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.
Issues With New Loans
simonevans20
Posts: 1 Newbie
in Loans
Hi,
I was wondering if anyone can help?
I have recently taken a loan out with Tesco to consolidate a previous loan (Also with Tesco), so I could reduce the term length to pay it off quicker.
They have not taken my 1st payment yet which should have been nearly a week ago according to their documentation.
The direct debit has been set up for nearly 2 months ready for the 1st payment to come out. Also I have logged onto their website to check my account, and their is no record of my policy on their website.
Do I have any right to cancel my DD? Do they have any right to now take payment even though they failed to do so on the date specified with them?
Simon
I was wondering if anyone can help?
I have recently taken a loan out with Tesco to consolidate a previous loan (Also with Tesco), so I could reduce the term length to pay it off quicker.
They have not taken my 1st payment yet which should have been nearly a week ago according to their documentation.
The direct debit has been set up for nearly 2 months ready for the 1st payment to come out. Also I have logged onto their website to check my account, and their is no record of my policy on their website.
Do I have any right to cancel my DD? Do they have any right to now take payment even though they failed to do so on the date specified with them?
Simon
0
Comments
-
Do you mean cancel the DD and jog off merrily with the wonga never to repay a penny??
Why not ring them and ask what is going on?
Of course they can take payment, they have lent you the money and are entitled to at least TRY and recover some of it.0 -
phone them...sometimes payments are taken late0
This discussion has been closed.
Categories
- All Categories
- 347.2K Banking & Borrowing
- 251.6K Reduce Debt & Boost Income
- 451.8K Spending & Discounts
- 239.4K Work, Benefits & Business
- 615.3K Mortgages, Homes & Bills
- 175.1K Life & Family
- 252.8K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 15.1K Coronavirus Support Boards