I've been asked by Halifax to make two token payments of £10 each (one loan/one credit card). They know Im in the process of entering a dmp. The question is whether its ok to pay them this token amount using my new debit card (co op bank - who arent a creditor)? Could they do anything with the new card details etc?
when i was waiting for my proposal etc to be drafted i set up my new bank account and got postal orders for the token payments to post to each of my creditors with a letter so avoided passing them my new bank details - personally i'd advise against paying them via new bank
But could they do anything to the new account? they don't have any authority or right. Im assuming they can't take money out without my permission considering that account is not related to them.
They will noy take anything else out of your account as it would be theft. If you feel happy paying the tokens payments to stop the phone calls go ahead and the rest of your money will be fine.
I made no token payments at all, and there is no guarantee that if you do they will stop the calls.
The only accounts that Halifax can take money from are the accounts you hold with them. They did it to me with my Halifax savings account - £34 against a £20k debt!
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Manicmonday I used my new Co-Op account debit card to make token payments. By the way if making a token payment to one company then you should make it to all and the payment should be pro-rata to the debt with each individual creditor....ie if you owe A 10,000 and B 5000 then you would pay A 10 and B 5.
Some do make payments and some dont.....I'm just a scaredy cat and had some cash set aside as my IP doesnt take a payment until the proposal stage, so I used it to make token payments and hopefully keep the creditors off my back. Worked so far....fingers crossed.
I came into this world with nothing and still have most of it left!
I kept my money back as a contingency fund as advised by Payplan.
It depends on what you feel comfortable with.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
