Bank loan payment prob....not sure what to do

[nutcracker]

Right i have a bank loan and the payment is due to go out on the 21st/22nd. At the mo i am about 30 quid short of the total amount that should go out and i'm not entirly sure what is the best course of action to take.

I have never missed any payments before but with the kids birthdays and xmas i am a bit short and there is no way i can put any cash in before the 23rd.

Do I ring them and explain and see what they suggest or do you think they would change the DD date to the 23rd ?? I mean it would only be a day later, but if they take it on the 22nd i am gonna get charged 30 quid for going overdrawn if they still take it or if they don;t take it i will have defaulted on the loan and then will get charged 30 quid for the money not going out.

HELP

Any suggestions greatfully recieved
Oh apart from selling my body, it's pounds i'm short of, not pence

phone the bank and either cancel current DD to the date you can afford, or explain your prob. which bank is it? mine is lloyds and i had to do this a couple of times ( before i finally admitted im shite with money and let dp deal with it all).
it will be easier for the bank to cancel dd and then reinstate it as opposed to delaying it, but you must do it pronto and you probably need to go into the branch to arrange new dd
hth!

Hi emma, it is Barclays, i think i wil ring them and just cry and see if that helps

Did you get my email last night ??

It is actually a genuine mistake, i thought the 22nd fell on next tuesday and so i would have had plenty in there to cover it, but i wasn't looking properly and it is monday DOH!

barclays are probably better than lloyds, dp banks with them and they are always quite flexible when we go over the top ( when he goes over the top should i say)- crying always works when dealing with banks i have found!

i dont think i got an email- ill check in a minute.

Def talk to them, they'd rather do this and get their money than not IYSWIM. I do this a couple of times a year because I got paid 4 weekly, and everyone else seems to work on calender months. I've never had a problem yet wuth getting companies to delay a DD for a day or so. So long as you give them enough warning, all they have to do is adjust your details so they request the money a little later. For a bank this must be very easy.....

phone them today to give them enough notice. i was 30quid short on my loan payment by didnt relasie till 2 days b4, so tried tochange it but didnt have time. in teh end i had to raid savings and tighten up that week to raise the 30quid.

Thanks . i am gonna ring them as soon as Ds is asleep, wish me luck

[grin

Thank god, they have changed the dd date to the 23rd so all is well. Apparently this will incur an interest charge or something tbh i wasn't really listening to that bit.

Oooooh the relief

Do you have an agreed overdraft? If not, it might be worth asking for them to set one up for you. Then if this arises again in the future you won't get penalised for going overdrawn for just one day.

Yeah i already have one Freckle, thanks anyway

Nutcracker, I know you have other things on your mind but I really would like to know your glasses prescription. I have something up my sleeve....!