We'd like to remind Forumites to please avoid political debate on the Forum. This is to keep it a safe and useful space for MoneySaving discussions. Threads that are - or become - political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
Stopping a automated debit card payment

michelleliverpool
Posts: 89 Forumite
in Credit cards
Hi folks,
This is quite urgent as I need to act fast. Basically I need to stop an automated debit card payment coming out THIS FRIDAY. Long story but with no prior warning, a certain company says they want the amount paying back in full and I am not entitled to an extension. problem is that if they take it out in full I wont be able to pay mortgage, other bills etc as I will be left with about£10.
Calle dthe bank-they cant do anything.
My question is if I cancel my debit card doe sthis mean they wont be able to take the payment?
Help please!
Thanks
Michelle
This is quite urgent as I need to act fast. Basically I need to stop an automated debit card payment coming out THIS FRIDAY. Long story but with no prior warning, a certain company says they want the amount paying back in full and I am not entitled to an extension. problem is that if they take it out in full I wont be able to pay mortgage, other bills etc as I will be left with about£10.
Calle dthe bank-they cant do anything.
My question is if I cancel my debit card doe sthis mean they wont be able to take the payment?
Help please!
Thanks
Michelle
0
Comments
-
You will have to contact the company taking the payment, your bank may not be able to stop this (unless it has been set up fraudulently ). Even if you cancel the card and close the a/c your bank will still send you the bill in the form of an overdraft.0
-
Cancelling the card will not make a difference, the bank will still allow the payment through.
The only option is for you to ensure there are no funds in the account at all for the company to take the payment (assuming you have no authorised overdraft?). There will be no charges by the bank, the card payment will just decline.
I assume this is a payday loan? If so, you need to open a new bank account, and make a payment plan with the payday loan to may them off in installments. I would recommend doing that through your account you have now, just paying enough in for the agreed payment to be taken. i.e. don't give them your new account details.
They are known for continually trying to take the payments by card or whatever will go through to claw back what you owe, so best only to leave in there whatever amount you agree to pay back on a monthly basis. Always get everything in writing.
hth,
pippitypipI know I'm in my own little world, but it's ok - they know me here!0 -
If this is a payday loan company, then you will read several threads around here, where basically the money has been taken regardless and you'll have a fight to do anything about it.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply

Categories
- All Categories
- 348.2K Banking & Borrowing
- 252.1K Reduce Debt & Boost Income
- 452.3K Spending & Discounts
- 240.8K Work, Benefits & Business
- 617K Mortgages, Homes & Bills
- 175.6K Life & Family
- 254K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 15.1K Coronavirus Support Boards