standing order question?

vippymini

help , i want to know if i set up a standing order to a company can they refuse it?

i have the account number , the refrence number and sort code so i can set it up from my account but they say the need to set it up from there end?

they want £90 a month but i have not got it but i was thinking if i got £2.00 a week going to them its better than nothing and they are getting payment can any body advise?

specs_3

Just set it up from your end, only you can set up a standing order from your account. Make sure you keep proof of payment.

They seem to want to set up a direct debit so that they can take whatever amount they want.

vippymini

thanks so why they say they got to set it up from there end?

robnye

setting up from their end is a direct debit - they control how much they request from your bank account, whereas with a standing order you control how much you pay

vippymini

so , if i set payments up, it will go towards the dept and they cant refuse them? or will they send them back , or they just saying that as its not the payment they want?

Crown

robnye wrote:

setting up from their end is a direct debit - they control how much they request from your bank account, whereas with a standing order you control how much you pay

Totally Correct.

I did make the mistake of setting up a direct debit and the Halifax cleared the remains of what was my overdraft and put me further into debt.
Please dont make the same mistake!

Crown

vippymini wrote:

so , if i set payments up, it will go towards the dept and they cant refuse them? or will they send them back , or they just saying that as its not the payment they want?

Its very unlikely to be unaccepted. Its just like paying cash straight into there account.

I am currently paying "token" payments of £1 to my creditors when they want around £150 Minimum.

If its a bank your dealing with they may send you a default notice and sell your debt onto a debt recovery firm.

In my case it was sent to Legal and trade and im now paying off a £5000 debt at £1 a week that they accepted.

It does mess up your credit rating but mine is already totally screwed up so makes no real difference. I never want credit again!

vippymini

So basically paying a small amount is better than none,

paying by standing order and one amount has been paid they accepted your offer?

vippymini

Its a £1000 dept that was capital one and gone to dept collecter

Crown

If you make no payments at all this really goes against you as you are not shown to be prepared to repay your debt. I was advised that even £1 payemnts are better than nothing and it does show as regular payments
on your accounts.

I sent all my creditors letters with a breakdown of my living expenses and list of creditors that I put together with the CCCS.

Although all the banks did not accepted it I have continued to make payments by standing order now and until my situation improves that is all I can afford.

They cant have what you havent got is what the guy from the CCCS told me and he was correct. after making promises that I found hard to keep I now feel more in control of my situation.

Crown

Have you contacted the Debt Collector directly? I found them much more helpful than my original creditor.

you need to make sure that you do not although them to talk you into commiting to what you cant afford.

I have found that they can be rather rude at times but it seems to depend on who you speak to on the day.

As I already posted I phoned them and said all I I could afford at present was £1 a week and they accepted this as long as I stuck to the agreement.

IMO you have nothing to loose calling them and as long as you do not agree to something you cant afford you may be suprised.

At least you are willing to repay your debt. many people just dissapear or ignore them.