How to pay!!!

Happydude5265

I am negotiating with Lowell and Lantern and UK search how do I pay or how do people suggest? I've been told NOT to set up a DD as that can be changed by them, My bank says a SO cannot be altered, I am being asked to register and create an account online and I can make payments online by debit card, can and would they take more from my Debit card than I authorize? in full and final settlements do I need them to confirm that they will not sell the written-off debt to another agency?  

EssexHebridean

Can you not set up a regular transfer from your bank account? That way you have the control over when it is paid, and for how much, and it gives you the security of knowing that you won't risk missing a payment.

Definitely don't do a recurring payment from a card, or a Direct Debit. 

Happydude5265

The young lady in the bank said go online and set up a standing order if they will accept one . She said they cannot take more than the amount unlike a dd, she also said I should be careful regarding debit card payments if i don't trust the recipient , although she did say you can actually dispute a debit card payment and have it reversed 

New_in_the_fens

You have total control over a standing order. You decide when and how much your bank pays and can be cancelled at any time. The receiver has no control on it at all. 

Floss

You should be able to set up & amend standing orders in your online banking - don't agree to direct debits or recurring debit card payments.

Rob5342

Just set up a standing order in your banking app or online banking, then you can change or cancel it whenever you like. The DCAs prefer you to to set up direct debits or card payments as it makes it more difficult for you to cancel them.

Richard1212

Hi----Much the same as other posters. Don't use D/Ds---a lousy "invention" which means you cannot control what amounts are taken from your account. Don't use cards, overdrafts, etc etc.

Don't believe what your Bank told you------set up a Standing Order/s , set the figure you want to be paid at this time and it'll be paid. And  your Standing Order cannot be changed without your consent ( and you can change the monthly amount anytime you wish) ------plus, the person or company or bank that you're sending the D/D to , can never alter the amount YOU have told your Bank to pay.

stu12345_2

is a standing order different from a recurring card payment? as i noticed one of my creditors offers this and needs card details, but not bank account details, I am still in favour of adhoc manual debit card payments

Brie

stu12345_2 said:

is a standing order different from a recurring card payment? as i noticed one of my creditors offers this and needs card details, but not bank account details, I am still in favour of adhoc manual debit card payments

There's been plenty of posts about the difficulty with recurring card payments and I would suggest you avoid those just like avoiding a DD.  SO leaves you in complete control.  The added bonus that I haven't seen anyone else here mentioning is that should you not have the money in the account no payment is made.  This is very helpful should payments into the account vary from one month to the next.  Obviously it will still be up to you to check that you don't miss any payments you have agreed to - if you do then let them know you are aware it's happened and when you will make up the short fall.  

Rob5342

stu12345_2 said:

is a standing order different from a recurring card payment? as i noticed one of my creditors offers this and needs card details, but not bank account details, I am still in favour of adhoc manual debit card payments

Yes they are completely different. With a standing order you instruct your bank to make a regular payment to the other party, with a recurring card payment you give them your card details and they take the money from you each month. You should always use a standing order for a DCA as you are in complete control and can change or cancel it in your banking app or online banking whenever you want, with a standing order you have to contact the company and tell them to stop and rely on them to not take any more payments.

DCAs prefer direct debits and recurring card payments as it makes it more difficult for you to change them, and that's always the option they promote on their website etc. You just need to be firm with them, say you will only make payments by standing order and ask them for their details so you can pay them the money.

sourcrates

All you need are their bank details, account number and sort code, which they have prominently displayed on their website for all to see.

Lowell -

Natwest
Sort Code: 60-00-01
Account Number: 39543749
Reference number: use your Lowell ref number

Lantern -

ACCOUNT NAME: Lantern
SORT CODE: 20-11-99
ACCOUNT NUMBER: 03613747
REFERENCE: Please use your Lantern customer reference number

UK Search you will have to ask, as they are not as forthcoming.

Customers

Enquire@uksearchlimited.com

01246 488924

Standard UK call charges apply.

Our opening times are:

• Monday to Thursday: 9am to 7pm
• Friday: 9am to 5pm
• Saturday: 9am to 1pm

You then just transfer the agreed payment via online banking.

No need for a DD or a SO.

Always agree a deal and have it confirmed in writing using the National Debtline standard template letter -

Sample Letter - Settlement offer | Sample letter | National Debtline | National Debtline

It contains the following sentence for your protection -

"I am making this offer on the clear understanding that, if you accept it, neither you nor any associate company will take any other action to collect or enforce this debt in any way and that I will be released from any liability".