Trying to make things better and actually made them worse?

chocaholic110

Ok, in a nutshell we are trying to pay off all our debts to buy a better house which should be achievable this next year. Despite having debts have a good credit record as never missed a payment / been making over payments

BUT

wanted to pay off Egg loan faster so increased direct debit from £245 to £645.

Also wanted to pay more than that each month if we could. Asked Egg and our bank who said only way would be to set up standing order and change the amount each month depending upon how much extra we had.

First SO came out 28th Nov for £530. DD due 2nd December - came out of bank 2nd Dec (but dated 4th as 2nd was saturday). This is not showing on account and have had call from Egg to say I have missed a payment and are £115 inarrears. Argh!

Have been struggling to explain that the £530 was extra and not the payment - am also confused as usually the reduction shows straight away after DD comes out.

Very worried now that
a) the £645 has vanished somewhere
b0 it will go on my credit record as a missed payment -not what I need when want to get mortgage soon.

Anyone got any words of advice or ideas on how to avoid the same scenario next month???

tobedifferent

OK, don't panic.

So you made an addional payment via standing order then your usual payment was deducted? If you have made no changes to your DD then it should not have changed for any reason. Speak to your bank and confirm this is the case.

Regarding the additional payment get confirmation from your bank and check this with Egg, if it is there error then they cannot charge you.

If your payment due is £115 even if they did not receive that payment how can they suggest that your additional payment of £530 before the due date was not sufficient.

Calm down, get confirmation from your bank and then write to Egg, it can be sorted.

TBD
xx

tobedifferent

Oh and don't worry about spoiling your record. If you are normally a good customer and can see you have tried to make extra payments then can keep your credit rating spick and span.

x

chocaholic110

The DD due is £645 which is why I presume they think I'm £115 short (as the £530 is £115 less than this!)

I have spoken to bank who have confirmed that £645 was taken by Egg already)

So in effect they have had £1175 this month when I only need to pay £245 but they have me as in arrears by £115! Crazy!!!!

Anyone know how long it takes for a company to receive the money once they take it by DD?

Incidentally they took my Egg credit card payment the same day and that is showing as paid by Egg.

Xbigman

They should have the money by now. Phone them back tommorrow and if it hasn't shown up tell them you want to make a complaint as they have lost your money. Don't worry about it though. It will be somewhere in their system, they just need to find it.
If its any real hassle to sort out then you can demand compensation, only a few quid but it all counts.
Regards


X

chocaholic110

Well, just checked this morning and still not showing!

Has anyone had a DD "lost" before?

Paid the extra £115 so it doesn't show as missed paymanet anymore - oh well at least that Egg loan should be gone soon! (If they find my £645 of course!)

whatatwit

If you have amended the direct debit, ask the paying bank to confirm the Egg A/C number the payment on the 4th went to. You could always get an extra statement from the bank, and send egg a copy showing the money leaving your account.

Did you ask Egg to increase the direct debit amount, as I thought that DD's were requested and the requester specified the amount, but Standing Orders could be varied from the senders end.

chocaholic110

whatatwit wrote:

Did you ask Egg to increase the direct debit amount, as I thought that DD's were requested and the requester specified the amount, but Standing Orders could be varied from the senders end.

Both! I increased DD from £245 to £645 last month as knew could definitely afford to pay that but also set up a Standing order to make an additional payment each month depending upon the extra I could afford. At the end of November I had £530 left so paid that much by standing order.

Good idea about Egg loan number - will phone Barclays as soon as poss to ask about that.

whatatwit

If you asked Egg to increase DD, ask them also if they did and again to confirm the destination A/C number.

chocaholic110

Just phoned Barclays and the direct debit reference number was my Egg account number. They also confirmed that £645 left the account at the beginning of the month. Grrrr...

whatatwit

Watch out Egg, Chocaholic is on the warpath.