Token payments

Come_on_u_blues

Hi if we're going to make token payments to are creditors is the best way to send postal orders. The cccsva as advise us to make them while setting up an iva thanks.

To_be_Free

I sent all mine by bank transfer as it is free and postal orders cost extra.

Come_on_u_blues

Thanks to be free didn't even think of that not sounding thick how does that work sorry

To_be_Free

Come_on_u_blues wrote: »

Thanks to be free didn't even think of that not sounding thick how does that work sorry

On all your bills it should tell you their bank account number and sort code number plus your reference number just go to your bank website and click pay a bill or pay someone (different banks have different ways of doing it) but basically all are the same.

sososilly

We were warned by the CCCA not to pay token payments via our new bank account. They have had experience of the creditors going in and taking further monies without authorisation - although whether they could if it was a bank transfer i.e. you sending them the money I am not sure. We were told just don't use your new bank at all for token payments.

We decided on postal orders for peace of mind.

Come_on_u_blues

Thanks sosilly think we will stick with postal orders.

mandyl

standing order is best, its free and u set the amount

To_be_Free

sososilly wrote: »

We were warned by the CCCA not to pay token payments via our new bank account. They have had experience of the creditors going in and taking further monies without authorisation - although whether they could if it was a bank transfer i.e. you sending them the money I am not sure. We were told just don't use your new bank at all for token payments.

We decided on postal orders for peace of mind.

The only way they could do this is if you set up a direct debit to pay them.

A bank transfer is not the same as a direct debit it is like paying by a cheque but online.

sososilly

I think what the CCCS were saying to us is that the creditors will not necessarily play by the rules. I covered all possibilities with the CCCS and their answer was not to use our new account at all. They said the new account was for utilities, insurances, for your wages to go in, and not to pay any debts - a clean break.

If the bank transfer is the same as sending a cheque, then it would be cheaper, quicker and a lot easier. I personally didn't want our creditors having details of the new bank account, but that's probably me being a bit over the top. I do get a bit dramatic sometimes!

To_be_Free

sososilly wrote: »

I think what the CCCS were saying to us is that the creditors will not necessarily play by the rules. I covered all possibilities with the CCCS and their answer was not to use our new account at all. They said the new account was for utilities, insurances, for your wages to go in, and not to pay any debts - a clean break.

If the bank transfer is the same as sending a cheque, then it would be cheaper, quicker and a lot easier. I personally didn't want our creditors having details of the new bank account, but that's probably me being a bit over the top. I do get a bit dramatic sometimes!

If you feel uncomfortable in any way it is best to do the way you feel comfortable with, I wish you all the best in your quest to be debt free.

skintandfat

Why don't you set up a second current account to pay the standing orders?

Transfer the money each month, and no more. This way your creditors can't get money as there will be none there