Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

Irish Debt Bureau Payment Plan

Options
  • 21-03-2014 6:36pm
    #1
    cschear87
    Registered Users Posts: 15 ✭


    Hi All,
    Not sure if this is the right spot for this thread but here goes...
    I've entered into a payment plan for close to €3000 with the Irish Debt Bureau on behalf of Electric Ireland. My question is if I have a payment plan set up to send x amount of money via postal order every fortnight, can I send a payment on top of that via credit card? I'm sure it's not a big deal but for my own sanity I wanted to ask on here.

    Thanks a million!
    Tagged:


Comments

  • Options
    #2
    Pat Mustard
    Registered Users Posts: 9,554 ✭✭✭Pat Mustard


    It's difficult to answer your question without reading the agreement.

    That said, it's rare to hear of creditors refusing payment of debts.

    You will know that many credit cards charge very high interest rates, so maybe that could be an issue unless the credit card account is in credit.

    It might be worthwhile going in for chat with the people in MABS in relation to the overall situation. They are there to help people with debt problems.


  • Options
    #3
    coylemj
    Registered Users Posts: 25,351 ✭✭✭✭coylemj


    Why would you pay on top of the agreed plan? Just stick to the agreed schedule and use any spare money to pay off other debts or put it in a savings account and make some interest on it or have it there for a rainy day. I can't see that there's any benefit to you in making advance payments, unless they are charging you interest on the outstanding balance.


  • Options
    #4
    cschear87
    Registered Users Posts: 15 ✭cschear87


    coylemj wrote: »
    Why would you pay on top of the agreed plan? Just stick to the agreed schedule and use any spare money to pay off other debts or put it in a savings account and make some interest on it or have it there for a rainy day. I can't see that there's any benefit to you in making advance payments, unless they are charging you interest on the outstanding balance.

    I had a few quid left on a 3V voucher which I like to use to put towards bills etc. That's the only reason why. :)


  • Options
    #5
    234
    Registered Users Posts: 1,529 ✭✭✭234


    cschear87 wrote: »
    I had a few quid left on a 3V voucher which I like to use to put towards bills etc. That's the only reason why. :)

    It shouldn't be a problem, but call them and let them know that you are doing it. Sometimes early payments can confuse the software they use to regulate installment plans and the response to a missed payment.


  • Options
    #6
    Redsoxfan
    Registered Users Posts: 5,256 ✭✭✭Redsoxfan


    The Mustard wrote: »

    You will know that many credit cards charge very high interest rates, so maybe that could be an issue unless the credit card account is in credit.

    The interest kicks in if/when you don't settle your bill in full when it's due - which is not the same as having your account in credit.


  • Advertisement
Advertisement