Bank demanding to know who I owe money to

[blackrain]

I have initiated a payment paln with my creditors but one of them is refusing to agree until I say who my creditors are and the amounts owing. Do I have to tell them? I have told them the pro rata payments I am making and how much I will be paying them when they agree (going to pay even if they don't agree).

 

It's not that I have a problem telling them but I'm always interested in what these people can and can't demand and don't like giving them any more info than I need to.

[lookinforinfo]

In the interest of fairness and reciprocity, I think you should send

them those details -when they send you an accurate breakdown of how they

arrive at the charges they apply to your account.

[spotnot]

In the interest of fairness and reciprocity, I think you should send

them those details -when they send you an accurate breakdown of how they

arrive at the charges they apply to your account.

 

 

 

:lol: :lol:

 

And thats the day the devil will be ice skating to work!

[sequenci]

you should send them the details so they can see at a glance your offer is a reasonable one.

 

they are right to ask.

[blackrain]

I told them my debt level. Just not too. Let;s face it I could make it up or they could just look at my credit report. Just miffed slightly that they ignored my detailed list and sent me another form to fill in with exactly the same boxes to fill. Plus they want me to phone which I think is what is most important to them....

[harrythehawk]

I was advised to detail this in my financial statement, really I wasn't that bothered although I don't ever give unnecessary information (someone from Co-Op wanted my mobile number yesterday, yeah right). At least then they can see where any spare cash is going and where they are on the pecking order plus if pushed for more cash you can use it to your advantage in pointing out the other mouths to feed by proportion of amounts owed.

[blackrain]

True. Will post it on Monday then. Think they will be quite disappointed they aren't the biggest creditor. Going to be quite disappointed when they get the LBA too.....On the box where it asks what caused this situation I might mention the unlawful charges that mounted up and their complete ignorance when I asked for help.

 

Then again that might just rile them.

[JonCris]

blackrain do not send them anything as once they know who your other creditors are they might decide to join them a make you bankrupt or at least seize any valuable assets you have.

 

If you have made a reasonable offer that should be sufficient

[Turnaround]

You are under no obligation to offer this information what so ever.

 

All the information they require can be found when THEY do a credit search, which is more than likely. They often do this to confirm your I&E

[jonni2bad]

blackrain do not send them anything as once they know who your other creditors are they might decide to join them a make you bankrupt or at least seize any valuable assets you have...

 

I'm not quite sure why this is a consideration. The OP has not indicated (at least in this thread) that their level of debt would make this a probability and the bank debt, which I can only presume from the info, could just be an overdraft owing etc.

 

If it is a mortgage then it might be more serious but, even then, a serious offer to reduce the debt would suffice for now.

 

Perhaps I'm missing something, but this seems slightly scare-mongering.

 

To the OP, if you have produced your own I&E forms and supplied them already, then that will suffice - there's no need to repeat the info on forms they supply. If you would like more info on completing these forms and what you can / cannot claim for etc then let us know.

[Guest The Terminator]

I would tend to agree with JC here. Why give them the information as it seems to me that the banks want to have their cake and eat it too.When doe's a bank not give an answer when pressed on how they justify their "unlawful charges"

[nevos]

If you are reclaiming charges from he Bank who wants the info then, the debt is in dispute and surely they are not entitled to any info?

[JonCris]

It is not scaremongering. The other creditors joined might make it worthwhile to institute proceedings in bankrupcy

 

At the very least you should not name your other creditors only your indebtedness

[blackrain]

Hi thanks for all the advice. The level of debt is high enough to consider bankruptcy although if that's what they wish to do then I'm not overly bothered as I spent a fair amount of time last year looking into all the ins and outs of that.

 

I have no assets, property, savings or even a car so I can't see what they would gain by making me bankrupt. I'm offering the payment plan as one last try to reduce the debt as much as possible over a couple of years and then see if I am in a position to do something else later.

[sequenci]

It is not scaremongering. The other creditors joined might make it worthwhile to institute proceedings in bankrupcy

 

At the very least you should not name your other creditors only your indebtedness

 

yes they *could* do that but in reality I can't remember when that last happened (I work as an adviser within the money advice industry). If these details are not supplied then the creditor is more likely to use other action such as going down the county court route. the reason they ask for this info is so that they can see that a pro-rata offer is being made and that the expenditure figures for things such as food etc are reasonable.

[blackrain]

Going to fill it in and post it tomorrow. They want me to ring the details in which is a bit odd asking me to fill a form out and phone the details through but I want everything in writing so I will comply with their request for info but by post.

 

Thanks sequenci and everyone else.

[blackrain]

Although if they can see my credit report then why don't they just look there?

[blackrain]

Is it ok to put down family members as creditors if you genuinely owe them money? If the banks do end up trying to make me bankrupt I'd want my parents to get their share too as they helped my wife and I out a few years back.

[jonni2bad]

It certainly is...

[dizzydeedee]

So can any company just search your credit records without your permission? I thought that was Data Protection??

[sequenci]

Is it ok to put down family members as creditors if you genuinely owe them money? If the banks do end up trying to make me bankrupt I'd want my parents to get their share too as they helped my wife and I out a few years back.

 

debts to family + friends are usually view as priority debts, certainly put them down!

[blackrain]

debts to family + friends are usually view as priority debts, certainly put them down!

 

THANKS!

[Jase1982]

Just out of pure interest - Why are debts to family and friends considered a priority?

[sequenci]

Just out of pure interest - Why are debts to family and friends considered a priority?

 

becuase non-payment can cause all sorts of issues (divorce etc!). i guess it could be open to abuse and you may be asked to prove the debts exist.

[nevos]

Hi, They won't get together and make you bankrupt do not worry about that. If they did then they will all get nothing. Just make your arrangements and stick to them. When I did mine I put it all on a spread sheet, some will may file in th e CC.

 

A friend of mine recently did an arrangement, I made a spreadie for them, most of the money was owed to Nat West in loans and C/cards, they were paying over £200 per month on arrangement then Nat West took them to court, now paying £49 per month on £40K. The decision to take them to court came from those moorons in Telford..