Link Financial want to know the source of my money.

stu12345_2

I have a self managed dmp  and so does wife, for  about last 2.5 years , and about 6 months ago, my only creditor that never defaulted me , link financial who was assigned my aqua credit card debt, I asked for a manual default, they promised, but didn't do it .

anyway cca requests were written to creditors at the same time, all came back that debts are legal.

so I restarted dmp,  link gets £13 a month, the normal amount as a regular customer is actually £17.

we stopped our dmps this week in order to save like mad and try full and final offers months down the line as late as we can, once saved up.

so this month's dmp money which I will use to make offers, I started on the link one, I offered 30%., as it's a lowish amount  of debt owed, relatively speaking compared to other creditors., a few£ hundred( I also wrote to moorcroft so an f and f offer on a defaulted  RBS credit card, but no reply from them yet)

I stated for them to mark it as partially settled, make balance zero and dint sell it on.

link don't know they aren't getting any money this month or any month now.

they replied today saying they will consider my offer and want to know the source of the money for the f and f offer.

( technically they can't ccj me as it hasn't defaulted,)

how do I answer, without them wanting proof? 

ChampagneSupernova36

good evening stu,

I had an F&F accepted from JCIA (via CARS) and when I called to make my payment, they asked me the same question. I said it was from my wages and that was that. 

stu12345_2

well saying from my wages may really rock the boat, lol, cos as you know I'm meant to be skint, I am technically if I pay back creditors, but if I keep that money, I'm not so skint lol.

was tempted to state , it's from wife, but she also has  a debt with link, so they know she on a dmp.

could say family, or could say I won't reveal that as that's confidential 

but interested in moorcroft reply, when they reply, cos moorcroft debt has defaulted.

where link debt hasn't , and it could be many many months before they consider legal action , cos I stopped paying them now.

ChampagneSupernova36

It’s difficult to answer, really, you could have got a bonus at work ? Here are some links I used when I was drafting my offer letter;

https://nationaldebtline.org/fact-sheet-library/full-and-final-settlement-offers-ew/

https://debtcamel.co.uk/debt-options/less-common/full-final/

The second link answers a lot of your questions 

E

stu12345_2

I've read the debt camel link before, but nobody ever says it's coming from withholding your dmp payment on purpose in order to outsmart the creditors.

so I could always lie and state it's from a relative, after all they won't check, correct, and how could they?

why do they need to know, are they just being nosey 

fatbelly

You could refuse to answer or just say it's coming from a third party.

The latter is what I used to do when acting for clients.

I was never asked for more details

stu12345_2

thanks fatbelly, well my wife is also helping pay by giving it to me as she finally got her part time second job onto the correct tax code yesterday, as she has been in BR rate for 3 months.

ps, should I wait for moorcroft offer before we pay link, cos link hasn't defaulted, whereas moorcroft has.

I hope I don't get the same questions when I make further offers down the line to other creditors, I mean are they just being nosey, or what?

Rob5342

It's probably a mixture of covering themselves so they can say they checked it wasn't coming from another loan, and assessing whether it's a one off they have one chance with or if it's worth them pushing for more.

Don't overthink it, you are both playing a game with each other, just say something vague like it has been given to you.

stu12345_2

thanks Rob, sent them an email saying it's a one time gift from a third party that has had a very small windfall .

I got auto reply staring they will get back to me in 5 business days.

sourcrates

Keep it simple, don`t give them information they don`t need -

"the money is coming from a 3rd party"  that`s it.

Nothing more to add.

sparks_2023

I always used to say "overtime". They never checked.