I am a proper wally & the mortgage will bounce on Thursday. What to do?

[ravenAK]

Dh & I had a conversation last week in which I said that I'd pay the nanny this week (we usually take it in turns, I paid last week) because he is waiting to be paid for a job he did last month & it's taking some time to extract the fee from the customer.

I then totally forgot that we'd had this conversation (it was late, drink had been taken...) & have since been merrily online Xmas shopping.

Dh reminded me this morning. I checked my balance later today, & I don't have enough to cover the mortgage payment on Thursday, & the nanny who will be expecting her money on Friday.

So as far as I can see it, my only option is to ring C&G, explain, & ask them to take the payment later in December.

But if they won't, all I can think to do is to cancel the DD anyway, so that at least I only get stung for their 'admin charge' & not my own bank's bounced DD charge.

Will this seriously piss them off & make things worse?

I can't not pay the nanny on time - C&G can afford to wait!

at conga!

always avoid doing the conga.

I'm guessing the OP is intelligent enough to make up our own mind anyway. Use Wonga, don't use Wonga - there are plenty of suggestions on this thread.

Good luck OP :)

If you can pay part of it, you should be able to make up shortfall next month without penalty, I think.

Make sure you speak to mortgage company rather than ignore though.

(and ouch at the size of your mortgage!)

In your position I would increase my o/draft by £200 or borrow it from somewhere.

If your mortgage ddm gets returned unpaid you will show that you went 1 down on your credit file for the following 12 months, or maybe longer dependant on the credit reference agency used and what day in the month C&G do a monthly report to the credit reference agencies. This will affect any future credit (I say that as an experienced mortgage underwriter and adviser) .

Your mortgage ddm will have already been raised automatically by C&G so it will try and claim the dd from your bank.

My posts are just my opinions and are not offered as financial advice

It's sorted ta, C&G were very helpful.

They've said to cancel the DD as it's already being processed, to avoid being charged by own bank. Then I've to ignore the automatically generated letter, make a manual payment within 10 days & they won't charge me.

Increasing OD wasn't really an option - already at maximum thanks to childcare crisis over the last few months. By the New Year I'll be back in the black as various backdated payments for work done by self/dh come in over the next couple of weeks.

Moral of story: do not go Xmas shopping without double checking outgoings with dh...I wouldn't mind, but most of it was presents for him!

Thats good then. Glad your sorted.