Why Don't People Use Direct Debit??

The 0% deals are usually involving people who have transferred a creditcard debt to a 0% card. If they are late in paying to the card, then they lose the 0% deal - but can sometimes appeal this.

If they use a Direct Debit when setting this up, it can sometimes take a while for the transaction to be set up. This means that the BT goes through, the DD is set up - but still being processed so the 1st payment may need to be done manually even though you have set up a DD. It is not unfortunately instantaneous

because they are bloody stupid.

exel1966 wrote: »

I supect most don't even consider it as they stick to the way they've always done it by doing it manually at a bank/by post/BACS/by phone etc.

Most won't be aware of the possible consequences of paying 1 day late, some won't care til it's too late, some are lazy when it comes to their own finances, some are living close to the wind financially/on the breadline and have been caught out by DD payments going out therefore refuse to use it, some have a mistrust of organisations in general and refuse to give these companies power to take money from their accounts. There are probably a multitude of other reasons.

One thing's for sure though, If you set up a DD for the minimum, you'll never ever have to pay a £12 late penalty fee and more importantly tarnish your credit record.

It isn't lazyness on my part...infact I was lazier with my finances when I used DD to pay off my credit card as I never bothered checking what I was spending and use to put the statements away with barely a glance because it was all taken care off by others, and so easy and pleasant to forget about.:o

It was a couple of instances where the money wasn't paid into my bank on time and therefore the DD didn't go through to Barclaycard with the resulting interest, late payment and card being stopped for a month that made me finally sit up and rethink how I paid, and also take a good look at what I was wasting money on at the same time.

Now for the last couple of years I pay myself, online and direct from my Nationwide to BC. I go through the statement and tally with the receipts in my purse and get reminded of what I have purchased. In my case, the result has been quite a marked reduction in spending on non essential things, so has worked very well for me. You do have to be very organised about doing it on time.....especially because they seem to be changing the due by dates every month of late, but I feel more in control of my finances this way.

If people managed their money better and took their head's out of the sand and took note of their payment due dates, you know done a little math and paid the bill's before going out on the razz and shopping first, they would be less in a mess wouldn’t they. I live on a tight budget and have around £70 per month residual income left, don’t have many debts but I live by the cut of my cloth, works trust me. And don't think that I am perfect cos I made plenty of the latter mistakes in my past.

I have never used DD for paying my cards and ive been paying 1 off them near on 5 years,i have my own way and it works for me . being organised and on the ball helps. not ever had 1 missed payment [touch wood- "touches jonesy's heed lol " but then again i pray at the shrine thats ST James Park.........