It looks as if CF clients will be told that they cannot make DO/SO payments and will have to move to some new process where they ring up to pay.
I guess the only way to continue making money is to get the client to do things themselves.
IVA started March 2011, Completed March 2016 and certificate issued 11 days after final payment. It was not always easy but then some of the best decisions aren't.
What happens if the client does not have a debit card, just a cash card, no internet banking and possibly finds it difficult to get to a bank?
Will they going to be encouraged to take out one of the cash card accounts which incurs a monthly fee?
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
also check what your agreement says,if it says you must pay by direct debit etc - they can't change the paymwnt terms of your agreement without your agreement.
if they send a change of agreements letter to sign check to see what else they might be trying to change too......
x files - trust no one !
Last edited by longslog101 on Wed Sep 16, 2015 9:04 am, edited 1 time in total.
My Blog details, the route I took before IVA, how I choose my firm, equity release advice (year 4-5), challenging the CRA's keeping IVA on credit file once gone from insolvency register
IVA ended August 2015. Would recommend McCambridge Duffy
The only reason I can see as to why they (as well as GIVA) will no longer be accepting DD or SO would be that they would no longer have to abide by the DD guarantees, to me it would be yet another reason to avoid such a company in the future if at all possible.
Improved cash flow, less staff that have to learn how to do maths etc.
Any time a company goes down this route it is all about control - basic debt collection approach.
IVA started March 2011, Completed March 2016 and certificate issued 11 days after final payment. It was not always easy but then some of the best decisions aren't.
I spoke to them last week he mentioned they were changing to Recurring card payments and also there will be a my account facility on the website where you will be able to log on and pay any uplift payments which will be helpful as I spend ages sometimes trying to get through each month to pay bonus over
Inter-locking IVA approved 25th Feb 2013 - F&F offer Accepted 06th July 2017 - Completion Certificate received 20th July 2017
I dont allow them simply because there is no control.
You can supposedly cancel them at the bank but its still not easy.
IVA started March 2011, Completed March 2016 and certificate issued 11 days after final payment. It was not always easy but then some of the best decisions aren't.
IVA started March 2011, Completed March 2016 and certificate issued 11 days after final payment. It was not always easy but then some of the best decisions aren't.
I do not trust recurring card payments. As far as I am aware this means that they will have to retain the card details plus your 3 digit security code [CVV] to make each transaction. Given the amount of data breaches this seems very dangerous information to hold on file.
With a standing order the client retains control and can amend the amount or payment date as they wish. A direct debit offers a guarantee system but I am not sure if any protection is offered under recurring card payments. You have handed over your bank details with the security code and authorised someone to retain this information for five to six years.
We allow our clients to pay whatever way they want i.e standing order, direct debit, bank transfer, debit card payment, cheque etc. Some lodge their payments directly into our bank account quoting their reference number and until recently we even had a client who paid weekly in cash. He drove a taxi and came in Monday morning with his payment as this was the best way for him to budget.
I guess we will all be receiving another RED letter very shortly then :/ so presumably we can just stand our ground and insist payments continue via Standing order?
Inter-locking IVA approved 25th Feb 2013 - F&F offer Accepted 06th July 2017 - Completion Certificate received 20th July 2017
font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by harrysmummy78
I guess we will all be receiving another RED letter very shortly then :/ so presumably we can just stand our ground and insist payments continue via Standing order?
Depends what your agreement says regarding payment terms.
My Blog details, the route I took before IVA, how I choose my firm, equity release advice (year 4-5), challenging the CRA's keeping IVA on credit file once gone from insolvency register
IVA ended August 2015. Would recommend McCambridge Duffy
We have only ever paid by SO during the life of the IVA (now month 55).
IVA started March 2011, Completed March 2016 and certificate issued 11 days after final payment. It was not always easy but then some of the best decisions aren't.
Perhaps if there is nothing to prevent them doing it, then it may be worth people applying for a free loadable disposable card, that they only use with them, at least that way you know they can't rinse you through unauthorised collections and it is a disposable card, and not your bank account.
My Blog details, the route I took before IVA, how I choose my firm, equity release advice (year 4-5), challenging the CRA's keeping IVA on credit file once gone from insolvency register
IVA ended August 2015. Would recommend McCambridge Duffy
font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by Michael Peoples
I do not trust recurring card payments. As far as I am aware this means that they will have to retain the card details plus your 3 digit security code [CVV] to make each transaction. Given the amount of data breaches this seems very dangerous information to hold on file.
With a standing order the client retains control and can amend the amount or payment date as they wish. A direct debit offers a guarantee system but I am not sure if any protection is offered under recurring card payments. You have handed over your bank details with the security code and authorised someone to retain this information for five to six years.
We allow our clients to pay whatever way they want i.e standing order, direct debit, bank transfer, debit card payment, cheque etc. Some lodge their payments directly into our bank account quoting their reference number and until recently we even had a client who paid weekly in cash. He drove a taxi and came in Monday morning with his payment as this was the best way for him to budget.
And this just shows the difference between companies - Michael should I ever find myself in financial trouble again which I hope I don't but I'll never say never, you'll be first port of call.
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
