Direct debit woes

trustno1

Hi all been reading on here for the past few days and trying to take it all in!

Had alook on both of my bank accounts and started to get rid of direct debits that I don't need anymore and canceled the silly ones that I don't really need like PC insurance on a 4 year old pc and so on worked out £80 a month better off!

Now for my question, im paying replayments on 2 loans but the direct debits come out a different times in the month, is there anyway of changing them so that they all come out the day after pay day? i.e I get paid on the 15th of every month and would like all my direct debits to come out on the 16th of every month that way it would be much better to mantain my finaces and i'll be able to see what money ive got left for the month.

Would I be able to do this with my car insurance and phone bills etc. Ive asked Cahoot (one of my loans with the D/D comes out a week before pay day.) once or twice and they say that it can't be done as thats the date the loan was set up.

If not is there a better way to mange my finances and not worrying how much ive got to keep in the bank and whens the next D/D due?

Thanks

Snaggles

Hiya - direct debits are controlled by the originator (the company that set it up) - they request the money from your account, so you need to speak to them to change the date. Usually with loans they will let you change them as long as you only want to move them a week or two in either direction, so that you don't miss a full month's payment.

If some of them wont let you though, the way I do it is that I have a bills account, and on payday I transfer enough of my salary in to cover all that month's bills - then I know whatever is left is for me to spend (not much usually...lol).

RedDino308

Hi Snaggles,

Excellent idea about the bills account - I must try and do that.

-- Trust, are you always paid on time? If not then setting up your bills to go out immediately after you have been paid may not be a wise move.

trustno1

thanks for the replies, love the idea of a bills account, I can add up all my D/D then add the amount by standing order every payday then wont have to worry!