Lowell Finance Complaints

Lowell Financial is a debt collection agency that buys and collects on debts from various creditors. Like many debt collectors, they are subject to numerous consumer complaints. These complaints often revolve around alleged violations of the Fair Debt Collection Practices Act (FDCPA) and other consumer protection laws.

Common Types of Lowell Financial Complaints

• Debt Verification Issues: Consumers often complain that Lowell Financial fails to adequately verify the debt before attempting collection. This includes not providing sufficient documentation, such as the original creditor's name, account number, and an itemized breakdown of the debt. The FDCPA requires debt collectors to provide this information upon request within a specific timeframe.
• Harassment and Abusive Practices: Some consumers report experiencing harassment from Lowell Financial, which can include excessive phone calls, calls at unreasonable hours, and threatening or abusive language. The FDCPA prohibits such behavior, defining specific limits on collection calls and prohibiting harassment or abuse.
• Inaccurate Credit Reporting: Consumers may find that Lowell Financial reports inaccurate information to credit bureaus, negatively impacting their credit scores. This can include reporting debts that are not owed, are already paid, or are beyond the statute of limitations. Consumers have the right to dispute inaccurate information on their credit reports and require Lowell Financial to investigate and correct any errors.
• Debt Not Owed/Identity Theft: In some cases, consumers report being contacted by Lowell Financial for debts they do not owe, often due to identity theft or mistaken identity. Thorough investigation and communication with Lowell Financial are crucial in these situations to prove the debt is not legitimate.
• Failure to Cease Communication: If a consumer sends a cease-and-desist letter to Lowell Financial, they are legally obligated to stop contacting the consumer, except to notify them that further collection efforts will be pursued or that a lawsuit will be filed. Consumers complain that Lowell Financial sometimes ignores these requests and continues to contact them.
• Attempting to Collect on Time-Barred Debt (Statute of Limitations): Each state has a statute of limitations on debt, which defines the period during which a creditor or debt collector can sue to collect the debt. After this period expires, the debt is considered time-barred. While Lowell Financial can still attempt to collect on time-barred debt, it's illegal for them to threaten legal action to collect it. Many complaints involve Lowell Financial attempting to collect on such debts without properly disclosing their limitations.

What to Do If You Have a Complaint Against Lowell Financial

1. Document Everything: Keep detailed records of all communication with Lowell Financial, including dates, times, phone numbers, names of representatives, and the content of each conversation. Save all letters and emails.
2. Request Debt Validation: Send a written request for debt validation to Lowell Financial via certified mail with return receipt requested. This ensures they receive the request and provides proof of delivery.
3. Consider Sending a Cease-and-Desist Letter: If you want Lowell Financial to stop contacting you, send a cease-and-desist letter via certified mail.
4. File Complaints with Regulatory Agencies: File complaints with the Consumer Financial Protection Bureau (CFPB) and the Federal Trade Commission (FTC). These agencies can investigate Lowell Financial and take enforcement action if necessary. You can also file a complaint with your state's Attorney General's office.
5. Consider Legal Action: If Lowell Financial has violated the FDCPA or other consumer protection laws, you may have grounds to file a lawsuit. Consult with an attorney specializing in debt collection harassment.

Dealing with debt collectors like Lowell Financial can be stressful. Understanding your rights and taking appropriate action can help you resolve the issue and protect your credit.