Payday Loans: Payment Method

jacksufc90

Hi there.
First off, where are my manners, introductions.
I'm Jack, 25, and from South Wales. I live in Peterborough, and as part of this life of torture, I'm a Sheffield United fan. I am aware we've been stuck in League One for 5 years, and probably for another few too..

Anyway I'll jump to the point:
After moving into my flat in January 2015, I got myself into trouble with payday loans. It got into a cycle, one after the other, and evenutally have managed to come to an agreement to pay off £20 a month to each.
I paid them all on time in December, but by bank transfer, as I had problems previously with a company taking money from my card without agreement.

One of the creditors is insisting I pay by debit card. I haven't missed any payments, and have paid by bank transfer the agreed amount. I am continuing to pay by bank transfer.

My question, does a creditor have the power to insist on a payment method?

Thankyou! :beer:

DCFC79

Maybe they are insisting on payment by card if you for some reason stop doing the bank transfer, just a thought.

jonesMUFCforever

I think you are right to be concerned about giving your card details to them.
It has not been unheard of for unscrupelous lenders to empty someone's account to repay a debt.
Make sure you don't miss a payment and carry on as you are.

jacksufc90

Thanks guys.
I've never missed a payment on these loans, admittedly I wish I hadn't got into this situation, but it is what it is.

I'm always reluctant to hand over any card details. I try to pay everything that goes out of my account by direct debit, or bank transfer. IMO as long as they get paid, the companies can't insist on a method.

callistris

Just tell them you have a basic bank account with no debit card, its just a cash withdrawal card so therefore can only do the payments as you are offering.