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 when you’re not sure.
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In case you’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 not present regulated actions or merchandise. That’s triggered plenty of panic, with folks 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 beneath the identical group.
It will probably 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 remains to be authorised and controlled by the FCA.)
- Overdales Authorized Ltd – their in-house solicitors who take care of court docket motion if money owed aren’t repaid.
So, whereas Lowell Portfolio I Ltd itself is not FCA-authorised, the collections and enforcement aspect could 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’ve got a compensation plan arrange, whether or not by Direct Debit, standing order, or one other methodology, you continue to owe the cash.
- In case you cancel your funds with out an settlement in place, you may face:
- Extra charges or penalties.
- Harm to your credit score rating.
- Doable authorized motion, together with a County Courtroom Judgment (CCJ).
The money owed owned by Lowell Portfolio I Ltd are nonetheless legally enforceable. In case you’re ever doubtful, get written affirmation from Lowell earlier than making any adjustments.
Skint Dad says…
“There’s plenty of noise on social media about Lowell shedding its FCA authorisation, however this isn’t a get-out-of-debt-free card. In case you owe them cash, you continue to have to take care of it as ignoring it may 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 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 straight take care of shoppers, it doesn’t at all times want FCA authorisation.
The important thing takeaway is that the enterprise hasn’t stopped gathering money owed; they’re simply dealing with it by means of their different FCA-regulated firms.
What to do when you’re apprehensive
In case you’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.
- Preserve making funds – until Lowell tells you in any other case in writing.
- Examine who you’re paying – your statements ought to present if funds are going to Lowell Monetary Ltd.
- Ask for written affirmation – you’ve the suitable to request a press release of account displaying:
- Who owns the debt.
- How a lot is owed.
- Who’s gathering on their behalf.
- Get free debt recommendation – communicate to StepChange, Nationwide Debtline, or Residents Recommendation when 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 tips. She is an professional on saving cash on the grocery store and aspect hustles.
