Do I have to supply this info to egg

lotty41

I want to offer a full and final to Egg. I received a letter from them today and they say before I can be considered I have to supply the following, Full statement of assets and liabilities, Evidence of income payslips/benefits, Most recent morgtage or rent statements, 3 most current month bank statements, Evidence of utility bills if not paid by via my bank account and details of evidence of how funds are being raised!!!
I'm just wondering if anyone else has been asked this of Egg, I've been looking on the boards for other peoples experiences of full and finals and haven't heard of anyone who has said they have to supply this information.
Does anyone know if I am obliged to do this.

Thanks Lotty

stapeley

They can ask for what ever the want. If you want them to accept a reduced amount then you have to play by their rules , Its only if they sell the debt on to a DCA that you could get a reduction .

lotty41

I spoke to M&S yesterday and they offered me a full and final settlement figure over the phone and they haven't sold it to a DCA.

GlassHalfFull

Hi Lotty41,

This seems like an excessive amount of information to me...I think the creditor can ask for what they like, but don't think you are obliged to provide it. Someone will no doubt be along soon to advise you better, but in the meantime you may find this info from the National Debtline helpful:

http://www.nationaldebtline.co.uk/england_wales/factsheet.php?page=24_full_and_final_settlement_offers

Good luck with getting your offer accepted

lotty41

It just seems a bit intrusive, thanks for the reply, I'll take a look at the link.

fermi

They can ask for what they like, but you are not obliged to send them any of it.

Equally, they are entitled to offer a F&F settlement at whatever level they choose. They aren't obliged to offer you any discount.

They are obviously using their request for the extra (and what I consider excessive as well) information to:

a) attempt to find out what you can afford rather than what you are offering.
b) whether you have disposable income that would mean that some other form of recovery might offer them a better return.
c) apply some psychological pressure to you.

The clearer you can make it that you cannot afford to settle any other way, the more likely they are to accept.

nomoneynomoney

Hi lotty41
I know that I did not need to supply any of the information that they are asking from you. I sent them my income and expenditure, a list of all my creditors and a list of how much money I was offering to each creditor.
I explained how a family member was helping me out to try and clear my debts but that this was the only money that would be available.
2 of the accounts were still with EGG and had not been passed to DCA.
I know I sent you a PM but good luck

mrsclecoco_2

Hi I sent them my cccs statement so they could see what i owe to everybody and what % people are recieving, I also sent them a copy of the cccs SOA and they accepted.
It might have been that they were the creditor i owed the least too and were only recieving a silly amount a month and would have taken me 12 years to pay. I do think what they are asking for is a bit too much. I woiuld only be happy for this info at court for a cccj for eg.

boredofbeingathome

Does seem a bit excessive. We were thinking of offering egg a full and final settlement amount as well, but don't think will bother after reading what they have asked from you. Surely that amount of info would be contradictory to DATA protection and safeguarding your details? I agree with fermi, they must be after trying to do something else.