PDL company admitted fault in final response offered compensation which was accepted and a date by which it would be paid was agreed. That date has come and gone and the PDL company now say they are to busy with claims to pay up and don't know when they will pay the money.

Is the agreement you already have with them as legally binding as it would be had they been directed to pay by the Ombudsman. It seems this is the latest from CFO lending and there are multiple reports of them doing this.

Yes it is binding.

by the way, please would you post up the letter in PDF format and also tell who the PDL is.

Ta

Yes it is binding - although I would like to see the PDF.

Not only is it most likely to be binding, if they have broken the agreement, they have given you an opportunity to renegotiuate and to insist on more money.

Let us know what it is all about.

This is what was received from them. I'm guessing as it was signed it is binding.

(By email only)

Telephone:0208 045 1382

Monday-Friday: 9am-5pm

Email: [email protected]

26th January 2017

Agreement Number *******

Dear ******

Thank you for your confirmation email which has been received on **th January 2017.

We can confirm the refund for the sum of £****** with 8% interest up to the date of payment as a full and final

settlement to this complaint and all further claims with CFO Lending will now be passed over to our accounts

department to be processed.

Please be advised all refunds have a cut-off point at 2pm and funds are sent at 4:30 Monday - Friday. All refunds are

processed and will appear in your bank account within 6-8 weeks from the date of receiving acceptance. As explained

in my final response letter, the £**** part of the FCA redress will be paid to you separately in due course.

CFO has deducted tax from the interest due to you at the basic rate of 20% as it is our understanding that we are

required by HMRC to do this. However, it is your responsibility to ensure that you have paid the correct amount of

tax. If you are not liable for tax at all, you can claim the tax we have deducted from HMRC. If you are liable for tax at

the higher rate, you are responsible for telling HMRC and for paying any additional amount of tax due. Should you

have any queries with this, we suggest you contact your local HMRC department

We will now consider your complaint to be closed.

Please monitor this thread for a fuller reply later.

However it would be helpful to know more details of the loan, if you had any difficulties, incurred charges etc. When did you take it out etc.

How was their repayment figure calculated.

By the way the letter is not an admission of liability. It is merely a settlement letter

A complaint was made to CFO and the complaint was upheld by CFO in their final response letter. So there is no liability issue. The issue is they agreed to pay within 8 weeks and the 8 weeks are up and they have not paid and say they do not know when they will pay as they are so busy processing other claims.

Thanks for this. If there is a final response letter where they actually admit liability then I'd be very grateful if you could put it up here.

The whole thing is that you could enforce the agreement by beginning a county court action. But if you're going to go to that kind of trouble then it would be well worth checking to see whether in fact they have done a quick calculation and that all your losses have been addressed before you go to the time and trouble of taking the matter to court.

It might be that they have shortchanged or it might be that you haven't presented your losses adequately.

If they have actually upheld your complaint – rather than simply offered you a settlement which is effectively really just an agreement to shut you up, then it would make a claim even easier than it already will be.

Sorry to bring this up a week later, but did this ever go to the FOS?

If so, and it was sent to an Ombudsman, the ruling would then be legally binding, but for now, it just looks like a resolution to an irresponsible lending claim.

It's also cfo. They've already been reprimanded by the fsa

Sorry to bring this up a week later, but did this ever go to the FOS?

If so, and it was sent to an Ombudsman, the ruling would then be legally binding, but for now, it just looks like a resolution to an irresponsible lending claim.

From what I understand you cannot go to the FOS before getting a final response from a company. As the complaint was upheld by the company there was again no reason to go to the FOS. With the company clearly not willing to honour the agreement it has now gone to the FOS. However you cannot be made to pay what you do not have and I believe they will somehow run out of money before they pay up.

CFO lending are in administration, doubt anyone's getting any redress. Told me I'd get some but been told by the administrators we won't get a penny.

CFO lending are in administration, doubt anyone's getting any redress. Told me I'd get some but been told by the administrators we won't get a penny.

As you can see from my post yesterday I was fully expecting this.

Yep - when i contacted them they said they had until the 31st March 17 to let people know - 6 days later they file..... - how utterly odd. The optics of that are that they waited, waited and then went down the admin/insolvency route. Unlikely the monies were ever there to redress.