creditor asking for proof of incomings and outgoings

mrelephant_2

I have recently sent an updated financial status of my incomings and out goings expenditures which shows i have had to reduce the amount of money i was originally paying them on an agreed reduced monthly repayment agreement. They have replied accepting the lower amount but have now asked for me to complete a financial expenditures sheet of their own to be accompanied with documentary proof of all my incoming and out goings ie: wage slips and bills. Am i legally obliged to send then such documents. I'm almost sure i once read somewhere that i do not have to send such proof, is this correct or not?

antonic

If you are on a reduced repayment basis with them AND you want to keep the arrangement going your better off giving them the information they want.

Remember YOU are asking for a favour FROM them, so give them the information they want or do you have something to hide ?? (ie is your budget a work of fiction ?).

Your not obliged to send them your payslips,(because they have your personal details on them and would be a fraudsters dream !) just your I&E details

I have a 7 year repayment arrangement with Payplan ( 10 months to go !:T:T) , and every year I have to do an accurate budget for them to send to my creditors to justify my arrangement.

happy_bunny_2

You do not have to send it to them, a court is the only one you have to fill that in for.

but as mentioned by antonic, if you want to keep on with reduced payments, you might want to fill it out, up to you.

Sparklyfairy

I agree with happy bunny - only a court can ask for your i&e & banking details. I honestly would not send them proof at all (bank statements) - your I & E you already supplied them should be sufficient. I have 7 creditors & although some asked for copies of my bank statements, all have (eventually) agreed to my DMP with my i&e only.

neverbefore2011

There's a bit of a paradox here - creditors are not allowed to ask for more than the debtor can genuinely afford, but at the same time they are not allowed to insist upon verification of the debtor's self-penned SOA

An unverified SOA is just a piece of paper with some figures on it, quite possibly containing genuine errors, not to mention deliberate falsehoods

I guess, in the absence of any verification, the creditor could alter the SOA in any way they like (by substituting their own 'estimated' figures, for example), and then return it to the debtor as unacceptable - then the debtor would no doubt feel entitled to insist that the creditor should have to provide some proof of the revised figures