M&S Money

SuzieH

Hi all
Looking for advice please. We recently wrote to all our creditors saying due to finicial difficulties we couldnt pay (using the template on here) and offered the a token payment of £1 .
One of ours creditors M&S money have now asked for a list of out other creditors and how much we owe them--do I have to give them it? or I can just write creditor a ,creditor b etc??
They are saying that if they dont recieve this then they will continue to send arrears letters,interest and charges and continue to phone us.

Please can someone asvise us as we are worried sick

thanks
Suzie

SuzieH

anyone please?

joolz43

When I started my DMP with CCCS each creditor was provided with a list of my outgoings, including I think a list of other creditors and the amounts being paid to them. M&S never stopped charging interest and thankfully I have now paid them off.

saltnvinegar

SuzieH wrote: »

Hi all
Looking for advice please. We recently wrote to all our creditors saying due to finicial difficulties we couldnt pay (using the template on here) and offered the a token payment of £1 .
One of ours creditors M&S money have now asked for a list of out other creditors and how much we owe them--do I have to give them it? or I can just write creditor a ,creditor b etc??
They are saying that if they dont recieve this then they will continue to send arrears letters,interest and charges and continue to phone us.

Please can someone asvise us as we are worried sick

thanks
Suzie

Hi SuzieH

No you don't have to provide it but I don't think it is unreasonable for them to ask for this information and it would most likely work in your interests if you did.

The reasons I say this are:

1) By providing a list of your creditors and how much you owe each one M&S money can see they are being treated fairly in context of your other creditors.

2) If (and its a massive if) they decided to take you to court, you would be able to demonstrate you have tried to be reasonable in sorting out your debts and have provided this information to them as a gesture of goodwill and intent. This would not look good on them.

3) They can do a credit search and get this information anyway. Its likely that they will match the information you give them with a credit search to look for discrepencies (i.e. to check if you lying about who your creditors are and to prevent you favouring other creditors instead of them)

4) You are showing that you are serious about paying your debt and being reasonable in doing so.

Personally when drawing up my DMP, I provided all my creditors with an I/E sheet showing all my outgoings and surplus income, then a list of all my creditors, amounts owed to each and pro rata payment each company was getting.

I didn't provide any information such as bank statements, wage slips, account statements, OH financial info etc and do think that this would be providing too much information.

Good luck and let us know how you get on.

Best

SnV

SuzieH

Thanks all for your help-theyve now sent me a default notice so more hassle

PNPSUKNET

did you not provide what they asked you for?

SuzieH

They didnt give me time!! Only got letter 3 days ago