Direct debits & loans

rarele

Another query - this time on behalf of my boyfriend.

He is hoping to do an IVA as his debt problems are bigger than mine :eek: . He has a Barclays current account & also 2 Barclays loans which are both paid out of his current account by direct debit. If he cancels these direct debits will the bank just take the money out of his account anyway?

He has been advised (by Payplan) to set up another account and is in the process of doing so but it won’t be organised before the direct debits should come out.

Any ideas?

Thanks

R

CLAPTON

It is very likely

poppy52

Can he get his salary paid into the new account, then there wouldn't be any money in the original bank for the bank to help themselves?

rarele

New account not opened yet so his (weekly) pay will have to continue going into his Barclays account.

R

poppy52

Could his employer give him pay cheques until he has opened the new account?

rarele

I think he's planning to withdraw all the money when he gets paid tomorrow but he's worried about the DDs coming out & being massively overdrawn (his pay wouldn't cover DDs anyway but it would go someway towards them - but if he leaves the money in there he'll have nothing to pay rent or buy food with once DDs go out).

I'm confusing myself now!

Thanks

R