Rolled over direct debit

MikeL93

I have recently re-negotiated my mortgage and car, both payments have previously left my bank on the 1st of every month unless it is a weekend or a bank holiday. I logged into my online banking this morning to discover that neither payment had been taken but were both listed in my future outgoings for 1st July.

I rang my car finance company and it was only a receptionist that I spoke to as no one else was available and she seemed to suggest that as the paperwork for my car was only submitted last Monday there has not been enough time for everything to be processed and my payments will just resume as normal from 1st July. I sent an email to my mortgage company asking the same question and got a response that basically said the same thing but someone will ring me at some point to discuss.

Is it normal for this type of thing to happen? I have searched rolled-over direct debits but still a little bit confused.

DullGreyGuy

MikeL93 said:

I have recently re-negotiated my mortgage and car, both payments have previously left my bank on the 1st of every month unless it is a weekend or a bank holiday. I logged into my online banking this morning to discover that neither payment had been taken but were both listed in my future outgoings for 1st July.

I rang my car finance company and it was only a receptionist that I spoke to as no one else was available and she seemed to suggest that as the paperwork for my car was only submitted last Monday there has not been enough time for everything to be processed and my payments will just resume as normal from 1st July. I sent an email to my mortgage company asking the same question and got a response that basically said the same thing but someone will ring me at some point to discuss.

Is it normal for this type of thing to happen? I have searched rolled-over direct debits but still a little bit confused.

They must give you 10 working days notices of any changes else a collection wouldnt be valid. It also takes several days for the whole DD process to run and the funds actually leaving is a few days after the process started. 

So when did you agree the changes?

Hoenir

Direct Debits are a batch process not ad-hoc. As has been said above not a quick process either. 

To avoidable additional charges or interest worth making payment by other means. 

MikeL93

DullGreyGuy said:

MikeL93 said:

I have recently re-negotiated my mortgage and car, both payments have previously left my bank on the 1st of every month unless it is a weekend or a bank holiday. I logged into my online banking this morning to discover that neither payment had been taken but were both listed in my future outgoings for 1st July.

I rang my car finance company and it was only a receptionist that I spoke to as no one else was available and she seemed to suggest that as the paperwork for my car was only submitted last Monday there has not been enough time for everything to be processed and my payments will just resume as normal from 1st July. I sent an email to my mortgage company asking the same question and got a response that basically said the same thing but someone will ring me at some point to discuss.

Is it normal for this type of thing to happen? I have searched rolled-over direct debits but still a little bit confused.

They must give you 10 working days notices of any changes else a collection wouldnt be valid. It also takes several days for the whole DD process to run and the funds actually leaving is a few days after the process started. 

So when did you agree the changes?

It was all literally in the last week everything was finalised regarding both re-negotiations.

DE_612183

probably too soon for this month for the changes to take place - they should have told you this at the time and also when the next payment would be taken and how much that would be - it may get pro-rata'd