confusion over I & E forms

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I have applied to the FO for an assessment with reference to my missold M.I.G policy, as I await his decision I seeked Legal advice with regards to my 'problem' and what I should do next as my offer for full and final has been refused on the grounds of them needing my income details. My solicitor said to fill out the I & E form and ensure that most of my salary is taken up one way or the other. I am so worried as throughout this site it is stressed under no circumstances am I to send them these details. He said that they probably wouldn't budge without these details - has anyone ever got a lender to accept an offer without divulging financial details? please help

thanks, Jessie

-- Jessie (jessie01@talk21.com), April 11, 2002

Answers

Can anyone provide some answers to this question, I am really stuck now as I don't know which way to turn. I am worried about filling out this I & E form. Has anyone ever got a lender to accept an offer without diviluging financial details ? Thanks, Jessie

-- Jessie (jessie01@talk21.com), April 18, 2002.

If you look at the recent postings there are several by people who appear to have successfully settled with their lenders at a fraction of the sums originally claimed. I have been trying to establish how they have achieved this as the general advice about not filling in I&E forms is all very well, but it's not clear how to go forward, as your question identifies. I'm hoping someone will post these details soon as I am desperate to move on with my life after more than two years of angst. My instinct at the moment is to make a 'without prejudice' offer on the basis that I don't accept their claim, but I'm willing to negotiate a settlement in order to clear my credit file.

If they insist on I&E details then I may be willing to give some of these, since I am on a low income and have no savings, but I'm not willing to divulge who I work for.

-- Gordon Bennet (arsenewhinger@hotmail.com), April 18, 2002.


Thanks for your response, I am finding it so confusing at the moment, I am being pressured into filling out these forms and this site states not to, I really am worried. I also am on a low income and have no savings but my main concern is that I live with my new partner and all bills etc are in his name, I am truly unable to provide evidence of bills etc. My lender already knows where I work but even so, this will show on any payslips if I do have to produce them later. Another major concern is my pension which I pay into, providing payslips provides info to this pension scheme, I am not sure if they can touch this but know the leeches that they are they probably can.

If you or anyone would like to add comments it really would be appreciated.

Thank you

Jessie

-- Jessie (jessie01@talk21.com), April 19, 2002.


I have recently settled with the Halifax. I put off filling out the I&E forms for ages but reached a stalemate situation. I filled them out as I had no hidden assets, although I did have some furniture on finance that I perhaps shouldn't have mentioned (but then they can probably find out your credit and finance details?????I don't know for sure)

They sent back a payment proposal which was based on me paying off my finance first and then giving them that money once the furniture was paid for!!! For the next 10 years! I told them absolutley not........and offered them 2,500 and they accepted. I had previously been offering them 1000 which they were refusing. Just make the forms balance with no excess funds, I'm sure you are skint at the end of each month anyway, right?

God luck

-- (tequilaslammas@yaahoo.co.uk), April 20, 2002.


Jessie I have just helped in solving a friends shortfall of 12.5k. The building Society wouldn't accept a full and final settlement offer without an Income and Expenditure form being completed. As my friend had no excess income over expenditure I got them to agree to an amount provided I could prove this. They said they would consider the offer when the I & E form was completed. Once we returned the I&E form the offer of 1000 was accepted within a week. Good Luck

-- (von6@uboot.com), June 10, 2002.


Not sure I trust the last posting Jessie. Be careful.

-- Gordon Bennet (arsenewhinger@hotmail.com), June 11, 2002.

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