cancelling DD

skinnychap

HI ALL NEWBIE HERE ,, INFACT MY 1ST POST

anyway i have been off sick from work recently and i,m not entitled to sick pay

i have a few direct debits which are due out in the next week or so and i,m not going to have the money in the bank for them
i cant afford to get slapped with bank charges as i think that would finish me off
i,ve been to the citizens advice before and they,ve managed to get me sorted out. the charges that are due out are not very big (between £3-£10?) but if i dont have the money the bank will charge me
i,m at my wits end with worry
i cant pay my rent or council tax for the next 2 weeks so what i,m really asking is
can i cancel my direct debits online and if i do that when the companies go to get the money will the bank still charge me or will the companies write to me and say they could,nt get the money & that way i may be able to come to some arrangement with them
i,m worried guy,s thanks for listening

3Dogs

If you cancel your DD's at the bank - the DD's will still come through from your creditor but the bank will return them unpaid (with no charge) - in fact when you cancel any DD the bank sends an automatic message to creditor stating DD cancelled. Any way, the creditor will then contact you saying that they could not get your payment through the DD and asking you to contact them asap to sort out payment and set up new DD

However, if you contact them before this to explain your position they are more likely to come to some arrangement - so I would advise you to get in touch with them before DD's due.

Hope this helps

skinnychap

3Dogs wrote: »

If you cancel your DD's at the bank - the DD's will still come through from your creditor but the bank will return them unpaid (with no charge) - in fact when you cancel any DD the bank sends an automatic message to creditor stating DD cancelled. Any way, the creditor will then contact you saying that they could not get your payment through the DD and asking you to contact them asap to sort out payment and set up new DD

However, if you contact them before this to explain your position they are more likely to come to some arrangement - so I would advise you to get in touch with them before DD's due.

Hope this helps

hi 3dogs thank you for responding
the problem being i wont be able to contact them before the DD comes out
i just want to make sure that the bank dont charge me i will come to some arrangement with the companies but in the meantime am i safe to go ahead and cancel just now?
thanks again

JES_F1

If you have online banking, you can cancel direct debits online. The only problem comes if it's due to leave your account within (I think) the next 24 hours. The company is made aware of the fact you've cancelled the direct debit and then get in touch to pay using a different method.

This will work as a temporary measure to stall this month's payment for perhaps a couple of weeks - and that's fine if you know that's all you need. But if you need longer to catch up, it's definitely worth contacting everyone to explain your situation.

skinnychap

JES_F1 wrote: »

If you have online banking, you can cancel direct debits online. The only problem comes if it's due to leave your account within (I think) the next 24 hours. The company is made aware of the fact you've cancelled the direct debit and then get in touch to pay using a different method.

This will work as a temporary measure to stall this month's payment for perhaps a couple of weeks - and that's fine if you know that's all you need. But if you need longer to catch up, it's definitely worth contacting everyone to explain your situation.

not due out till tuesday so do you think i would be better cancelling just now as i wont have anything for them to lift
thanx again guys

3Dogs

That will depend on your bank - we bank with NatWest and you cannot cancel a DD within 3 or 4 days of the due date, but when we were with Abbey I could cancel the day before (in your case on Monday would be fine)

It would be best to ring the bank to cancel the DD's that are in the next few days as it will be done immediately - there is no problem or questions, they just cancel them for you.

DarkConvict

Also do remember its a bank holiday, so sorting this out may take longer than you would need, as the payment process may already have started.

3Dogs

Hi again - yes of course Monday is a Bank Holiday - when you do actions like cancel DD's online over a weekend, they will not actually action it till next working day i.e. Tuesday which is when your DD is due - as it will be already being processed (creditor will send DD request a few days before it actually comes out of your account)

You best bet would be to cancel it online and then ring bank first thing Tuesay morning and ask them to cancel with immediate effect - that way you are showing that you planned to cancel it but did it late because you did no realise you had to do it a few days before due date. You need to cancel your other DD's now either online or when you ring the bank so as not to have this problem with them too.