Is cancelling a cpa a good or a bad idea?

B

BBT78

Member
Is it wise to cancel a CPA? (Continuous Payment Authority, for those of you who don't know what CPA stands for)
I do have some debt left, but not a lot, I'm currently trying to repair my credit score, so would it be wise to cancel the CPA, just in case I can't afford to make the automatic payment on month?
 
The choice is entirely up to you, it all depends on personal factors. For instance, many prefer to cancel the automatic payments, because they just can't afford to make it from one month to the next, many prefer to pay off their priority debts first, and postpone other installments for when they can afford it. If you can afford to pay all your installments on a monthly basis, then don't cancel your automatic payments, but of course this is more of a personal choice, no one can tell you what to do without more details about your current financial situation.
 
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