Get a Free Debt Evaluation
Sell Your Debt Now
Sell Your Debt

Call Us!

123-456-7890

What Debts Does Lowell Buy?

What Debts Does Lowell Buy?

What Debts Does Lowell Buy?

Have You Been Contacted by Lowell Financial? Here’s What It Means

Receiving a letter, email, or phone call from Lowell Financial can be worrying, especially if you are unsure why they are reaching out. But what exactly does Lowell do, and why might they be contacting you? This article explains everything you need to know about Lowell Financial, the types of debts they buy, and what steps you can take if they have purchased your debt.

Who Is Lowell Financial?

Lowell Financial Ltd is one of the UK’s largest debt collection agencies. Established in 2004, they specialise in purchasing unpaid debts from various organisations, including banks, credit card providers, utility companies, and telecom firms. When a company is unable to collect an outstanding balance from a customer, they may sell the debt to Lowell at a reduced price. From that point forward, Lowell becomes the legal owner of the debt and is responsible for collecting payment.

If you have received communication from Lowell, it likely means they have purchased a debt you previously owed to another company.

Is Lowell Financial a Legitimate Debt Collection Agency?

Yes, Lowell Financial is a fully regulated debt collection company in the UK. They are authorised by the Financial Conduct Authority (FCA), which ensures they follow strict guidelines when dealing with customers.

If you feel that Lowell has acted unfairly or in a way that does not comply with FCA regulations, you have the right to escalate your concerns to the Financial Ombudsman Service.

What Debts Does Lowell Buy?

Lowell Financial purchases a wide range of debts from various industries, including:

Financial Services

  • Credit cards
  • Store cards
  • Buy Now, Pay Later (BNPL) services
  • Unsecured personal loans
  • Retail finance agreements

Banks

  • Overdrafts
  • Personal loans
  • Car finance arrears
  • Bank account debt from unpaid fees

Utility Providers

  • Gas bills
  • Electricity bills
  • Water bills
  • TV licensing debts

Telecom Companies

  • Mobile phone contracts
  • Broadband services
  • Unpaid landline bills
  • Outstanding TV or satellite subscriptions

Council and Public Sector Debts

  • Council tax arrears (sold by councils under specific agreements)
  • Parking fines passed to private collection agencies
  • Overpaid benefits that require repayment

If you have an unpaid balance in any of these categories, your original creditor may have sold your debt to Lowell. Once this happens, all future payments and communication regarding the debt will be handled by Lowell rather than the original company.

How to Know If Lowell Owns Your Debt

If your debt has been transferred to Lowell, you will receive a Notice of Assignment, which confirms that they are now the legal owner of the debt. Your original creditor may also send a letter informing you that your account has been sold.

To verify whether Lowell owns your debt, you can:

  • Check your credit file for updates.
  • Contact Lowell directly for confirmation.

What Should You Do If You Owe Money to Lowell?

1. Confirm That the Debt Is Yours

Before making any payments, confirm that the debt belongs to you. You can contact Lowell to request proof, such as a Prove It letter, which requires them to provide evidence of the debt.

If you do not recognise the debt, it is important to dispute it as soon as possible.

2. Explore Your Repayment Options

If the debt is valid, you have several options for managing repayment:

  • Pay the balance in full – If you can afford to, settling the debt in one payment will close the account quickly.
  • Set up a payment plan – Lowell may allow you to spread the cost over manageable instalments.
  • Seek debt advice – If you are struggling with multiple debts, you may qualify for a formal solution such as a Debt Management Plan (DMP), Individual Voluntary Arrangement (IVA), or Debt Relief Order (DRO).
  • Negotiate a reduced settlement – In some cases, Lowell may agree to accept a reduced amount as a full and final settlement.

3. Do Not Ignore the Debt

Ignoring a debt that Lowell owns can have serious consequences, including:

  • Additional fees and charges being added.
  • A negative impact on your credit score.
  • Potential legal action, including a County Court Judgment (CCJ).

If Lowell takes court action and a CCJ is issued, it will remain on your credit file for six years, making it difficult to access credit in the future. If you receive a Claim Form from the court, seek professional debt advice immediately.

What If You Cannot Afford to Pay Lowell?

If you are struggling financially, consider these steps:

1. Seek Free Debt Advice

There are several organisations that provide free and impartial advice, including:

2. Check If You Qualify for a Debt Solution

If your debt is unmanageable, you may be eligible for:

  • Debt Relief Order (DRO) – Suitable for individuals with little to no disposable income.
  • Individual Voluntary Arrangement (IVA) – A legally binding repayment plan over five years.
  • Bankruptcy – A last-resort option for those unable to repay significant debts.

A debt adviser can help determine which solution is best for your situation.

Can Lowell Take You to Court?

If you ignore a debt that Lowell owns, they may take legal action against you. This could result in:

  • A County Court Judgment (CCJ), which damages your credit score.
  • Bailiff visits (if the CCJ is not repaid).
  • A Charging Order, which could secure the debt against your property.
  • An Attachment of Earnings Order, which deducts money directly from your wages.

If you receive legal paperwork from Lowell, do not ignore it. Seek debt advice as soon as possible.

How to Stop Lowell from Contacting You

If you want to limit how Lowell contacts you, you can request that they communicate via letter only. However, unless your debt is settled or legally written off, Lowell will continue to pursue repayment.

Ignoring their communication is not advisable, as this could lead to further action against you.

How to Make a Payment to Lowell

Lowell accepts payments through various methods, including:

  • One-off lump sum payments
  • Monthly instalments
  • Direct debit or standing order
  • Bank transfer
  • Debit or credit card

Payments can be made via their online portal or by calling their payment line.

Final Thoughts

Dealing with debt collectors like Lowell Financial can feel overwhelming, but understanding your rights and options is key to managing the situation. If Lowell has purchased your debt, taking proactive steps – whether that means repaying the balance, setting up a payment plan, or seeking debt advice – will help prevent further complications.

If you are struggling to pay, reach out to a trusted debt adviser for guidance on the best way forward. Addressing the situation sooner rather than later can help you regain financial stability and avoid further financial stress.

Share :
Recent Post
Categories