Get Out Of Debt
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How Can I Get Out of Debt?

With a simple legislated debt solution you can consolidate all your debts into one lower, affordable monthly repayment. Make one set payment per month for a set period, and after the period expires any remaining debts left are legally written off. This can be up to 90% depending on your circumstances.

40% discount from lowell!

h477150n asked:

Good morning everyone.

I recently received a letter from lowell headed “pre enforcement assessment” they sent letters same time last year but have never upto now offered any discount on alleged debt.

Now im in a position to pay off this ‘40% discounted offer’ BUT will it have any positive effect on my my credit rating? Or will it just be a burdon untill the emd of 6year period, as im desperate to get on the property ladder? This has been holding me back the last 5 years.

The default on my credit report shows 2011 so would be SB after next year but i would prefer to start repair my credit sooner rather than later.
I was issued with a CCJ 3 years ago but has never shown on my credit report.
Is it possible that lowell will re rigister the CCJ next year if i risk waiting till the 6 year period?

Thank you guys any advice is really apreciated in advance.

thor replied:

Wait they have offered you a 40% discount. why when they can go for they full amount. Here is why they have no proof you owe bugger all. it is there way off saying please pay us something……………please, please, with icing on top. Why on earth would you pay money to someone you don’t know. you need to start the 3 letters and I bet you they will just fold.

Trusgar replied:

Sadly if you wish to repair your credit report status now and not wait until it is statute barred then you will have to settle with them. You could always make a counter offer, say 15%-20%, you never know as they will also see the SB date and probably glad to get a return on their money but make sure that cleaning up you credit report is part of any deal you strike. Not sure if this will erase the CCJ though so you would need to check that out. Could be worth a try. Good luck.

Tiggy replied:

Bit puzzled, are you talking about the same debt or two different ones?

williams2583 replied:

Your choice to settle or not the benefit being your CR will be cleared of this claim, however the large discount means they dont have evidence so cant enforce so you can wait for the sb date to happen or wait for the next discount offer or even offer a much lower settlement ie 80% discount as they paid 5p for it,if you go this route ensure you state payment by you does not in anyway acknowledge the debt.

thor replied:

Personally I would wait till next year when it becomes SB as already pointed out by me and Williams the offer of discount is there way of admitting they have no proof what so ever. You have waited this long so what is 1 more year. The CCJ not even on your CF. I could not give a monkeys about my CF. But again this is your choice good luck.

h477150n replied:

Sorry for late reply been a busy day at work.

Yes the CCJ is for the same ONE supposed debt, but the CCJ doesnt show on my Credit file but my local court confirmed the CCJ last year.

Id love to be able to attack them and ask them to show me there cards but is it likely to come up craps for me?. Id hate to aggrevate the situation when i could possibly extinguish it for less.

It it possible to counter offer but insist that they wipe the default from my Credit file altogether rather than a “partially settled”?

Thanks guys a slight mix of opinions but all very helpful.

I would rather not wait until next year for SB as i really need to sort my credit rating out asap.

Also as they have a ccj against me would it not reset the 6 year SB if they re register the ccj before next year?

Tiggy replied:

A CCJ stays (if recorded) on your credit file for 6 years from Judgment date.

Once the 6 years has passed and they haven’t tried to enforce it then it’s dead and gone.

I would suggest keeping your head down, they obviously have failed to register that they’ve got a CCJ against you and if they did start proceedings again you can apply to get them struck out on the basis they’ve already got an order against you for the same debt.