f&f offered but they want 3 months bank statements

tiddly

Hi guys,
I have a sent a DCA a full and final offer for a debt that i have had in default for 7 years (its not on my credit report anymore - I just wanted to have it satisfied) however they have said that before they decide to take it I have to send in 3 months bank statements for a 'decision maker' to look at. The full and final offer was for 15% of the debt (I was expecting a counter offer).

I aren't very comfortable with some unknown person perusing my bank account statements. Have others had to do this to get a full and final accepted?

Thanks in advance for the words of wisdom :beer:

National_Debtline

Hi tiddly,


You are not obligated to send bank statements or wage slips in negotiations and you are absolutely within your rights to query why this would be necessary in a full and final settlement situation.


It may be to ensure that you have not taken out more credit to fund the settlement offer, and if that is the case and you can demonstrate where the money has come from (i.e. savings or a family member) you may find you don't need to send them.


As a precaution I would also suggest that you do not keep any lump sums with a bank that you have ever owed money to. Banks have the right of set off, to go into accounts and access money to pay towards debts owed. Even though the debts are with a debt collector now, they could be passed back to the bank, so you need to make sure your lump sum is out of their reach.


Laura
@natdebtline

tiddly

Thank you so much for your reply Laura!

They had tried to turn the pressure up when I spoke to them on the phone (even though they already know that I have heart and lung failure and have provided medical evidence to them on previous occasions) and said that they would not accept anything less than a 95% offer even though i have been only paying £1 a month for years. She also mentioned that getting a CCJ was still a possibility as I havent paid the debt off. It put the frighteners up me a little bit.


I will return the income/expenditure form to them but say that I have taken advice and decided not to supply my personal bank statements. As it stands my sister has given me the money so that I dont have the threats of court and CCjs to contend with in the future.

Many thanks again for the advice, I thought it sounded a bit odd and hadnt heard of anyone else on the forum having to hand over personal banking information to get a full and final accepted.

Tiddly

fatbelly

tiddly wrote: »

Hi guys,
I have a sent a DCA a full and final offer for a debt that i have had in default for 7 years (its not on my credit report anymore - I just wanted to have it satisfied)

Was there ever a period of 6 years when you did not make payments to it?

Regarding the bank statements I have a few accounts I don't use any more. If I was in your situation, I'd send them those.

I certainly wouldn't give them anything they could use against me.

tiddly

I think I have made £1 a month payments to it over the last 4 years. I had forgotten to include that CC debt when I had reached breaking point. It only popped up when I moved house so I started paying so they could see I was at least willing to pay it off rather than haul me to court (I just don't think I could deal with the stress)

I agree, although I don't really have much to hide I don't want them raking through my personal outgoings as much as the next person would.

Thanks for the input fatbelly, I will see if I have any odd accounts lying around