started a dmp but have loan payment due ??

tania12

The dmp have said not to pay my bills but i am due to have a dd took for my payday loan but how do i stop this and will they let me??

~Beanie~

Cancel the direct debit with your bank, as long as the DD isn't due in the next day or two.

Are you sure it is a DD and not a card payment?

sourcrates

tania12 wrote: »

The dmp have said not to pay my bills but i am due to have a dd took for my payday loan but how do i stop this and will they let me??

Hi,

I would assume you mean a card payment for a payday loan, yes ?

if its a card payment, You need to ring your bank, and cancel the "constant payment authority" to the payday lender.

If its a direct debt, either cancel it yourself from online banking, if you have it, or ring the bank and ask them to do it.

You should also inform the lender what you have done, either by email, or in writing, explain you are entering a DMP.

Who is running the DMP ? because all this should of been explained to you.
You are not paying anyone for this service are you ?

DMP`s are available FREE from Stepchange, you don't need to pay for this service.

Clairemm

Hi
the most complete way to make sure only the payment you want are taken out is to change you bank account. it sounds a pain, but it really quite easy specially if you have a wage you can have paid in.

it does sound like theres a few important things your dmp provider hasn't explained very well.

from the little i know of payday lenders don't they have all sorts of tricks to just keep taking what payments they like from the account you gave them details for

tania12

sourcrates wrote: »

Hi,

I would assume you mean a card payment for a payday loan, yes ?

if its a card payment, You need to ring your bank, and cancel the "constant payment authority" to the payday lender.

If its a direct debt, either cancel it yourself from online banking, if you have it, or ring the bank and ask them to do it.

You should also inform the lender what you have done, either by email, or in writing, explain you are entering a DMP.

Who is running the DMP ? because all this should of been explained to you.
You are not paying anyone for this service are you ?

DMP`s are available FREE from Stepchange, you don't need to pay for this service.

i am with stepchange yes, so i am not paying for the service. thanks i will email the payday loan company now.

dancingfairy

Whilst the payday loan company *should* suspend collection activity (Especially if they've accepted your dmp/been informed of it) there's no guarantee they actually will. It would be curteous to inform them but the people you need to speak to are your bank. If it's a card payment you need to cancel the continuous payment authority (CPA).

df

National_Debtline

Hi

As Sourcrates and Dancingfairy have said, it’s a good idea to withdraw the Continuous Payment Authority (CPA).

If you haven’t emailed the creditor yet there are sample letters to send the creditor and your bank on our pay day loan factsheet, which might be useful:

www.nationaldebtline.org/EW/factsheets/Pages/41%20EW%20Payday%20loans/Default.aspx

James
@natdebtline