Need Help, Bank wants 2loan payments in month, is this right?

louisa3380

Hello
I hope someone can help me as im very confused, not sure who to talk to and if what the bank is telling me is right:
I have a bank account and loan with RBS, My loan is £6k, i pay £280 a month.
My payments go out on the 6th of the month, to make it easier over xmas i asked to change payment date to 15th, i was told no probs this will be done as of Jan as it was to late for dec (I called end of Nov) this was fine.
So 6th Dec i paid as normal £280 but then on the 15th Dec they took another £280. i spoke to the bank and was told this is normal when you change a d/d on a loan you make 2 payments in that month, even though they will still take again in Jan.After a lot of debate they have put the money back in my account until they speak to the loan customer services.
But they are basically telling me that now i havent made the second payment this month my account will be in arrears (even though they are still going to take Jan payment) and i will still need to pay it.
Surely this cant be right as now either way you work out the figures i have paid an extra payment? i am so confused. i have a young family and could not afford an extra payment this month or next.
I explained to them if i was informed at the time i would have to make 2 payments in a month i would of told them not to change d/d?
Please some one help

BenL

When you ask for a payment to be changed the bank will bring the payment forward, it is not in their interest to have you pay a payment due on the 6th of the month on the 15th. What they have done is what I have experienced as the norm in these circumstances.

You would have finished paying your loan 1 month earlier with the 2 payments being taken.

Ben

louisa3380

do i have a leg to stand on as i wasnt informed at the time?

Apples2

Ring them back and ask the scrap the whole idea. May be too late as it has already been processed though.

It really doesn't make a difference if the money goes out on the 6th or the 15th if you are paid monthly (unless you intend spending the repayment yourself before they can take it).

The money is coming out whether it be the 1st, 10th, 15th, or 28th, it makes no odds as that £280 is not yours to spend.

zppp

louisa3380 wrote: »

do i have a leg to stand on as i wasnt informed at the time?

Why would they? It is a fixed loan agreement. Fixed payment date, fixed APR and fixed repayment. They are doing it with 2 payments to stop you going into arrears with your loan.

hur575

Op ring them up as apple2 suggested, they should have told you what the cut off day. I had a loan with Halifax, and asked them to change my payment day and they told me their cut off day is 28th of the month which was great for me.

I get paid end of the month, and I had to pay urgent thing which over stretched me, so by changing the date it was helpful , so I can understand what you coming from but in that case it didn’t help as it was not explained to you, you will be late, change it back how it was or you will be always one month behind with charges added on top.

t508

the bank are only doing what they need to. you agreed to pay them 1 payment every month after you signed the loan so you cant keep moving the date back and stay upto date. You need to ring them up and put it back to what it was and then get yourself ahead so the due date can be whatever date you want.

some companies will not even let youmove the due date or offer a facility to pay on different days so these guys seem resonable to me