Debt Settlement Letters Do I have to include a budget planner?

RAS

Not trying to be awkward, but do either you or partner fully understand their annual tax liabilities as a landlord? If not, there is going to be a big bill from HMRC to deal with.

Do they have an emergency fund to cover boiler breakdown and all the other things that LLs are now legally required to pay for to meet their legal obligations. Without which it's unlikely they will be able to evict the tenants for non-payment etc?

Amberelli

RAS said:

Not trying to be awkward, but do either you or partner fully understand their annual tax liabilities as a landlord? If not, there is going to be a big bill from HMRC to deal with.

Do they have an emergency fund to cover boiler breakdown and all the other things that LLs are now legally required to pay for to meet their legal obligations. Without which it's unlikely they will be able to evict the tenants for non-payment etc?

Yes - all above board and reported in an annual tax return. There are no issues with any of the things you mention and we are very aware of the legal and financial requirements - all covered and in place.

fatbelly

Amberelli said:

My concern - if I mention this in the budget planner and assets is that they will ask about equity in the property and try to get an order. Should I therefore remove all mention of this including income and expenditure for it? Are they likely to check this or just take the budget planner as face value?

I think the phrase you are looking for is 'housing costs'.

That doesn't tell them whether it is rent or mortgage

The other useful phrase is

assets: none

Amberelli

fatbelly said:

Amberelli said:

My concern - if I mention this in the budget planner and assets is that they will ask about equity in the property and try to get an order. Should I therefore remove all mention of this including income and expenditure for it? Are they likely to check this or just take the budget planner as face value?

I think the phrase you are looking for is 'housing costs'.

That doesn't tell them whether it is rent or mortgage

The other useful phrase is

assets: none

I have added the van he uses for work which is worth about 6k but obviously a requirement for his job butI could just remove the asset part of the form I guess.

sourcrates

Lets spell this out more clearly for you, the budget planner you submit does not have to contain your actual budget figures.

Use your "imagination" to make it show the figures you want them to see.

Be creative, are you getting where I`m coming from?

fatbelly

If they are asking for a budget statement they are only really asking for income/expenditure.

If they want to find out whether he owns where he lives it will cost them £3 at the Land Registry

Amberelli

sourcrates said:

Lets spell this out more clearly for you, the budget planner you submit does not have to contain your actual budget figures.

Use your "imagination" to make it show the figures you want them to see.

Be creative, are you getting where I`m coming from?

Yes 100% - Thank you!

RAS

Phew.......

He's lucky to have such support.

Amberelli

fatbelly said:

Knowing where the debt originated and knowing that the original creditor will supply an original copy of the credit agreement from 15 years ago are two very different things.

Your National Debtline rep did not seem to be following their own script

https://nationaldebtline.org/get-information/guides/credit-agreements-getting-information-ew/

And

https://nationaldebtline.org/get-information/sample-letters/information-about-your-agreement-under-consumer-credit-act/

Better to pay £1 and find the debt is unenforceable than waste time and money on other strategies.

I've had a reply from the largest debtor and they don't have the CCA! 

RAS

Presuming that's not covered by a charging order? Stop paying. They may find it in a few months or years, or may just put it in the "not worth the effort" pile and sell on.

Concentrate on the charging order and stop paying everything else. 

P.S Hope he gives you a huge hug and brings you a cuppa in the morning.