Problems with Tesco Personal Finance

MJI1962

Last year I had some temporary financial issues (mortgage went up and up and it was a few months before a loan had finished) and I dropped to a special pay rate of £55 per month for 6 months.

To save postage I sent three cheques (April May June) with covering letter and they were carefully post dated.

They payed them all in, then said I did not pay for May or June and got very threatening. I sent them proof of payment (scan of my bank statement with non TPF stuff blocked out) then defaulted me!

I am now in the hands of their collection department despite paying until I got financially hurt in December - and missed January and February. And this default shafted my chance of a low interest consolidation loan. Which has put my debt clearing back by at least three weeks!

Why can they default me when I have paid in advance?

Oh and while in this mess I am going to say that no financial company is willing to help, they are all vultures:mad:

mrsmortenharket

if they all went thru in the same month it would have counted as one payment.

You shouldn;t send post dated cheques.

I *think* its illegal. I may be qrong though & I am sure someone will correct me.

mrsmortenharket

did they process the post dated cheques???

sorry, just read your post again!

Lisa

MJI1962

Oh yes they did and they didn't give a damn!

CannyJock

MJI1962 wrote: »

Oh yes they did and they didn't give a damn!

The date on a cheque doesn't prevent it being cashed earlier, from memory it's just a legal thing that has to be there along with the signature to make the cheque valid.

Not cashing a Post-dated cheque is a courtesy (that they didn't do obviously - and being a big money making machine I doubt they'd have the facility to hold onto your cheque in a drawer somewhere for later clearing), but a cheque is either cleared or not when it's presented.

mrsmortenharket

I have been googling.

It appears that banks can just put the cheques through, regardless of when they are dated.

This is an old item from the bbc website but may be of some use.

http://news.bbc.co.uk/1/hi/programmes/moneybox/3537727.stm


Lisa

bigstevex

As everyone else says, they will have processed all the cheques as one payment most likely! You should have sent them one by one each month,

Tribulation

Yep, I learnt this the hard way about 9 years ago. I saw a great deal in a holiday shop and asked whether it would still be available in 3 weeks time when I got paid (bonus that month meant spare cash)

They said it wouldn't but if I give them a postdated cheque, they would reserve the holiday and hold the cheque in their safe.

They screwed up, the cheque got presented and cleared, causing me to go over my OD limit, ending up with DD's bouncing left right and centre and a couple of hundred pounds in bank charges.

I would never write a post dated cheque again. Thinking about it, the banks cant manually check the dates of each one. What annoyed me was how unsympathetic the bank (First Direct) was. Totally refused to budge on any of the charges.