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Providing budget breakdown to DCA

Unouan
Posts: 8 Forumite

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?
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?
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Comments
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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.Leap Day 2024 - the day of freedom. The day my pernicious debts finally died.
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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 statements0
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If you sign up at NEDCAB, you can do your budget & other self-managed stuff there: https://nedcab.cabmoney.org.uk/dmp.asp2021 Decluttering Awards: ⭐⭐🥇🥇🥇🥇🥇🥇 2022 Decluttering Awards: 🥇
2023 Decluttering Awards: 🥇 🏅🏅🥇
2024 Decluttering Awards: 🥇⭐0 -
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.2
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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?
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.I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter1 -
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.0
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