Income/Expenditures form

georgesmummy

Hi,

I've got a credit card debt which has been passed to Moorcroft Recovery. I'm already paying one off with them, they just talked to me and asked what I was able to pay. This time they want an income and expenditure form filling in over the phone.

Has anyone tried using a form from online and sending them that instead? I struggle to talk on the phone anyway due to anxiety, I'd find it much easier to cope with this way as the wait for the end to find out what they decided would be massive for me

Besides which the form I did online says I should only be paying about £18.20 a month, where I'm proposing I pay £20 a week... So they'd actually likely be getting more money from me this way...

Has anyone has any luck with doing this? I don't think I'll cope with a phone call long enough to go through an income/expenditure form

fermi

If you are going to complete an I&E, then you do it whichever way is best for you. Preferbly using an I&E form from a debt charity etc, so your budget is done fairly.

georgesmummy

I've completed one from a debt charity and have it here (my money steps by national debtline).

The man on the phone at Moorcroft told me I'd need to do one over the phone when I ring back. Is this not the case? I'm proposing I pay a higher amount back than it says I'm able anyway, I just know the length of call it would take to go through one of them will be too much for me.

I find it all quite intimidating anyway so on top of the general issues speaking on the phone I'm only just digging my head out of the sand and dealing with it, but obviously want to do so in as manageable a way as possible, on an emotional level as much as the financial one.

fermi

The National Debtline one is perfect as it is based on the principles of the "Common Financial Statement" produced for debt advisors.

The bloke from Moroncroft is telling you a load of rubbish.

If they get shirty, remind them that the FCA Rule CONC 7.3.13, says that they must have regard to the provisions of the Common Financial Statement and guidelines, and that if they refuse to accept the one you have prepared then you will be reporting them to the FCA.

Why do it on the phone anyway?

ALWAYS make all offers and I&Es IN WRITING.

That is a golden rule when dealing with debt collectors.

georgesmummy

Thank you, so if it's best done through writing am I best emailing them with the statement attached?

The agreement I already have set up was done over the phone and I found them really helpful, the bloke today was being a lot less so though. I figured the 'rules' may be different as this is a higher amount...

mum2one

Def write to them, and keep a copy of the letter yourself, when you send theirs I would send it recorded delievery, that way your have proof that it has gone through x

georgesmummy

There's an address on the letterhead, and an email address. I said I'd call back on Tuesday with my income and expenditure info (was put on the spot and expected to know I'd need it before I'd rung today which hadn't happened) and nervous about not being in contact by the date I said. I had dealings with a different company who had the other debt that I'm now paying with moorcroft and they rang a minimum of weekly, often daily. Even when I was paying regularly they'd ring the day before I paid to 'remind' me. I buried my head away again in the end as I found dealing with them so difficult, I'm worried about not keeping with what I said over the phone today in case it leads to similar phone calls

harveybobbles

DO NOT PHONE THEM. they will bully you into paying more than you want.

How old is the debt? Is it on your credit file?

Pay them what YOU can afford, not what they WANT you to pay.

Keep everything in WRITING only.

gemnomnom

I agree with all the posters above. I have paid off a debt (not to a DCA but to HMCTS) using an I&E form which I sent in an email. It is definitely possible to avoid doing it over the phone and to get it done in writing. Best of luck

harveybobbles

Please remember that only a JUDGE can ask to see your I&E forms, not some bottom feeding scumbag debt company.

fermi

harveybobbles wrote: »

Please remember that only a JUDGE can ask to see your I&E forms, not some bottom feeding scumbag debt company.

Not quite.

Anyone can "ask". But you can tell them "no".

Only a court/judge can take legally require you to provide it.