son debt

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kev59

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Post by kev59 » Sat Nov 14, 2015 11:31 am
My son has a debt of £249 which a debt recovery company keep saying they will take him to court if not paid in full.
He is at collage full time and has no income
I offered to repay this debt and have started repaying the debt so far i've paid £49 1st payment and offered to repay the rest at £20 a month. which I made the first £20.

They will not stop action unless I give them my income and expenditure.
I dont see what my income is to do with my sons debt.
DO I have to give them my income
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kallis3

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Post by kallis3 » Sat Nov 14, 2015 11:34 am
I doubt they will take him to court for that amount as it would cost them far more than the debt!!

I don't see why you have to give them your I&E as you are making payments. Stick to your guns!!
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
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lifenoteasy

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Post by lifenoteasy » Sat Nov 14, 2015 12:00 pm
Point out that the debt is your sons and an I&E is only required for the person whose debt it is.

At this point you are paying to help out and state that you will stop doing it if they continue to be obstructive.

If they took him to court any judge would not be happy having their time wasted in this way.
IVA started March 2011, Completed March 2016 and certificate issued 11 days after final payment. It was not always easy but then some of the best decisions aren't.
 
 

kev59

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Post by kev59 » Sun Nov 15, 2015 3:15 pm
thank you for your replys,
Have now sent them a letter, telling them I believe they are being obstructive and if they carry on asking for my income.
I will withdraw my offer.
IVA now over with and it was worth it.
now starting my life again,
 
 

kallis3

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Post by kallis3 » Sun Nov 15, 2015 4:24 pm
Let us know how you get on.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
http://kallis3.blogs.iva.co.uk
 
 

plasticdaft

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Post by plasticdaft » Sun Nov 15, 2015 8:14 pm
Are they adding interest?

Paul
Discharged today the 8th feb 2012. View is much brighter now.
Continuing to rebuild our credit worthiness.
 
 

lifenoteasy

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Post by lifenoteasy » Mon Nov 16, 2015 5:36 am
An I&e is a requirement of the regulator but for you that would be like accepting the debt as your own if you completed you.

You are only helping out.
IVA started March 2011, Completed March 2016 and certificate issued 11 days after final payment. It was not always easy but then some of the best decisions aren't.
 
 

luluj

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Post by luluj » Mon Nov 16, 2015 6:00 am
I think the likelihood of court action for £249 is minimal, however think you should check they are not adding interest on it daily ..it might soon become far more than that so ensure you know for definite the true amount of debt.
Sharing from experiences of dealing with debt

There is a solution for everyone .... Just need to stay positive !

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Michael Peoples

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Post by Michael Peoples » Mon Nov 16, 2015 9:15 am
Your I&E is none of their business and the others are completely right. Your son sends an I&E showing he has no surplus but states that his family will pay £20 per month to help him clear the debt. That would be enough for any reputable firm.
Michael Peoples | McCambridge Duffy Insolvency Practitioners
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If you would like to talk to me about proposing an IVA or have any questions at all please visit www.mccambridgeduffy.com
 
 

Shining

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Post by Shining » Mon Nov 16, 2015 12:19 pm
I'm not sure if they would take your son to court or not but if they did, he'd still have no income so it would be pointless in my humble opinion.

Take the advice of the others and tell them you're helping out only and it's the I&E of your son they need not yours.
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
 
 

kev59

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Post by kev59 » Thu Nov 19, 2015 8:57 pm
So far no interest has been added and the last letter show what I have paid to date has been took of the debt in full.
I will let you know when I get a repay to my letter sent this week
IVA now over with and it was worth it.
now starting my life again,
 
 

Lisa Thomas

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Post by Lisa Thomas » Fri Nov 20, 2015 9:32 am
I understand them asking for your sons I&E details but not yours. This is none of their business. Perhaps they have worded it incorrectly and will subsequently ask your son for his I&E info. Good luck.
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: https://www.youtube.com/channel/UCMPTTu ... Z5k9ZcC2MA http://www.nevilleco.co.uk 01752 786800 Lisa@nevilleco.co.uk
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