Lowell Portfolio I Ltd has misplaced its FCA authorisation, however this doesn’t imply your debt is wiped. Right here’s what the change really means, why your repayments nonetheless matter, and what to do for those who’re uncertain.
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When you’ve noticed posts flying round Fb about Lowell Portfolio I Ltd dropping its FCA authorisation, you’re not alone.
From 18 August 2025, the corporate can now not present regulated actions or merchandise. That’s triggered a variety of panic, with individuals questioning if they will cancel their Direct Debits or if their money owed have been written off.
The quick reply? No, your debt hasn’t disappeared.
Who Lowell Portfolio I Ltd really are
Lowell operates a number of corporations underneath the identical group.
It might get complicated, however right here’s the easy breakdown:
- Lowell Portfolio I Ltd – this firm buys and owns money owed.
- Lowell Monetary Ltd – this firm manages and collects these money owed from prospects. (This a part of Lowell continues to be authorised and controlled by the FCA.)
- Overdales Authorized Ltd – their in-house solicitors who take care of courtroom motion if money owed aren’t repaid.
So, whereas Lowell Portfolio I Ltd itself is now not FCA-authorised, the collections and enforcement aspect may be very a lot nonetheless working.
Are you able to cease paying Lowell?
In nearly each case, the reply is not any, you shouldn’t cease paying.
- When you have a reimbursement plan arrange, whether or not by Direct Debit, standing order, or one other technique, you continue to owe the cash.
- When you cancel your funds with out an settlement in place, you may face:
- Further charges or penalties.
- Injury to your credit score rating.
- Attainable authorized motion, together with a County Court docket Judgment (CCJ).
The money owed owned by Lowell Portfolio I Ltd are nonetheless legally enforceable. When you’re ever doubtful, get written affirmation from Lowell earlier than making any adjustments.
Skint Dad says…
“There’s a variety of noise on social media about Lowell dropping its FCA authorisation, however this isn’t a get-out-of-debt-free card. When you owe them cash, you continue to have to take care of it as ignoring it might make issues worse.”
Why Lowell misplaced FCA authorisation
This isn’t about Lowell “going bust” or money owed being wiped. At a guess, it’s seemingly an inside restructuring:
- Some corporations within the Lowell Group maintain the money owed (like Lowell Portfolio I Ltd).
- Others gather the money owed (like Lowell Monetary Ltd).
- If an organization doesn’t immediately take care of customers, it doesn’t all the time want FCA authorisation.
The important thing takeaway is that the enterprise hasn’t stopped amassing money owed; they’re simply dealing with it via their different FCA-regulated corporations.
What to do for those who’re frightened
When you’ve seen the information and aren’t positive what it means for you:
- Don’t panic – dropping FCA authorisation doesn’t imply your debt is wiped.
- Maintain making funds – until Lowell tells you in any other case in writing.
- Test who you’re paying – your statements ought to present if funds are going to Lowell Monetary Ltd.
- Ask for written affirmation – you might have the precise to request a press release of account displaying:
- Who owns the debt.
- How a lot is owed.
- Who’s amassing on their behalf.
- Get free debt recommendation – communicate to StepChange, Nationwide Debtline, or Residents Recommendation for those who’re struggling.
Naomi is aware of the burden of dwelling on little or no and have become debt free by following her personal cash saving ideas and tips. She is an skilled on saving cash on the grocery store and aspect hustles.
