I just wanted to get some other views on this, in my mind I don't think it's acceptable but maybe it is to some others ...
Our 3 year motor loan with First active was due to expire this September however we came across a nice car at a pretty good price so we decided not to wait till September to change our car and go ahead and get a new motor loan, we didn't renew with First Active as they were looking to know what we ate for breakfast every morning and we were in a rush for the money (since RBS took them over the guy on the phone said they're really stringent about everything now) so to save hassle and time we took out our new loan with PTSB. We owed First Active 3 months on the loan (€251 x 3) so I got a redemption figure from them and literally handed in the cheque the same day. We were told we'd have to pay them €989 which was more than we owed so they'd have enough to cover themselves should my direct debit for the previous month not get to them, fair enough. But - I gave them that cheque on the 19th of July, they cashed it a day or two later - my last direct debit left my account on the 5th July so they're more than covered now, they're since telling me I have to wait 30 days after the date of redemption - is that acceptable? 30 days is up tomorrow, it better be sitting in my bank account tomorrow morning!!
Our 3 year motor loan with First active was due to expire this September however we came across a nice car at a pretty good price so we decided not to wait till September to change our car and go ahead and get a new motor loan, we didn't renew with First Active as they were looking to know what we ate for breakfast every morning and we were in a rush for the money (since RBS took them over the guy on the phone said they're really stringent about everything now) so to save hassle and time we took out our new loan with PTSB. We owed First Active 3 months on the loan (€251 x 3) so I got a redemption figure from them and literally handed in the cheque the same day. We were told we'd have to pay them €989 which was more than we owed so they'd have enough to cover themselves should my direct debit for the previous month not get to them, fair enough. But - I gave them that cheque on the 19th of July, they cashed it a day or two later - my last direct debit left my account on the 5th July so they're more than covered now, they're since telling me I have to wait 30 days after the date of redemption - is that acceptable? 30 days is up tomorrow, it better be sitting in my bank account tomorrow morning!!