Does cancelling my loan cancel my goods order?
No. Withdrawing from the credit agreement does not itself cancel the goods order. Check the seller's cancellation route separately, notify the lender and arrange repayment of credit already provided plus accrued interest. For supplier-side coordination, contact Cambridge China Bridge.
Identify the loan and the goods contract
This guide concerns China-made goods for your own home, such as furniture or curtains. If the purchase is business stock or equipment, describe that purpose accurately when asking the lender about withdrawal. Ask it to confirm whether the statutory consumer credit withdrawal right applies to your agreement.
Collect the signed credit agreement, order confirmation and any sourcing-service agreement. Identify the lender, goods seller and service provider separately. Use our seller or agent guide to clarify who accepted your order.
Send a clear loan withdrawal notice
For an agreement covered by the statutory withdrawal right, notice must be given within 14 days beginning with the day after the relevant day. Ask the lender to identify that day from your agreement records and confirm the deadline. Do not use the goods delivery date to calculate the loan deadline.
Use the withdrawal contact details supplied in the credit agreement. Write: “I withdraw from my credit agreement, reference [reference]. Please acknowledge this notice and confirm the repayment amount, deadline and payment instructions.” Keep the sent message and delivery evidence. Do not rely on a conversation with the seller to reach the lender.
Arrange repayment before waiting for a refund
Withdrawal leaves an obligation to repay credit already provided and accrued interest. Repayment must be made without undue delay, and no later than 30 days beginning with the day after you gave notice. Ask for the credit amount, interest calculation and payment destination in writing.
Ask whether the lender has paid the seller, whether that payment can still be stopped and where any seller refund will go. Map the money already paid before making another payment. Plan how to meet the repayment deadline while a refund is pending; keep repayment receipts and check the lender's updated balance.
Decide separately whether to cancel the goods
Loan withdrawal does not give you a right to return the goods or cancel their supply contract. If the order remains in place, arrange another way to pay. Our personal-order cancellation guide explains the separate goods cancellation checks, including genuinely made-to-measure items.
Send the seller its own notice identifying the order and requested outcome. Ask for written confirmation of cancellation, any return arrangements and the refund calculation. If you want to keep the goods, ask the seller to confirm the revised payment method and delivery arrangements. Request a production or dispatch hold while an uncertain outcome is checked.
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Close both records in writing
Obtain the lender's acknowledgement of withdrawal and, after repayment, confirmation that the repayment obligation is satisfied. Obtain the seller's separate confirmation of whether the goods order is cancelled or continuing, together with its payment or refund position. Check that any refund credited to the lender appears in the final account.
If the goods are missing or faulty, use our instalment-payment dispute guide for the dispute workflow. Cambridge China Bridge's staff in China can help check factory progress and relay supplier instructions. Obtain the loan-account outcome from the lender and the goods-order outcome from your seller.
Frequently asked questions
Does cancelling my loan cancel my furniture order?
Withdrawing from the credit agreement does not itself cancel the furniture order. Check the seller's separate cancellation route and obtain written confirmation of the goods-order outcome.
Can I just tell the seller to cancel the finance?
Use the withdrawal contact details in your credit agreement. Keep proof of your notice and obtain the lender's acknowledgement. Send the seller a separate message about the goods.
Should I wait for the seller's refund before repaying?
Plan repayment around the statutory deadline. Ask where the refund will go and reconcile it with the lender's balance. Do not assume a pending refund changes the repayment deadline.
What written confirmations should I keep?
Keep the loan withdrawal acknowledgement, repayment receipt and lender's final balance. Also keep the seller's cancellation or continuing-order confirmation and any refund or revised payment agreement.