Can loan agreement take payments from your debit card after redundancy?

i recently was made redundant and contacted the company who i have the loan with advised them that i could not make a full payment but they took a payment of my debit card as they have the details what can i do to stop this

Can loan agreement take payments from your debit card after redundancy?

contact your bank to see if it can be halted. and contact the lender again to make other arrangements.

Can loan agreement take payments from your debit card after redundancy?

Unless you have redundancy insurance the loan still stands as does the method by which it is set up to be paid :-(

All I can suggest is that you go to your citizens advice bureau and talk to a debt councillor - they ma be able to negotiate a respite from paying the debt. You could also ask the company who the loan is with to allow you to have a temporary break or pay interest only for a while until you get back on your feet.

They have no obligation to deal with you other than as per your agreement but most will be at least a little flexible as it is better that than pursuing a defaulter with no assets.

Good luck - hope it works out.