's no threat of a CCJ as yet.

What I have is a letter saying they have bought and had assigned the debt, from Sigma Financial Group in January, and
several letters saying they want to understand why I haven’t paid them and they would like to help me settle my account.

Compass were supremely slack, as they were told numerous times to sort an F&F, and to pay in full, yet the balance suggests pennyzero has been paid, they always said they didn’t know who had the debt now. I could go down the statute barred road, but Lowell are nasty with last minute court requests so I have read, plus, if compass have been sending offers of payment then it wont be SB.

[Gilltheblackcat]

Re: Problem regarding Lovell.

Dear Sirs

Ref: Lowell ref no. 219xxxxx

I was previously using the services of an FCA regulated Debt Management firm, Compass Debt Counsellors, however they have recently had their FCA authorisation removed and entered Administration and as such are no longer able to manage any of my debts.

In order to assist me with the setting up of new arrangements I would be grateful if you could provide me with a detailed statement and current balance of any accounts held with you, with a list of all transactions made on the account since July 2011and details of where payments should be made to. I would be grateful if you could freeze any charges on the account.

Sadly it appears that Compass Debt Counsellors were not acting in my best interests and I have been informed I am likely to have lost a large amount of money that was paid to them with a view to making payments towards the debt held with you. This is, as I am sure you will understand, quite devastating, however I am making best efforts to sort out my finances to enable me to get back on track, and ask for your patience and forbearance in handling my account.

Compass it would seem have also not been making some payments to accounts that they were instructed to be dealing with, and this leaves me with a great deal of worry that my debts are likely to be as large now as they were 5 years ago. They were instructed to deal with all of my unsecured debts, to which this will be one.



I also request a copy of any correspondence sent to me as I was sending all creditors letters to Compass as per their instructions.


With regards,

Pxxxxxxxx

letter regarding compass state of affairs.

- - - Updated - - -

I'll pop that in the post today, unless anyone can see anything amiss?

[nemesis45]

Re: Problem regarding Lovell.

There's no threat of a CCJ as yet.

What I have is a letter saying they have bought and had assigned the debt, from Sigma Financial Group in January, and
several letters saying they want to understand why I haven’t paid them and they would like to help me settle my account.

Compass were supremely slack, as they were told numerous times to sort an F&F, and to pay in full, yet the balance suggests pennyzero has been paid, they always said they didn’t know who had the debt now. I could go down the statute barred road, but Lowell are nasty with last minute court requests so I have read, plus, if compass have been sending offers of payment then it wont be SB.

Compass have really messed up so many people's finances !
I wonder if they actually made and offers of payment at all and just hung on to your money.

I'm wondering if a Subject Access Request to the administrators would get definitive answers to the Payments/offers situation.

nem

[Gilltheblackcat]

Re: Problem regarding Lovell.

I'm wondering if a Subject Access Request to the administrators would get definitive answers to the Payments/offers situation.

nem

http://legalbeagles.info/forums/show...hlight=compass

Ditto

[mox113]

Re: Problem regarding Lovell.

Reading this thread is making increasingly concerned with the management of Compass. Not being expert and allowing them to do all the work was clearly a mistake on my part. Over the times I called to discuss my account with them I was always told that full and final offers should be made to all creditors at the same time. Is this true?

The tiny amounts that debts are bought for is astonishing.

Sorry for butting in here.

[Gilltheblackcat]

Re: Problem regarding Lovell.

They were told at least twice to sort fandfs then told to pay some in full,each time they told me to wait as my fandfs will end up lower. Then back in Nov they told me they were sorting my fand fs and that I could expect significant change from my balance....

[Wingco]

Re: Problem regarding Lovell.

They were told at least twice to sort fandfs then told to pay some in full,each time they told me to wait as my fandfs will end up lower. Then back in Nov they told me they were sorting my fand fs and that I could expect significant change from my balance....

Hi Gill
I'll be debt free soon:
I've had some very friendly and helpful responses from Lowells (Ex-Sigma Red who never responded to my letters) recently and Lowells are delighted to accept my increased monthly payments (compared to the Compass token amounts).
It shows how useful a CCA letter can be; in my case Sigma Red had sold my debt on to Lowells but not told me. That probably also makes it unenforceable but I can imagine a Court may view it differently - not that I intend going to Court if I can avoid it.
Lowells have accepted £10 (Compass were paying under £4) and are more than happy. The debt is around £6000 on that one which means I will be debt free to Lowells in 50 years' time or when I'm 119; it will be a huge relief!!!!!!!!!!!!!!!!!!!! (It would have been 125 years or when I reach 194 with Compass.) I got into the debt, so it doesn't worry me that I may go on paying well beyond my Queen's telegram - it will probably King Charles' telegram by then?
Wingco