Direct debit question

chancer63

Hi hope someone can help!
out Picture loan has passed to Webb who I believe have bought them.
had a letter saying we didn't need to do anything - things would continue as normal. We are going to struggle to make the full payment this month so I want to cancel the DD and make a reduced payment. I have gone online to do this and notice the DD has been cancelled already which must have been picture/webb. Presume they are setting a new one up by transferring info they have from picture but this means I have no info to be able to cancel as webb have given me no new DD instruction or other info. Do you think if I ring the bank they will be able to stop it? Presuming account numb will be the same but name will be Webb?
Help! :mad:

chancer63

*Bump
Anyone have any ideas?

Clarie_2

I'm not sure they can set up a DD from you without your permission - anyone else know?

RedTulip

Hi,

As I understand it, a direct debit is an instruction where the payment is taken from the customers (your) bank by the suppliers (creditors) bank, where as a standing order is a payment made by the customers (your) bank to the suppliers (creditors) bank.

Direct debits therefore have to be set up with the consent of the customer as the direct debit mandate has to be signed thus giving authority for the payment to be 'taken'

Hope that helps.

chancer63

Thanks for replies so far.
as DD has been cancelled (not by me) already and there is no sign of a new one, I am presuming that all the customer details held by Picture have been passed/sold on to Webb. The letter just said the DD will now just say Webb - as I understand DD s, then Picture were the originator, the secured loan account is still the same.
am hoping if I ring the bank they can sort it or I'm stuffed _pale_