Capital One income and expenditure form

dropbox

Hi,

Just wanting some help from you kind people.

Basically my partner was on A DMP with gregory penington for the last 2 years and a few weeks ago we agreed that it would be wise to do a self managed DMP to avoid the huge fee.

We wrote to all the creditors to inform them that we are not with GP anymore and that due to the the arrival of our baby in oct our financial situation is bad. For now we have offered £1 token payments until situation improve.

We have heard back from Capital One , who want us to fill in a extremly detailed income&expenditure form.

The question is do we have to fill in the forms? things are extremly violatile at home and the other half has already recently been through the anxiety of filling one in for GP. In addition she doesnt feel comfortable that CAP ONE have to know about all her creditors etc..

She has had the debts due to a old boyfriend and is a very anxious person and cannot even speak to someone on the phone about this. I helped her with all communication with GP and was a authorised person on the account. Revisiting that experience would be too much for her.

What have other prople experienced? can we just write back and restate what we said in the first letter and offer the £1 token payment again without filling in that form?

Thank you soo much for your help.

DarnIt_3

No you don't have too. Just explain that the information is very private and you will not divulge. Then ask whether they still want to be paid the token payments. My guess is they will still want you paying it even if it is just because they do not want the debt to become Statute Barred.

thechippy

As above.

Or send your own simplified one.

Income = £x
Outgoings =£x

Disposable =£x

Your pro-rata payment =£x

MrsTinks

I wouldn't stop paying the token amount under any circumstance. If capOne or their minions decide to get difficult it will look an awful lot better if you have kept up these all the way through.
Given that your otherhalf is highly unstable emotionally I would suggest you speak to her midwife and warn her of this. She needs to be aware so she can keep an eye on her for post natal depression.
Also be aware that if you refuse to play ball at all with them they might start pushing for CCJs if they haven't already... Not saying there is anything you can do to stop them (ie magic loads of money) but I think it's important that you both know the likely reactions so you can be prepared for it should it happen. At that stage your OH will probably have to think about doing a SOA for the courts anyway.
Not being funny but how much is her debt and what joint financial products do you have? Ie accounts, mortgage etc? It may be that it's in her best interest to go BR....

dropbox

Sorry couldnt log on yesterday.

Thank you soo much for advice. It is reassuring to know that filling in the SOA is not mandotory. It is ironic as we send a very detailed one to gregory pennington around 6 months ago.

I will just send a letter saying that she is going through financial difficulties and send a cheque or £1 and then set up standing order.

Thank you everyone again. I really hope they dont do a CCJ as i dont think she can take all that stress. I have spoken to midwife already - thank you for the advice.

dropbox

MrsTine wrote: »

Not being funny but how much is her debt and what joint financial products do you have? Ie accounts, mortgage etc? It may be that it's in her best interest to go BR....

We dont have any joint financial product. It was her ex that got her into this massive mess. She is easily prsuaded.

She has around £17 000 of credit card debts - MBNA, natwest, capital one and barclaycard.

MrsTinks

If she doesn't have any assets like a house etc then could I suggest that you look into BR? Don't for a second think this is an easy way out and you will need to seek some independant advice but maybe if she can see an end to the issues it will be easier for her to deal with?

dropbox

hi we did consider BR - but she is soo scared of the process. Therefore we decided to go with Greg Penington and was paying £180 at a massive stretch. Now with the baby on the way things are soo tight so we will make token payments. Her dad has said that maybe in 6 months or so when his retirement comes through he might help us with the debt? not really what he means though?!

RAS

Hi

Advise Cap 1 that your lady is vulnerable; they should back off a bit. Once things calm down a bit, may be get her to speak to one of the debt charities; CAP are very good about coming to the house for face to face support?

MrsTinks

My honest view is that it would be better for her to deal with this now than have it hang over you all for years to come. Whilst it's a nice offer from her dad then it's still not certain what he can afford or if he'll be putting himself into deep trouble to deal with this debt on her behalf.
I know BR isn't pleasant by any means but processes and what have you aside... I genuinely think that you both need to speak to one of the debt charities to at least discuss the possibility again... it may be that given her vulnarable condition you can be allowed to represent her (sorry I'm woefully ignorant on this point) and help her avoid the majority of the stress for this. Once it's been addressed and BR granted she can have her life back without the risk of her dad getting himself into financial dire straits and her feeling guilty about it which won't help her at all.

los72

dropbox wrote: »

We have heard back from Capital One , who want us to fill in a extremly detailed income&expenditure form.

They sent me one regarding my payment plan with them too. I never filled it out, as you say, it's rather extremly detailed to say the least..:(

I just sent them a basic one that Payplan wrote on mybehalf. I've done this twice now, 2nd time when the payment plan with them came up for review, and they accepted it.

Hope it goes well with you with them.