If you can’t afford to repay the loan, you can instruct your bank or card provider to stop the payment being taken. You must do this at least one day before the payment is due.
Simply tell whoever issued your card (the bank, building society or credit card company) that you don’t want the payment to be made. You can tell the card issuer by phone, email or letter.
Your card issuer has no right to insist that you ask the company taking the payment first. They have to stop the payments if you ask them to.
Sometimes banks are reluctant to cancel CPAs. If your bank, building society or credit card company doesn’t refund your money for a payment they shouldn’t have allowed, write and ask for your money back under the company’s complaints procedure.
If you’re still not satisfied, you can complain to the Financial Ombudsman Service. You can contact the Financial Ombudsman Service helpline on 0300 123 9 123 or visit the website at: www.financial-ombudsman.org.uk.