Advice please

[Deleted User]

Hello,

Please can I get help with some facts, really thought I was being proactive when it dawned on me payday this month falls a day late because there is a 31st this month but beginning to wish now I'd not said anything.

I know I've always said I'm not worried about my file but can a lender really mark your credit file same day? This is a payment delay of 24 hours.

Can a lender make the extra interest which has become payable on a date (even if you might be happy to pay this straight away) at the end of a loan repayment.

If they say they now have to cancel the CPA (even when you didn't ask or want them to) how can you trust them to reset it up? Can I check with my bank for instance it's back on?

Thanks for any help. I'm beginning to understand why people might feel threatened to go and get another loan to just keep first on track.

[Deleted User]

They can mark your file if a payment is late. This will generally happen in their next monthly update, rather than daily.

The terms and conditions will state what fees or interest are payable and when.

They won't want to cancel the CPA, unless they feel that no further funds will be coming from that account or card.

[Deleted User]

Oh right thanks long gone are the days when you'd only be penalised once. Boy lesson learnt.
Anyway I got the truth that the no late fee's was just a marketing ploy.

Yes the last sentence about CPA is just a really bizarre action, well they also said collection activety would start immediately even with a promise to pay, when I questioned if my employer would be called and contacted then, they started to back track a little on that.

Appreciate they probably have spoken to people all day hearing all the excuses in the world and I was just the last caller of the day. Thank you for responding.

[Deleted User]

Deleted_User wrote: »

They won't want to cancel the CPA, unless they feel that no further funds will be coming from that account or card.

A second insistence happened today that the CPA had been cancelled.
This is exactly how a lot of toothfairy customers got in to trouble, when left to make their own payments.

Woke up to email and text - none of the written communication so far specifies what happens to the credit file or the amazing cancellation of the CPA so I'm hoping to use that to aid the complaint.

I managed to make a token payment in being every bit the reasonable 'defaulter' here - curiosity will have to wait until they go to take their manual payment tomorrow. Let's see if a payday loan lender will remember their own verbal conversations or go by their borrower's online account...

Update 31/3/17 - After going round in circles I ended up clearing the loan today, don't know if that's the bigger risk just couldn't be dealing with it all when the manual payment didn't happen at the time stated. Before trying to convince me they weren't in Bury St Edmunds but in actual fact London.