I have got into the cycle of borrowing to live and having to use payday loans to survive which has got me upto my neck. I made the steps to get help with an IVA through Melanie Giles and think I will be going ahead to apply for an IVA. My question is, I will stop all my direct debits etc, my payday is next Friday. I have however 5 payday loans, some monthly installments, that will be coming out directly which will take my money. How can I stop these from being taken as it is not a direct debit I can cancel. I will be transfering my money on payday into someones account until my new account is set up
You should speak to the bank but one option would be to cancel the debit card and order a new one. Speak to Melanie's team and see if they can give any other advice.
you are going with a great company, with them myself.
you can stop making all paymants to your payday loans.
You will get phone call letters asking for paymants pass them on to you iva company.
IVA now over with and it was worth it.
now starting my life again,
Have you opened a new bank account that is not with one of your creditors? If not then you should do so straight away and swap all of your normal DD's across.
PJG Recovery have a free online advice channel at www.debtadvicetv.com. If you are ready to ask us for specific advice or help, then get in touch at www.pjgrecovery.com/contact-us.asp . I look forward to speaking to you.
Watchdog did a 'thing' the other night about the cancelling of CPA's (monthly payments direct from a debit card). They said that as of Nov 2009 Banks have the authority to cancel these payments when requested to do so by the card holder. Failure to carry out this instruction will render the bank liable for the payment and any charges incurred. Phone your bank and cancel them, don't get fobbed off with the muppet at the call centre saying they can't cancel a CPA as they can and have to once instructed to do so. Good luck with your IVA, not the you will get any grief off Mel and her team.
Last Payment made 04/12/14. Completion Certificate 25/7/15. IVA company GT. No Issues
Let me know if there is anything we can do to help Peter. I can open you a temporary client account to pay your salary into if this helps - and if you can get your employer to change their method of paying you before the next salary payment is due.
Thanks for all your kind help, it is much appreciated. I am sorted, my house mate who I had to discuss this with is going to let me transfer all my money into the account on my payday Friday, all I was concerened was that the payday loans would take the money before I had to chane to transfer. To late for my wages, they are put through on the 15th, but I am opening a new account over the weekend.
I had a payday loan and cancelled the card that I used for them to take payment from, as the company took money using the card number, so my bank cancelled it and I ordered a new one with no problems.
Started IVA 27th Feb 2012 - Due to complete 27th Jan 2018 !!
Full & Final submitted and accepted 30th March 2015, paid 10th April 2015 - 3 yrs 1 month into IVA
Completion Certificate received- 30th April 2015!!
Hi there, i was advised that cancelling your card is not enough and when i spoke to my bank and asked them to cancel the CPA they refused saying they couldnt. I then looked into this and found out that they could but for some reason they dont like to so i phoned back, had to get a little bit more firm and they did it immediately!!! Just tell them that you have looked into it and you know they can do this!!!
