DMP, Capital One want proof of income, do I have to provide it?

Stewart_78

Nah, they are taking the mickey. If it goes to court, who is the court going to believe? The CAB is who. It's a recognised and credible organisation whereas most banks and debt collectors are recognised crooks. Tell them to talk again to the CAB if they didn't understand the first time. If they don't agree, don't pay them anything until they either take you to court, or submit, which they will.

heatherks

i had the same from barclaycard and didn't send it

told them my income was on I&E

a few years ago when i was on a DMP through CAB they actually asked m for proof of income / benefit and an up to date bank statement .. cheeky dmp advisor at cab said i could have been giving her any old figures and claiming i had a low income lol

FireWyrm

You owe them money, you are not their slave. These companies take liberties with your liberties and demand you jump through hoops to satisfy their particular requirements no matter how intrusive, rude or downright irrelevant. The OP has provided them with an I/E sheet compiled by a recognised charity which is sufficient for all the others except CapOne. They are not entitled to any information at all, but it is wise to provide some which the OP has done. They are however not entitled to trawl through your life and private affairs detailed in your bank statements. It is a step too far.

poppasmurf_bewdley

You don't have to agree with their request to provide the details demanded. But there again, they don't have to agree with your DMP.

If you want them to play ball with you, maybe you should play ball with them.

Hanky_Panky

poppasmurf_bewdley wrote: »

You don't have to agree with their request to provide the details demanded. But there again, they don't have to agree with your DMP.

If you want them to play ball with you, maybe you should play ball with them.

It's been said many, many times before but some people would rather be deliberately obstructive to try and prove a point.

The fact is people lie on I&E's. It's probably the one area where pretty much everyone thinks they can get away with it. Of the thousands I have seen I can't think of a single one where all the figures have been accurate and stand up to scrutiny. Admittedly this was a very long time ago. It is simply due diligence for lenders to ask for evidence to back up the claims made. I'm amazed that not everyone insists on it. People are happy enough to provide these details when applying for the loan but not when they want to re-negotiate the payments - nothing to hide here - nooo not at all .

glentoran99

Hanky_Panky wrote: »

It's been said many, many times before but some people would rather be deliberately obstructive to try and prove a point.

The fact is people lie on I&E's. It's probably the one area where pretty much everyone thinks they can get away with it. Of the thousands I have seen I can't think of a single one where all the figures have been accurate and stand up to scrutiny. Admittedly this was a very long time ago. It is simply due diligence for lenders to ask for evidence to back up the claims made. I'm amazed that not everyone insists on it. People are happy enough to provide these details when applying for the loan but not when they want to re-negotiate the payments - nothing to hide here - nooo not at all .

Sorry but thats nonsense, mine is accurate almost to the penny

Hanky_Panky

glentoran99 wrote: »

Sorry but thats nonsense, mine is accurate almost to the penny

I haven't seen yours

HappyMJ

Mine is accurate to the pound but the figures on my bank statement would not match those on a SOA. For example the council tax is paid in 10 monthly instalments and the figure on my SOA is the annual figure divided by 12. I pay the TV licence quarterly but the monthly figure is that divided by 3 and rounded up to the next pound.

Being self employed the income I get is paid gross and 40% of my gross is transferred into a savings account from which my expenses, VAT, NI and tax payments are made which do not appear on my personal SOA. 60% of the payment is tansferred into my current account on a provisional basis....i.e I might need to transfer some back to cover additional business expenses. Mileage payments are made into my current account from my business account which is not a taxable income but then I don't put business mileage expenses (extra fuel) on my personal SOA but some things such as car insurance and VED (road tax) come from my personal current account despite being effectively partially reimbursed by the business.

I've had companies look at my bank statements before and they just get thoroughly confused. I gamble (match bet) on a very regular basis making an average of 10 transactions per day which overwhelm everything else listed but none of those transactions are mentioned on an SOA. I turn over far too much on it. The profit from match betting is not taxable and not guaranteed and I use that profit as my fun money.

I can understand why the OP doesn't want the statements to form part of the payment offer. Maybe a copy of all the bills mentioned to prove the amounts on the SOA might help Capital One agree with the figures provided.

National_Debtline

glentoran99 wrote: »

Sorry but thats nonsense, mine is accurate almost to the penny

We would complete a [Common Financial Statement] compliant budget with the vast majority of our callers, and I would imagine the vast majority of those would be accurate. Of course there may be people who inflate the fugures and conversely we get some that lower them (so as to try and get on one of the debt-repayment schemes such as a Debt Management Plan). There is an element of trust, that's for sure. It's important to remember that there are guideline 'trigger' figures. So long as the budget meets these guidelines a creditor should give it serious consideration without the need for further evidence. Should a caller look for a formal solution (such as a Debt Relief Order, for example) we would generally require a bank statement.

poppasmurf_bewdley wrote: »

You don't have to agree with their request to provide the details demanded. But there again, they don't have to agree with your DMP.

If you want them to play ball with you, maybe you should play ball with them.

If the budget is complaint with the CFS, and the figures within the trigger figure amounts, Capital One would need to provide a very good reason as to why they don't accept the budget.

Capital One is being unfair with their demands, do consider a formal complaint.

Best wishes,

David @ National Debtline.

rizla_king

National_Debtline wrote: »

Capital One is being unfair with their demands, do consider a formal complaint.

Normally the best thing with Crapital 1. Most of the time is the only way forward with them.