Cancelling CRA's clarification please

[cecilia]

Re: Cancelling CRA's clarification please

Hi,
Withdraw all your cash then report the card as stolen/lost to the bank they will issue you a new card which should prevent any payment from the lost or stolen card. I have done this myself and it always stops any payment from the old card.

It is tricky, as I have no idea what time my wages go into my account, and the PDL's take their money on Payday. I have to report the card before Payday,as some of these companies hit your account at 5am in the morning, right?

[helmsman]

Re: Cancelling CRA's clarification please

Hi,
Withdraw all your cash then report the card as stolen/lost to the bank they will issue you a new card which should prevent any payment from the lost or stolen card. I have done this myself and it always stops any payment from the old card. If they think you cant pay they will try and try again to collect.

[cecilia]

I have a number of PDL's, and have never defaulted on any of them. I got into a spiral where I would pay them off in full, then take them out again. However, this month one of my PDL's took the full payment, and when I tried to reloan could not. So, I am short this month, and will not be able to meet all my payments. I am guessing the others may do the same.

I have read that some of the PDL's will not enter into a repayment plan until you have defaulted.

I am confused, as the advice on here is that you should report your card lost or stolen, and ask them to stop all recurring payments, to prevent PDL's from raiding your account. However, I have read on another well known site, that this does not make any difference. They can still take the money from your account. It seems a bit hit and mess, dependent on who you bank with. I have a colleague who cancelled her card, and did not tell them to stop her CRA's and they did not take the money.

I have never defaulted with any of them, and have every intention of paying them, but don't want to be left in a position where I can't pay my rent and utilities.

Has anyone had any recent experience with cancelling a CRA?

Does anyone have any idea what time the CRA's try for their money. I know Wonga state on their site, they try at 5am in the morning. I just don't know what time my wages get transferred into my account?