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Repayment plan question
ThierryHenry
Posts: 18 Forumite
in Loans
When requesting a payment plan for a payday loan, are you required to submit bank statements and disclose names of your other creditors?
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Comments
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Sometimes.0
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They can ask you for that information (although they often do not). But you do not have to supply it to them.
That said they don't have to agree to your proposed repayment plan either.
With any repayment plan it is fairly common to supply an Income & Expenditure statement to demonstrate you cannot afford repayments and that you are offering the creditor a fair amount based on what your circumstances and on how much you owe in total. On such an I&E statement you wouldn't usually list all your debts or the creditors, you would usually just state a figure for total unsecured creditors. Again they cannot force you to provide an I&E statement.A smile enriches those who receive without making poorer those who giveor "It costs nowt to be nice"0
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