Income and Expenditure

Goldie9098

Hi, I am being asked by a Debt Recovery Company to provide my income and expenditure information but can I refuse as this is my personal information? I have began paying them a fixed amount each month but they still keep hassling me for my income and expenditure information. I really don't want to share my private information. Can you please advise? Many thanks 

fatbelly

You can ignore the request

Or

You can provide them with figures that justify your payment.

stu12345_2

you don't need to as it's not insolvency law as it's an informal agreement between you and them regarding how much you pay them per month.

they want to know to see if you are paying too much or too little. and to show they are a responsible debt collection agency and not over demanding money that leaves you unable to pay regular priority bills.

it's only if you go insolvent that you produce income and expenditure, eg bankruptcy, dro, IVA ,ccj.

I mean you could send them it, if you want to create a spreadsheet to show that's all you can afford, the general consensus on this forum, is inflate  your expenses, to create a picture that you are very  skint , which allows you leeway per month in reality with your true living costs 


they can't send back the money you give them monthly ,to you.  they will just probably accept long-term what you are giving them.

Grumpelstiltskin

Yes you can refuse to tell them, but as this is your first post on here lets go back to the beginning.

Should you be paying them anyway?

Please start by reading this thread.
In Debt and Wannabe Debt Free? First Steps! — MoneySavingExpert Forum

You can use the link on there to create a SOA, is the debt enforceable?

Have they provided necessary documents? etc.

Is it your only debt?

Don't just do as they ask get yourself in a position where you fully understand the process.

Brie

They're asking to see if you can afford to pay more.  But they will understand if you are paying them a pittance as well as paying a pittance to several other companies.  On the other hand if they see you are spending huge amounts on food and entertainment they won't be pleased.  

As Grumpel says - start with the first steps thread as it's very helpful.