How CPA Hurts Your Pay Day Loan Payment

If you have a pay day loan there may be a factor in place that’s causing you to have trouble with your other finances. It’s called the CPA, also known as continuous payment authority. When you apply for the loan, somewhere within all the paperwork was a detail that said you were setting up a CPA. This is how most payday loan companies take the repayment.

This directs a link to your bank and the payday lender saying they can take the money whenever they want. Even if you don t have enough money to payback, they will try again and again until they get their payment.