bank acc overdrawn by payday loan

callum9999

I'm sure right now there are thousands of people desperately trying to pay off PDLs that would absolutely love their bank to pay it off for them and transfer the debt over to a more reasonable long-term fee structure, particularly as your bank has already agreed to let you pay it off under a payment plan.

In fact, you yourself said that it's preferable to owe the money to your bank than the PDL provider... Other than you having a ridiculous idea that you can wipe out your debts on legal technicalities (as has been explained already, you cannot), WHAT exactly is your problem? Why on earth do you want the bank to get the money back from the PDL company and then have to go through a whole new negotiation process on how to pay it off, under terms which are 99% likely to be more restrictive than anything the bank would agree to...

lippy1923

OP, you owe the money. Grow up, pay up and treat the next 6 years of bad credit history as a lesson well learnt.

Conrad2

meer53 wrote: »

As far as retailers are concerned, card payments are guaranteed if they have an authorisation code. Banks cannot stop these from debiting. The OP willingly gave their card details to Wonga (who are not part of any banking group) for payments to be claimed when due. Authorisation was given by the OP at that time. If a card payment is processed with a valid authorisation code, it WILL debit, whether the money is there or not.

The bank have not done anything wrong. The OP should think themselves lucky they are now out of the PDL trap, which is self inflicted.

Sorry. The money was taken from a current account without an overdraft agreement, not a credit card account. They SHOULD NOT debit whatever you say. Please tell me I am wrong.

Conrad2

opinions4u wrote: »

Last time I'll respond to you as I suspect you're a wum.

It's not a moral decision. It's an authority from the account holder.

Who said anything about transferable? The authority to pay the PDL company is one agreement. The new overdraft at the bank is another.

I'm quite happy to be proved wrong here, but my understanding is that no UK high street bank owns any UK PDL company.

There is a judgement call based on the risk to the bank. Invariably automated. But if you don't want an overdraft don't authorise payments on your account not covered by funds.

Responsibility is a two way street. Not allowing a payment can, in some circumstances, be seen as inappropriate too.

But I'm now convinced you are a wum.

Well, I have no idea what a wum is, but if you infer that you are not one, then I can only assume it to be a higher form of life.

You make moral judgement about someone who, yes, may be trying to dodge repayments, but you are also blinded to reality and facts of law. One or two posters have said, 'hold on, you may or may not be acting incorrectly, but this is the reality of your situation'. And maybe, just maybe, they are actually starting on a route that will help a misguided individual get back on track.

The things people say here, which could be seen as making a fair point, end up completely lost because of the frantic moral tirade that leads to pronouncements that the most elementary realities of law and finance are untrue. And they then find themselves defending them!!!

If the twaddle that is purported as truth on some parts of this forum were indeed so, the UK consumer would have virtually no rights, and be subject to the whims of banks who are free to act as they like. Thankfully, out in the real world, things are different.

'You are a wum my Lord', has no legal bearing in court should a judge attempt to explain reality to you.

Frankly, I am happy that you will not be responding to this message, as there is enough of this unreal gibberish here all ready.

bengal-stripe

Conrad2 wrote: »

Well, I have no idea what a wum is.....

For your information:

wum

It is an acronym meaning Wind-Up Merchant.

It refers to someone who posts on message boards and newsgroups with the intention to cause as much disruption as possible by goading others.

http://www.urbandictionary.com/define.php?term=wum

Conrad2

Thanks Bengal,

I thought opinions4u was trying to say that I was different to him. I see now that he thought I was one of his gang.

artanua

Conrad2 wrote: »

the frantic moral tirade

'.

do you mean PDL evangelism ?

meer53

Conrad2 wrote: »

Sorry. The money was taken from a current account without an overdraft agreement, not a credit card account. They SHOULD NOT debit whatever you say. Please tell me I am wrong.

You are wrong. They SHOULD debit. The OP owes money, they gave authorisation to the company to pay that money from their account. The company has authorisation to take the money. They ARE allowed to take that money.

This is NOT my moral opinion, it's the way the system works. Whether YOU like it or not.

dzug1

Conrad2 wrote: »

Sorry. The money was taken from a current account without an overdraft agreement, not a credit card account. They SHOULD NOT debit whatever you say. Please tell me I am wrong.

But said account was already considerably overdrawn with apparent agreement between the account holder and the bank. Therefore there was an overdraft agreement in place.

ILW

On an account with no overdraft, it is at the banks discretion as to whether to allow a debit balance or not.