DD not taken CCJ action threatened

Muntie88

i have been paying a loan back on a regular monthly basis, payments coming out of my bank the 1st of each month. in october the direct debit was taken out on the 27, (26 days late). i cancelled the d/d so i could question this. i was informed that no payments had been made or received on the account since august, i had not been informed of this, and there were funds available to make these payments. i called my bank who confirmed that the payment on the 27/10 had been cleared from my bank and paid to speedloan, who are stating that the payment bounced! shows on my statement that it didn't! i have now been told that i need to send in my bank statement to show the payment for october was made and cleared. i have since been contacted by speedloan informing me that if i don't make payments then i will receive a ccj. i explained to speedloan that i need a copy of the paymenst that have been made so that i can question this with my bank. however, if there are funds available and speedloan don't apply for the direct debit where does the blame lie? should i have not taken it for granted that d/d would go out as thought and agreed?? any help or advice would be great, hope it makes sense!

Quentin

Speedloan are not able to "hand out" a ccj.

A ccj is a county court judgement, and only given after a judge has decided in favour of the claimant or the defendant ignores the court's documents regarding the claim.

Nevertheless if you do owe them money you should engage with them to clear this up - (you can mask any details on your bank statement they have no right to see) - should they resort to issuing a court claim, then this will add to the amount you owe (if they win, then you would have to pay all the court costs), and unless you pay within a short time (28 days) the court would register a CCJ against you.

You cancelled the DD - so you need to sort out with them getting it reinstated - if they take money out late, then that is to your advantage! (And no reason for you cancelling the DD)

Muntie88

i had cancelled the dd as i did not want to incur charges from my bank, that is why the dd was set up for the 1st of each month, the dd guarantee also states '
If there are any changes to the amount, date or frequency of your Direct Debit (insert your organisation name)will notify you (insert number of) working days in advance of your account being debited or as otherwise agreed. If you request (insert your organisation name) to collect a payment, confirmation of the amount and date will be given to you at the time of the request.

i have not received any notifications to say there would be any changes in the collecting of this dd. the dd was set up in november 2009 and all payments upto july 2010 had been paid without any problems, payments missed august, september and was taken out late in october. what is the point in having a dd if they are going to take payments out as and when they feel like??? i will be speaking to my bank with regrads to the dd not being collected for august and september as i know that funds would have been available (i get paid the last working day of each of month, dd's set for the 1st of the month). i am doing my best to get this debt paid off, but need to get this matter sorted out before any dd is set up again.

PNPSUKNET

if you have the payments from aug, sept etc still just pay them and have done then argue about the dd. They can default your loan which will cost you for 6 years

Quentin

If they have been taking payments late, you have no argument with either your bank or the lender!

Your bank doesn't make any extra charges if a dd is collected from you later than expected - in fact it is to your advantage as the money remains to your credit in the bank until it is taken.

Apples2

I am completely lost as to why you considered it a good idea to cancel the Direct Debit.

The only people at all interested in your late payment are the loan company you are paying, the bank wouldn't give a hoot.
As it is the Loan company who are interested in late payments, and are also the people who took the money late, it is the Loan company who could sort out any inconvenience with little bother.

I feel congratulations are in order now you have prevented the Loan company ever receiving another penny. If you don't get this DD reinstated before the next payment comes out, expect a whole pile of misery and your credit file taking a Royal pasting.

Seriously, who is giving you advice?

i had cancelled the dd as i did not want to incur charges from my bank,

!!!!!!???
Do you think if you cancel one of your commitments it just goes away??

PNPSUKNET

its because didnt really budget well

Muntie88

i know the debt won't just go away, i have been paying but its the loan company who have failed to comply with the dd not me! i cancelled the dd as i don't want to incur charges for being in my overdraft, if there are no funds available when the loan company decide to take the payment! maybe i shouldn't have taken it for granted that the payments where being taken but hey if thats the case why set up a dd for peace of mind in the first place?!

Apples2

Muntie88 wrote: »

i cancelled the dd as i don't want to incur charges for being in my overdraft,

Weather the payment comes out on the first, the tenth, the twentieth or the last day of the Month, it is still coming out.
You seem to be implying if the money doesn't come out on the stipulated day, you are going to spend it on something else...avoid doing that..

Quentin

Muntie88 wrote: »

its the loan company who have failed to comply with the dd not me! i cancelled the dd as i don't want to incur charges for being in my overdraft, if there are no funds available when the loan company decide to take the payment!

What you seem to be in denial about is that there is no fault here by your loan company!

If they ever did attempt to take money before the due date then you would be able to sort this out via your bank (the loan company would have been in breach of the dd arrangements, and you would have every reason to be upset with them and demand they reimburse you any costs you were involved in)

But they haven't done this at all.

You are in breach of the loan arrangement (by cancelling your dd and not making the payments), and unless you sort this quickly the loan company will take very strong action against you to get their money - so do get this sorted asap and set up a new DD, otherwise long term consequences (regarding your credit rating - which will already have been marked over the missing payments) seem inevitable for you.

Muntie88

i like everyone else have a budget that i live by, dd's are set for a day when you know that funds are going to available, you leave money in the account to cover these, so therefore anything left at the end of the week regardless of the date i am going to spend