Loan Provider Changed Payment Structure without Permission

Superhoopza Posts: 416
First Anniversary Name Dropper First Post Combo Breaker
I contacted Updraft and asked about what options they may have of reducing monthly payments, extending the loan, anything to discuss options. After being asked to fill out a form with my income and expenditure and waiting 6 days, I got a message to say my next monthly payment will be reduced and to ignore any messaged about missed payments. Following this we will discuss paying off the remaining balance.

I have contacted them to say that I only wanted to discuss options, not give them permission to make any changes which could leave me with a missed payment marker and then an arrangement to pay agreement on my account, which I do not agree to.

They usually take 24+ hours to respond per message and I have called four times but get told to leave a voicemail which can take 5 working days to be responded to. In the meantime, here is what I have done and would welcome any advice.

  • I have sent multiple messages on their live chat which they said is their preferred way to communicate, stating the importance of speaking to someone urgently about this.
  • I have also left in one of the messages, clear communication stating I did not agree to any changes to my payment structure which contravenes my contractual agreement, in case I need to dispute any arrangement to pay markets on my credit file.
  • They have said my direct debit will continue to be taken as normal so I won't change that and will check the full monthly payment was taken if this is not resolved before then.
In the absence of being able to get hold of them, is there any other advice people would suggest? This is causing unnecessary stress and I now regret even reaching out to them. I cannot believe they have made changes without my consent.


  • Superhoopza
    Superhoopza Posts: 416
    First Anniversary Name Dropper First Post Combo Breaker
    Got a response back from Updraft who have said the following:

    • as the missed payment would be less than one full monthly instalment, it would not be reported to credit agencies as a missed payment.
    • a payment plan would then be put in place for subsequent months and recorded as an arrangement to pay
    I will not be exploring either option and will be making my full payment each month.
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