Vanquis

OldMacdonald12

Yes, it is exactly that. I don't want to spend on the card!. I owe £230 and as my account is set up to pay the full balance every month by direct debit, they will be taking this is a few days. If they take this, I don't have money to pay to fix my car and I want to know, if bearing in mind they are wiping any info from credit agencies, if I make a payment of only the minimum amount (5%) by debit card, but cancel my direct debit, will I still get a black mark for non payment. I just need to use the £230 that Vanquis are going to take in a few days, to pay to fix my car and pay Vanquis next month. I would normally be able to do this by changing my dd to pay minimum 5% only but because account is being closed before another payment would be needed, I can't.

bradders1983

Probably far too late anyway if the DD is due in 2 days. 

If it wasnt too late then yes, it probably wouldnt matter if you missed it or not. Yes it would get reported initially but then removed at some point in the next month or so.

OldMacdonald12

I thought I could cancel a direct debit with my bank at any time?

bradders1983

You can, but how the system works is companies "go in" for the payment a couple of days before. They make it very clear that if you cancel a DD 2 days before it is due it probably still gets paid.

OldMacdonald12

So I'm completely stuffed then? I'm really !!!!!! off because if I'd run up a bit of debt on it and only paid the minimum, I'd be sorted now wouldn't I? But because I did everything not to get in debt with it, I'm royally stuffed. 

bradders1983

By all means attempt to cancel the DD and see what happens on Friday.

sleepyjones

If you call the bank they can cancel the direct debit and recall the money (as long as you do it before 3pm on the day the direct debit comes out) ... Just saying, not advising.
... if you cancel the Direct Debit, remember it takes a couple of days for any payments to reach them so if you did want to pay the minimum you'd probably need to do it today for them to get it on Friday.  You'll probably get a charge too if the DD fails because you cancelled it, dunno if that matters since they're gonna repay all charges.

OldMacdonald12

Thanks, I will probably have to try that. So if I pay the minimum, they wouldn't be reporting it to credit reference agency, am I right? I know they say they are wiping any record of the account from the agencies, but you never know do you, so I'd definitely rather avoid that if possible. Thanks again.

sleepyjones

I would assume if you pay the minimum on time, they would report that ... You really should speak to them though. 

bradders1983

If they have said they are going to wipe the credit file why are you obsessing over them reporting a late payment? It will have vanished by the end of the year, if not long before.

If you pay the minimum on or before Friday they will report it as being on time. And in a few weeks it will have vanished so its moot.

Personally if I had that letter from them I would have cancelled the DD straight away and put my feet up, given they were writing off the balance