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Think about cancelling the recurring payment. If you cant afford the loan repayments or are worried about paying the loan means you might not be able to pay for essentials, such as: You can phone your bank and cancel the recurring payment (continuous payment authority) that allows your lender to take money from your account.
Do this at least one day before repayment is due cash advance loans kingsport tn make sure you tell your lender youve done so. Write down the date and time that you instructed your bank to cancel the recurring payment. If after this date money goes from your account to the lender, complain to your bank. The bank must give you a refund by law. Its a good idea to follow up your phone call with a letter to your bank.
Make sure that you tell the payday lender as soon as possible that youve cancelled the recurring payment because of difficulties paying back the money.
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