Direct Debit Or Standing Order

Maurice_Head

Hi Guys,

I've just received a letter from one of my creditors (last year of an IVA), they are insisting that I change from my Standing Order of 4 years (no payments missed), to a Direct Debit. This doesn't seem right to me, or am I wrong?

I've managed to sort the problem now, stood my ground and they backed down.

Maurice

---lee---

It does not seem right but I can see why they are trying to do it.

Direct debits are controlled by the company - they specify the date and amount to be collected and can vary either of these at any time. The only control that you retain is that you can cancel it at any time.

Standing order is completely under your control.

You don't say which company it is/what you are paying for. If you don't like what they are doing, you may be able to take your business to a competitor.

Whilst I can see the advantages of direct debit to both consumers and businesses, I believe it should be up to the individual on how they prefer to pay.