Getting a call from an unknown number like 03335565564 can raise concerns, especially if you’re unsure why you’re being contacted. This number is linked to Lowell Financial Ltd, one of the UK’s leading debt collection agencies. If you’ve received calls from this number, it’s crucial to understand who’s calling and how to handle the situation in a calm, professional manner.
In this blog, I’ll explain who Lowell Financial is, why they might be contacting you, your rights as a debtor, and how to manage or dispute their claims. Dealing with debt collection can feel stressful, but being informed about the process will empower you to take the right steps.
Who Called from 03335565564?
Lowell Financial Ltd is a well-known debt collection agency in the UK. They specialise in purchasing unpaid debts from various companies, such as credit card providers, utility companies, and telecommunications firms like O2, Vanquis, and Capital One. Once these debts are bought, Lowell Financial becomes the new creditor responsible for collecting the amount owed from you.
If you’re receiving calls from 03335565564, it likely means that Lowell has purchased your debt from another company and is now trying to recover the payment. They are known to use several phone numbers, so blocking this number won’t necessarily stop the calls. Therefore, it’s essential to address the situation directly, even if you’re unsure about the legitimacy of the claim.
Why Am I Being Called by 03335565564?
There are several reasons why Lowell Financial might be contacting you through 03335565564:
- Debt Collection: The most common reason for these calls is to recover an unpaid debt. Lowell Financial purchases debts from other companies at a discounted rate and then attempts to collect the full amount from you. This debt could be related to a credit card, loan, or a utility bill you may have forgotten about.
- Verification of Information: In some cases, the debt might not belong to you, or it may have been paid off previously. Before they proceed, Lowell might contact you to confirm personal details such as your address, employment status, and income. These calls aim to verify whether you are the correct individual and to assess your ability to repay the debt.
- Legal Follow-Up: If the debt remains unpaid, Lowell may escalate the case. They could initiate legal proceedings such as obtaining a County Court Judgement (CCJ), which could damage your credit rating. It’s important to engage with them to avoid any further complications, especially if the debt is enforceable.
What to Do When Lowell Financial Calls?
The first thing to remember is not to ignore these calls. Ignoring debt collectors can lead to increased pressure, added fees, and even legal action. Here’s what you should do instead:
- Answer the Call: It’s vital to speak with Lowell Financial and get as much information about the debt as possible. Ask for details about the original creditor, the amount owed, and when the debt was incurred.
- Remain Calm and Professional: Stay composed and treat the call as a business transaction. It’s important not to get emotional or feel pressured into making a quick payment. Debt collectors are trained to negotiate, and it’s up to you to ensure that any agreement made is reasonable for your situation.
- Assess Your Financial Situation: If the debt is legitimate, assess whether you can pay it off in full or set up a repayment plan. Lowell Financial is often open to setting up payment plans that can stretch over a period, making it more manageable for you.
What Are the Legal Guidelines for Debt Collectors?
Debt collectors in the UK, like Lowell Financial, are regulated by the Financial Conduct Authority (FCA). This means they must adhere to strict guidelines when dealing with individuals. These include:
- No Harassment: Debt collectors are prohibited from harassing individuals by calling multiple times a day or contacting them at unreasonable hours.
- Transparency: They must be transparent about the details of the debt, including the original amount, any interest added, and the original creditor.
- Respecting Your Rights: You have the right to request that all communication be made in writing. Additionally, they cannot demand payment for debts that are legally unenforceable, such as those that are statute-barred (debts that are too old to be recovered in court).
Debt collectors also cannot threaten legal action unless they actually intend to follow through, and they must stop contacting you if the debt is not enforceable.
Should You Ignore Calls from 03335565564?
While it might seem tempting to ignore calls from Lowell Financial, doing so can lead to significant consequences. Here’s why:
- Accumulated Fees: Ignoring a debt could result in additional fees and interest being added to the amount owed, making it more difficult to repay in the long run.
- Legal Action: Lowell Financial could escalate the situation by obtaining a County Court Judgement (CCJ) against you, which could damage your credit rating and lead to further legal consequences like wage garnishments or the involvement of bailiffs.
It’s always better to face the issue head-on by either negotiating a payment plan or disputing the debt if you believe it’s not legitimate.
Debt Management Solutions for Lowell Financial Cases
If you owe money to Lowell Financial, there are several ways to handle the debt:
- Repayment Plans: You can negotiate a structured repayment plan based on your financial situation. Lowell Financial is generally open to discussing flexible terms, especially if it means they can recover the debt.
- Individual Voluntary Arrangement (IVA): An IVA is a formal agreement between you and your creditors to pay back a portion of your debt over time. It’s a useful option if you have multiple debts that you’re struggling to manage. An IVA will stop Lowell from pursuing further legal action while you are making payments.
- Debt Relief Order (DRO): If you have little to no disposable income and owe less than £30,000, you may qualify for a DRO, which can help you write off your debts after a set period of time.
How to Dispute a Debt with Lowell Financial?
If you believe that the debt Lowell is chasing doesn’t belong to you, or if it’s statute-barred, you have the right to dispute it. Here’s how:
- Request Proof: You can ask Lowell to provide written proof of the debt. This should include the original creditor, the amount owed, and the date of the last payment.
- Check for Statute-Barred Status: In the UK, debts that are over six years old (and have had no payment or acknowledgment in that time) can be classified as statute-barred, meaning they can no longer be enforced through legal action.
Contacting Lowell Financial Ltd for Debt Resolution
If you wish to resolve your debt with Lowell Financial, here are the main ways to contact them:
- Phone: 03335565550
- Website: www.lowell.co.uk
- Address: No.1 The Square Thorpe Park View, Thorpe Pk Approach, Leeds LS15 8GH
By opening a line of communication, you can negotiate payment terms or even dispute the debt if it’s not legitimate.
Conclusion
Dealing with calls from Lowell Financial can be stressful, but it’s important to remain proactive and informed. Avoiding their calls may escalate the situation, leading to legal consequences. Instead, take control by understanding your rights, negotiating payment terms, or disputing the debt if necessary. By addressing the issue head-on, you can avoid further stress and resolve the debt on terms that work for you.
What Are the FAQs About 03335565564?
Who does the number 03335565564 belong to?
The number 03335565564 is linked to Lowell Financial Ltd, a debt collection agency in the UK.
What happens if I ignore calls from Lowell Financial?
Ignoring calls from Lowell Financial can lead to additional fees, damage to your credit score, and potentially legal action, such as a County Court Judgement (CCJ).
Can I stop Lowell Financial from calling me?
Yes, you can request that all communication be done in writing. However, it’s important to respond to their correspondence to avoid further legal complications.
What are my rights under FCA guidelines?
Debt collectors must follow FCA regulations, including avoiding harassment, providing transparent information about your debt, and respecting your request for communication to be in writing.
How do I know if my debt is statute-barred?
If a debt is more than six years old and you have made no payments or acknowledged the debt in that time, it may be considered statute-barred, meaning it is no longer legally enforceable.
Will Lowell Financial take me to court?
Lowell may pursue legal action if the debt remains unpaid. However, they often prefer to negotiate a payment plan before escalating to court.
Can I negotiate a payment plan with Lowell Financial?
Yes, you can negotiate a repayment plan with Lowell Financial that aligns with your financial situation.
