In debt & scared

gigglebuns

Hello all

Ive come here as Ive found from reading previous threads that people are so helpful.

Im in a lot of debt with short term loans and catalogues. I have 2 bank accounts with Natwest, 1 current account and 1 step account. All my dealings with the short term loans go out of my basic account and my wages are paid into the current account.

This current account is in credit as I have paid off and closed my overdraft facility. I know that at the end of this month when the loan companies come to take their payment off my step account debit card, there will be no money for them. Im worried that the bank would then defer these payments against my current account instead and was wondering if this is something they can do?

I have tried to open a Halifax account so I can transfer my wages but got rejected so have applied for the Co-op cashminder and Im waiting for the forms. I dont really want to leave Natwest as Im in good standing with them but Im so scared that they are going to transfer my wages from my current account to my step account to cover the recurring debit card payments.

I hope this makes sense

Please can anyone advise. Many Thanks_pale_

gigglebuns

Hello again

Sorry to post again but can anyone give any advice.

Many Thanks xx

ss3n08

Hello, I didn't want to read and run. I can't help but someone will be along who can very shortly xxxxxx

Weird_Nev

We kind of need more information to help, and you also need to fully appraise your situation so you can make sensible decisions.

Post up your exact situation, income, costs (Statment of Affairs) and what you owe to who and I'm sure you'll get helpful advice on how to best manage your situation in the long term.

[Deleted User]

gigglebuns wrote: »

but Im so scared that they are going to transfer my wages from my current account to my step account to cover the recurring debit card payments.

You could always cancel the CPAs.

happy_bunny_2

If you have pay day loans then you need to cancel the Continuous payment authorities.

Ring your bank and do it on the phone then follow up in writing and request written confirmation. If they say they can't then they are fobbing you off. Complain. They will do it.

Also cancel the CPA with each creditor.

After this, if the payments go out its the banks fault.

Maccie

Who are your loans with and how much are they for? I contacted QuickQuid yesterday as I have a £810 loan due to them at the end of this month. :eek: After 5 minutes speaking to them via their online chat they had set up a repayment plan for me to spread the the loan over so many months with no extra charges or interest. Is this maybe something you could try if you can set aside a certain amount for each loan company?