I&E Forms

[BBoo]

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.

[SaltnVinegar]

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

[BBoo]

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.

[SaltnVinegar]

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.

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)"