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 in case you’re not sure.
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If you happen to’ve noticed posts flying round Fb about Lowell Portfolio I Ltd shedding 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 number of panic, with individuals questioning if they will cancel their Direct Debits or if their money owed have been written off.
The brief reply? No, your debt hasn’t disappeared.
Who Lowell Portfolio I Ltd really are
Lowell operates a number of firms below the identical group.
It might get complicated, however right here’s the straightforward breakdown:
- Lowell Portfolio I Ltd – this firm buys and owns money owed.
- Lowell Monetary Ltd – this firm manages and collects these money owed from clients. (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 virtually each case, the reply isn’t any, you shouldn’t cease paying.
- When you’ve got a reimbursement plan arrange, whether or not by Direct Debit, standing order, or one other technique, you continue to owe the cash.
- If you happen to cancel your funds with out an settlement in place, you might face:
- Further charges or penalties.
- Injury to your credit score rating.
- Doable authorized motion, together with a County Court docket Judgment (CCJ).
The money owed owned by Lowell Portfolio I Ltd are nonetheless legally enforceable. If you happen to’re ever doubtful, get written affirmation from Lowell earlier than making any modifications.
Skint Dad says…
“There’s a number of noise on social media about Lowell shedding its FCA authorisation, however this isn’t a get-out-of-debt-free card. If you happen to 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 probably an inner restructuring:
- Some firms within the Lowell Group maintain the money owed (like Lowell Portfolio I Ltd).
- Others accumulate the money owed (like Lowell Monetary Ltd).
- If an organization doesn’t instantly 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 by means of their different FCA-regulated firms.
What to do in case you’re apprehensive
If you happen to’ve seen the information and aren’t positive what it means for you:
- Don’t panic – shedding FCA authorisation doesn’t imply your debt is wiped.
- Hold making funds – until Lowell tells you in any other case in writing.
- Verify who you’re paying – your statements ought to present if funds are going to Lowell Monetary Ltd.
- Ask for written affirmation – you’ve the best to request an announcement 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 in case you’re struggling.
Naomi is aware of the burden of residing on little or no and have become debt free by following her personal cash saving ideas and methods. She is an skilled on saving cash on the grocery store and aspect hustles.
