offers to dca's - what do they allow for living expenses?

olivia84

hi there,

does anyone know how debt collection agencies work when it comes to filling out income/expenditure forms? how much do they allow you for living expenses after bills? food, clothing etc - do they allow for car insurance, home phone, petrol to work?

sorry if this has already been asked - thanks

xx

olivia84

anyone got a link or anything for a budget sheet that a dca would accept?

many thanks

x

lvm

I just made up a simple income/expense spreadsheet myself.

They didn't question anything that I had on mine (although I sent mine before they asked for it).

I don't think they're going to overly scrutinise it and tell you to reduce your phone bill and cancel your car insurance but if it looks overly inflated then they may question it (although I've never heard of that).

It doesn't need to be some fancy document - just use Excel and it'll be fine.

thechippy

NEVER fill in a I&E for a dca. They have no right to see one and it gives them too much info about you.

If you are offering a F&F they don't need to see one anyway.

If you REALLY feel the need to give them some info, just say...
Income = £x
Outgoings =£x

I'll give you £x ...and if you don't like it, bog off....:D

............;)

Tixy

Hi Olivia

Is this a self-managed DMP you are doing? and want to offer them a monthly amount? Whilst mostly on a DMP you would provide an income & expenditure to show you are paying what you can afford as said above a lot of people choose not to give them this information when the debts are with a DCA.

Your choice really - if you do decide to send an I&E then you might find filling in the CCCS debt remedy tool online useful - as par way through it will come up with recommended levels of expenditure for many items, based on your household size. And to answer your other question -when you work out how much you can afford to offer them allow for everything (so yes allow for car insurance and things you don't pay monthly like car tax, car servicing & MOT etc) otherwise you won't be able to keep up with the repayments you have offered.