Token payments - how do you pay yours?

Violet1

I need to send token payments to my creditors each month and assumed that I would use postal orders (I don't have a cheque book anymore).

But when I went to the P.O. today to get them, I discovered that each £1 postal order would cost me over 40p! I know it's not a huge amount, but it works out at nearly 50% extra!

Is it acceptable to just tape a pound coin to each letter, or is that a daft idea?

GirlRacer_2

Do you have a debit card, I know my sister has just started paying token payments and she's been told she can use this

Violet1

I've got an Electron card - I've just started a Cashminder account with the Co-op.

Do you know if your sister just writes the card number on the letter, or whether she has to ring and do it over the phone?

GirlRacer_2

She actually rings them up and pays her £1 over the phone. I only know this because I was at her house today and she was doing it. If you telephone the company concerned and ask them, failing that ask them to send you a payment book and then you can pop into the bank and pay it in that way.

Nicki_Sue

I do my £1's as bill payments (I have a pre-pay debit card now and like you no cheque book, although Nationwide who Im with will issue cheques on my account) through online banking. Some companies don't like to take cards under £5 because of charges apparently.

LilacPixie

some basic accounts still give a cheque book i think. going you not write and post £1 cheques

Ames

It depends on the DCA/creditor. Barclaycard and Rockwell were happy to send me a paying in book. (although Rockwell have just sold the debt on). Fredrickson International insisted on cheques, as their minimum over the phone amount was £10, the card they sent had a minimum of £5 and they don't offer paying in books.

I agree that the cost of PO's is extortionate, is there anyone who could write a cheque for you if you give them the cash? I know it's a knock to the pride, but it'd probably only be for a few months - in my experience the debts get sold on pretty quickly when you're on token payments, I've only been offering mine for about a year and they've been sold on a couple of times each.

Also, if you're on benefits can you get any help with your council tax bill? If you're on means tested benefits (ie income support) they should be able to take any arrears off at about £3 a week, and you should be on Council Tax benefit to pay current bills.

thepinkladez_2

can you not go into your bank and get them to make out cheques for your token payments?

papito

Can't you go to the Post Office and pay using the C, bill details or the pay slip? You can then go once a month with all your bills and do one off payment per month of £1 to each creditor...

Violet1

I'm not on benefits - all the utilities, rent, etc are paid by my partner, so they're not a major problem. It's just my own 'personal' debt.

Fredrickson are one of my creditors as well, Ames. I'll just have to wait and see what they all say, I guess. I've only got seven payments to make each month so it seems a bit daft to be moaning about postal order charges, but it makes the total over a tenner, rather than £7.

My partner doesn't have a cheque book - he never uses them, so he shredded the ones he was sent!

Papito - I hadn't thought of that, thanks

Cleosmum

I pay mine by standing order.