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Cancelled direct debit

  • 06-12-2020 2:09pm
    #1
    johnnytdi
    Registered Users Posts: 28 ✭


    Good afternoon all
    Can anyone please offer me advice. I mistaken cancelled my mortgage direct debit Friday afternoon while removing old ones.
    I tried to ring the bank immediately but got no answer. I will try again tomorrow I’m worried because my mortgage payment is due on Thursday.
    I can ring them Thursday morning and pay with a debit card and reset the debit. will this cause me any problems other than a direct debit missed payment charge I have seen all sorts online about banks starting foreclosure proceedings etc would this be the case. Has anyone been in this situation before.
    Thank you


Comments

  • #2
    coylemj
    Registered Users, Registered Users 2 Posts: 25,479 ✭✭✭✭coylemj


    No bank is going to foreclose on a loan for one missed payment. Phone them on Monday, explain what happened and ask how you can set up a new DD mandate. These things happen, I wouldn't sweat about it. If you have a good track record of making payments on time, you'll have lots of goodwill to fall back on and this won't affect your credit record.


  • #3
    Bikerman2019
    Closed Accounts Posts: 992 ✭✭✭Bikerman2019


    Lodge directly to the account and ring them to explain. I did this with PTSB and they told me there were unaware of it as it takes a few days to come back to them unpaid.


    Set up a new one and all will be good.


  • #4
    johnnytdi
    Registered Users Posts: 28 ✭johnnytdi


    Thanks all
    I will ring and explain Monday and make a manual payment on Thursday when it’s due. I guess I should check on here in future before asking google and be careful in future when deleting debits.


  • #5
    coylemj
    Registered Users, Registered Users 2 Posts: 25,479 ✭✭✭✭coylemj


    Bikerman2019 wrote: »
    Lodge directly to the account and ring them to explain. I did this with PTSB and they told me there were unaware of it as it takes a few days to come back to them unpaid.

    I wouldn't rush to make a manual lodgement because that will probably be seen as a one-off payment to reduce the term of the loan and is unlikely to stop them submitting the monthly DD to the OP's bank.

    The risk with manually lodging the monthly payment and setting up a new DD mandate in the space of a few days could lead to the OP making two payments in the same month. OP should ring the bank and see what they advise him to do.


  • #6
    Bikerman2019
    Closed Accounts Posts: 992 ✭✭✭Bikerman2019


    coylemj wrote: »
    I wouldn't rush to make a manual lodgement because that will probably be seen as a one-off payment to reduce the term of the loan and is unlikely to stop them submitting the monthly DD to the OP's bank.

    The risk with manually lodging the monthly payment and setting up a new DD mandate in the space of a few days could lead to the OP making two payments in the same month. OP should ring the bank and see what they advise him to do.
    It worked for me when I did it. The girl on the phone said not to worry about it. That was PTSB


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  • #7
    Darc19
    Registered Users, Registered Users 2 Posts: 3,817 ✭✭✭Darc19


    Mortgage payment is due at the end of a month at the latest.

    Until then you do not have a "late payment" mark.

    However you will have a missed payment fee.

    I'd call tomorrow or Tuesday with payment so that no letter is generated from the missed payment.

    Another option is to check with your bank if they can reinstate the direct debit. - It may be as simple as a phone call.


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