Direct debit non-payment

L

Loopylou

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Hi All - not sure if this is the correct forum but wondering if someone might be able to help....my mortgage payment was due on 1st March by direct debit. I lodged money to the account by online transfer on evening of 28th Feb - it appeared in the account straightaway - I checked yesterday and now and direct debit payment has not been taken from account and it shows a non payment fee of € 12.70 for 28th. I looked back and noticed that some months the mortgage payment went out on 30th/31st but most months it’s the 1st. Once before I received a text to say there were insufficient funds to meet the payment and I transferred funds immediately to cover it. Didn’t receive anything this time, I know it’s not the banks responsibility to ensure I have adequate funds in my account but I suppose as they did notify me before I thought they would again. I’ve tried phoning and emailing but obviously all call centres are closed due to snow. This is totally my own fault for allowing the funds to run so low but being honest the hassle of trying to get home from work in the snow on Wednesday meant I was late transferring the money to the account. Does anyone know what happens now?
 
Loopylou said:
This is totally my own fault for allowing the funds to run so low but being honest the hassle of trying to get home from work in the snow on Wednesday meant I was late transferring the money to the account.
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This is crazy stuff.

I spoke to someone recently who had plenty of money in deposit accounts and he was refused a trade up mortgage because he had missed payments on his existing mortgage.

Why leave things to the last minute if you have the cash?

Brendan
 
Loopylou said:
Does anyone know what happens now?
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It depends on the bank. Most will automatically try to collect the money again after a set number of days (this is system driven, so will happen even with branches closed).
So long as it's paid then, it shouldn't affect your ICB, but will be recorded on the banks internal rating system for any future loan applications.

If you have the money in a different account, just get the DD changed to that account and save yourself having to remember every month to manually transfer it.

You probably have a repayment set up for the last day on the month, and if that's a weekend it rolls until 1st of the next month which is why you see it on different days.
 
Thanks for the replies - I wish I had plenty of money sitting in accounts - Both myself and my husband get paid on the last day of the month - only a recent thing since January for my husband - this is why I was transferring the money so late. Lesson learned - will try to change date of mortgage payment to 3rd or 4th of month to allow for this.
 
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