Loan problem

[akl-fan]

My wallet has been lost/stolen and as a result I have had to cancel all my cards. My loan payment is due to be taken on Monday but it will be refused as the card has been cancelled. I should have my new cards by Friday. ( My cards have not been fraudulently used - so it is just the pain of getting new cards - phew!!)

My question is - how will Member accounting deal with this late payment. Will I get charged a penalty? We have never made a payment late before. We have been member since 2008.

Could the payment being a week late impact on our September trip. If so I could ask my Dad to make the payment and could pay him back. - I would really rather not do this.

Should I phone accounting in advance and explain the problem?

Thanks in advance.
Katrina

 

[rlovew]

My wallet has been lost/stolen and as a result I have had to cancel all my cards. My loan payment is due to be taken on Monday but it will be refused as the card has been cancelled. I should have my new cards by Friday. ( My cards have not been fraudulently used - so it is just the pain of getting new cards - phew!!)

My question is - how will Member accounting deal with this late payment. Will I get charged a penalty? We have never made a payment late before. We have been member since 2008.

Could the payment being a week late impact on our September trip. If so I could ask my Dad to make the payment and could pay him back. - I would really rather not do this.

Should I phone accounting in advance and explain the problem?

Thanks in advance.
Katrina

I assume if the payment doesn't go through you will have issues. The loans don't go through a debit card however they are taken directly out of you account. If you are not closing the account but just replacing the cards you should not have an issue. They actually use a canceled check to set up the loan payment.

 

[erionm]

If the payment is just late, they will not cancel your September reservation. That would not happen unless you were more than 90 days past due.

 

[erionm]

I assume if the payment doesn't go through you will have issues. The loans don't go through a debit card however they are taken directly out of you account. If you are not closing the account but just replacing the cards you should not have an issue. They actually use a canceled check to set up the loan payment.

The OP is in Scotland and probably doesn't have a checking account at a US based financial institution. The Loans page contains the following:

You may not pay Monthly Payments online if you have your account set for recurring Direct Debit or Credit Card payments. If your account is current, you may pay toward your Principal or pay your entire Payoff Amount.

 

[Chuck S]

I would definitely call, email or fax Member Accounting and explain the situation before the payment date. Be sure to include your Member Number and account/contract number if using email or fax.

 

[akl-fan]

We do not have a US checking account. The loan comes off our credit card, which we pay in full at the end of the month. Our credit card number has changed so the payment to the old card will be rejected. I will not be able to give them a new number until Friday/ Saturday.

I will give them a call when they open.

 

[OrangeCountyCommuter]

Check your bank account. At least in the US the "pre authorized charges " keep going through.

 

[akl-fan]

Check your bank account. At least in the US the "pre authorized charges " keep going through.

You are right about bank accounts - none of our direct debits in Scotland will be affected. It is just this DVC payment as is will charge to a credit card that has been stopped.

( We may have to think about setting up a US checking account on our next trip)

 

[TagsMissy]

Op just saying I hope this was worked out with Member Accounting.

 

[akl-fan]

I have spoken to member accounting - as long as I make the payment with 14 days i will not incur any penalty. So in the clear - new cards should be here in the next few days.

 

[rlovew]

Glad to hear things are working out. Having to deal with things like this is no fun and i am glad that DVC had a policy where they could work with you on it.

 

[akl-fan]

Glad to hear things are working out. Having to deal with things like this is no fun and i am glad that DVC had a policy where they could work with you on it.

Thanks - It has been a pain in the neck but member accounting were lovely to talk to. This kind of thing really stresses me as I am one of those people who never makes late payments and whose cheque book must balance at the end of each month.

 

[TagsMissy]

Glad it worked out!



I'd found DVC is pretty good with giving grace periods with their payments whether it's dues or monthly loan payments.

 

[akl-fan]

Glad it worked out!



I'd found DVC is pretty good with giving grace periods with their payments whether it's dues or monthly loan payments.

Thanks