Cancelling payments to companies

[simon.b]

Can anyone advise me please?

Is it better to take repayment breaks rather than canceld DD's?

[MelanieGiles]

Hi simon and a warm welcome to the forum

I am sure that the cancellation of your Sky card will not affect your Sky TV, but best to check the contractual documentation of both accounts to be sure.

You will find that Lloyds will continue to deduct loan repayments from your current account, but this merely serves to reduce on balance at the expense of another - so no real effect.

With regard to the Egg account, if you are considering entering into an IVA there is little difference in both options.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

[Oliver]

I agree with Melanie that stopping the payments on your Sky card will be unlikely to result in the canecelling of your TV package.

If you stop paying Lloyds they do have the legal right to take money out of your Lloyds account to offset the money owed to them, and as Melanie says they are likely to continue taking the monthly installment.

Best Regards
Oliver

Thomas Charles and Co Ltd.
Experts in personal debt solutions.
Read customer feedback at: www.thomascharles.com/about_us.asp