Managing your credit debts, personal and Payday loans and mortgages are tough, no doubt. Now, if an additional organization, named Lowell Financial Ltd. demands that you owe money from them it is nothing less than a fretful situation. Especially, when you can’t remember the name ‘Lowell’ or you haven’t heard that name beforehand.
There are high chances that Lowell Financial is chasing you, as the third-party debt collector. Creditors might appoint debt collectors if you miss debt repayments or fail to meet up the minimum amount.
Or, if the company manages to purchase your debt amount from your creditors, then it becomes the new creditor for you. The debt collectors would contact you or send warning mails, too. So, if you’re receiving similar calls, letters from Lowell Financial Ltd, then here’s what you should know.
Introduction to Lowell Financial Ltd
Lowell Financial is an FCA-authorised group of companies who deal with the collection of debts and help in retrieving suitable debt management plans. Founded in 2004, Lowells are one of the prominent names among all the debt collectors in the United Kingdom.
It has been at the top place in collecting debt and pleasing its clients with the collection amount for years. The company is liable to offer its incredible debt collection services to government organizations, retails, telecom and financial agencies, utility service providers.
With its main branch at Leeds and another branch at Tolworth, Lowell financial Ltd. is an honorary member of Credit services Association. Currently, the agency is operating with almost 1700 employees, across the UK.
Lowell’s debt collectors simply purchase the debt from other creditors and then try to fetch the debt amount from you, in case you fail a debt repayment plan. Moreover, the debt collectors purchase the debts in return for less price than what the debts actually weigh. In order to make a profit, they would demand the debt at its outstanding value.
Why is Lowell Financial Ltd. Contacting You?
Till now, you have understood how Lowell Financial Ltd. works. If your creditors have sold them the debt that is assigned on your name, Lowells have gained the power to contact you. And, from now on, you have to deal with them regarding any of the debt pay-offs.
Apart from private creditors, Lowell Financial can buy accounts from credit card service providers, telecom service vendors and banks. You’re more likely to receive calls and letters from them, as you have failed to pay off the debts in instalments or lump sums.
Here are some examples of companies for whom Lowell usually work for:
- Capital One
- Vanquis Credit Cards
Initial Steps Taken by Lowell Financial to Recover your Debt
At the very beginning, debt collectors might not be that rigid. The debt collectors might just call you or contact through letters. And, they would request you to make the payments to the outstanding debt amount. If you don’t pay attention to their calls and don’t take any step towards the payment, then the frequency of calls might enhance. Even, the collectors might visit you personally.
Does Lowell Financial Ltd. Arrange a Surprise Home-Visit for you?
The employees or appointed agents, on behalf of Lowell Financial Ltd., might visit your home to discuss the debts you still owe from the company. Undoubtedly, it can be a sign of disrespect to you and your entire family, especially when they visit your home without any prior notice. It can bring on a negative impact on your mental and physical health, as well.
Well, these are strategically planned by the company to get you in the harassment trap and compel you to pay the remaining debt. Usually, such tricks do work and people start paying off the debt through instalments if the debt is excessive. However, handling stubborn debt collectors on your own can be quite challenging. If you don’t know the right way of tackling them, then it would be better if you hire a debt advisory company.
Actions Taken by Lowell Debt collectors to Recover Debt
Debt collectors can make your day-to-day living quite hard if you don’t payback. However, it’s the computerized system inside Lowell Financial Ltd. that keeps track of the debtors that are registered under the company.
Those debtors whose pay-off can benefit the company to its greatest extent are usually at the top of that list on the system. Consequently, the debt collection agents would contact you more frequently, if you’re one of those high-profile debtors. As a bonus tip to your debt conditions, you can apply for an IVA, if you owe greater than £5000 and are unable to pay off the debt.
However, the contact from the behalf of the debt collector would start with gentle reminders on your phone number. If you have watched such news articles and documentaries, then you might have an idea over the aggressive nature of debt collecting companies. They can turn to be rude sometimes, towards the debtors, who are really struggling with finances.
Lowell Financial Ltd. would issue a letter including what amount of debt you owe, the charges that have accumulated in these years and the deadline within which you have to repay the debt. Additionally, the letter would specify what the further results can be if you don’t start the repayment.
Here are the preferred options that are taken by Lowell, in case you don’t show any interest in debt repayment.
- Agents would visit in person at your home
- Lowells Solicitors might arrange a Country Court Judgement if you miss out the deadline
- Warning to issue bankruptcy in your name, in case the debt measures more than £750
And, they can take these above-mentioned steps whether you fail to pay the debt in full or in instalments. Apart from Lowell Financial Ltd., other creditors and debt collectors can act in the same way. It’s high time that you avail assistance from a financial or debt advisor, for a quick rescue from recurring calls and warnings from Lowell debt collectors.
Payment Procedures at Lowell Financial Ltd.
If you agree to pay back the debt to Lowell and commit to cooperate with the financial institution over monetary affairs, then Lowell would make the payment process easier. Well, you can access their online portals to make the payments. But, you need to check if you have to go through instalments or its full extent. If it doesn’t propose an affordable repayment scheme, then it wouldn’t bring any benefits.
Go and check their budget calculator followed by the payment options available at Lowell Financial Ltd. Now, you need to provide the reference number that you had received on your mobile phone or from the official letter.
Don’t toss the letter or delete the reference number; as it’s evidence that you have paid that scheme. However, don’t forget to justify claims from Lowell debt collectors, before going for the payments. Contact the creditors to know whether Lowell really owns the debt authority, now.
Registered Rights of Lowell Financial Ltd.
Debt collectors do follow a strict conduct code to make the requital beneficial, from debtors. It can be disgusting if the field agents suddenly knock on your door and ask for the debt repayment. You can clearly notice the threatening and prompt action-taking tone in their conversations.
All the endeavours they put in is just to get their owed money back from you. They hardly care for your emotions, sentiments and interests. Well, this is the saddest truth regarding debt collectors and their working mechanism.
However, here are the rights that Lowell Financial Ltd. pose:
- They can issue letters to your home. If you have currently shifted to a new location, then they won’t spare that address, too.
- Additionally, phone calls are nothing new to their conduct regime.
- Their designated agents can fix appointments with you at your convenience, and then come over to your home. Well, this doesn’t have to be scheduled, every time.
- You might encounter surplus charges from Lowell Financial if you have entered any penalty clauses.
- Whether you owe money from a bank, credit card providers Lowell’s do have the right to offset.
- Additionally, the defaulter tag might appear before your name, if you don’t take any positive action toward the debt recovery. The consequences have the potential to invite a disaster to your credit rating.
- Moreover, a Country Court Judgement can appear on your credit file, as per the request from Lowell Financial Ltd. It can drive uncertainty to your further credit application and achievements in the near future.
- A statutory demand can be easily filed over your debt if it figures out more than £5000. By the way, it’s the first step for registering bankruptcy for you. And, you need a solicitor to represent your financial woes.
Can you Ignore Lowell Financial Ltd.?
Debtors are misguided with the thought that overlooking the debt collectors and their demands might fade away if they simply ignore the collectors and the agents. Unfortunately, the stubborn debt collectors won’t leave the debtors alone, at any cost; unless, the debtors have paid the debt in full or consented financial agreements.
Therefore, ignoring Lowell Financial Ltd or other debt collectors would not relieve you from the situation. Additionally, they would pressurize you more and more. You might risk your earnings, assets and properties by overlooking their debt pay-off demands.
They are powerful enough to drag you to the court for legal actions and might initiate the process of your bankruptcy. Thus, talk to the representatives of Lowell debt collectors and explain why you can’t pay the debt. Or, you can assure them that you would repay the debt through instalments.
How to Deal with Awkwardness?
Discussing the facts about the debt and your failure to pay off the debt might appear as a matter of shame. Well, you’re not the only one who is struggling with debt associated with Lowell’s. However, the figures have reached almost 8 million people who are overburdened with debt issues across the entire United Kingdom.
If you think that the agents of Lowell financial are going to judge you, then it’s nothing but a nightmare. It’s their business to ask people to clear off their debt, and they would treat you respectfully if you agree to put an end to debt with regular repayment options. If things are worsening day by day, then you can contact a solicitor or debt management plan provider for a seamless credit rating.
Your Rights in Opposition to Lowell Financial Ltd.
Yes, you’re a debtor but also a citizen of the United Kingdom. And, you have the rights to look after you and your family’s welfare. If you think that Lowell financial and its agents are mentally torturing or abusing you, then here are some of your rights that can be revised:
- The company has no right to harass you. They can call you over the times to remind you of your debt and its deadline. Well, the frequency can hardly be specified. However, you can ask the debt collector to contact you through letters only. Make sure that you respond to every letter that reaches your mailbox, from Lowell Financial Ltd.
- In addition to this, the company should not show off their powers just to threaten you. They don’t have the right to abuse you or lie to you, to forcefully collect the debt repayments.
- Designated law can stop them from sending you court-papers.
If the company’s conduct seems rude or abusive to you, feel free to file your complaint to any debt advice service provider.
Can Lowell Financial Ltd. Send you Bailiffs?
The straight answer to this query is simply “NO”. The debt collectors might send you a group of agents at your place if you give excuses for repaying the debt. But, the law doesn’t support the company to dispatch a bailiff against you.
But, they can issue the Country court Judgement, as specified before. However, if you fail to cope up with Country court Judgement too, then you might receive paperwork from the court, but not from the debt collectors.
Will Lowell Financial Ltd. Sell your Home?
Debts and their repayments can form a never-ending loop. Though Lowell Debt collectors can’t sell your home at any cost, you can’t be too assured. If you can’t settle for the consents decided in the Country Court Judgement, then it is taken as a denial of the court orders.
As a result, the court might pass a charge against you because you have shifted from the vows. Thus, the court can take strict actions against you.
Can Lowell Financial Ltd. Pursue Attachment of Earnings Order?
Yes, they are in a desperate condition to get the debt recovered from you. But, Lowell Debt Collectors can’t pursue Attachment of Earnings Order. This order is set to pay off the debt directly, from your account, on every payday of yours.
Unfortunately, if a CCJ is assigned on your behalf, or you have been driven to the court, then the consequences can go different. The court might give an order to issue Attachment of Earnings, and you have to abide by the rules until your debts are cleared.
Restrict Lowell Group from Connecting you Again and Again
The fact is that you can’t run away from your debt and it’s not a wise decision, as well. But, repetitive contact letters and phone calls might annoy anyone. In case, you want to restrict Lowell Financial from sending you letters, then a ‘cease & desist’ letter might work for you.
Moreover, this particular letter can’t save you from debt and its burden. And, this doesn’t write off your debt, either. Sending Lowell Financial Ltd. such letters can’t save you for a long time. If the Lowell group wants to take you to the court, then it’s not impossible.
Well, What to do if You Can’t Pay off Debt?
Financial instances might be tough for you and you might not settle for the full-debt payment, right now. Instead of full pay-off, you can switch to monthly instalments as per your earnings. Lowell might issue discounts for loyal debtors.
However, if the instances worsen, then you can apply for debt management plans, Debt Relief Orders, Individual Voluntary Arrangement or other strategies to get your debt written off. Don’t forget to grab help from an experienced financial advisor, before you go for any dedicated debt scheme.
Frequently Asked Questions
What is a Country Court Judgement?
The Country Court makes a formal assessment named CCJ when a debtor fails to repay the debt to a specific creditor. In case, the debtor doesn’t clear off the debt, within the one-month period notice, the CCJ is introduced. Once a CCJ is issued on your name, it appears on the Public Register. It can put the chances of getting credit, in the near future, at risk.
Do You Really Owe from Lowell Financial Ltd.?
Lowell Financial Ltd. must have shown you how much debt you owe from them. If you’re still not convinced, ask the agents to send you the original credit documents, for further verification. Mistakes can happen at either side. That’s why it would be better if you double-check the outstanding debt and the deadline from written agreements.
What are the Effects of COVID-19 over Debt Collection?
The government decides to be generous towards debtors in these difficult times. The lenders are requested to offer assistance and support for debtors, especially those who are struggling with debts. Payment holidays is one of the appreciated initiatives.