Advice r.e. Updraft email

brows897

Hi all

This thread has been so helpful, I'm in the process of starting a DMP and currently awaiting defaults on debts, including not engaging etc. in order to get defaults quicker.

Updraft (Fairscore), one of the loan providers that I have 2 loans with have sent me the below email:

Thanks for getting in touch and explaining your situation.

It would be beneficial for us to assess your financial situation in more detail so that we can come to an agreement on what would be the best payment option for you.

So that we can do this, please can you complete the Income and Expenditure form.

On receiving the filled form our team will review it and get back to you as soon as possible.If you haven’t already, do not cancel the direct debit.

Once we have agreed to a suitable solution with you, we will amend your current direct debit.If the full payment is collected while we’re looking into this for you, we will refund the difference once we have agreed to a suitable solution for you.

I should add that the DMP has yet to be signed, but there is an affordability complaint which Updraft rejected and has since been sent to the Financial Ombudsman. FOS have have got in touch and told me that are waiting for Updraft to send them more information.

Do I have to fill out the Income and Expenditure form? Would this be part of the information that Updraft will send to FOS? Or is this a precursor to Court Action etc for the 3 missed payments? Stressing a little so any advice would be welcome as to why they've asked for this now,

Grumpelstiltskin

Ignore it, wait for a letter sent by snail mail and you don't have to give them an I &E, even if you do it doesn't have to be truthful.

Nothing to do with any court action can be sent by E Mail.

brows897

Ok thanks, good to know. I'll continue my current strategy of ignoring and waiting then. I find it interesting that they've put "thanks for getting in touch..." when I haven't. Assuming that's either a mistake or they're referring to being contacted by the Ombudsman?

sourcrates

Presumably as a result of your affordability complaint, updraft have assumed that the loan at its current monthly payment, is not affordable to you, and as they have a consumer duty to be certain payments are affordable, under FCA CONC guidelines, you have received the income/expenditure form, there`s no other agenda here, its as simple as that my friend, you either fill it in and return it or you don`t.

So you now have the choice of an affordable payment plan with them, which will entail AP markers on your credit file, or you continue to ignore until it defaults as per your original plan, its up to you.