Natwest- Direct Debit

fatou256

hi you havent read your whole thread but i will like to add there is no shame to go onto the Br route in this economic times. Soemtimes life throw us difficulties which can make things very difficult and almost unbearable and we are bolige to look things very differently

regarding the bank , thethey will not care if you go BR and you dont repay the loan as they will have some sort of tax relief for bad debt , so they dont loose too much. as you have quite rightly said the bank has made over the years lot of money by the backside through charge and interest and the like .......

Since i was declared Br my like is much better than beofer i have no regret so far.

Youthiswastedontheyoung

Well it turns out that regardless of the reason they 'cannot' cancel a direct debit. If the loan payment is due to go out on a date where the money is available in the current account they will take it. I apparently agreed to this.
Therefore the only way to stop a payment is to make sure there is no money left in the account before that date.
Soooooo I am now going to arrange for Decembers pay to be put into the new Co-op account and hope the switching service takes place before we get paid. Worse case scenario is it doesn't switch over, the bills get bounced and I just pay them over the phone.
I will be making sure the rent gets set up today though so it is all sorted

Not sure choosing Christmas week for all this three weeks before my second baby is going to be dragged into the world through the sunroof was a good plan. But at least the term "new year" will acctually be relevent

Thanks everyone I am managing to stay positive it could be so much worse as we will be BR (hopefully) before we even get our first phone call or letter.

pinksnapdragon82

Hi,

we had this problem this time last year with HSBC, if your worried your new account might not be open yet or your payroll needs changing sooner is there a family members account who you can get it payed into?
We had to get DH's' wages in to his mums account just to be on the safe side.

Hope it all gets sorted
x

Youthiswastedontheyoung

Thanks Snapdragon

I have spoken to the Co-op and they said they have a backlog and that it may not be transferred before Decembers pay. The lady there set up my standing order for the rent and we've informed employers/tax cred and CB of the new account and they will all be paid into the new account.
So I told the Co-op to cancel the switching over (saves them some work anyway!) and I will let the companies know individually of the change in direct debit. Any that don't do it in time I will pay over the phone when I get the letter.

Should all be fine I am determined to stay positive now so this is not a problem, just need to ring around and get everything 'tidy' before the 22nd Dec :rolleyes:

ascot64

I think you have done the best thing as using the switching service would alert Nat West to what you are doing.

Youthiswastedontheyoung

Development-

Had a letter from Natwest this morning telling me the direct debit for my loan couldn't be taken (various reasons listed) and if I need further info to go to a branch (umm no thanks). I thought it was just a standard letter they sent if you cancel a DD (even though this months payment was already in authorisation and as the above posts they said it WILL NOT BE CANCELLED UNDER ANY CIRCUMSTANCES).
So I check my online banking and there is no payment taken for the loan this month! Its just not there. I'm a little bit confused. I think I sould be happy as its more money towards the fees...but their lack of cooperation made me feel a bit better about the BR.
Ho hum