Finchoice Debit Order Cancellations
After a meeting between The Debt Counsellors Association (DCASA) and Finchoice/Homechoice it was confirmed that Finchoice/Homechoice debit orders cancellations will be swiftly actioned as long as Finchoice/Homechoice have already sent their CoB and the Debt Counsellor has sent
(1) a Form 17.2,
(2) the Debt Cancellation Form and
(3) a proposal.
Timing is key as Finchoice/Homechoice are unable to stop the debit run if these forms are submitted to close to when the debit runs (5 days).
The good news is that, because Finchoice/Homechoice have up to 10 days to implement the proposal, it was agreed that as long as they have received the proposal 5 days prior to the debit order running they will refund the payment either direct to client or PDA.
DCASA strongly suggest the refund goes to the PDA for distribution rather than to consumers, who may use the refund unwisely.