Unsure?

[Moneystinks]

We (Other half and I) are unsure about what to do for the best with regards to our direct debits. Neither of us have the confidence to make a decision one way or the other - We are aware only we can make that choice but would like advice please.

We have a loan with our bank and a credit card. We have requested the loan agreement and a written balance as suggested by Melanie's team. Thing is we get paid on Tuesday and on Thursday our bills start to leave the account. (Utilities go out on the 1st).
If we cancelled all the 'credit' direct debits can the bank refuse to send us the info we have requested? Also can they just take the money they require?

We currently have conflicting feelings, but ultimately want everything sorted.[:(]

[Reviva UK]

Hi Moneystinks

If you are going for an IVA with Melanie's team firstly WELL DONE for taking the first step and choosing well.

I would suggest that you get a new bank account and transfer your DD's SO's to the new account for rent / mortgage PLUS utility payments.

that way you have control of the money side.

Perhaps a call to Melanie's team is worthwhile tomorrow.

[Moneystinks]

Thank you for your response.

We have managed to get an Abbey account this was a trauma in it's self. I am planning on changing my payroll details tomorrow with work. Should we wait this month and when our pay and utilities are coming from the new account should we stop paying the creditors then?

I would love to call Melanie's team but I just end up crying like a baby, I get that out of control I cannot speak. This site has been holding me together for the last few weeks - how sad am I??? lol [:)]

[Viki.W]

Hey moneystinks,

As Paul said, open a new bank account (not one connected with any of your debts...and not HSBC) I did this the other day and instead of getting the new bank to transfer d/ds and s/os from my old bank, I phoned all the utilities etc myself and gave them new bank details. Took a while to phone everyone but they all changed details over the phone no problem. I then cancelled all the d/ds and s/os in old bank including the loan payment I owed them. Don't worry about doing it so close to the 1st when they are due as gas/elec people just said they would take it out the following week. Hope this helps.

[Viki.W]

Sorry I must have been typing while you posted, I'm quite slow! If you cry when you phone Melanie's team that's ok, I'm sure lots of people have, I think I will be crying tomorrow when I phone. You should phone to get the answers you need, then you can try and relax. Hope everything works out ok.

[aguise]

Marie make the call. You will wonder after whyy you didnt. I understand I made my husband ring. My only wish now is that I hadnt held off for as long as I did.
I would ring Melanie tomorrow and get the advice on when to stop paying. Move your wages and necessary debits to your new account. I sat with a coffee and rang them all and it was easy, just cancel them with your bank and change them to the new one, most will take the details over the phone.
It is a very unerving time and so many of us have been there but we are here for all the support you want at anytime.

Ang

[aguise]

I think we were all typing at the same time then.

Ang

[Moneystinks]

Thank you both.

I will have to ring. I m sure that when I rang last week and cried she answered this very question?

I cannot seem to process information very well at the moment.

Thanks for your support. XX

[barbara.worthington]

hey moneystinks

you are in good hands on this forum, we are all here to support yo and each other

my creditors meeting is on the 28th, but i changed my bank account from halifax to co-op, cancelled all my direct debits and standing orders with halifax straight away and set them up with the co op bank. if you are going down the route of an iva i would personlly not pay your creditors but try to put some money away as a contingency plan. i have a loan with the halifax and 2 overdrafts but since deciding to apply for an iva have not paid any of them and they are to be included in my propsal.

dont be scared to ring and get the ball rolling, just by making that call you will feel like a weight has been lifted, am not saying you wont still have bad times but just by letting melanies team help to sort things for you will make you feel so much better

let us know how you go on and remember there are lots of lovely people on here to support you

take care

love barb x

[Moneystinks]

I think what I scared ofis going in and drawing out all of our wages - There are loads of what if's going round in my head.

What if they ask why I'm taking i out when I have bill due to go out.

What if hey ask why I am cncelling the direct debits etc etc.

Thanks by the way Barb it's nice to have all the support. x

[Moneystinks]

I need to think slower so I can type properly.

[Reviva UK]

they won't ask you why you are taking out all of your money. don't forget it is yours.

Do remember to cancel the standing orders otherwise they will be delighted to charge you for going overdrawn as well.

[aguise]

Do you have online banking if so you can cancel them online. When I rang the people to change debits I just said I was rearranging things. You have every right to withdraw your money from the bank, take it from the cash point.

I didnt cancel the actual loans with the bank I just let them default.

Ang

[Viki.W]

Marie, if you feel funny going into branch, can you do it over the phone or on the internet? the important thing is to take your wages out as you will need this to live on and you need to start putting a little away for when you are in iva. Personally, I told my bank manager and he was great, you'll be surprised. Usually the person on the enquiry counter will deal with this and they shouldn't need to ask you why. Let us know how you get on. X

[Viki.W]

Jeez, I type really slowly! [:I]