I love spreadsheets Skippy, but you never know how much they are going to be these days with paperless billing and personnally much prefer standing orders as I am in control of the amount going out of the account. If you cant guess the amount that a direct debit will be and not have enough to cover it you can be charged by both the bank and the company trying to collect the money and then leave yourself short next time. It is probably not an issue if dd's are consistent.
IVA.co.uk The best place for debt advice. Thanks to Melanie Giles, David Mond, David and J (Elv5) Kallis, Dand, Skippy, Andy Davie
As and when they go up, I am always informed in plenty of time so that I can make adjustments to what needs to be in the bank.
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.
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I see now why you are happy with your current situation. My direct debits were changing quite a bit and I am in the process of changing the last couple to standing orders or paying as the bill arrives. It is the only way I can keep on top of things.
IVA.co.uk The best place for debt advice. Thanks to Melanie Giles, David Mond, David and J (Elv5) Kallis, Dand, Skippy, Andy Davie
I used to hate DD's in the past, and have had one or two nasty experiences (like the time I was paying for someone elses car as well as my own!) in the past, but now I love the convenience of not having to worry about making sure a payment is made by a certain date.
I just check my online banking several times a week just to keep an eye on it.
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
I'm always checking my online banking! The problem with paying when the bill arrives is a lot of companies charge extra for that so there's no way I'm doing that!
This is the first time in a lot of years that I have been able to go online and look at my bank account and smile to myself rather than feeling sick, stomach churning wondering how the hell I was going to put food on the table for the rest of the month never mind petrol, kids shoes etc.
Maybe I wont feel like this for the next 58mths but I will try to!!
Back to square one but what dunt kill you makes you stronger!!
Know what you mean fingerscrossed - I like to see a small amount still in there at the end of the month, rather than a big minus sign!
Skippy - as well as being charged extra if you have a bill, if you DD you usually get a discount as well so you win all round!
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
you only win if you know how much the DD is for and have sufficient funds to cover it. If you don't have the funds then you can be charged by both the bank and the company the DD is to be paid too and then it works out a lot more expensive.
IVA.co.uk The best place for debt advice. Thanks to Melanie Giles, David Mond, David and J (Elv5) Kallis, Dand, Skippy, Andy Davie
Most DDs don't change unless the company gives you notice and you can budget for it when you get the statement. We have DDs for the mortgage, gas and electricity, council tax, mobiles, and Sky (TV, phone and broadband) and apart from the mobiles and landline they hardly change, and as the bill is sent through each month I can allow for it.
No way am I paying a company extra for the inconvenience of having to make arrangements to pay the bill myself!
But surely even if they do fluctuate you still need to find the money from somewhere, so I don't understand the difference between DD and paying over the counter...
but you cant budget if you dont know how much is being taken out and ultimately may not leave enough in to cover the DD. Say for aguments sake you have a DD set up and the payments can be anything from £180 -£220 so you budget to leave £200 in and then they try and take £205 then you are likely to end up with a failed DD payment £25 bank charges and £20 for the priviledge of the company writing to say the DD didn't get paid for the sake of a fiver. If you set a standing order up then the amount is in your own control and can be budgeted properly for. I am not saying that this happens to everyone but can happen and its very expensive.
IVA.co.uk The best place for debt advice. Thanks to Melanie Giles, David Mond, David and J (Elv5) Kallis, Dand, Skippy, Andy Davie
Hi
I've noticed that utility companies are charging a fee if you do not pay via DD, and a fee for sending you a paper bill. I like to pay via telephone banking but still have to lump the non DD fee.
Seems like a little unfair to charge a fee just because someone prefers to pay cash or online.
Regards
I agree Andy, The IVA is teaching me alot and one of them is to be in control of my money and I can't achieve it through DD's. My mobile provider also charge for not paying by DD and they are in for a shock as I will just get a pay as you go and or use my work mobile and have any calls deducted from salary and see if the fee is then waived.
IVA.co.uk The best place for debt advice. Thanks to Melanie Giles, David Mond, David and J (Elv5) Kallis, Dand, Skippy, Andy Davie
