Cancel Payment Assist: Step-by-Step Guide

How to cancel Payment Assist early and protect your rights as a UK borrower

Understanding Payment Assist and your cancellation options

Payment Assist is a credit provider that lets you spread the cost of healthcare, dental, veterinary, and optical treatments across monthly instalments. When you accept a Payment Assist plan, you enter a formal credit agreement-a legally binding financial commitment that differs fundamentally from a subscription service you can simply switch off.

Your circumstances change. You may have found cheaper alternative finance, discovered you can now afford to pay upfront, or faced a shift in your financial situation that makes monthly payments unaffordable. Whatever your reason, you have clear consumer rights under UK law, and Tocancel is here to guide you through the cancellation process with confidence and clarity.

What Payment Assist provides

Payment Assist offers point-of-sale credit for medical and dental treatments you need immediately but cannot pay for upfront. Instead of delaying necessary care, you access the service at your practitioner's office and spread the cost over weeks or months. The company partners with thousands of practices across the United Kingdom, making it a common financing option at the moment you book a procedure.

Most agreements include an interest-free promotional period lasting six to twelve months. During this window, you repay only the capital borrowed, provided you meet minimum monthly payment requirements. Once the promotional period expires-or if your agreement sits outside one-interest accrues at rates typically between 9.9% and 29.9% APR, depending on your creditworthiness and specific terms.

Why you might want to cancel Payment Assist

You may choose to cancel if you've secured better finance elsewhere, can now afford to pay for treatment without credit, or find monthly payments unaffordable due to changed circumstances. Early settlement can also reduce the total interest you pay, especially if you settle before a promotional period ends and interest is triggered.

However, cancellation carries costs. Early settlement may trigger interest backdated to the original purchase date, or you may face administration fees. This is why Tocancel recommends obtaining your exact settlement figure directly from Payment Assist before you proceed-so you understand the true cost of cancelling.

Payment Assist pricing structures and settlement costs

Understanding what you owe is the foundation of any cancellation decision.

Interest-free promotional periods

Many Payment Assist agreements begin with a zero-interest window, typically six to twelve months. During this period, you repay only the capital borrowed, as long as you meet minimum monthly payments. Settling your balance before this period ends saves you significant money.

Critical warning: missing even one payment during a promotional period often triggers immediate interest, sometimes backdated to the original purchase date. You could suddenly owe hundreds of pounds more than expected. Set automatic reminders for each payment date to protect yourself.

Standard credit agreements with interest

Agreements outside promotional periods accrue daily interest on your outstanding balance. Interest rates vary between 9.9% and 29.9% APR, depending on your credit profile and the terms you agreed. The longer you hold the balance, the more interest accumulates.

Request a settlement statement from Payment Assist to see exactly how much interest you've already incurred and how much you would owe if you settled today. This figure is legally required under the Consumer Rights Act 2015 and must be provided within seven working days of your request.

Early settlement fees

Some Payment Assist agreements include early settlement fees or administration charges. These vary by agreement type and must be clearly stated in your original credit agreement paperwork. Review your contract before cancelling, or contact Payment Assist to confirm whether fees apply to your specific plan.

Your consumer rights and Payment Assist obligations

Under UK consumer law, Payment Assist must provide you with clear, fair treatment and transparent information about your agreement.

Your legal position under the consumer rights act 2015

The Consumer Rights Act 2015 and the Financial Conduct Authority (FCA) regulations give you specific protections as a consumer credit borrower. Payment Assist must provide you with a settlement statement-the exact amount needed to repay your loan in full-within seven working days of your request. This figure is binding and protects you from unexpected hidden charges.

You also have the right to cancel within fourteen days of accepting your agreement, provided you received all required information beforehand. This cooling-off period applies to most Payment Assist contracts. If you fall within this window, you can cancel without penalty and receive a full refund of any payments made, minus any interest accrued during your use of the credit.

If you fall outside the fourteen-day cooling-off period, you retain the right to repay the loan early. Payment Assist cannot penalise you for early repayment beyond genuine, quantifiable costs (such as interest already accrued). Tocancel emphasises this point: you are in control of your cancellation timeline.

FCA supervision and your escalation rights

Payment Assist holds an FCA licence to provide consumer credit. If the company refuses to provide a settlement statement, disputes your cancellation request, or treats you unfairly, you can escalate your complaint to the Financial Ombudsman Service (FOS). The FOS is independent and free to use. It can order Payment Assist to reimburse you and award compensation if you've suffered loss or distress due to poor treatment.

To lodge a complaint with the FOS, visit financial-ombudsman.org.uk or call 0800 023 1082. You must first give Payment Assist eight weeks to respond to your complaint in writing. If you're unhappy with their response or they don't reply, the FOS can investigate on your behalf.

How to cancel Payment Assist step-by-step

Tocancel guides you through each method of cancelling your Payment Assist agreement, from online to telephone to postal approaches.

Step 1: request your settlement statement

Before you cancel, obtain a written settlement statement showing the exact amount you owe. This is your foundation for making an informed decision.

1. Contact Payment Assist on 01664 503151 (Monday to Friday, 9am to 5pm)
   • Ask specifically for a "full settlement statement" or "early repayment figure"
   • Request the statement be sent by email or post, whichever you prefer
   • Confirm the statement's validity period (usually 30 days)
2. Alternatively, request the settlement statement through your online Payment Assist account
   • Log in to your account on the Payment Assist website
   • Look for "Account", "Settings", or "Statement" options
   • Select "Request settlement statement" and confirm receipt by email
3. Expect the statement within seven working days
   • The statement will show your remaining balance, accrued interest, and any applicable fees
   • Keep a copy for your records and future correspondence

Step 2: notify Payment Assist of your cancellation intent

Once you have your settlement figure, formally notify Payment Assist that you wish to cancel and repay in full.

1. Call Payment Assist on 01664 503151
   • Request to speak with the "cancellations" or "early settlement" team
   • Provide your full account number and personal details
   • State clearly: "I wish to cancel my Payment Assist agreement and repay in full"
   • Ask for confirmation of the amount due and the deadline for payment
   • Request a confirmation email summarising the call
2. Alternatively, cancel online through your Payment Assist account
   • Log in and navigate to "Account" or "Manage agreement"
   • Select "Request cancellation" or "Early repayment"
   • Follow the prompts and submit your request
   • Save the confirmation screen or email confirmation
3. If you prefer postal cancellation (less common, but permitted)
   • Write a formal letter to: Payment Assist, [company address-see final section]
   • State your full name, account number, and cancellation request
   • Request written acknowledgement of receipt
   • Send by Special Delivery or registered post to prove delivery
   • Allow 10-14 working days for processing

Step 3: arrange payment of your settlement amount

Once Payment Assist confirms your cancellation and settlement figure, you must repay the full balance within the agreed timeframe (typically 14-30 days, depending on your agreement).

1. Check your settlement statement for payment methods
   • Payment Assist accepts bank transfers, card payments, and cheques
   • Ask for the correct bank details or payment reference during your cancellation call
2. Make payment using the method most convenient to you
   • If paying by bank transfer, use your account number as the reference so Payment Assist can identify the payment immediately
   • Request a receipt or payment confirmation for your records
3. Confirm payment received by Payment Assist within 48 hours
   • Call or email to verify the payment has been processed
   • Obtain written confirmation that your account is now settled and closed

Step 4: obtain written confirmation of cancellation

Once Payment Assist receives your final payment, request a written confirmation letter stating your agreement has been cancelled and your account closed.

1. Request a "cancellation confirmation letter" from Payment Assist
   • This letter proves the account is settled and no further charges apply
   • Ask for it to be sent by email for immediate receipt
2. Check the letter for these key details:
   • Your full name and account number
   • The date the account was cancelled
   • Confirmation that the balance is £0 and no further payments are due
   • A statement that no interest will accrue after the cancellation date
3. Keep this letter for at least three years for your records and protection

Common mistakes that delay or complicate your cancellation

Many people accidentally prolong their cancellation or incur unexpected costs by overlooking simple steps. You can avoid this with care and attention to the details below.

Missing your payment deadline

If you agree to a repayment deadline but miss it, Payment Assist may assume you've withdrawn your cancellation request and revert your account to standard monthly payments. Interest will continue to accrue, and your cancellation may be cancelled.

Mark your payment deadline clearly in your calendar and set mobile reminders at least five days before the deadline. If you anticipate difficulty meeting the deadline, contact Payment Assist immediately to request an extension-most will grant a reasonable extension if asked in advance.

Failing to obtain a settlement statement before cancelling

Without a settlement statement, you don't know your true liability. You may believe you're paying off your agreement, only to discover Payment Assist charges you an additional fee or claims interest you hadn't accounted for. Always request and receive your settlement statement in writing before you arrange payment.

Paying via methods that lack documentation

If you pay by cash or cash-in-hand, you have no proof of payment. If Payment Assist claims they never received it, you cannot dispute the claim without evidence. Always pay by traceable method-bank transfer, card, or cheque-and keep your receipt or payment confirmation.

Not confirming account closure after payment

You must confirm that Payment Assist has received your payment and closed your account. If you don't verify this, the company might apply further interest or attempt to continue collecting monthly payments. Call or email Payment Assist within two working days of making your settlement payment to confirm closure in writing.

What happens after you cancel Payment Assist

Cancellation is not the end of your involvement; you need to ensure the process is complete and your records are updated.

Your credit file and Payment Assist

Once you cancel and settle your Payment Assist agreement, the account will show as "closed" on your credit file. This is a positive signal to future lenders, as it demonstrates you've repaid the credit in full. The settled account will remain visible on your credit file for six years (in line with standard UK credit reporting), but it will not negatively affect your credit score once closed.

Check your credit file with Experian, Equifax, or TransUnion (the three major UK credit reference agencies) within 30 days of cancellation to confirm the account is marked as settled. If it's not updated within two months, contact Payment Assist and request they notify the credit agencies of the settlement.

Confirmation documents to retain

Keep these documents for at least three years:

• Original credit agreement and terms and conditions
• Settlement statement (showing the figure you repaid)
• Payment confirmation or receipt (proving you paid)
• Cancellation confirmation letter (stating the account is closed)
• Email or call records of your cancellation request

These documents protect you if Payment Assist later claims you owe money or if a dispute arises. Tocancel strongly recommends storing digital copies in secure cloud storage and keeping physical copies in a safe place.

If Payment Assist continues to contact you after cancellation

If Payment Assist sends payment reminders, statements, or requests after you've cancelled and settled, respond immediately in writing (email or post) with your cancellation confirmation letter attached. State clearly that your account is closed and you owe no further payments. Keep copies of all correspondence.

If contact persists despite your written objection, you can escalate a complaint to the Financial Ombudsman Service (FOS). The FOS can order Payment Assist to cease contact and compensate you for any distress or inconvenience caused.

Timeline and refund expectations

Understanding timescales helps you plan your cancellation and know what to expect at each stage.

Refunds within the fourteen-day cooling-off period

If you cancel within fourteen days of accepting your Payment Assist agreement, you have the statutory right to a full refund of all payments made, minus any interest accrued during your use of the credit. Payment Assist must process this refund within fourteen days of your cancellation request.

Outside the cooling-off period, you are not entitled to a refund of payments already made. You are only entitled to cancel your agreement and stop future interest accrual. Any refund or credit available after the cooling-off period depends entirely on the terms of your specific agreement.

Tocancel checklist: cancelling Payment Assist safely

Use this checklist to ensure you've completed every essential step and protected yourself throughout the cancellation process.

When to escalate: your complaint rights

If Payment Assist refuses your cancellation request, disputes your settlement figure, or treats you unfairly at any stage, you have formal escalation routes.

Raising a complaint with Payment Assist

First, lodge a written complaint with Payment Assist's complaints team. Send your complaint by email or post (see address below) with clear details of what went wrong, when, and what resolution you're seeking. Payment Assist must acknowledge your complaint within three working days and provide a final response within eight weeks.

Escalating to the financial ombudsman service

If Payment Assist doesn't resolve your complaint within eight weeks, or if you're unhappy with their response, you can escalate to the Financial Ombudsman Service (FOS). The FOS is free and independent. It investigates on your behalf and can order Payment Assist to reimburse you or award compensation for distress, inconvenience, or financial loss.

Contact the FOS at financial-ombudsman.org.uk, call 0800 023 1082, or write to: Financial Ombudsman Service, Exchange Tower, London E1 6AN. You must make your complaint within six years of the event (or within three years of becoming aware of it, whichever is sooner).

Key takeaway: you control your cancellation

Cancelling Payment Assist is straightforward when you follow the steps methodically. Request your settlement statement, notify the company in writing of your cancellation intent, arrange payment, and obtain written confirmation of closure. Payment Assist cannot prevent you from repaying your loan early, and UK consumer law protects your right to do so without unreasonable penalty.

If you encounter resistance or unfair treatment, Tocancel reminds you that the Financial Ombudsman Service exists to protect you. You are not alone in this process, and the law is on your side.

For more guidance on cancelling other services and understanding your consumer rights, visit tocancel.com. Tocancel has helped thousands of consumers cancel unwanted services, settle disputes, and reclaim control of their finances. Whether you're cancelling Payment Assist or any other financial service, Tocancel provides clear, actionable advice backed by consumer law expertise. Your rights matter, and cancellation is always within your reach.

Payment Assist contact details and postal address

Telephone: 01664 503151 (Monday to Friday, 9am to 5pm)

Email: Check your agreement or call the number above to request the email address for cancellations or complaints

Postal address for cancellation or complaints:

Payment Assist Customer Service
Melton Mowbray
Leicestershire
LE13 1HY
United Kingdom

Always send postal requests by Special Delivery or registered post to obtain proof of delivery.