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  • Moneyway keep taking payments!

    So I made the last payment on my car loan on the 3rd of January. Normally the payment comes out on the first, but it was new year, so the direct debit came off late.
    That's me officially debt free now (once I stop dipping back into my overdraft each month).

    Today (31st of January, a day earlier than my payment would normally have been made) Moneyway took a payment that was a little over 150% of my regular payment, despite the account having been settled already.
    Does anyone know how I go about claiming this back from them? My bank is trying to reclaim the money on their end and I have put a block on them collecting any more money from me, but I know that they will likely fight this and keep coming after me. Any advice?

  • #2
    Re: Moneyway keep taking payments!

    none at all, but you were correct in stopping all payments to them. wait and see if your bank can get it back,
    I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

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    • #3
      Re: Moneyway keep taking payments!

      I've never had car finance so I'm not sure why they've taken this extra apyment. Have you received written notification that the account is settled? I'm not sure if you would do or not.

      Anyway, as NW says, you were right to stop the payments. I hope that your bank can recover the erroneous payment for you. Good luck
      Let your smile change the world but don't let the world change your smile


      I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

      If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

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      • #4
        Re: Moneyway keep taking payments!

        Not had any correspondence from them since July, when I got a statement on the remaining amount on the policy. I double checked to make sure when the last payment was (it was originally supposed to have been in December, but I had deferred one payment, making the last one due in January). Other than that, I've not heard anything from them at all. Having no luck in contacting them either. Emails just go unanswered.

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        • #5
          Re: Moneyway keep taking payments!

          Are you sure it wasn't a balloon payment? Some car finance agreements have a balloon payment at the end. Basically they reduce the monthly payments and add 1 final payment to the end to cover the arrears. Usually when you part X a car the balloon is taken in to account when calculating what you have to go against the next one. But if you don't part x or give it back, you pay the balloon.
          I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

          If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

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          • #6
            Re: Moneyway keep taking payments!

            Definitely not the balloon payment. Like I said, I took into account the last statement that they did give me and I've covered it all.

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            • #7
              Re: Moneyway keep taking payments!

              I think going to the bank is the first step , make an appointment taking any paperwork if need be.Good luck xx
              if you do it today and you like it you can always do it again tomorrow


              I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

              If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

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              • #8
                Re: Moneyway keep taking payments!

                Originally posted by Dyomun View Post
                Not had any correspondence from them since July, when I got a statement on the remaining amount on the policy. I double checked to make sure when the last payment was (it was originally supposed to have been in December, but I had deferred one payment, making the last one due in January). Other than that, I've not heard anything from them at all. Having no luck in contacting them either. Emails just go unanswered.
                Have you tried writing to them by post as your emails are going unanswered?

                From their website:

                Write to us at:

                Moneyway
                One Arleston Way
                Shirley
                Solihull
                West Midlands
                B90 4LH

                To enable us to deal with your enquiry as quickly and efficiently as possible, please mark your envelope with the name of the department, eg. 'Retail Finance'.

                In the letter I would give them 14 days to reply to you. I'd also either send it recorded delivery or at least get proof of posting as it seems they aren't very good at replying.
                Let your smile change the world but don't let the world change your smile


                I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

                If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

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