If after this date money goes from your account to the lender, complain to your bank. It’s a good idea to follow up your phone call with a letter to your bank.
You can use the National Debtline’s Letter to withdraw a continuous payment authority with your bank.
Make sure that you tell the payday lender as soon as possible that you’ve cancelled the recurring payment because of difficulties paying back the money.
You will still owe the debt and the lender can go on charging interest and fees so it’s essential you get free debt advice to help you deal with the problem.
Before rolling over your loan, the payday lender must refer you to free debt advice.
And since July 2014 they cannot roll over your loan more than twice.
If paying back the payday loan means you’ll be short of money to pay priorities you should stop the money being taken.
When you applied for the loan you gave your card details to set up a continuous payment authority (CPA).
(See How to complain about a payday lender below.) If you can’t afford the loan repayments or are worried about paying the loan means you might not be able to pay for essentials, such as: If you’re struggling with money, you can talk to someone today, online, by phone or face to face.
We have specially trained advisers who can help you start sorting out your financial problems.
If they don’t meet this deadline, or you feel that they haven’t answered your complaint properly, you can complain to the Financial Ombudsman Service.