Retailer failed to set direct debit up

emmajones1976

gvw12187 said:

Thank you all.

By the way planning finances ahead means looking forward not backwards.

Again the onus is on the finance company to collect payments not me checking every time doing their job for them. 

Once I sign a finance agreement they have permission to collect the money for X amount for X amount of time.  

Appreciate all the sarcastic answers..

I dont think anyone was being sarcastic, you were just not getting the answers you were hoping for.

razord

gvw12187 said:

Once I sign a finance agreement they have permission to collect the money for X amount for X amount of time.  

No you don't though - that's the misunderstanding. You give them permission to X amount over X instalments - not "X instalments in X period"

Aylesbury_Duck

gvw12187 said:

Thank you all.

By the way planning finances ahead means looking forward not backwards.

Again the onus is on the finance company to collect payments not me checking every time doing their job for them. 

Once I sign a finance agreement they have permission to collect the money for X amount for X amount of time.  

Appreciate all the sarcastic answers..

I disagree.  How can you plan forward if you aren't checking you are paying for services or goods you're receiving?  It's similar to utility bills, where you may be paying too small an amount each month because you're not checking meter readings, meaning you're in for a surprise when direct debits need to rise to cover your bills.  You can't just shrug and say "I only look forward, and anything that has or hasn't happened in the past is immaterial".

As for the point about the finance agreement, you said it yourself: they have permission to collect the money for X amount for X amount of time.  They have permission to collect the amount.

powerful_Rogue

If they had made a mistake going the other way, ie taking DD payments from when you signed the contract meaning you would have paid an additional two instalments, would your attitude be the same?

born_again

gvw12187 said:

Thank you all.

By the way planning finances ahead means looking forward not backwards.

Again the onus is on the finance company to collect payments not me checking every time doing their job for them. 

Once I sign a finance agreement they have permission to collect the money for X amount for X amount of time.  

Appreciate all the sarcastic answers..

And that is exactly what they are going to do. 
The fact it is not from August 2021 due to a input error makes not difference to the amount of period of 12 months that it will be taken for.
They are not even in breach of the ​​​Direct Debit Guarantee, which would be you only basis of a complaint with the finance company.

Perhaps you really need to review how you monitor your bank account. Someone could have been taking a payment out for longer than you expected or even not as expected, and the way you monitor would not pick it up.

maisie_cat

It happened to me once, I used the money that wasn't taken by DD to make a manual payment & catch up. As a result the agreement finished when it was originally supposed to.
I'm sure it was also Hitachi finance so call them and see if you can do that, the agreement will then finish when you expected it to.

MarvinDay

As your finances currently stand, you have an extra £50 plus an amount equivalent to five monthly finance payments. 
Take the £50 and put it towards a few drinks and a meal for you and your wife.

Put the money from the five unclaimed payments into Premium bonds until the July 2022 draw has happened then simply withdraw it and use it to pay of the remaining balance of the finance agreement. 
Those bonds will be entered into five draws between now and July and you might end up winning a bit of extra money during those five months.
If not, you still won't be any worse off than if the first payment had been taken as originally agreed.

IvanOpinion

Wow an additional 5 months of interest free credit and a free £50 bonus.
What is there not to like!

Ergates

gvw12187 said:

Thank you all.

By the way planning finances ahead means looking forward not backwards.

Again the onus is on the finance company to collect payments not me checking every time doing their job for them. 

Once I sign a finance agreement they have permission to collect the money for X amount for X amount of time.  

Appreciate all the sarcastic answers..

If, as you say, you like to plan your finances, then there must be an unexpected lump sum in your account from the uncollected payments.

Is there any reason you cannot, as several others have suggested, take that lump sum and pay it to the finance company agains the loan?   Either now, to restore you to the position you would have been in if they'd started the payments when expected, or in August 2022 to clear the balance

Korkyb

gvw12187 said:

I personally think direct debit payments after one year (August 2022) should be written off as a gesture of goodwill. My last payment should technically be August 2022 not December 2022.

 

This must be a wind up?? (it has been school holidays!)

Almost unbelievable if not.