Do I have to have to complete an I&E form?

ferry

Hi. Do I actually need to complete an Income / expenditure form for my creditors in order to make token payments?
Thanks

poppasmurf_bewdley

ferry said:

Hi. Do I actually need to complete an Income / expenditure form for my creditors in order to make token payments?
Thanks

No, but your creditors don't have to accept your offers of token payments either.  

DjangoUnchained

its probably worth it so you get an accurate picture of your situation.. you can always then do an amended one tweaked to show your creditors what you want to show them. 

ferry

Thank you. Lets assume a token payment is in place, can they still persue the debt through to say ccj even though a token plan is in place? 

sourcrates

ferry said:

Thank you. Lets assume a token payment is in place, can they still pursue the debt through to say CCJ even though a token plan is in place? 

All options are open, but if all you can afford is token payments, proven by a copy of your budget, they why would a creditor waste more money, that they won`t ever see again, on taking legal action against you, only to receive exactly the same repayments as they are getting now ?

Your budget doesn't magically alter because legal action is taken against you, your income is finite, your debt repayments are always subject to your disposable income, that includes debts subject to court judgments.

enthusiasticsaver

ferry said:

Thank you. Lets assume a token payment is in place, can they still persue the debt through to say ccj even though a token plan is in place? 

If they have already accepted token payments for now they are unlikely to pursue this through courts so a ccj is unlikely.  They may ask for an I and E when it is reviewed but if your income is low enough to justify you only making token repayments that will help you.  The problems may occur if you can afford to pay more but refuse to do so and your I and E backs that up. That still does not necessarily mean court action though.