Payment not taken a year on

kateeh1978

I have had a phone call from a money transfer service, about a payment I made oversees last Oct (2012). They paid the person I was trying to pay, but did not take the money from my bank account, due to a processing error on their end. Do I have to pay the amount after I was notified a year on?

Many thanks in advance for your help.

custardy

I believe they have 6 years to claim it

kateeh1978

I was unaware the payment was not taken, until the call yesterday. A year on my circumstances are a lot different.

Fosterdog

It's not really their fault that you didn't check you account and notice the extra money. As Custardy said they have six years to chase you for payment, they can take you to court if you don't pay up.

Depending on how much it is, it is worth offering a payment plan of something you can afford over several weeks/months until it is cleared.

paddyrg

Offer to stage the payments so it doesn't hit you all in one go. If they didn't take the money, and it isn't still longing in your account, then in effect you've enjoyed/spent their money and still owe it.

Their timing is a bit rubbish, but unless you're disputing the debt, that's how it is I'm afraid.

unholyangel

kateeh1978 wrote: »

I was unaware the payment was not taken, until the call yesterday. A year on my circumstances are a lot different.

As others have said, first thing is to check your account and see if it was taken (as perhaps they just haven't reconciled it) or not. If it was taken then obviously you don't owe the money, if it wasn't taken then you do.

If your circumstances are indeed different, try asking to repay in instalments. If they say no, continue paying what you can when you can (or save it up in a bank account if they refuse to take any payment other than the full payment) so if they do decide to take you to court, you can show you were intending/trying to pay it back - it may help avoid court costs being awarded against you.