If you have set up a Continuous Payment Authority (CPA) for a loan, using the ‘Stop payments’ feature to block the subscription transaction will not cancel your agreement with the lender.

Failing to make your scheduled loan repayments can have a severe negative impact on your credit score, lead to late fees, and result in the lender taking further collection actions. If you are struggling to make repayments, we strongly recommend contacting your loan provider directly to discuss your options before blocking any payments.