At last, CFO Lending (Capital Finance One) have had their comeuppance

This is fantastic news and I am so happy that possibly the worst of all the lenders have been put to rights

FCA Article here: https://www.fca.org.uk/news/press-releases/payday-firm-cfo-lending-pay-34-million-redress

More info from Credit Today

http://creditstrategy.co.uk/article/18479/online-news/payday-lender-to-pay-34m-redress-to-97000-customers

I received an e mail on the 25th October telling me I was,one of the customers, due a redress

I rang them and they told me they had until march 2017 to pay this back if they know I am due a redress

why can they not pay this now as it would be handy for Xmas.

Feel like ringing them up or texting saying I am going to come to their house to collect payment

I believe they only have to contact all affected customers by March.

It might be worth sending them an email complaining about their unaffordable lending.

Then you would have to get a final response within 8 weeks.

Wonder how there would be able to contact people who have moved since being a customer.

whether repaid or not, a lot of people move and cant be contacted.

Same with the other company MMF whom are in process of contacting people,

again these people might have moved.

I believe they only have to contact all affected customers by March.

 

 

It might be worth sending them an email complaining about their unaffordable lending.

 

 

Then you would have to get a final response within 8 weeks.

irresponsible lending

give them 14 days

then off to the ROS/FCA

dx

Wonder how there would be able to contact people who have moved since being a customer.

 

 

whether repaid or not, a lot of people move and cant be contacted.

 

 

Same with the other company MMF whom are in process of contacting people,

 

 

again these people might have moved.

they are duty bound to carry out reasonably enquiries to contact people at their current/correct address.

if they don't

it leaves them open to a complaint running to 6yrs.

dx

Ive had an email fromthem today regardi the redress and they have said im.due £40. How do they work out how much you are owed i think thats a ridiculous amount especially for the amount they took from me

Maybe we need a list of all the directors and details of all the directors and the money that they have been able to make out of this.