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  • FIRST POST
    • elliexox
    • By elliexox 12th Feb 18, 2:30 PM
    • 6Posts
    • 3Thanks
    elliexox
    Feeling nervous about cancelling DD's
    • #1
    • 12th Feb 18, 2:30 PM
    Feeling nervous about cancelling DD's 12th Feb 18 at 2:30 PM
    Got an email from StepChange today asking me for a little more info and that an adviser would be in contact in 1-3 days about my budget (not sure what this is about??) The email said as soon as they had the info they can start contacting my creditors and starting my DMP. So I sent it all off no problems but I am feeling really nervous about cancelling some of my direct debits, all credit cards are cancelled that's fine it's more so the pay day loans companies because I have no idea what happens with them if you miss a payment, should I keep paying these until my DMP starts or just straight out cancel them. My loans are with sunny x3 satsuma x1 uncle buck x1
Page 1
    • sourcrates
    • By sourcrates 12th Feb 18, 2:40 PM
    • 13,694 Posts
    • 13,036 Thanks
    sourcrates
    • #2
    • 12th Feb 18, 2:40 PM
    • #2
    • 12th Feb 18, 2:40 PM
    Hi,

    How do you make your payday loan payments now ?

    Its usually by constant payment authority, through a debt card, rather than a DD.

    Ideally you should treat all your creditors the same, so i would stop all payments to everyone.

    You should write to each one yourself explaining your plans beforehand.
    I'm a Board Guide on the Debt-Free Wannabe, Credit File And Ratings, and
    Bankruptcy And Living With It, boards. "I volunteer to help get your forum questions answered and keep the forum running smoothly".
    Board guides are not moderators and don't read every post. If you spot an abusive or illegal post then please report it to forumteam@moneysavingexpert.com. Any views are mine and not the official line of MoneySavingExpert.com.

    For free debt advice, contact either : Stepchange, National Debtline, or, CAB.
    For Free Legal advice see : http://legalbeagles.info/
    • elliexox
    • By elliexox 12th Feb 18, 2:50 PM
    • 6 Posts
    • 3 Thanks
    elliexox
    • #3
    • 12th Feb 18, 2:50 PM
    • #3
    • 12th Feb 18, 2:50 PM
    Hi Sourcrates,

    You indeed are right, just checked my bank there was no DD to them so I looked on the website and it is through the CPA.

    I have just emailed Sunny explaining my situation and will now do the same with the other two, I suppose I am just being a chicken but it's the best thing to do, just hope they all respond nice enough!
  • National Debtline
    • #4
    • 12th Feb 18, 3:24 PM
    • #4
    • 12th Feb 18, 3:24 PM
    Hi Ellie


    A CPA is a particular method of payment which you are entitled to cancel. You should contact your bank asking them to do this. You can use this sample letter https://www.nationaldebtline.org/EW/sampleletters/Pages/Withdraw-your-continuous-payment-authority-from-your-card-issuer-%28sole-name%29.aspx.


    There is also a sample letter available for your payday loan lender https://www.nationaldebtline.org/EW/sampleletters/Pages/Withdraw-your-continuous-payment-authority-from-payday-loan-company-%28sole-name%29.aspx.


    Don't feel bad about doing this, you're entering into a DMP because you know your debts are not affordable. There's no need to struggle to pay them when StepChange are going to be dealing with everything for you. If the payments are due out of soon it's a good idea to call your bank and cancel the CPA verbally, then you can follow that up with the sample letter.


    Susie
    @natdebtline
    We work as money advisers for National Debtline and have specific permission from MSE to post to try to help those in debt. Read more information on National Debtline in MSE's Debt Problems: What to do and where to get help guide. If you find you're struggling with debt and need further help try our online advice tool My Money Steps
    • sourcrates
    • By sourcrates 12th Feb 18, 4:08 PM
    • 13,694 Posts
    • 13,036 Thanks
    sourcrates
    • #5
    • 12th Feb 18, 4:08 PM
    • #5
    • 12th Feb 18, 4:08 PM
    As a further safety precaution, it would be wise to report your debt card as lost ASAP.

    Not stolen, just lost, that way you will get a new card, with a different number to what the PDL companies have on file, and they wont be able to debt your account.

    But your pin will remain the same.
    I'm a Board Guide on the Debt-Free Wannabe, Credit File And Ratings, and
    Bankruptcy And Living With It, boards. "I volunteer to help get your forum questions answered and keep the forum running smoothly".
    Board guides are not moderators and don't read every post. If you spot an abusive or illegal post then please report it to forumteam@moneysavingexpert.com. Any views are mine and not the official line of MoneySavingExpert.com.

    For free debt advice, contact either : Stepchange, National Debtline, or, CAB.
    For Free Legal advice see : http://legalbeagles.info/
  • National Debtline
    • #6
    • 13th Feb 18, 9:42 AM
    • #6
    • 13th Feb 18, 9:42 AM
    I see the logic in what sourcrates says, but technically getting a new debit card does not cancel the continuous payment authority (CPA) and the payday loan lender could still take a payment. The safer option is to call your bank and cancel it. Following that up with a letter to both the bank and payday loan lender.


    Susie
    @natdebtline
    We work as money advisers for National Debtline and have specific permission from MSE to post to try to help those in debt. Read more information on National Debtline in MSE's Debt Problems: What to do and where to get help guide. If you find you're struggling with debt and need further help try our online advice tool My Money Steps
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