Urgent 118 Loans help!!

Digsyms8l

I recently needed access to some cash for a a couple of months, with a less than perfect credit file at the moment I used 118 Loans. I swallowed the high Apr knowing I would be settling early.

I have today phoned to settle the account and have been told they will not take a credit card payment, there is no mention of them not taking credit cards payment in their t and c's and I would certainly not have taken the loan out without the option the settle early via credit card.

My question is basically, are they allowed to do this?
I have offered to settle in full but they won't entertain it, even though having the debit on cc is going to literally save me thousands.

They admitted to me on the phone that they have the facility to take the payment but it's company policy not to.

Would much appreciate any help.

Browntoa

on the description


https://www.118118money.com/easy-ways-pay/


Easy ways to pay


Phone

You can pay over the phone by calling us on 08000 118 000 or 02920 893400. You’ll need your debit card to hand.

molerat

Unless specifically stated otherwise financial institutions generally do not take credit card payments for settlement of accounts.

Digsyms8l

Doesn't specifically say they don't accept them though does it.

I have never used this type of lender before but I have settled with lenders such as Barclay's Partner Finance in this way before with no issue.

[Deleted User]

Digsyms8l wrote: »

Doesn't specifically say they don't accept them though does it.

Doesn't specifically say they don't accept a handful of magic beans either.

They don't need to accept any particular form of payment.

Digsyms8l

What a cliche, a sarcastic internet forum dweller, well done zx81. You're great.

[Deleted User]

Not a problem. Happy to help.

tonyh66

Can you not do a cash transfer from the CC to your bank and then pay using a debit card?

foxy-stoat

It will be cheaper for you to draw out cash from your credit card, pay that into your bank and pay by debit card.

jonesMUFCforever

If you had a credit card why did you bother with the ridiculously high APR loan?

...Yes they can refuse to take a credit card for repayment.

DCFC79

Digsyms8l wrote: »

Doesn't specifically say they don't accept them though does it.

I have never used this type of lender before but I have settled with lenders such as Barclay's Partner Finance in this way before with no issue.

You could have phoned them and asked ?

You heard the phrase " assumption is the mother of all f*ck ups" ?

If it doesn't mention it then don't assume it's accepted.