Best way to stop CPA on my card
Hi. I have a payment due on my card which I would like to stop.
It's a continuous payment authority for a loan but I need to negotiate other ways to pay it. I have contacted them and they said I need to put it writing but the timing of this means a payment will be taken.
Could ask for advice to ensure the CPA is cancelled and no attempt made to take a payment even at a later date?
Thank you
It's a continuous payment authority for a loan but I need to negotiate other ways to pay it. I have contacted them and they said I need to put it writing but the timing of this means a payment will be taken.
Could ask for advice to ensure the CPA is cancelled and no attempt made to take a payment even at a later date?
Thank you
:j
0
Comments
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With the lender.
They probably won't do it because you are contractually obliged to pay whatever you agreed to on the correct date.
What you are asking is not the best thing to do.
Could you not sell something or get some overtime at work to raise monies to pay this debt off.
You could contact your bank to stop payments but it does not get rid of your problems.0 -
Various ways and methods to do this, but it tends to depend on the type of card, and the bank concerned as to wether all methods will work or not.
Recomended way is to ring said bank and ask to cancel CPA.
But you have to give exact creditor details so the bank recognises the creditor in question, get any of the detail wrong, it may not work.
As well as the above, i used to use every method i could find to close down any other way they could take the money, you can report the card as lost/stolen, your new card will have a new 16 digit number the creditor does not have, some banking apps now allow you to put a freeze on certain transactions, I do not know if CPA is one of the available options though.
No guarentees all the above will work with every card, but usually they do.I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0 -
The bank will internally link the new card number to the old card number, so I don't believe that will work...or that it ever did work in these circumstances.sourcrates wrote: »...you can report the card as lost/stolen, your new card will have a new 16 digit number the creditor does not have...
After all, you'd want a loan payment to be taken if the original card was actually lost or stolen...wouldn't you? And you'd be kicking off in a big way if it wasn't!0 -
Reporting your card lost/stolen may not work. The transaction could come through to the old account, your issuer will notice it is a CPA (RT - Recurring Transaction or IPT - Instalment Payment Transaction) that originated prior to the loss/theft and simply pass it straight through to your new account. However, if the loan company first attempts to obtain authorisation for the payment, and that is declined, they may decide not to put it through and you can then expect trouble.
You can ask your issuer to cancel the authority for the transaction (if there is the time) which will simply mean you are potentially in breach of contract with the lender and they will contact you for payment by alternative means or put you in default.
Your bank should have no trouble identifying the company responsible for the transactions because you can point them towards previous transactions on your account from them.
You need to talk to the lender asap or you are going to end up with (more) problems.0 -
YorkshireBoy wrote: »The bank will internally link the new card number to the old card number, so I don't believe that will work...or that it ever did work in these circumstances.
After all, you'd want a loan payment to be taken if the original card was actually lost or stolen...wouldn't you? And you'd be kicking off in a big way if it wasn't!
When I was deep in debt with amongst other things, payday loans, I reported my card as lost, as i could not pay, creditors were not able to take payment as :
(A) 16 digit number was incorrect/did not match their records
(B) expiry date was different
(C) CVC code was different
Bank declined transaction after transaction because of this.
Some have said this did not work in their case, hence why i said there no guarentees, but it did work with my card, but as i said, its best to contact your bank.I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0 -
sourcrates wrote: »...you can report the card as lost/stolen, your new card will have a new 16 digit number the creditor does not have...
This likely will work but you will also have to sort out other CPAs that you may want to continue to pay so might be more hassle than it's worth - but lost/stolen is generally a good way to go.The views expressed here are my own. I am not a Solicitor nor am I affiliated with any of the parties I mention. If you disagree with any of my comments please say in whatever way feels most natural to you. No one self improves in a bubble!0 -
sourcrates wrote: »When I was deep in debt with amongst other things, payday loans, I reported my card as lost, as i could not pay, creditors were not able to take payment as :
(A) 16 digit number was incorrect/did not match their records
(B) expiry date was different
(C) CVC code was different
Bank declined transaction after transaction because of this.
Some have said this did not work in their case, hence why i said there no guarentees, but it did work with my card, but as i said, its best to contact your bank.
How long ago was this?
VISA Account Updater has been a thing for a few years so it's surprising they didn't know about your new card number.
https://www.google.co.uk/amp/s/amp.theguardian.com/money/2017/jan/12/how-amazon-know-new-visa-card-information-before-me-natwest0 -
Please don’t commit fraud, despite being advised to do so above.
I’m not very impressed that posts encouraging lawbreaking are allowed here, but it’s terrible advice.0 -
Davy_Jones_II wrote: »Please don’t commit fraud, despite being advised to do so above.
I can understand the principle behind what you're saying, but surely there is no fraud here? Anyone can lose a credit/debit card at any time. Saying that you have "lost" a credit card is no more fraudulent than having actually lost one.
But I have to agree - coming clean with the lender and trying to sort things out properly is better than using what some might consider underhand tactics to stop payment being taken... especially as those tactics may not actually work.0 -
I can understand the principle behind what you're saying, but surely there is no fraud here? Anyone can lose a credit/debit card at any time. Saying that you have "lost" a credit card is no more fraudulent than having actually lost one.
But I have to agree - coming clean with the lender and trying to sort things out properly is better than using what some might consider underhand tactics to stop payment being taken... especially as those tactics may not actually work.
"Obtaining pecuniary advantage by deception?"
Isn't that the textbook definition of fraud?0
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