cancelling an IVA direct debit

PH1966

I have decided that I can no longer afford to keep paying my IVA and to be honest I feel I was wrong to enter into one.
I just tried to call my bank to ask to cancel it and they said they can't until they speak to my IVA practioner.
I thought I was dealing with my bank...what does it have to do with my IP?
Now I am not sure what I can do, woried they will prevent me from cancelling it. Should I just set up another bank account and go through the hassle of changing all my direct debits only to go BR and have to open another?

Have spent the afternoon trying to get through to CAB and no answer....need advice

thanks

Paul

peachyprice

Do you have online banking? You should be able to cancel it that way if you do.

sarahspain

Do you have on-line banking? have you tried cancelling it online?

How did they know it was for an IVA? did you mention what it was? if so I would ring back and just ask to cancel the direct debit to 'whatever appears on your statement'

Check out the direct debit guarantee, I am not sure they can stop you from cancelling it.

So_Sad_Angel

Any direct debit or standing order can be cancelled at anytime by the account holder. If they get funny about it tell them to cancel the account & all payments & open another account....It is likely you will need a new account anyway if you are taking BR.

Otherwise draw all monies out & let the payment bounce....bit drastic but what else can you do.

Speaking as a bank worker of many years ...it is your account & you control it. I am not aware of any payment types that cannot be stopped...except earning attachments etc but that has nothing to do with the bank.

Angex

PH1966

Problem is I am with Freeman Jones and I now find out the Bank and IP are parts of the same company. I have internet banking but no access to DDs or SOs

So_Sad_Angel

BTW....forgot to say Hi Paul & welcome !!!:j

PH1966

thanks Angel

So_Sad_Angel

PH1966 wrote: »

Problem is I am with Freeman Jones and I now find out the Bank and IP are parts of the same company. I have internet banking but no access to DDs or SOs

Still insist on cancelling the direct debit...say you dispute the payment & are taking further advice. Direct Debit Guarantee will protect you if they try & take any disputed collections. I would send letter to confirm your intention/wish to cancel the DDR as well. Wonder what they`d say if you were transferring DDR to another bank account...they`d have to cancel then.

Its your call but I would close the account & draw monies out asap....go to a Bank that has no connection with this Company. Coop are excellent or Barclays basic account....both do DDR/STOs & online banking.

PH1966

main problem is pay goes in there next week and can't stop it in time.
Think I have to bite the bullet this month and get a new account before the end of April.
Think it is the only way I can get away from these people.
Just wish I knew more at the time, there again hinshight is a wonderful thing and guess I wouldn't be in this position if I had it.
But I guess it must be the same for everyone, someone offers a way out and it seems the right thing to do and before you know it you are down a road trying to turn off. If I had looked at BR 18 months ago I would have been in a much better position not looking at a 9 month extension to my IVA due to a mic-calculation at the start.
The question is will it be my IP that starts proceedings or can I do it myself?

PH1966

they called me back and said they will cancel it as it is my account however they will need to let my IP know about it.
Shows what straight talking can do every now and then.
Just wait for the call from the IP now

natalouie

You are not alone in this and many people find them selves with IVA's that they simply cannot pay. I type BR forms for court and have typed the company you mention more than once with IVA failure. I would get a new account. So many IVA's were approved for people who had no hope of completing them the repayments were often too high with no allowance for emergencies, holidays or leisure! If a payment was missed the next months was more! How does that make sense if you struggled to pay the origional amount how are you going to pay more next month! You can start your own BR if that the way to go and lots of Good advice on the Forum there are also companies that do it all for you. Good Luck!
natalouie