URGENT HELP-Financial Statement & CCA Request Letters

CreditCrunchee

I've had some recent demands by some of the more forceful DCAs for financial statements before committing to another arrangement.

I've avoided this for months because I'm self-employed with an intermittent though reasonable income/cashflow.

These financial statements wouldn't be such an issue (I've been told a verbal statement will suffice for a couple of companies) if not for one of the companies demanding that my financial statement be ratified by an official body, the CCCS??

I could just 'average out' what I pull in each month but providing proof would be very difficult.
With the feast or famine over the last 2-3 years I regularly have had nothing coming in for 1-3mths then a suddenly a large lump when an invoice gets paid and the business account is temporarily flush.
As a result it's been stressful with no guarantee of the 'lumps' arriving, I'm at the mercy of my client's liquidity and payment policy/schedule.
Overall I've 'earnt' the equivalent of a sizeable salary but got a good few grey hairs along the way.

To make this even more difficult to prove my company owes me thousands that I invested some time ago to keep it going during the 9/11 downturn etc.
I pay myself the minimum allowable £4.5k salary then take what I'm owed (tax free) out of the business account when available.
Although technically my 'income' is £375 pmth (£4.5kpa) some months I take £0 whiulst others £4-6k, averaging over a year at £3-4k net per month.
This sounds like a lot but it all goes within a few days on large bills (e.g. £1050pmth school fees up until Dec'08) and overdues that have built up during the preceeding 1-3mths. Up to recently our outgoings have been c £5-6k per month so you can see how it all gets swallowed up.

The only reason we've stayed afloat and got by during these down periods is due to my wife's part-time earnings and the fact that I don't have to pay tax/NIC on these repayments, otherwise we would have undoubtedly sunk by now.

I'm determined to make a new start financially in 2009 and am ruthlessly budgeting etc. but although we are increasingly capable of continuing like this for the foreseeable (there's a faintly improving business heartbeat) I fear that if I laid this bare to the various credit/DCA companies they wouldn't take this average figure as admissable regular income.
I suppose I could copy bank statements to them and highlight the various transfers but the amounts are irregular and vary wildly.

I'm worried when they see true situation they will attempt to make me bankrupt or put a charge on my property etc. which could scupper any possible recovery (despite my continuing efforts to pay).

Worrying too much or likely?

I've been asked to provide the statements by the start of next week or pay hundreds of pounds in overdues that I don't have so I've been searching the boards for advice etc.
With so many SMEs/one man bands out there I was hoping someone else may have come across a similar query/situation or would have some perspective/definitive advice on this?

One avenue I'm seriously considering is issuing everyone with CCA requests tomorrow which should hit them all next Monday/Tuesday. This should delay or hopefully void the whole issue but I'm concerned that this may prompt harsher treatment and possible final demands? (again potential scupper)

I have to send these letters by midday tomorrow before the post office closes so if ANYONE has any advice (or letters) I'd appreciate it.

Many thanks. CC

bert&ernie

CreditCrunchie, you would probably get a better response to your threads by reposting in the Debt Free Wannabe board.

b&e