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  • #1

    Cancelling CRA's clarification please

    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?
    Tags: account, account holders, america, bank, banking, banks, basic account, branch, card, cash, ceo, con, court, cra, customers, debt, default, direct debit, email, fca, financial, fine, fos, friday, ico, ids, law, leeds, legislation, letter, loan, loans, lost, money, on hold, payday, pdl, phone, policy, rate, regulations, rip off, signature, staff, stolen, switching, training, withdraw, wonga, yorkshire
  • #2
    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.
    Last edited by helmsman; 25 August 2013, 11:04.

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    • #3
      Re: Cancelling CRA's clarification please

      Originally posted by helmsman View Post
      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?

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      • #4
        Re: Cancelling CRA's clarification please

        Money often gets taken at midnight. I would withdraw some cash to tide you over then cancel with bank. If you need more money you can always go to your bank with proof of id and obtain more money.
        I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

        If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

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        • #5
          Re: Cancelling CRA's clarification please

          Phone the bank today report card stolen and tell them to make no payments on the stolen card. Withdraw any money you need first.
          That's what I would do. Cym got there first.

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          • #6
            Re: Cancelling CRA's clarification please

            Originally posted by cymruambyth View Post
            Money often gets taken at midnight. I would withdraw some cash to tide you over then cancel with bank. If you need more money you can always go to your bank with proof of id and obtain more money.
            No cash to withdraw at the moment till Payday. My payday is in a few days. I know Wonga take at 5am in the morning.
            Last edited by cecilia; 29 August 2013, 09:49.

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            • #7
              Re: Cancelling CRA's clarification please

              Originally posted by helmsman View Post
              Phone the bank today report card stolen and tell them to make no payments on the stolen card. Withdraw any money you need first.
              That's what I would do. Cym got there first.
              No money to withdraw till Payday.

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              • #8
                Re: Cancelling CRA's clarification please

                As suggested, report the cards stolen, and go in to the bank to withdrawl money with proof of ID "when" you are paid.
                I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

                If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

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                • #9
                  Re: Cancelling CRA's clarification please

                  Originally posted by cecilia View Post
                  No cash to withdraw at the moment till Payday. My payday is Friday, so they will take at Midnight on Thursday. I know Wonga take at 5am on Friday morning.
                  Cancel today you will have a nice new card by Friday to withdraw YOUR hard earned money PDLs tell them to F Off.

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                  • #10
                    Re: Cancelling CRA's clarification please

                    Thanks all, will do. Lol @ Helmsman.

                    Do I need to ask the bank to put a stop on all CRA's when I cancel the card, or do I assume that they will do that?

                    Hope it works, as on the other site, others have done the same, and their accounts were still emptied out, despite reporting/cancelling the card.

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                    • #11
                      Re: Cancelling CRA's clarification please

                      You have a right to cancel any direct debit, and the banks have a right to stop any direct debits upon instruction from you, if they let it go through again demand your bank takes it back.

                      Go in to the bank, with a letter saying, i hearby give notice that i wish to cancel the standing order/direct debit paid to XXXXX for £xxx which is taken on the XX of every month, starting from XX/XX/XX.

                      Hand this to them.

                      Dont leave the money in there hoping they dont take it, still draw it out for now to be safe.

                      This is why i hate direct debits, standing order ONLY if i must, but i always try and pay by cheque instead.
                      I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

                      If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

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                      • #12
                        Re: Cancelling CRA's clarification please

                        Originally posted by SXGuy View Post
                        You have a right to cancel any direct debit, and the banks have a right to stop any direct debits upon instruction from you, if they let it go through again demand your bank takes it back.

                        Go in to the bank, with a letter saying, i hearby give notice that i wish to cancel the standing order/direct debit paid to XXXXX for £xxx which is taken on the XX of every month, starting from XX/XX/XX.

                        Hand this to them.

                        Dont leave the money in there hoping they dont take it, still draw it out for now to be safe.

                        This is why i hate direct debits, standing order ONLY if i must, but i always try and pay by cheque instead.
                        My understanding is a Continuous Payment Authority which PDL's use is different to a Direct Debit or Standing order,as they take their money from the details on your Debit card. Have read that once you default, they go behind your back and set up a Direct debit with the bank. Don't worry I won't leave money in my account. However, I have read about people who did all the above, and the PDL's still managed to take money.

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                        • #13
                          Re: Cancelling CRA's clarification please

                          I think that there has been recent clarification on this and that if you instruct a bank they can cancel these continuous payments. Just to cover yourself I would also send recorded delivery a letter to the bank cancelling all payments that are linked to the card that has been 'lost'.
                          I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

                          If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

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                          • #14
                            Re: Cancelling CRA's clarification please

                            I have decided to go to my branch and speak to a member of staff, and hand the letter over in person, cancelling all payments connected to the card.

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                            • #15
                              Re: Cancelling CRA's clarification please

                              Remember, no matter what the staff member tells you, its your account, you can stop any payment you like, if they dont agree, ask to speak to someone more senior. good luck.
                              I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

                              If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

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