can creditors insist on seeing your wage slips and bank statements

magoogy

Im trying to help someone sort their debts out but at the moment the creditors are refusing their offer and wont send a standing order form, ive helped them provide an income and expenditure form and theyve sent it to them along with proposed payment.

They are now asking for proof of income and bank statements - im just wondering if they are allowed to insist on this or should i just advise to start making the payments by cheque or standing order (details of their bank account and standing order are on the payment slips - they could use that?) and write to them again asking them to reconsider? They dont like the idea of someone getting a look at their private finances like bank statements and wage slips even though everything is done truthfully.

They keep ringing at work so ive advised them to put in writing that that must stop and all communication kept in writing.

The creditors are capital one and everyday loans.

The person lives at home with parents and works but has found to be in debt due to silly financial control when younger, they have no possessions but are buying a car on monthly terms. They have a mobile phone contact which is no where near the end as of yet.

thanks

poppasmurf_bewdley

You don't have to supply details of your income and expenditure.

But there again, they don't have to accept your payment proposals.

It just depends on whether you want to reach an amicable arrangement. Or do you have any special reason for withholding your details?

sourcrates

Personally I would not give a creditor carte blanche to look over all my private info.
Just provide enough to satisfy a reasonable request.


I would not include bank statements, but possibly a copy of there latest payslip would be ok, remember they have no right to see any of these things, and even though people say they could refuse his payment proposals, they are not supposed to refuse a reasonable payment offer, if its the best the debtor can afford.


So let them lick the toffee, but don't allow them to bite the apple !!!!

Hanky_Panky

sourcrates wrote: »

Personally I would not give a creditor carte blanche to look over all my private info.
Just provide enough to satisfy a reasonable request.


I would not include bank statements, but possibly a copy of there latest payslip would be ok, remember they have no right to see any of these things, and even though people say they could refuse his payment proposals, they are not supposed to refuse a reasonable payment offer, if its the best the debtor can afford.


So let them lick the toffee, but don't allow them to bite the apple !!!!

Why not ? You were most likely happy to do that when you wanted money from them.

magoogy

thanks everyone, on further looking with them through their affairs they seem to be in a worse pickle than ever so ive suggested they go to stepchange for help, in the meantime i have helped them request cca for all the debts to see what comes up, this has been going on years by the looks of it so some of them may be statue barred now.....

hanky panky - in no way was I responsible or happy to take money off them, before commenting anything that isnt helpful please take time to actually read the post - thanks.....

poppasmurf - i just dont think its appropriate for them to see all financial personal details, its a bit intrusive in my eyes but there is nothing to hide

sourcrates

magoogy wrote: »

hanky panky - in no way was I responsible or happy to take money off them, before commenting anything that isnt helpful please take time to actually read the post - thanks.....

He likes the attention...........;) !!!

poppasmurf_bewdley

magoogy wrote: »

poppasmurf - i just dont think its appropriate for them to see all financial personal details, its a bit intrusive in my eyes but there is nothing to hide

In response, let us suppose they were going to be helped out by a benevolent fund and they wanted the same details, would you then consider it intrusive for the BF to want the same details?

I say this as a retired friend of mine was recently helped out by a BF and they wanted all bank statements for the last year, plus details of all benefits and debts, which she was only too happy to supply.

But there again, this was to receive money, not pay off debts.

Iwanttobefree

Hanky_Panky wrote: »

Why not ? You were most likely happy to do that when you wanted money from them.

My unsecured debt was all given to me based on a few mouse clicks and a few simple questions such as my income, any other income.

If they are prepared to send say a card to my door with a 5k limit with zero proof of income then why should they get to see my bank statement (which I would not have provided for anything except possibly a mortgage) if I find myself struggling to pay?

FireWyrm

Hanky_Panky wrote: »

Why not ? You were most likely happy to do that when you wanted money from them.

Really? I've only ever had to provide my payslips to one lender, and that was for a mortgage. I have never had to supply my private financial details to any unsecured creditor.

magoogy

again, thank you everyone, im just glad i could help and stop someone feeling suicidal, i think there should be sort of register also to stop these vultures sucking on the vulnerable - where vulnerable people are registered on a database and financial companies have to check someone isnt registered before sending them offers of loans and cards, etc............

again, thanks

Hanky_Panky

magoogy wrote: »

thanks everyone, on further looking with them through their affairs they seem to be in a worse pickle than ever so ive suggested they go to stepchange for help, in the meantime i have helped them request cca for all the debts to see what comes up, this has been going on years by the looks of it so some of them may be statue barred now.....

hanky panky - in no way was I responsible or happy to take money off them, before commenting anything that isnt helpful please take time to actually read the post - thanks.....

poppasmurf - i just dont think its appropriate for them to see all financial personal details, its a bit intrusive in my eyes but there is nothing to hide

I wasn't replying to you directly nor did I think it was you that had incurred the debt - I can read just fine.

However - quite simply your 'friend' was most likely quite happy to disclose their financial details when applying for the credit it doesn't seem unreasonable to ask for it again now that they claim they can't pay it back. As another poster stated they don't have to cooperate and accept an offer of payment if it can't be substantiated. They can of course allow it to go to court and let them decide (at which point the court will insist on a financial statement) but by that point even more costs will be added.

I don't subscribe to the idea that now things have turned for the worse you should immediately start to get cagey with the lender - sometimes you are cutting off your nose to spite your face, more common sense is needed.