Making payments

What your payment options are and what happens if some are missed

What is a payment plan?

A payment plan is an agreement to repay your debt in a way that’s affordable to you. You can choose how much you pay, how often you pay and which payment method you use.

What happens if I don't pay?

We’ll try to contact you by phone, email and letter. If you don’t set up a payment plan or tell us about your situation, your account could be at risk of defaulting. If your account has already defaulted, your credit file will show that you’re not trying to clear your debt, which could impact your credit score.

After a certain amount of time, if we still haven’t heard from you, we may pass your account to Lowell Solicitors. Just like we did, Lowell Solicitors will try to contact you. If you don’t respond, they may take legal action. This could result in a County Court Judgement (CCJ) which may lead to enforcement action such as bailiffs (enforcement agents).

What should I do if I can't pay?

We understand that everyone’s situation is different and that for some people, setting up a payment plan doesn’t seem possible. No matter what your situation is, we’ll always take the time to listen and understand. Our friendly team are trained to help you find the right support, so please make sure you let us know what’s going on.

Are there any benefits to paying with Lowell?

There are lots of reasons why it’s worth starting to pay off your debt. You could feel peace of mind knowing that you’re taking control of your finances, and you might improve your credit status.

What are my payment options?

There are lots of ways for you to start paying. You can set up an automatic Direct Debit, make a one-off payment or choose one of our other payment options. Choose whichever way is right for you.

What happens if I make extra payments?

You can make extra payments any time you like – it won’t affect your payment plan and it could help to pay off your debt faster. Make an extra payment by going online or giving us a call.

What happens if I miss a payment?

We understand that there are lots of reasons you might miss a payment. Whether it’s because your wage was late or unexpected bills, it’s always best to get in touch and talk to us about why. If you miss payments without telling us why, we’ll try to contact you so that we can understand what’s happened. If we still don’t hear from you, your account will show as ‘in arrears’, which means you’re behind on your payments.

What if my last payment is less than the amount agreed in my payment plan?

You’ll never pay more than what you owe. So, if your payment plan is for £20 per month, but you only have £12 left to pay, your last payment will be £12.

Can I make payments without setting up a payment plan?

Lots of our customers prefer to set up a flexible payment plan than to make one of payments. That’s because regular payments can be easier to manage and are often a more effective way to pay off debt. Set up a payment plan by going online or giving us a call.

How much do I have left to pay?

You can see how much you have left to pay at any time. Just log in to your online account to see your balance, what company your debt was with originally and all the payments you’ve made so far.

Should I carry on paying the company my debt was originally with?

No, it’s best to cancel your payments with the original company and set up a payment plan with us. Now that your account is with Lowell, any payments you make to the original company will be forwarded to us. This will delay the payment being added to your balance.

How can I see a statement of my payments?

You can see a statement of all the payments you’ve made so far, on your online account. If you want to see a statement of the payments you made to the original company, just call us and let us know. We’ll get in touch with the original company and send the statement to you.

Can you help me understand how much I can afford to pay?

We have several ways to help you understand what you can afford. Our budget calculator could help you understand your finances better and doesn’t take long to fill in. Alternatively, you can use our MyBudget tool, which collates your real-time bank account information to give you an accurate break down of your outgoings.

What is the MyBudget tool?

The MyBudget tool is similar to a budget calculator but more accurate, faster and easier. It uses your real-time account information to create a bank verified budget on your behalf. It then sends the information to us so we can save the details to your account. This allows us to understand your circumstances better and helps us to offer the right solution for you and your debt.

How do I amend or cancel my payment plan?

We understand that things can change. If you feel that your payment plan doesn’t work for you anymore, please get in touch and we can help you find the best way forward.

I’ve already paid this off. Why are you still contacting me?

If you think you’ve paid this debt, please get in touch to let us know. We’ll ask for details of the payments made such as the amount, method and who the payments were made to. Once we have the information we need, we’ll investigate with the original company.