Whats this about preferred creditors? and stopping payments?

In_a_Mess_3

Another question from me!

I've been reading some threads and am confused about the stopping of payments, and to who etc

We are in the process of cancelling direct debits to our loan and credit card companies, but what about the internet and satellite?

Are you meant to cancel those in case of preferred creditor or something? Its just that we changed our providers to putting it all with Sky in August as it was cheaper, and we didn't know this was going to happen.

Thing is I really don't want to cancel and risk losing the services as this place has become a bit of a lifeline to me at the moment , it is also paid as one dd payment of £52 a month which includes the phone.

Thanks as always!

lookingforhelp_2

Hi in a mess,
You don't need to cancel sky/internet. It means don't pay one credit card and leave everyone else.
HTH
Sarah

peachyprice

As Sarah says, it's only DD's for debts that you stop, not those for your normal household bills. What it means is that if you stop paying one creditor you have to stop paying all of them, not pick and choose

In_a_Mess_3

Thanks!! I thought it was that - just wanted to check!!

Off to phone my bank now and get cancelling.

TotalDespair

BR date Nov 6th will OH be accused of preferential treatment towards Santander for the HP of his car whilst not paying his credit cards/bank loan overdraft.
We are fully expecting a IPO and almost certainley a BRU as he stopped paying the bank and credit cards and loans and then :eek: took a horrendous furniture debt out with Perfect Homes the Brighthouse clone after that and then the car loan as he was left with nothing after he got divorced:eek::eek:
Hes not too worried about the IPO the BRU do you have to explain everything where your money went ooh errr ...

Lexie

peachyprice

As his car HP isn't affected by BR it's fine that he's still paying it.

get_me_debt_free

Just bumping this for you xx hugsxx