We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Default on Loan Unknowingly

13»

Comments

  • garth549
    garth549 Posts: 486 Forumite
    Part of the Furniture 100 Posts
    I think some people have been a bit harsh as well. Why didn't Tesco send an updated DD mandate to the OPs bank? This is usual practice. I've never heard of a company writing to a customer asking them to update the DD details themselves. They're the ones making the change so I don't see why the OP should have to take full responsibility.
  • Am I the only person that checks my B/A on a near daily basis, and make sure all my DD's have gone out?

    I do check mine daily!! The last time I didn't a DD went through that should have been cancelled and took me into OD. So yes, I check every day now. I've had a few narrow escapes with payments that don't go through when expected and I've been able to avoid using the OD and getting charged because of it.
  • iolanthe07
    iolanthe07 Posts: 5,493 Forumite
    I reconcile my bank statement with my own records every month. I thought everyone did this; it seems a bit obvious to me.
    I used to think that good grammar is important, but now I know that good wine is importanter.
  • coldcazzie
    coldcazzie Posts: 1,407 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    Am I the only person that checks my B/A on a near daily basis, and make sure all my DD's have gone out?

    Nope, I check mine regularly too - probably every other day.
    iolanthe07 wrote: »
    I reconcile my bank statement with my own records every month. I thought everyone did this; it seems a bit obvious to me.

    Yep, I do this too - just before Christmas I noticed a missed DD. I waited until the next month and it missed again so I rang and made a card payment. Then they set up a new DD because the old one had fallen over. There's no excuse for not noticing a missed DD.
    garth549 wrote: »
    I think some people have been a bit harsh as well. Why didn't Tesco send an updated DD mandate to the OPs bank? This is usual practice. I've never heard of a company writing to a customer asking them to update the DD details themselves. They're the ones making the change so I don't see why the OP should have to take full responsibility.

    This is an interesting question. Part of me wonders if they required a signature, but that's becoming more and more rare now.
    The address issue is odd too. I know for a fact that companies can fail to update their details. I rang our life assurance company after we moved, but having spoken to them just before Christmas they had no idea. I know I rang them because I wrote a list of all the companies and ticked them off as I spoke to them. So it is possible that they failed to update properly... that does excuse not noticing a missed DD for 6 months though :rotfl:
    Rule 7: If you're not changing it, you're choosing it.
    MFW 2020: 1 Jan £92903.90 ~ OP £536.80/£500
    MFW 2021: 1 Jan £89281.21 ~ OP £404.62/£500
    MFW 2022: 1 Jan £85579.20 ~ OPs on hold.
  • Well I phoned Shoosmiths, the debt recovery company today, to be told that my case didn't meet their requirements?? and they had sent it back to Tesco only yesterday. I phoned Tesco and passed this on. I asked if they could not please pass it to another company but allow me to pay what I owed and then continue paying the loan as before.

    The person I talked to had not heard of this happening before and is going to contact Shoosmiths herself and get back to me. She did say she would keep the case as her own and not pass it on and see what they could do to help resolve it without sending it out to another debt collector. The default cannot be removed as I have defaulted whether deliberately or otherwise which of course I can't argue against.

    She is going to contact me on Monday to update on what is happening. Apparently they have had a lot of issues regarding their account change. I have to say that she was very helpful and sympathetic to my case but I think the fact that I can pay back what I owe straight away helped as I'm guessing that they lose out if they sell the debt on.
  • Thats a great result if they let you pay them directly. Good luck!!

    It is quite common for collectors to pass the debt back to the creditor and then most of the time back out to another collector.
This discussion has been closed.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 352.1K Banking & Borrowing
  • 253.5K Reduce Debt & Boost Income
  • 454.2K Spending & Discounts
  • 245.1K Work, Benefits & Business
  • 600.7K Mortgages, Homes & Bills
  • 177.5K Life & Family
  • 258.9K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.2K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.