Below you will find the download link to an example letter you can use to cancel Continuous Payment Authority for your outstanding payday loans.
Doing this should mean that the lender will not empty your bank account leaving you high and dry.
CPA means that a payment can be taken at any time without notice and is commonly used by Payday Loan companies to collect your repayment at the end of the month.
To use this letter, simply change the bits in bold text to your own information and you should be good to go.
The letter is in Microsoft Word Format and is ready to use with your own information.
The Example Letter to Cancel Continuous Payment Authority
Mr Debt Man
123 Debt Avenue
1st July 2012
112 Debt Road
Account Reference: Mybigdebt1234
Dear Sir or Madam,
I currently have a payday loan with Payday Debts and this loan is being paid using a continuous payment authority.
I am hereby withdrawing my authorisation for any further payments to be taken from my account for this debt.
The last four digits of the card currently being used to take payments is 1234.
In accordance with the Payment Services Regulations which are run by the Financial Services Authority, any further payments taken from my card will be an unauthorised transaction.
I would appreciate you sending me confirmation that the above request has been dealt with.
Mr Debt Man
Download the Example Letter to Cancel Continuous Payment Authority
Visit the downloads page to get your copy of the Example Letter to Cancel Continuous Payment Authority.