# Advice needed re finances in general and direct debit.



## indept (1 Jun 2011)

Hi there, 

First time to post here. I have a personal loan with the bank, I have lost my job, I am in the negative everyweek, I owe almost everybody. 
I contacted mabs who advised me to write to the bank in which I did, they have restructed the loan over the longest period, however this still does not help me. I am on a one parent payment, and that is it. I cannot pay this loan at all. 
Just today the bank attempted to take the loan money and put me into negative, I called up the bank and they advised me the direct debit is active and that the bank will wait for money to come into the account, the only money due in is my loan parent payment, and if they take this, I will not eat for the week, let alone pay any bills. 
My question is can I cancel the direct debit on the loan? is this possible. I am so stressed every day, and dont know what to do at all. I am atively looking for a job but to no avail. Any advise would be appreciated.

thank you for reading.


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## alexandra123 (1 Jun 2011)

> My question is can I cancel the direct debit on the loan?


 
You can only cancel the direct debit by contacting the bank that originally set up the direct debit. This seems to be your own bank. 

You will have to contact the loan department within the bank and ask them to restructure it again. If they don't they will continue to try and take the money out. Everytime money goes in it will be automatically taken back out before you even get to take it out. 

If the only money you put into the bank is the loan parent payment, then I would advise to either set up a new bank account with a different bank and ask the welfare to use the new account number, or to ask the welfare to pay you by cash.


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## HostBidder (2 Jun 2011)

To cancel your direct debit, give your bank (the one where your current account is) a letter with your account details (name, address, account number, sort code) and tell them to cancel with immediate effect all payments via direct debit or standing order to whoever the money is owed to.

Also send a letter to whoever you owe the money to, instructing them that you have cancelled the direct debit.

Good luck with everything!


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## indept (2 Jun 2011)

*re*

Hi there,  

Thanks for your advise. I will be open a new bank account with another bank. I called into the bank today and was advised I cannot cancel the DD on the loan, I mean how many times have I too say I cannot pay it. It has fecked up all my other DD's aswell. I will have to cancel all of them now, and set them back up. I mean I was told by mabs that basically when they contact the bank on my behalf, they usually come to an agreement as to what I can pay each month, and I have been trying to do this with my bank, and they are not listening. 
Anyway I will go ahead and cancel the other DD, and send a letter to the bank, and see how it goes.

thanks again.


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## HostBidder (3 Jun 2011)

indept said:


> ... I called into the bank today and was advised I cannot cancel the DD on the loan...


Maybe someone will correct me here, but it is my strong opinion that the money in your bank account is your money and the bank are obliged to allow you to cancel any DD from your account.  Personally I'd hand deliver them a letter with the request they cancel it.


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## indept (24 Jun 2011)

*Update*

Hi Guys, 
Just wanted to post an update re the bank. 
I contacted them again, and I sent in a letter. I basically requested they cancel all my DD's including the DD for my loan. I also added in the letter that I was very annoyed at the fact, that I have been a loyal customer for over 10 years, and have never missed a payment, and on three occassions I asked them to restructure the loan to an amount that I could afford. Anyway they contacted via phone and said they have stretched it out over the longest period of time, and couldnt do no more, they also advised me they could not cancel the loan dd as it was in my contract!!!
Anyway they tried to take the loan repayment, and left me completely in the negative, I had no money for the week, and had to borrow again. I called them and advised them there would be no money available, and they said we will attempt to take the funds again, and three times before it is outsourced, to a collections agency I assume. So I told them to do this, as they where not listening to me. So they have not tried to take the funds again, and I am now waiting on a letter from them to see what the next steps are. I have an appointment with MABS in July, so I will have to wait and see the outcome. 
I am really so annoyed at the fact that I have tried so many times to come to an arrangement, and they just would not accomondate me. 

Anyway this is where I stand at the moment. I have opened an account with another bank, and have transferred my money over to it.


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