Help required .... In a Mess!

sourcrates

Maybe, maybe not, sometimes debts are not chased at all.

When whoever picks them up writes to you, then you will know, until then, carry on as per normal.

Knotintherope

So I now have 3 defaults - all good.
Question: I have received a letter from Amex saying that my account has been cancelled and all amounts outstanding are now payable in full and also that it has been transferred to Brachers LLP Solicitors.
It sounds like its about to default but according to my credit file it is still in arrears, Best plan of action is that I maintain radio silence until the default appears then approach Brachers?

sourcrates

Amex have been known to go straight to legal action, although the debt must still default first, so be aware of any correspondence, and keep checking your credit file for the default to be registered.

A default notice should be sent in the post first off, so keep an eye out for that.

Knotintherope

I'm having to deal with Brachers for and on behalf of American Express.
I maintained radio silence as the debt had not defaulted, until they caught me out by phoning my workplace!
During that conversation I told them that I was withholding payments until the CC defaulted.
That worked because within a week it had. I have now set up a standing order paying £37 towards a £3k debt (roughly a six year payment period)
Their reply is as follows
I appreciate you have set up a standing order to pay the balance, however we require an income and expenditure form to be completed in order to show that the payment is affordable and acceptable to American Express
Please have this completed by 20/09/2024
Am I under any obligation to supply this or can you suggest a reply?
Thanks again for your help

RAS

They'd like is but you are under no obligation to provide it. 

And if you were doing a formal DMP, the amount considered acceptable can be adjusted.

sourcrates

Knotintherope said:

"we require an income and expenditure form to be completed in order to show that the payment is affordable and acceptable to American Express"

Note the above, they are obligated to make certain that the payment you have proposed is affordable to you, they don`t want to lay themselves open to an affordability complaint, nor any remedial action by the FCA, so they are asking this for your benefit, as well as their own.

Its very simple, just make the SOA show a £37 disposable income balance, the figures you quote can be made up, as long as the end result shows £37.

Its all about tactics and what makes your life easier.

ManyWays

Looking back at your SOA, you have three loans from Novuna so you should think about making an affordability claim to get the interest removed from them. See the Debt Camel website for details with templates. 

agentblackcat

ManyWays said:

Looking back at your SOA, you have three loans from Novuna so you should think about making an affordability claim to get the interest removed from them. See the Debt Camel website for details with templates. 

I agree, I have 3 novuna loans. All given to me in 2022. Just won unaffordable lending complaint and have had interest removed from the loans wiping around 18k off the total I'm due back to them. I used the template on debt camel