Income/expenditure forms needed to clear debt?

[Harrassed Harry]

I have debts with Robinson Way and with Mint.

 

Robinson Way took over Marbles debt, and offered me the chance to pay off less than the full amount in settlement.

 

I accepted, and they sent me a letter saying I needed to fill in an Income and Expenditure form,

and contact them about how to send the money.

 

I had already settled another similar debt with them earlier this year, without the income/expenditure form being needed.

 

That was a lot of hassle as well, with them delaying details until I phoned them to find out how to pay them.

 

I also offered Mint to pay off their debt, at a lesser amount,

and they also sent me an Income and Expenditure form, to fill in,

saying it was needed for me to pay off the lesser amount.

 

My question is – is this legal?

 

Do they need to have an I/E form to settle a debt?

 

No-one else has ever required one,

and I have settled several debts this way,

when I can afford to do so.

 

I did ask CAB about this, and they did not know,

only suggesting it was to make sure I had enough money coming in

that I would not kill myself after paying the money!

[caro]

I doubt they'd be so concerned! It's down to you to decide what you can afford. It's up to you if you want to send an i&e. Only a court can insist.

[fkofilee]

Caro is right, no I&E form is needed... And you tell them that, only a judge can force this...

[dx100uk]

why are you blindly paying discounted amounts over debts to DCA's??

 

if theres a discount on offer

 

there is MORE to be had by reclaiming PPI & Penalty fees direct from the original creditors

 

then negotiate a figure AFTER you've sent whomever is after money a CCA request

to check they have the LEGAL RIGHT to even demand money from you.

 

a DCA is NOT A BAILIFF

 

and has

 

NO SUCH LEGAL POWERS.

 

you REALLY need to stay off the phone to the too!

 

WRITING ONLY!!

 

dx

[sequenci]

Caro is right, no I&E form is needed... And you tell them that, only a judge can force this...

 

It's perfectly normal for a creditor to request an I&E form when considering a full & final settlement. It allows them to decide what's going to be more viable from a business perspective. If someone is looking to seek a decent settlement, sending an I&E should be viewed as a matter of course. Telling someone to do away with sending one is likely to jeopardise their ability to get the best deal - especially if they're on a low income.

[Harrassed Harry]

Thank you everyone.

 

Briefly, the debt is a credit card debt, in both cases.

 

The Robinson Way lot took over the Marble credit card debt last year and told me they would be contacting me in June.

They did, and said I could settle for a smaller amount.

I agreed, and then they asked for an I/E form to be filled in.

 

As I mentioned, I had already settled in a similar fashion on an earlier debt they bought up.

That was just, phone to find out to whom to make the cheque payable and to where to send it.

They WOULD NOT give me those details in a letter.

 

I sent the cheque, by recorded delivery, and it arrived April 1st this year.

Just in time for their deadline - due to them delaying writing to me.

As they did again this time. There was NO request for an I/E form in April

 

This is why I am wondering if the law has changed since then and it is necessary for one to be completed.

THEY offered ME a settlement figure that THEY had decided on.

 

With MINT, I offered a lower settlement figure because I am fed up with filling in I/Es every six months.

 

And they had already made the mistake of letting me know I was paying over the amount they said I should!

 

Then they came back with this request for an I/E form, but have not confirmed they will accept my offer.

 

I think it is just to get an I/E filled in so they can demand more money.

 

I haven't answered either letter because I wanted to be sure what the legal position is.

 

None of the other creditors I have paid off, at a lower figure, have ever asked for an I/E form as well.

 

Incidentally,

I contacted the FSA about Robinson Way and their harrassment with the previous debt, and it stopped for a year.

Then, when they contacted me again, I asked them what they would accept to settle the debt.

And got a figure, which I eventually paid.

 

I think the same person or persons are being difficult again this time, because I reported the company to FSA.

It was after that they changed their company name and claimed to be owned by another company.

[dx100uk]

are all these debts on your credit file?

 

and what are the defaulted dates please?

 

its all very well morally paying ones 'debts'

but

it will rarely do anything to improve your credit file

as the defaults are still visible for 6yrs

 

have you ever questioned any of these debts via a cca request?

 

have you ever looked at PPI/PENALTY charges reclaiming first to lower the claimed figure?

 

dx

[Harrassed Harry]

Hi again

 

What is with the PPI?

These are Credit Card debts, from Credit Cards taken out long ago.

There are no PPIs on Credit Cards.

I had the card, I spent the money, I enjoyed spending it, and

now I owe them money. No question about that.

 

I cannot afford to clear the debt in total, but

when they offer me a settlement at a lower figure, chosen by them, I am willing to accept it, if I can afford it.

 

And now I can afford the figure Robinson Way made.

 

Regarding Mint, that is just an offer in the hope that I can get those people off my back at last.

This has been going on since 2005,

and I have paid each month by SO.

 

As for my Credit Rating - that is Zero.

Frankly, I do not care about that because I shall not be taking out any more credit or looking for a mortgage.

Now it is cash only. If I can afford it, I buy it, If iI cannot afford it, I do not buy it.

 

All I want is to know, is this request for an Income and Expenditure Form to go with an offer to settle the debt ( in part, but finally ) legal?

 

Robinson Way made me the offer of a lower settlement fee. I accepted, and then they asked for this I/E form.

 

Why? If the debt is settled, why do they need an I/E form? I shall not be paying any more money to them. It is irrelevant for their purposes.

 

To me, it strikes as being yet more Provocation and Harrassment.

Just anohter way of being difficult, like when they failed to send the I/E with their letter and then delayed sending it,

after my by-return request, until it arrived 2 days before the deadline they had set for payment.

Too late to send the cheque to them.

And without telling me how to address the cheque or to where it had to be sent.

 

I do know this from the previous settlement with them in April this year, but, as this is a seperate account, they should have told me in the letter.

 

I had to deal with harrassment from them before, and contacted the FSA, when it immediately stopped.

Until the debt was 'tranferred' to a new company who wanted me to pay more each month.

The companies are both owned by the same person.

 

Regarding Mint, they have not said they will accept the settlement, or made a counter request for a large amount.

To me, this again is an attempt to make me fill in an I/E form so they can decline my offer to settle, at a lower figure,

and then once again demand an increase in my monthly fee.

This I think is worth referring to the authorities who are supposed to control the Financial Services Industry.

 

Mint shot themselves in the foot last year when I filled in an I/E form and offered to increase the monthly payment by £5

and the bimbo came back telling me it was not enough, and I should pay £39 amonth.

I was, and am, paying £47. That says a lot about the mentality of their employees.

 

So, as you can see, they just demand more and more regardless of what the minimum figure should be.

 

When this is all settled, I shall be looking to complain to whatever authority is supposed to police them.

 

I have tried to find a booklet or such detailing what they can and cannot do, but there is no such thing,

which means the oppressed victims do not know their rights.

 

I have been fighting these companies since 2005,

including having phone calls from India at 9 pm on a Sunday after having resolved problems by letter with the company in the UK.

 

That is why I am now looking to get even with them for all the years of harrassment.

 

Thank you all for your help and advice. I shall let you know how things go.

[maroondevo52]

What is with the PPI? These are Credit Card debts, from Credit Cards taken out long ago. There are no PPIs on Credit Cards.

 

Hi,

 

Are you saying there is no PPI on your Credit Cards, I have a few old Credit Cards and all had PPI attached.

 

Regards,

 

Scott.

[Harrassed Harry]

Scott

 

So far as I am aware, there were no PPIs taken out on the original credit cards. Just, fill in the application form, send it off, and thank you for the card.

 

I did have a PPI, forced on me without my consent, by the (sh)Abbey National when I took out a loan. ( £40 a month PPI if I recall correctly. )

 

However, that is a separate battle to be dealt with.

Although, that was the debt that was passed to another company,

and then to RW, which I settled, for less than the full debt, in April. Maybe that is why they accepted less?

 

That actually gives me something else to check on. Thank you.

 

I have sought help from the CAB, but without any useful result.

ie, the comment about RW and Mint wanting the I/E form and not wanting me to kill myself afrter paying them off!

[dx100uk]

you need to send them both a CCA request

 

if you've been paying/had these cards since 2005, then I bet the balance is mostly PENALT charges.

 

for want of reference please

 

ARE these debts showing on your credit file

I bet not.

 

dx

[Harrassed Harry]

Hi

 

No, these cards are not incurring interest charges. Fortunately! ( Apparently that can be 8% interest. ) I do get some statements of account, every 6 months, from most of them, and they just show Starting Balance, Payments Received, and Final Balance. No interest added to the total.

 

From Mint I get the monthly statement of account, as per the usual credit card statement, and that shows no interest added. Actually, thnking about it, I only started getting statements of account from RW after the complaint to FSA last year, and those statements come from this new company, that are dealing through RW.

 

Ref the Credit Reference File. The wording from RW says that it will be shown on my file as a part paid settlement, and that this may affect my credit rating. As if they care!

 

Ref the CCA - what difference does this make to them? I have a letter, from Marbles, telling me that the debt has been passed to RW, so does this cover that aspect of the transfer of the debt?

 

I clicked on the link, and the next one. Very interesting and probably useful. This is what I have been trying to find for a few years.

[dx100uk]

please get hard data not if maybes..

 

are these debts on your credit file?

 

if whomever you are thinking of paying does not hold your CCA [agreement]

then tough luck, you pay them nothing.

 

sorry but it appears to me you are being cash cowed

and have prob paid off debts already that were unnecessary.

 

dx

[Harrassed Harry]

Hi dx

 

Just found this in my spam folder !

 

You have set me thinking. I did receive a letter from RW but not from Marbles. I cannot remember changing the SO details from Marbles to RW. Which may mean that I am still paying Marbles, not RW.

 

I shall have to go through my files and see what correspondence I have regarding this transfer. And look at my bank statements to see if I am paying one or the other.

 

And, while I am doing that, I shall look at the other ones I have paid off. Maybe you are right, and they were not actually transferred.

 

Life could get very interesting.

 

I shall also be checking out the PPI details, for the Abbey loan, because I know I had one but did not think it covered not being able to pay, other than through unemployment or illness.

 

The only thing that I do not want to do, is upset RW so that they demand full payment immediately.

 

Thank you again for the advice.

[dx100uk]

up et rw.

 

they are a dca they are not bailiffs

and have no such legal powers.

 

don't fall for the tricks these dca's try.

 

they make out they have the whole legal word behind them

when in all reality they have no powers whatsoever.

 

you call the shots not a dca!

 

please go get you credit file.

we need that info.

 

dx

[ericsbrother]

No to I&E, they just need to tell you what they will settle at and you can then say yes or no so ask them in writing. RW can ask for anything but they cant demand it so they wont be seeking a court order otherwise they may well get an order for £1 a year so look into the PPI issue. I bet you had it slapped on the loan wthout explanation and had interest charges on top of that.

[Harrassed Harry]

Thanks again

 

Just downloaded the letter, will be sending a copy to each of them.

 

Will get the Credit File, as you insist, although I do not know what use it will be.

 

I live and learn!

 

I shall also wait for their response before writing and repeating that I am willing to accept their offer ( RW ) and making my offer to Mint again, and saying that I cannot understand the reason for the I/E if they do intend to accept my offer.

 

I know PPI was included in the original Abbey loan - and I shall be going after that as well.

[Bazooka Boo]

Will get the Credit File, as you insist, although I do not know what use it will be.

 

It will show you what exactly is on your file, if anything...

 

Plus it will show you if the data on your file is correct or if any of it is factually incorrect then you can go and demand it be corrected, Robbersway

will gladly avoid telling you if these debts are SB or unenforceable and simply put your donations into their profit pocket, this is exactly why

you get them to jump through all the hoops in the first place.

[sequenci]

If you want to get a F&F settlement, it'll be far easier and quicker to send an I&E if it is requested. Fact.

[caro]

I suggest that if you do send an I&E which may well make it easier to negotiate that you make sure that you don't underestimate your expenditure and make it look like you can afford more than you comfortably can. Also it would be unfair on your other creditors if they get the lion's share of what is available leaving your other creditors with less. I believe it's generally acceptable that debts should be paid pro rata so they all get an equal percentage of the debt.