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    • theone999
    • By theone999 12th Jun 17, 11:32 PM
    • 109Posts
    • 32Thanks
    theone999
    Direct Debt missed not enough money in account, what happens now?
    • #1
    • 12th Jun 17, 11:32 PM
    Direct Debt missed not enough money in account, what happens now? 12th Jun 17 at 11:32 PM
    I was supposed to pay Virgin Media Direct Debit on the 8th. But there was not enough money in the account. I thought there was £3 more in the account than there actually was.

    Anyway, today I login to bank account (Co Operative Bank) and find that it is not overdrawn. And no money has been taken by Virgin Media. Although it says the money was "claimed" on the 8th.

    What happens now? Will I get into trouble with both Virgin Media and the bank? The bank account that was supposed to be taken out of is on a reducing overdraft plan because of financial difficulties.

    Tomorrow morning will be the 13th. I read online that if you pay the missed direct debit quickly it won't go on the credit rating as a missed payment? or am i !!!!ed already. I know gas/elec give me 28 days on a 3 month bills, but is direct debit reported much sooner?

    thanks.
    Last edited by theone999; 12-06-2017 at 11:37 PM.
Page 1
    • Arleen
    • By Arleen 12th Jun 17, 11:41 PM
    • 924 Posts
    • 684 Thanks
    Arleen
    • #2
    • 12th Jun 17, 11:41 PM
    • #2
    • 12th Jun 17, 11:41 PM
    Call them first thing in the morning and offer to make the payment, now, through something else - like a credit card. If you do that and were paying on time before, they will likely be happy with the resolution. If they won't be so happy, or you won't call, you will get late payment marker on your credit file for that month.
    • Candyapple
    • By Candyapple 13th Jun 17, 1:03 PM
    • 2,242 Posts
    • 1,700 Thanks
    Candyapple
    • #3
    • 13th Jun 17, 1:03 PM
    • #3
    • 13th Jun 17, 1:03 PM
    So was the DD taken or not? If not, then you should still be ok with your bank. How can the money be 'claimed' but not be taken?

    If you are already in a payment plan with your bank, then your credit history is likely to be poor already, so why the big panic about 1 late payment marker?

    It all depends on how soon the lender reports the data back to the CRAs as to whether you would get a late payment or not. Some do it days after a payment is supposed to be received, others end of month. Only the lender would be able to tell you this.
    I'm a Board Guide on the Credit Cards, Loans, Credit Files & Ratings boards. I'm a volunteer to help the boards run smoothly, and I can move and merge threads there. Any views are mine and not the official line of moneysavingexpert.com
    • pcman1985
    • By pcman1985 13th Jun 17, 1:36 PM
    • 112 Posts
    • 57 Thanks
    pcman1985
    • #4
    • 13th Jun 17, 1:36 PM
    • #4
    • 13th Jun 17, 1:36 PM
    Also if the DD bounced, which it sounds like did happen, then you will probably get charged by the bank.

    If this is the first time it's happened contact your bank and ask for the charges to be removed. They will likely do this for you as long as you ask nicely.
    • sourcrates
    • By sourcrates 13th Jun 17, 2:04 PM
    • 11,526 Posts
    • 11,117 Thanks
    sourcrates
    • #5
    • 13th Jun 17, 2:04 PM
    • #5
    • 13th Jun 17, 2:04 PM
    If there are insufficient funds in your account when they apply to take the DD, it will fail.

    Most organisations attempt the transaction again within 7 working days.

    Your bank may charge a failed direct debt fee, if so, as advised above, say your sorry, it won't happen again, and they will refund the fee normally.

    Make sure sufficient funds are available before they attempt collection again.
    I'm a Board Guide on the Debt-Free Wannabe, Credit File And Ratings, and
    Bankruptcy And Living With It, boards. I'm a volunteer to help the boards run smoothly, and I can move and merge posts there.
    Board guides are not moderators and don't read every post. If you spot an abusive or illegal post then please report it to forumteam@moneysavingexpert.com. Any views are mine and not the official line of MoneySavingExpert.com.

    For free debt advice, contact either : Stepchange, National Debtline, or, CAB.
    For Legal advice see : http://legalbeagles.info/
    • sheff6107
    • By sheff6107 13th Jun 17, 5:01 PM
    • 416 Posts
    • 278 Thanks
    sheff6107
    • #6
    • 13th Jun 17, 5:01 PM
    • #6
    • 13th Jun 17, 5:01 PM
    Your bank sucks! HSBC will just take the money and send you a text in the morning giving you 12 hours to bring your account back into the black. Do you have a text message overdraft warning set up?
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