You to sign up to Continuous Payment Authority (CPA) when you sign up to a payday loan, they’ll often ask.
But, that which you may miss is the fact that signing as much as thus giving the lender the authority to just take repayment funds from your own bank account as so when it really is due.
What the law states now states that they are just permitted to make two tries of using your hard earned money if there is inadequate funds in your bank account.
But into an unplanned overdraft if they do take your money without you realising, this could cause problems when it messes up your monthly budget and you have other bills to pay, or even take you. (more…)