Help with workings out of payment

roxy84

Hi, dont laugh im having a blonde moment here.
Can anyone help me with how my Secured Loan payments are worked out.
We have had problems in the past paying but as we are now Bankrupt we now have the extra money from our unsecured creditors. We have a loan that is currently £267.13 in arrears which we are paying at the end of the month, then from next month onwards our payments are £138.36 a month by direct debit, when i rang the company they suggested it may be easier to pay by standing order every week (get paid weekly) and they said this would work out at £34.59 a week! With my calculations i worked it out to be £31.93 (138.36 x 12 / 52)

can anyone help me with which is correct or should we just pay with direct debit monthly?
Is it just that if there is a 4 week month the payment is correct but if its a 5 week month we will overpay that month (which isnt a bad thing)