Do I have to provide personal financial documents to DCAs?

[trashedboy]

I' have a few debts (credit cards and overdraft) that I am unable to pay but accept are mine. Interest has been stopped on all of these a long time ago and all have been passed on to third party collectors. Most of my creditors have accepted a token £1 monthly payment.

 

One has not yet done so and is asking for proof of my student grant and loan before it will do so. The solicitor acting for them has also indicated that even with this, the least their client would accept is £5 per month. I imagine this is just an attempt to get more money from me. I've told them the others have accepted £1 for larger sums owing.

 

I don't feel comfortable sending copies of personal financial information to this company, especially if it might not even have the desired result. Whilst I can blank out reference numbers etc, the letters of entitlement still give clues to the sort of course I am on due to the amounts and type of loan and grant.

 

My question is, do I have to give them this information?

 

I'm asking them to accept a very small sum so can appreciate they might want some assurance that my circumstances are genuine. Given the way some of these companies act, however, I really don't want them to know where or what I study or who I currently bank with. If I refuse, would it reflect badly on me should it end up in court?

 

Thanks in advance for your advice.

[Pinky69]

You are not obliged to give them any personal information. You are in charge of this, not them. Tell them they will get £1 the same as everyone else and that is all you are offering. If they went to court they wouldn't get anymore as a court will not order you to pay more than you can afford. Don't let them bully you and everything in writing - don't speak to them on the phone.

[trashedboy]

Thanks. CAB person I saw didn't seem bothered by them asking for proof but didn't seem to understand my reluctance either.

Writing reply now, pointing out that on a pro rata basis they'd get far less than £1.

[Werner M]

I think the CAB are very good in what they're doing but need to have more People specialising in financial affairs ,dealing with DCA's and Banks especially;....good Luck!!

[Blondmusic]

I wish i had known this ages ago. I sometimes have DCA's writing to me every 3 months asking for proof of my income and i have sent it to them cos the CAB said so. Well no more.

 

Is there any law i can quote to them when they do ask for proof of my income or is there a template letter around here somewhere.

[Pinky69]

There is no need for a template. They simply have no right to ask you for personal information. Only a court can do that.

[Blondmusic]

I will try to create a template letter for the next time they ask me then.

[ashmk]

Blondmusic, its none of there business......... A debt collection agency is a private business and like every other private business they have no right to nose in on you.

 

There is a belief in society that the DCA says jump and the uneducated joe public says how high. This is wrong. Debt collectors have no special powers except being trained in b**s**t.

 

I would never and have never have wasted my time filling in that spam or even wasting my ink and stamps writing to them to tell them to mind there own business.

[mr.ton]

The DCA industry has built up its reputation over many years & people are brainwashed into believing that DCA's have all these powers to do/obtain this,that & the other.

Nothing is furthur from the truth.

Sites like this will help towards changing that false impression of them.

[Blondmusic]

Thanks for that ASHMK. I usually get letters asking for my financial details including my income and outgoings. I even have a pre-prepared financial statement that i send to prove i cannot afford more than £1 per month sice losing my job last year.

 

I am going to have a look at creating a template letter and see if i can post it up somewhere on here.

[ashmk]

Try this template . copy and paste between the dashes and use that.

 

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[Werner M]

......I'm sure the MODS on here are impressed with this fine,straight to the Point new Template (lol).....