Hoist accounts transferred to Lowell: payments and your rights

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Have you got a letter from a debt collector? And is the name on it Lowell Financial? If you’ve got debt that was with Hoist and it’s now with Lowell, then this article is for you.

A change of company name or payment details can be confusing. Verify the notice and account history before sending money.

In this article, we will help you to:

Check if the debt is really yours.
Find out if you can say no to Lowell.
Learn how to make Lowell stop bothering you.
Know your choices for paying back debt or even getting rid of it.

The transfer does not remove your right to dispute an error or seek affordable repayment.

Check the account, the payment instructions and any existing arrangement using verified Lowell contact details.

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Some debt solutions have fees and may negatively affect your credit rating. MoneyNerd may receive a fee if you go ahead with a debt solution through The Debt Advice Service. For free, impartial guidance and help finding free debt advice, visit MoneyHelper.

What did the Hoist UK transfer mean for customers?

Lowell bought Hoist Finance UK in 2022. This is a past acquisition, not a new transfer affecting every reader now. Check the notice for your own account.

Your account information should be copied across accurately, but it’s worth checking your key details once this has been done.
You might already have a direct debit payment set up with Hoist. If you do, this should be switched over to Lowell, automatically.
If you currently make payments manually, you will need to find out the new bank account details to transfer your money.
If the account is reported to credit-reference agencies, Lowell says its reporting replaces Hoist’s after transfer. Check for an accurate balance and default date rather than an incorrect duplicate entry.

These are just a few things that you should check, because although the transfer process will likely work perfectly, you owe it to yourself to make sure that your account has been transferred successfully, and you are not making additional payments, or payments to the wrong payee.

Does a transfer increase the creditor’s powers?

An acquisition does not itself create new enforcement powers or cancel existing legal protections. The agreement, account history and any court order still matter. See related guidance, related guidance.

Phone calls, trying to get in touch with you to arrange repayment of your debt.
The change of owner does not justify resetting a default date or adding inaccurate negative credit information.
Do not assume that an earlier dispute, defence or arrangement disappears on transfer. Give Lowell the relevant documents and get advice about any new court papers.
Bailiffs require the relevant enforcement authority. A transferred account or a collector’s decision that it has reached the “end” of collection does not by itself authorise a bailiff visit.

What happens to an existing payment plan?

Lowell’s Hoist guidance says an existing Direct Debit payment plan stays the same when transferred. Check your notice and statements, and contact Lowell if a payment is missing or the arrangement is no longer affordable.

How the introduction works

The Debt Advice Service can discuss your circumstances and explain available options, including their benefits, costs and risks.

Options depend on your circumstances. You decide whether to proceed.

Continue to the enquiry form

What Should You Do Now?

To pre-empt any potential problems, there are a number of actions you can take, to smooth this transition period. You will find some listed below.

Check the balance and any dispute before making an extra payment simply to prevent contact. See related guidance.
Contact Lowell, with information about your financial situation, and how much you can afford to repay every month. Make an offer for monthly repayments that you can afford to meet.
Do not offer a token payment on an old disputed debt without advice about limitation. Where a debt is valid, explain your circumstances and offer only what you can afford after essentials.
A reduced settlement is discretionary. Get written confirmation that an agreed sum settles the identified balance and check how it will be recorded before paying. See related guidance.

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Some debt solutions have fees and may negatively affect your credit rating. MoneyNerd may receive a fee if you proceed with a debt solution through The Debt Advice Service. MoneyHelper offers free, impartial money guidance and help finding free debt advice.

What Will Lowell Do if You Don’t Pay Your Debt?

For an enforceable unpaid debt, a creditor may bring a court claim. Respond by the deadline. A judgment and a later enforcement application are separate steps; transfer to Lowell does not automatically produce either.