Can Capital one ask to see bank statements?

MichaelCR

Jam_Buttie wrote: »

Been on a payment plan for over 2 years via CAB. My offer was £1.00 per month and have been paying that since.

I have since reviewed my situation and are now offering them a fiver a month. But they want to see my bank statements to see that the info I have given on my I&E form matches my bank statements.

Surely they aint allowed to ask this?

You aren't obliged to show them anything.

However they aren't obliged to take your 'Token' Payments.

They just want to check that you are infact suffering financial hardship, And not just milking the whole £5 a month thing !

Jam_Buttie

MichaelCR wrote: »

However they aren't obliged to take your 'Token' Payments.

But if it ever did get to Court, I'm sure the Judge will side with me as I've been paying?

Cap1 have had proof that my only income is Incapacity Benefit anyway...

opinions4u

Jam_Buttie wrote: »

Cap1 have had proof that my only income is Incapacity Benefit anyway...

They may have proof that you are on Incapacity Benefit.

But how does that prove you have no other income?

Jam_Buttie

Incap is paid as I'm incapable of working due to ill health. Yes I recieve DLA, but DLA isn't classed as an "income"

chuckley

wouldnt u blank everything bar incomings (benefit) anyway? i mean ur i&e is not gonna be 100% bang on. if u say £30 goes on food and ur bank statment shows u shopped @ asda and only spent £25 wouldnt they say u could use that £5 towards the debt?!

thats here it gets icky.

dont be surprised if C1 do a uturn and claim ur benefit letter aint proof.... they said my JSA letter didnt prove i was unemployed, even though it was for the full amount. HIGHlarious.

JuicyJesus

chuckley wrote: »

wouldnt u blank everything bar incomings (benefit) anyway? i mean ur i&e is not gonna be 100% bang on. if u say £30 goes on food and ur bank statment shows u shopped @ asda and only spent £25 wouldnt they say u could use that £5 towards the debt?!.

1) If you can obliterate debit card transactions from a statement, you can obliterate other sources of income as well. A statement with nearly everything else blacked out is utterly useless, because they don't know what else you've blacked out.

2) I doubt any company is pernickety enough to worry that you spent a few quid over at Asda on a couple of occasions. If you only spent a tenner a time and you were claiming you paid thirty quid, they may consider this iffy.

Jam_Buttie

My statements only show two sources of income - my Incap and my DLA.

I go to the supermakrket every other day to be honest. I buy things as I run out, rather than doing a "big shop" and spending £80 etc.

I make a note of the things needed and buy them.

JuicyJesus

Jam_Buttie wrote: »

My statements only show two sources of income - my Incap and my DLA.

I go to the supermakrket every other day to be honest. I buy things as I run out, rather than doing a "big shop" and spending £80 etc.

I make a note of the things needed and buy them.

Then to be honest you shouldn't have an issue sending the statements in.

Financial businesses cannot work solely on trust. At the end of the day they are giving you a tremendous benefit in that they are letting you pay back your debt in minute instalments free of any interest. Being asked to show bank statements in exchange for that, to me, sounds like a pretty excellent deal.

chattychappy

JuicyJesus wrote: »

Financial businesses cannot work solely on trust.

In a sense, the relationship starts that way. You write stuff on a form about your situation. Generally the CC doesn't ask you to prove anything you say, just relying on a credit check. You promise to make the repayments on time.

Then you don't make the repayments on time...

JuicyJesus

chattychappy wrote: »

In a sense, the relationship starts that way. You write stuff on a form about your situation. Generally the CC doesn't ask you to prove anything you say, just relying on a credit check. You promise to make the repayments on time.

Then you don't make the repayments on time...

Not necessarily - your credit history is easily checked, and any major discrepancies may/will flag up on National Hunter. There is a level of trust there, but only in the sense that not everything can be double checked (and I have, in fact, been asked for such information when opening an account before). Through rate for risk and similar policies they will have placed a price on your account that they feel reflects the risk of you doing something stupid.

However in a scenario where someone has broken their credit agreement and is reliant on the goodwill of their creditors, and is almost certainly running their account at a loss to the bank (as the OP certainly is - they are paying no interest and the cost of maintaining the account, including looking at their bank statements, is not nil) to check that they are not diddling you by claiming to be skint when they're perfectly solvent is prudent at the very least.

tl;dr: trust evaporates easily when you've proven you can't be trusted.