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  • I&E Forms

    It is worth mentioning here, though I know it's been mentioned elsewhere on the site that it is now possible to get your own IE Sheet signed off and stamped by a Cashflow registered adviser. Usually these will be people who are registered to complete a Common Financial Statement from the Money Advice Trust on your behalf.

    The idea is that it gives your personal IE sheet the same credibility and power as a CFS completed by a professionally registered person.

    CASHflow - Login

    I am sure Niddy will probably know someone who holds this licence, so if you feel it would be helpful, get in contact with him.

  • #2
    Re: I&E Forms

    Hi Bboo

    This is certainly interesting - I guess the issue for most people on self managed DMP's is not being aware of the official 'trigger figures' for certain expenditure which this sort of 'sign off' really assists with.

    Whats also worth pointing out (in my view anyway) is that the latest guidelines from the OFT on debt collection put more weight on the CFS.

    This means that if you were to send a creditor a copy of your CFS, and they then ignored this and continued to harrass you for more money than you can afford, the new guidelines give you more leverage in demonstrating a creditors unreasonable behaviour.

    Of course the OFT guidelines have never stopped creditors/DCA's in the past, and I have no doubt they will stop them in the future either, but my whole philosophy is to build up a portfolio against my creditors so that should things ever get to court I can show that I have made every effort to resolve things, and can then portray the creditor as being the unreasonable and vexatious party.

    The fact that we can now get a 'signed off' CFS is another string to that bow.

    Best

    SnV
    "I fear all we have done is to awaken a sleeping giant and fill him with a terrible resolve."

    The consumer is that sleeping giant.!!



    I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

    If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

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    • #3
      Re: I&E Forms

      Totally agree, the more weight you can bring to bear on a creditor through whatever means, the better. You're right about the new OFT guidance, and I think it's also worth pushing the fact that if a creditor turns down a reasonable offer with either a CFS or CASHFlow statement, then they should give you an explanation why. In reality they tend not to, and I think it's worth putting them on the spot and saying you're supposed to give me a reason for refusal, what is it. I'd also be inclined to record the call or ask for it in writing.

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      • #4
        Re: I&E Forms

        Originally posted by BBoo View Post
        Totally agree, the more weight you can bring to bear on a creditor through whatever means, the better. You're right about the new OFT guidance, and I think it's also worth pushing the fact that if a creditor turns down a reasonable offer with either a CFS or CASHFlow statement, then they should give you an explanation why. In reality they tend not to, and I think it's worth putting them on the spot and saying you're supposed to give me a reason for refusal, what is it. I'd also be inclined to record the call or ask for it in writing.
        This is copied verbatim from their new revised guidelines:

        "We would have particular concerns under circumstances in which a debt recovery business rejects a debtor's repayment offer as being unacceptable – but cannot subsequently demonstrate to our satisfaction why the offer was considered to be unreasonable (for
        example, if assessed against the Common Financial Statement or equivalent)"
        "I fear all we have done is to awaken a sleeping giant and fill him with a terrible resolve."

        The consumer is that sleeping giant.!!



        I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

        If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

        Comment

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