Advice please

Seye

Hi Folks,

I have come to an arrangement with a credit ageny to pay back £238 to next. I have asked them to set up a direct debit for £30 a month untill this is paid off. They told me the best thing to do is for them to keep a note of my debit card number on file so that they can just take the money out every month instead of waiting for the direct debit. I am very wary of this as they could just take anything they want out my account. What do you all think? The credit Agency is a company called Roxburgh.

Cheers
Simon

alenax

If they can do a DD then I'd say do that. If they insist then just say you'll pay by PO. I would be wary too if I were you, I don't exactly trust credit agencies!

RAS

Hi

The best thing is that you set up a standing order.

A DCA can and some have taken more than the original DD and or removed extra money at no notice from bank accounts. If you give them your card number, there is nothing that the bank can or will do to reverse this.

Send them a cheque and ask for a standing order mandate.

savingmummy

No dont give them your details.
Set up a standing order to repay them monthly.

katsu

whatever you do don't give them your card details. Seriously, that is bad. If you do, then you cannot cancel the payment to them like you can with a direct debit. Your bank will have to give them money if they take it.

If you setup a direct debit you can tell your bank to cancel it and not pay any more money out (if you want/need to do this at some point). They can adjust the DD and tell you about it, rather than get you to agree it, I think (like when BT write to you to say your phone payment will now be £Y per month from date).

Standing orders are best as you control how much and when is paid to them. Try to set an SO up.

HTH. Good luck.

Seye

Thanks for that advice guys. From now on I will set up a standing order. A couple of companies I have set up A direct debit with but as I said alarm bells started ringing when one company wanted to keep my card details on file so they could money out every month.

Simon