Income & Expenditure form

[pammiec]

Hi again.

I've been paying off my Natwest credit card at an agreed £5 a month for the last year and this is now up for review. Natwest have asked me to complete an I&E form. I know that I'm not legally obliged to do this, but if I refuse can they get nasty and insist that I up my payments?

I'm now working part-time, but still owe money all over the place and things are very tight. I could probably stretch to £10 a month and am willing to offer this, but I do object to filling out the I&E form.

Thanks

[sequenci]

It's standard practice for any creditor to request an I&E form simply to ensure that your offer of payment is fair and reasonable. Any debt advice charity will tell you to send one. So long as £5 is fair I can't see why any one would take issue with supplying one.

 

if you refuse they *could* decide to take things further.

[MagnaCarta]

Unless your income has risen, you can argue with the massive increase of priority bills and utility bills, you can now only afford to pay them £2.50. We are constantly being told about recession, triple dip and austerity measures. Reflect this in your next I&E form and guess what, most of it is down to the greedy banksters (Which Natwest helped create) - That'll teach 'em

[sequenci]

The budget sheet should be an accurate representaton of your true outgoings - certainly fuel, foodetc has increased - just be mindful that there are guidelines that are deemed as reasonable for the majority of outgoings - as such a budget sheet can be rejected if some of the figures are excessive.

[chattanooga]

Hi again.

I've been paying off my Natwest credit card at an agreed £5 a month for the last year and this is now up for review. Natwest have asked me to complete an I&E form. I know that I'm not legally obliged to do this, but if I refuse can they get nasty and insist that I up my payments?

I'm now working part-time, but still owe money all over the place and things are very tight. I could probably stretch to £10 a month and am willing to offer this, but I do object to filling out the I&E form.

Thanks

 

Natwest send me one of those "review" letters every six months, I have 5 now. I haven't sent them a thing and they have finally adjusted the "minimum payment" section of their statements to reflect what I am paying them.

 

I genuinely think it's just a ruse to get you to phone them. You really shouldn't pay them a penny more than you can afford.

 

Good luck.

[lee79]

They can also reject it if they regard it as excessive. I sent one to a DCA who claimed I should be spending x amount on groceries. Yet wherever I looked online the amount given were far higher than they claimed. In fact, what they claimed a family of five should be spending was less than what was given in the CAB website for just our 3 children!

[dx100uk]

I&E's should NEVER be sent to a fleecing DCA

 

dx

[lee79]

I&E's should NEVER be sent to a fleecing DCA

 

dx

 

Funny you should say that. Just a few minutes ago I opened yet another letter from BCW claiming they can't agree to my offer without it filling in. I'm ok with that

[sequenci]

I&E's should NEVER be sent to a fleecing DCA

 

dx

 

Totally disagree. if they are the legitimate owner of the debt then an offer of payment should be made - just like with any other creditor.

[dx100uk]

we don't know the background of the debt

until I do, I always bolt the door

dx

[sequenci]

we don't know the background of the debt

until I do, I always bolt the door

dx

 

Would you do the same with post april '07 debts? Massively risky if so IMO.

[dx100uk]

as said we do not know the history of lee's debt

 

until I do, I always advise bolting the door.

 

dx

[intend]

If Nat West agreed to £5 per month without seeing an I&E account I can see no problem not sending one now. If income has gone up and can be guaranteed in the near future, 12 months then I would offer more, put it in percentage terms say 20% more. If income not gone up or cannot be agreed but look to reduce it, stating rises in priority bills.