Direct Debit And Debt: Everything You Need To Know

Are you using direct debit to pay your creditors? This article explains everything you need to know about direct debit and debt.

Can I set up a direct debit If I am in debt?

You can open up a basic bank account with most debt solutions. If you are opening a basic bank account it will generally allow you to pay into the account, pay by debit card, set up direct debits and standing order mandates and draw money out from the cash machine.

Can I set up a direct debit to stop bailiffs?

Assuming these are bailiffs and not debt collectors. It’s extremely hard to negotiate with bailiffs especially if they have already been to your house before. They don’t tend to be interested in small payments. If you have a way of raising money to pay off a bailiff you are probably best doing that. They are extremely expensive.

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How do I cancel a direct debit?

You have the right and authority to cancel a direct debit at any time. You will need to make sure it is not a ‘continuous payment authority’ If it is then you will need to contact the company in question and ask them to cancel it.

Please note, Direct Debits are covered by the Direct Debit Guarantee which states: You can cancel a Direct Debit at any time by simply contacting your bank or building society. Written confirmation may be required. You find more information on the direct debit website.

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