Can I stop direct debit payment to CC?

M

Munster_06

Guest
until now i've cleared my full credit card bill each month by direct debit but won't be able to this month so when it tries to take the full amount from my current account i'm going to be in trouble!! can i cancel the direct debit at short notice (amount due to be paid in five days) and just cover the minimum payment or do these things take time? thanks for any help.
 
I'd ring credit card company and ask them to take out less on the direct debit until further notice. Otherwise you can put it in writing to your bank that you want the direct debit cancelled and also notify cc co. Shouldn't be a problem.
 
thanks a million liteweight, will do that tomorrow. really appreciate the reply.
 
looking for more help!

i rang my cc company and asked to change my direct debit so that only the minimum payment would be taken out this month and not the full amount. they said they could only do it for the next statement and not this month's, which is due to be paid this week.

i don't have enough in my current account at the moment to cover the full amount (i will have at the end of the month) so will be in trouble when it tries to draw the 100%.

is there anything i can do? is cancelling the direct debit (and paying the minimum 'manually') a no-no?

any advice would be appreciated.
 
Why do you pay your CC by DD rather than just doing it manually (e.g. by online banking or whatever) thereby giving yourself more control albeit at he cost of needing to be a bit more disciplined?
 
Munster, when the transaction is presented it may be declined due to lack of funds -- you will be charged a fee for this. Alternatively, it may be paid, leading you into an unauthorised overdraft -- you will also be charged a fee for this! Could you arrange a temporary overdraft with your bank?
 
Clubman? what's the point in answering a plea for advice with a comment like that??!! i thought this board was about helping people, not lecturing them!!

any way, i chose to pay 100% every month by dd to ensure the card was always cleared and i didn't build up any debt. i've been doing it that way for 10 years and it was fine until now, but now i'm in a situtation where, for one month, i need to reduce it to the minimum payment.

we live and learn, isn't that what life's about?!

if any one else out there can offer some constructive advice i'd be really grateful, thanks.
 
MugsGame said:
Munster, when the transaction is presented it may be declined due to lack of funds -- you will be charged a fee for this. Alternatively, it may be paid, leading you into an unauthorised overdraft -- you will also be charged a fee for this! Could you arrange a temporary overdraft with your bank?
Click to expand...

thanks for the reply mugsgame. i'm not too worried about fees i might be charged (although i could do without them), i'm more worried about this going against me long term, ie me looking like a dodgy customer (which maybe i am?!).

i'll try the temporary overdraft route, hopefully that will work. thanks again for your help.
 
Why can't you just cancel the direct debit altogether? Set it up again next month if you want to. Did you try ringing the cc company and asking them not to collect on dd this month?
 
If it's due to come out next week, it's probably too late to cancel the DD.

A DD declined due to lack of funds will appear on your bank statements. Another bank might ask to see these if you apply for a loan in future. Provided you still make a minimum payment to the credit card I don't think your credit record would be affected though -- you should aim to do this manually if you don't get the overdraft arranged.
 
Munster_06 said:
Clubman? what's the point in answering a plea for advice with a comment like that??!! i thought this board was about helping people, not lecturing them!!

any way, i chose to pay 100% every month by dd to ensure the card was always cleared and i didn't build up any debt. i've been doing it that way for 10 years and it was fine until now, but now i'm in a situtation where, for one month, i need to reduce it to the minimum payment.

we live and learn, isn't that what life's about?!

if any one else out there can offer some constructive advice i'd be really grateful, thanks.
Click to expand...
It's not a lecture, it's a piece of pertinent and constructive advice that might help avoid the current situation in the future. If you don't want a wide range of advice then don't post on a public bulletin board looking for feedback. :rolleyes:
 
liteweight said:
Why can't you just cancel the direct debit altogether? Set it up again next month if you want to. Did you try ringing the cc company and asking them not to collect on dd this month?
Click to expand...

hi liteweight. it's probably too late but i've just cancelled the dd through banking 365 online and have transferred the minimum payment in to the cc account - not sure how that will work out but i'd guess it's too late to save me this month (payment due in two days).
 
ClubMan said:
It's not a lecture, it's a piece of pertinent and constructive advice that might help avoid the current situation in the future. If you don't want a wide range of advice then don't post on a public bulletin board looking for feedback. :rolleyes:
Click to expand...


:rolleyes: oh dear. you answer a genuine question with another question - how does that amount to 'advice'?? if you're not in the mood to be constructive and to help people out then leave it to others (like the two kind people who replied to me). as the tayto ad puts it: there's always one. ;)
 
Munster_06 said:
:rolleyes: oh dear. you answer a genuine question with another question - how does that amount to 'advice'?? if you're not in the mood to be constructive and to help people out then leave it to others (like the two kind people who replied to me). as the tayto ad puts it: there's always one. ;)
Click to expand...
Read my signature.
 
ClubMan said:
Read my signature.
Click to expand...

i'll give you the benefit of the doubt and assume you got out of bed on the wrong side this morning. but honestly, when you're in that kind of mood you should steer clear of your administrating duties and leave it to others to offer assistance to those in need of advice, you're simply an unhelpful irritant.

before i'm banned (inevitable, eh?!) thank you to those who offered constructive and informed advice, greatly appreciated.

i suspect you're a man who likes to have the last word, so i'll leave it with you. :rolleyes:
 
In fairness to Clubman I have to say he usually gives good advice and has done so here IMO. The 'discipline' he's talking about is the fact that when you do as he suggests, you need to remember to go online and pay on time. I suspect you thought he meant that you shouldn't have gotten yourself into this situation.

In any event I very much doubt any of this will effect your credit rating. You sound like you're usually on the ball with payments and are panicking because this situation is not the norm for you. Any future lender will take your overall record into account and they also realise that blips occur.
 
Munster_06 said:
i'll give you the benefit of the doubt and assume you got out of bed on the wrong side this morning. but honestly, when you're in that kind of mood you should steer clear of your administrating duties and leave it to others to offer assistance to those in need of advice, you're simply an unhelpful irritant.

before i'm banned (inevitable, eh?!) thank you to those who offered constructive and informed advice, greatly appreciated.

i suspect you're a man who likes to have the last word, so i'll leave it with you. :rolleyes:
Click to expand...

Is this a wind up???
 
ClubMan said:
I prefer to think of myself as a helpful irritant but there you go.
Click to expand...

If you'd left out "....as a helpful irritant but there you go" you'd have been spot on, I suspect.


:)


Last word to......................
 
You must log in or register to reply here.
Back
Top