Can't close bank account - payday loan debts

fran1137

Hi

can anyone help? I have got myself into a right mess with payday loans and luckily read on this site that I should change my bank account and set up a payment plan. I have done this and Payplan are sending me their application pack. However, I cannot close my bank account as there is a pending visa claim for 10p!! There is £2.70 in my account but this 10p has not been properly put through, it is just pending.

They can't tell me who it's for and won't close the account until this has cleared. It was apparently requested last wednesday??

I can only think it may be the likes of Wonga cos they like to send a a small request to ensure you have funds for repayment or as they say,to verify your account. Does anyone know how I can deal with this as if i don't close the account they will all be requesting money in the next couple of days and I will have a raft of bank charges to boot!

Any help would be gratefully received...

JustinCredibleGillespie

Does your bank let you go overdrawn to clear payments even though there is such a low balance on your account?

crazyguy

fran1137 wrote: »

Hi

can anyone help? I have got myself into a right mess with payday loans and luckily read on this site that I should change my bank account and set up a payment plan. I have done this and Payplan are sending me their application pack. However, I cannot close my bank account as there is a pending visa claim for 10p!! There is £2.70 in my account but this 10p has not been properly put through, it is just pending. ( Sounds about right )

They can't tell me who it's for and won't close the account until this has cleared. It was apparently requested last wednesday??
( Ring the bank and ask if they can put a stop to any other transactions on the account )

I can only think it may be the likes of Wonga cos they like to send a a small request to ensure you have funds for repayment or as they say,to verify your account. Does anyone know how I can deal with this as if i don't close the account they will all be requesting money in the next couple of days and I will have a raft of bank charges to boot! ( while this is being set up with payplan whoever you owe the money to probably has no idea that you are doing this so the likely scenario will be lots of attempts at taking funds from your account closely followed by lots of bank charges for missed payments )

Any help would be gratefully received...

You could email the pay day lenders and explain that you are going through payplan and ask that they wait for the paper work from them.

fran1137

My bank doesn't allow overdrafts. They have advised they will close the account once this payment has gone through and then they will transfer the remaining £1.97 to my new account!

Tixy

The new account - it is with a different bank altogether isn't it?

Nothing you can do at the moment to close the account, and it is possible in this situation you might incur some bank charges - if you do and this takes you into an unauthorised overdraft then you would have to add that debt into your DMP with payplan.

poppasmurf_bewdley

It may not be connected with your 10p problem at all but I had a similar thing last week with my Visa Barclaycard account - it was showing a 10p pending transaction for three days and then it magically disappeared. I've still no idea what it was for.

fran1137

Thank you everyone - I'll check the bank again tomorrow and try to stop the transaction if it is still pending.

Tixy

Can you answer this Fran?

Tixy wrote: »

The new account - it is with a different bank altogether isn't it?

Your new account does need to be a different bank. Otherwise the payday loans will likely still be paid, and then the bank offset funds from your new account to the old one.

fran1137

Hi, yes it is a new bank completely. Everything is in place except for this problem. thanks

fran1137

I have phoned the bank again (co-op) and they have advised they cannot cancel a transaction until it 'drops onto the account'. They can't even tell me who has presented it although they have been able to tell me the time and date - 11.44 am on Weds 16th November. It is all very strange....

JustinCredibleGillespie

As long as you cant go overdrawn Fran it'll be fine. If they try to take the money it will just decline and the bank cant charge you for an attempt (at least I dont think they can) I was with Bank of Scotland and there was a credit company trying to take a small fee from my account which would have put me overdrawn and the bank wouldnt allow it, thankfully

Hope you get it sorted

JCG

xx