Providing budget breakdown to DCA

Unouan

Do you have to provide a budget breakdown to DCAs when setting up a repayment plan?

I have a few debts (CCA request pending) with PRA and Moorcroft. Do they need a detailed income and expenditure breakdown before accepting a repayment plan? 

sparks_2023

I did with ACI and Moorcroft.

Obviously they can check your credit report for the debts but beyond that the figures were taken on trust with no need to supply bank statements.

fatbelly

It's up to you. It's a good idea to supply them with figures that justify your position but i wouldn't be giving anyone bank statements

Floss

If you sign up at NEDCAB, you can do your budget & other self-managed stuff there: https://nedcab.cabmoney.org.uk/dmp.asp

DjangoUnchained

if youre going to do one id suggest adjusting the figures to what you want to pay and feel comfortable paying, they have no way of checking and have no legal right to demand anything otherwise. Personally i wouldnt ever do a budget breakdown for them. Simply tell them that you will pay them £x amount a month and leave it at that.

sourcrates

Unouan said:

Do you have to provide a budget breakdown to DCAs when setting up a repayment plan?

I have a few debts (CCA request pending) with PRA and Moorcroft. Do they need a detailed income and expenditure breakdown before accepting a repayment plan? 

No, is the short answer, these companies are not your friends, your buddies, or your mates, you pay them regardless of whether they accept or not, the less they know about you the better, unless your attempting to get your debts written off, then that`s a different story, but as a general rule, no one has an automatic right to see, or to have access to your personal information.

Those figures are your business, and your business alone, and nothing whatsoever to do with any 3rd party interloper, especially a debt collector.

You pay them what your budget allows, and that`s all the interaction needed.

After all, what are they going to do ? they won`t refuse a payment, frightened of them taking you to court ?
Only a debts owner can do that, and it usually won`t benefit them one iota, a court will only grant a judgement amount that is affordable, so you would pay the same, or less even regardless, which renders legal action pointless.

If a creditor/collector/debt purchaser, doesn't like what you are paying them, they will simply sell the debt to someone else, or pass it to another agency to manage, depending on the circumstances.

You never have to back up payment offers with evidence, you pay what you can afford, it`s as simple as that.
Debts change hands more often than you might imagine, they are the one`s demanding money from you, you call the shots, not them.

runforlife

DjangoUnchained said:

if youre going to do one id suggest adjusting the figures to what you want to pay and feel comfortable paying, they have no way of checking and have no legal right to demand anything otherwise. Personally i wouldnt ever do a budget breakdown for them. Simply tell them that you will pay them £x amount a month and leave it at that.

Yes.  I stopped providing budgets ages ago now. Despite the annual letters saying that they needed to make a review. I just told them this is what I am paying,