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bankers draft

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(@nells99)
Trusted Member
Joined: 13 years ago
Posts: 53
Topic starter  

Hi

my car was valued by my trustee and it was agreed that through a 3rd party a payment would be made to allow me to keep the car.

The trustee asked for a bankers draft, but my 3rd party has sent them the full payment through their account through online banking.

Do you think this will cause problems ? as it is not what the trustee has asked for.

thanks


   
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TDA (Debt Adviser)
(@tda-debt-adviser)
Illustrious Member
Joined: 17 years ago
Posts: 13594
 

Hi nells99.

I cannot see any problem with that. It's a perfectly reasonable way to make a payment I'd have thought.

Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds


   
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(@twizzle)
Trusted Member
Joined: 13 years ago
Posts: 99
 

Perhaps they ask for a Bankers Draft as it won't/shouldn't bounce as a personal cheque might.
We paid our fee regarding interest in our home via on-line banking and sent our Trustee an e-mail asking for a receipt from them.
On-line transfers are free Bankers Draft costs to have one made out heard of some costing in the region off ยฃ25+.

Completed 3yr TD Sept '12 discharged Sept '12. Trustee discharged Jan '13
Building up savings.


   
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(@nells99)
Trusted Member
Joined: 13 years ago
Posts: 53
Topic starter  

Hi

I wasnt sure what a bankers draft was, then i read about them and the costs, which i thought was not fair on the 3rd party who is making payment for me. A bit of an old fashion payment method i think :(.

I also read that the UK Bankers organisation are looking to phase the payment method out.

i just hope the trustee are ok with this method payment.

thanks

Elaine


   
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(@nells99)
Trusted Member
Joined: 13 years ago
Posts: 53
Topic starter  

Hi TDA

I hope they are satisfied as i am in the last 2 month well hopefully !!!

Elaine


   
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Mark McFadyen
(@mark-mcfadyen)
Famed Member
Joined: 17 years ago
Posts: 4798
 

Hi nells99

That's certainly a new one on the forum. I've never heard of asking for a bankers draft as that normally occurs when you stick your car in the private ads section in the paper to ensure some stranger doesn't get your keys, V5 doc and then the cheque bounces!

I've no doubt the online payment will be fine.

Mark

Mark is not posting regularly in the Trust-deed.co.uk forum.


   
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Rob Hardie
(@rob-hardie)
Estimable Member
Joined: 13 years ago
Posts: 196
 

I would suspect ones payment is lodged with the trustee successfully this will suffice. Can't think of the logic behind the bankers draft???

Rob is not currently posting in the Trust-Deed.co.uk forum.


   
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(@nells99)
Trusted Member
Joined: 13 years ago
Posts: 53
Topic starter  

Hi All

TD called today, payment was accepted thank goodness, probably the only thing that has went right since i entered into the TD.

Next step is counting down the next two month as these will be the last payments. unless they want to check for PPI, which I have no doubt that I have never taken. I was always to miserable to take anything like that ๐Ÿ™‚

Elaine


   
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TDA (Debt Adviser)
(@tda-debt-adviser)
Illustrious Member
Joined: 17 years ago
Posts: 13594
 

Hi nells99.

Good... I didn't think that was going to be a problem.

Nearly there now!

Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds


   
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