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HFC Bank and Processing Payments
Hi All,
A family member has, as of last Friday, paid the final debt in what was once a long line. My concern is that it may not have been paid quickly enough and I'm not at all sure a) what the repurcussions are if this is the case and b) if this is the right place to post the situation for advice. Guidance on one or both would be appreciated.
The financing amounted to £400 for a washing machine from Currys. The monthly payments of around a tenner a month came out and she received a letter on the 6th of October stating that the balance had to be paid in full by the 28th or the direct debits would continue for another two years, effectively adding £200 to the total amount. The kicker came with the instruction that payment could only be made by cheque (not a particularly great option due to the post generally - even before the strikes) or through online banking. As she neither had a chequebook or an online banking facility, we had to order the former and set up the latter. The full payment to clear the account (plus the early payment charge) was made before lunchtime on the 16th of October.
Is it reasonable to expect that a payment made on the 16th will clear and pay off the debt by the 28th or would HFC get away with dragging their heels to take it past the 28th? If they can and do, what impact will this have on the debt and the requirement to pay the additionally accruing interest in the next 24 months?
Cheers,
Billy
A family member has, as of last Friday, paid the final debt in what was once a long line. My concern is that it may not have been paid quickly enough and I'm not at all sure a) what the repurcussions are if this is the case and b) if this is the right place to post the situation for advice. Guidance on one or both would be appreciated.
The financing amounted to £400 for a washing machine from Currys. The monthly payments of around a tenner a month came out and she received a letter on the 6th of October stating that the balance had to be paid in full by the 28th or the direct debits would continue for another two years, effectively adding £200 to the total amount. The kicker came with the instruction that payment could only be made by cheque (not a particularly great option due to the post generally - even before the strikes) or through online banking. As she neither had a chequebook or an online banking facility, we had to order the former and set up the latter. The full payment to clear the account (plus the early payment charge) was made before lunchtime on the 16th of October.
Is it reasonable to expect that a payment made on the 16th will clear and pay off the debt by the 28th or would HFC get away with dragging their heels to take it past the 28th? If they can and do, what impact will this have on the debt and the requirement to pay the additionally accruing interest in the next 24 months?
Cheers,
Billy
Mortgage Free: 28/10/2010
Time / Interest Saved: 18.5 years / £61,866.50
0
Comments
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Why don't you ring HFC and ask if it's been recived and cleared? or is that too easy.0
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