Hi everyone, i had a loan with cfo some time ago and they took full payment for this loan aswell as taking additional money from my account forcing me to change banks. I have proof that they have had payment from me but im still receiving calls and texts. so today i received a text saying the following. "as you have failed to arrange a payment with CFO, all your numbers have been uploaded to be called continuously" Are they allowed to do this. I would class this as intimidation.

Hi I am hoping someone can give me some advice and steer me in the right direction. I took a payday loan out with CFO due to repay at the end of March. During the month I lost my debit card and the bank issued me a new one, I forgot however to update CFO. i then found at the repayment date I was unable to pay them back, they notified me that the payment had failed because they had my old card details. During this time I have been trying to sort my finances out but had to try and get some emergency funds about two weeks ago to repair my car. I applied on line and was referred to CFO again, not realising I had supplied all my details (including my new card number) they refused the loan as I had an outstanding debt with them. Didnt think anything more about it until today when my salary has gone into my account. There are 7 transactions on my account starting at 03.00hrs this mornin from them taking the total of my arrears on my original loan. I have phoned them and said that they did not have persmission or authority to process the payment on my new card, that the application on the second loan did not make it clear that my details would be used and updated and I demanded a refund. They have refused and stated it is is in the t&c's of the first loan - I cannot see anywhere in the paperwork it makes reference to them being allowed to do this. Surely they cannot simply retain my details, process them to update my account details and help themself to my money? I have wrote to them and advised that they did not have my authority to retain my card details, use it to pay the arrears when they choose and I have said I will raise issue with my bank. I am not hopeful that they will respond however. Can anyone provide me with any points of legal reference or guidance on what I should do? They have taken over £350 which has left me in financial hardship again this month.

Hi I am now with Stepchange but they have only offered advice and sent me a personal action plan, After reading a lot of your forum I have decided to fight the payday loan firms. I have copied and pasted the emails so far with CFO and as you will see I am out of my depth and not getting anywhere so any help would be much appreciated Here goes 1st Sent: Mon, 20 May 2013 11:55 Subject: CFO LENDING - YOUR CREDIT REPORT WILL BE AFFECTED Good morning xxxx OUTSTANDING BALANCE £1146.00 You have failed to contact us; this has caused your account to go into further arrears. This may affect your credit report if an immediate payment is not made now. To prevent any further action on your account contact us urgently on 02080451380 Regards CFO LENDING me to them Hi Can you please email me a copy of the credit agreement and a breakdown of all costs/ charges/ fees. Thank you 2nd Good morning xxxx Thank you for your email. Your agreement number is xxxxxx and your current outstanding balance is £1776.00. BREAKDOWN OF YOUR ACCOUNT Principal £750 + Interest £270 After looking through your account I can see you agreed to repay the full amount £1020 on your next pay day 26/04/2013. The minimum payment required was not met and you did not inform us of any financial difficulty, therefore interest and charges will still continue to apply as per contract. Your charges are 1.2% per day and calculated on a weekly basis which amounts to £63.00. Your charges so far: £25 (Late payment fee) £63 £63 £63 £63 £63 £63 £63 £63 £63 £63 £63 £63 £63 TOTAL = £1864 Every day the system will attempt to collect payments to settle your account. As no payments was made and there is no arrangement in place to freeze your account, therefore the collections procedures also applied as per contract. Since defaulting we have received £88 to date. I have attached a copy of your electronic contract agreement as requested. Moving forward in an effort for me to assist you further in setting a repayment plan that will freeze your account from the first payment we require the following information. • What is your proposed offer • When is your pay day • When can you make first payment • What method of payment (direct debit, standing order, cash, debit card) we recommend direct debit as payments are instant but need 12 days in advance to collect payments. I have also attached an income and expenditure form, please fill this in at your earliest convenience. Please note until a repayment plan has been accepted and the first payment has been received your account will be remain unfrozen, therefore the collections procedures will still continue to apply as per contract Kind regards Sharona CFO Collections Team I replied with stepchange letter offering 1 a month and included a budget from stepchange also from me to them Hi Thanks for your reply as you can see from my stepchange budget I have 11 pounds left over each month and 11 creditors which is why you will each receive 1 pounds. I have requested that you freeze the interest and charges which I again request that you do as these charges seem very excessive and unfair so while I try to sort out the financial mess I am in I will be seeking advice on fighting these excessive charges. So again I reiterate my request for you to put a stop on any further charges. Thank you they replied Thank you for your reply. Your account has reached the maximum charges now but your account will not freeze until a plan has been accepted, therefore the collections procedures will still continue to apply as per contract. Kind regards Sharona CFO Collections Team Also in my next post is the cca they sent me but don't know really what I am looking at so any help would be great. Thank you

Hello All, Are CFO Lending and Capital Finance One, the same company? "EXEMPLO DUCEMUS"

Hi has anyone heard of this company before? I have googled them and found nada which is quite odd. This is in respect of a debt they have purchased from someone else and I have just got a solicitors letter about it, but I have had no contact from Cogent at all and need to get in touch with them. Any ideas? Thanks

Ok, this is a long one, so bear with me, but any advice would be much appreciated. I called Nationwide 3 weeks ago to cancel the Continuous Payment Authority (CPA) on my debit card to which they declined, which as far as I'm aware is against the law? I unfortunately have had to start signing on again, this money goes in on a Monday. Last Wednesday (29/05) I emailed CFO Lending, informing them that I removed the CPA with them. I awoke Monday morning, to find that they had taken £160, and taken me over my overdraft limit. I am now in the process of claiming the money back,and already have some of it. But due to Nationwide's incompetence, I have been unable to eat, pay rent, and I have incurred charges on my account. Do I have any grounds for compensation? Any help would be much appreciated, thanks

Hi, I have read through many of the threads and posts on here and I am getting a little confused. I (like many others) have an outstanding loan with CFO and found on Friday that they had taken £200 out of my Lloyds account without my knowledge - the card I previously used with them was lost and they have obtained my new card details though a third party (although I am not sure which one). I rang the bank and they said they cant do anything until the payments clear in my account and show on my statement, which should be tomorrow. Before I ring them again I just want to be sure that they do legally have to refund the payments even though I have not previously cancelled any CPAs and which regulations state this. Thank you

So I am an idiot and took out a loan with CFO lending for £200, I paid that back and then took another £600 and it was due at the end of april and I didn't pay it back nor could I rollover. CFO is telling me I have to fill in a IE form and send a bank statement. I have filled an IE and sent it back but refuse to send a bank statement. There seems to be no resolution as they want a bank statement and won't set up a payment plan without one. But there is no way I will ever provide that. So now my balance was £680 owed, and is now £840. Actually, come to think of it. I could provide them with the bank statement which they sent the money to and not my other bank account which my salary goes into, reckon it would work? Anyone got any advice for me? Thanks.

Hi guys, Just wanted to share/get some advice on my situation with CFO. I took out a loan with them in 2011. I had fallen into the Payday Loan Trap. When I was unable to repay the loan, CFO refused to negotiate a payment plan. Fortunately, I had taken advice and changed my bank account to a different bank when I opened a DMP with Payplan so they were not able to rinse my account. I continued to try and get them to agree to a payment plan. By this time, I owed 750 on a 200 loan. Last October, I discovered that CFO had taken nearly 500 out of my new bank account with Halifax. Detailed for which I had not supplied, nor should they ever have been privy too. I notiofied Halifax straight away who charged back into my account. I did not hear anything from CFO after that. However, last week I received a phone call from a very aggressive employee at CFO through my workplace switchboard demanding 280 GBP. I sent an email to them immediately requesting that they remove my work switchboard number and requesting a breakdown of the account. I received that today. They are saying that the 480 odd that they removed from my account last October (that was subsequently charged back by Halifax) has paid off some of the balance, but they are still chasing the remainder. I have not received any information from Halifax to this end, nor have I got a negative balance in that account (I don't use it anymore). It seems like some of their tactics have been very questionable in pursuing this debt but does anyone have any advice on how I should respond to their request for the remaining 280, or whether I should just pay it in installments. 700 odd on a 200 loan seems very high. Thanks in advance for any advice anyone can supply. Faith

Hello hoping someone could give me some advice, I stupidly took out a loan with CFO a few months ago but I lost my job so was unable to repay it, I contacted CFO numerous times on the phone to set up a payment plan but was always refused and was told I need to make payment in full to prevent legal action. Last month CFO offered me there resolve product to wipe off the current interest I have on my account and I thought this would be great that way I can avoid over £100 in charges, but the problem is when I applied there stupid staff put my account number in wrong so my resolve loan amount was sent elsewhere, after waiting 10 working days (ringing them everyday but no-one seemed to no where the money had gone) they finally received the funds back. I was then told I would need to re-apply for the resolve product so I could have the interest removed from my account, I re-applied and now CFO are stating I no longer meet there lending criteria!!! And I'm liable to pay all outstanding charges on my account by my payment date of 31/5/13 I have wrote a email of complaint to them but doubt if that's going to get me far, is there anything I can do about the interest I was told I can have taken off ?

I am trying to come to an arrangement with CFO. I have cancelled my debit card and have been issued a new debit card. The bank account details that CFO have are for Lloyds TSB and the old card details are for NatWest. I recently wrote to the Natwest to cancel any Continious Payment Authority that might be active ..... Dear NatWest Please cancel and decline any and all transactions that are to bemade, or are in the process of being made to the following company: CAPITALFINANCE , ONE , LONDON GB. This includes any use ofContinuous Payment Authorities that may lie on the account. Under Regulation 55 of The Payment Services Regulations 2009 section55, you are legally obliged to comply. Yours drob I have today received a reply fron Natwest.... Dear drob Unfortunately these payments to CAPITAL FINANCE , ONE , LONDON GB are made by Service Card and I am not able to cancel or return them. In order to prevent further payments debiting your account I would advice you to comtact CAPITAL FINANCE , ONE , LONDON GB Yours Natwest 1. What is a Service Card as my card is a Visa Debit 2. Are NatWest trying to fob me off 3. I am going to reply to NatWest, can anyone help with drafting a reply

Hi, I got a loan last year with CFO and was unexpectedly made redundant a month later. I went with a debt management company as I was getting no where trying to stop the interest and arranging a repayment plan. I have been doing this since last August and everything has gone well. Until last Thursday CFO took £300 out of my other bank account as a card payment. I have never ever given them my card details or account details. I am also not sure if it is for my loan or someone elses. I am wondering what my rights are here as I have never ever given them permission to use my TSB account. The one I used with them was Natwest. Also what should I do?

Ok so back some time ago when I was desperate and probably not of sound mind I took out a loan with CFO, for £250. Interest was set at 39% fixed on the borrowing, so at the end of the month 1 I was due to repay £347.50. At the end of month 1 I decided to 'rollover' the loan by paying the interest element only, thus paying £97.5. This means at the end of month 2 I would still need to pay £347.50 to clear the loan. 10 days later (and partly into month 2 now) CFO offered me an additional £175 which I (again) stupidly took, due to being in a desparate payday loan spiral. This meant I had borrowed a total of £250+£175 = £425. So as interest is set at 39% fixed I should be paying them back £590.75 at the end of the month 2 right? WRONG!!! (according to CFO). What actually happened is they calculated from the £250 I initially borrowed and added on 39% interest to total £347.50 i.e. what I was due to pay back at the end of month 2. To this they then added the £175 further borrowing = £522.50 and applied interest of 39% (£203.78), meaning according to them I now owe £726.28 at the end of month 2. So I've now incurred 39% interest on 39% from the first original loan too! Rather than simply borrow an additional amount with a separate contract, they've kindly 'refinanced' this into a new contract, much to their benefit of course. At the end of month 2 I predictably decide to rollover the loan again, paying the interest only. I pay £203.78. This means at the end of month 3 I need to pay £726.28 to clear the loan. Somewhat predictably again, the temptation for someone who is desperate and getting chased left, right and centre for other debts to borrow further is too much. CFO allow me to top up with another £90 midway through month 3. Can you guess what this means? Yes - they calculate it by adding what I owe at the end of month 3 and add on the further £90 borrowed. They then apply interest to this total. So basically instead of paying 39% interest flat rate on £515 total borrowed, I'm paying 39% interest on £816.28. I now need to repay £1,134.63 at the end of month 3. Quite honestly, I don't know why I fell for this. I made some very lousy decisions but it really highlights why I wasn't of sound mind. Ordinarily I am an intelligent person and I've only picked up on this because I was already disputing the balance CFO say I owe them. I've formally complained to CFO, have told them I will be going to the OFT (and I will) with all of my records once I've had their final reply. Of course I expect a refund for what I've overpaid too and will be going to the Financial Ombudsman Service in 8 weeks time as I expect my complaint won't be resolved to my satisfaction. I'm now in a DMP and aside from this creditor and Safeloans it's been a massive weight off my shoulders. My experience with Safeloans is that you can definitely fight back and stop paying what these companies are not entitled to. Whilst they have pulled a fast one on me, where does this stand legally speaking - particularly if I wished to pursue a claim through the small claims court if this can't be resolved? Has anyone had a similar experience with CFO or any thoughts of what I should do. The OFT is definitely going to be informed at the end of the week.

Hi i am hopeing you can help. I took out a payday loan with CFO lending a while back for £500 pounds. With interest this comes to £680 pounds. I have rolled over the loan 2 times and on each occasion i have paid the 180 interest. I have now offered to clear the balance and another 1 months interest in the following plan April 28th - £180.00 May 28th - £250.00 June 28th - £250.00 I was told this would not be possible but i could continually pay the interest and small amounts off my loan. as of 28th of april i would have paid £540.00 interest Do you see this as an acceptable plan as they are plain refusing to assist and i feel like i have a case to make a complaint kind regards

Hi i am hopeing you can help. I took out a payday loan with CFO lending a while back for £500 pounds. With interest this comes to £680 pounds. I have rolled over the loan 2 times and on each occasion i have paid the 180 interest. I have now offered to clear the balance and another 1 months interest in the following plan April 28th - £180.00 May 28th - £250.00 June 28th - £250.00 I was told this would not be possible but i could continually pay the interest and small amounts off my loan. as of 28th of april i would have paid £540.00 interest Do you see this as an acceptable plan as they are plain refusing to assist and i feel like i have a case to make a complaint kind regards

CAGgers may interested in the latest approach taken by CFO payday loans. The post below shows that they are: Offering to reduce the amount owed to the original amount borrowed. A cynic would suggest that they will then sell the remainder to a third party. Offering a further advance of up to £200, which is, surely, contrary to OFT guidelines, by encouraging an alleged debtor to borrow more. The objective is, of course, to obtain the person's debit card details and empty his/her bank account. BE WARY. Get back on track with CFO Resolve… Apply for CFO Resolve and get a weight off your mind and up to £200 in your account today! Call our friendly Resolve team on 0208XXXXXXX Dear Mug, In an effort to get your loan out of default with CFO Lending we would like to offer you our CFO Resolve product. By taking advantage of this offer we will: 1) Remove all fines and interest currently on your account. We take your current outstanding balance, including all late interest charges £XXXX and reduce it to the original £XXXX that you initially borrowed! 2) Offer you more money. We have an available £50.00 that we can transfer to your account today! 3) Set your due date for you next payday. We will set the repayment date for your next payday where you can clear the new balance in full or defer if you choose too. 4) Get your account out of default with CRA’s We will advise the Credit Reference Agencies that we work with, that you have resolved your account, which may make applying for credit in the future easier! The Resolve team has been specifically set up to help you get out of debt by reducing your balance. By completing a resolve loan you will also be eligible for further finance product (sic) from CFO Lending in the future.

Received an email this morning - looks like they are trying new tactics to get card details of you.

I took out a small Loan with CFO a few months back, I stupidly kept borrowing when I needed money for bills. two weeks ago I received a text asking if I wanted to pay in full or defer, as I couldn't afford to pay in full I opted to defer. they attempted to take payment on the 21st of December a week before payday. they call me and I tell them they made a mistake, they move my payment to the 28th. However they took the full amount owed, leaving me no money to pay my bills. I have been advised by my bank (Natwest) to contact them and ask them to refund my money because of the deferral agreement, They haven't been answering the phone so I thought about emailing them. My problem is that, as I did owe them money that I don't really have a leg to stand on. what should I should do?

Hi all I applied for a loan with cfo last week , gave my bank card details ect , was told via website and phone had been approved but following day recieved an e-mail saying i hadnt been accepted . my concern is , i get payed in 2 weeks , and no money has been taken from my account yet ( basically no money in there ) but will they try and take money out despite the fact i waas turned down for a loan ? thanks for any help Kh41

Hi all, I took out a loan and topped up with them in May last year... Yesterday morning I spotted 2 transactions on my online statement amounting to £664.42, this actually makes me £660 OVER my overdraft limit. I was thinking that Barclays would stop the payment as it's so far over my limit but it doesn't appear to be happening. I've spoken to barclays who said the usual thing of "speak to the company"/"we cant do anything" but the amount appears to have been honoured, even though the card to which the transaction relates was cancelled due to a fraudulent transaction.... Any Ideas how I can deal with this rapidly? Thanks guys

Dear azzadle I am in the same position as you but I havent heard from them since last June when they took £75 [EDIT] from an account I had only had opened for a week. When I took out the loan with them I banked with Barclays this new account was with Lloyds TSB so still dont know how they managed to get the debit card details. When I emailed them on the address that I had done several times before telling them I would be reporting them to the police [EDIT] the email came back as not recognized I havent heard a thing from them since not even from this MT Collect or anyone else that people have mentioned on this site.

So stupidly I took a loan out with these guys well over a year ago and paid hundreds of pounds worth of interested. So one day i decided enough is enough and refused to pay them any more. Months have gone buy with not sound from these guy until the following email I received this morning: Introducing CFO Resolve! Get your account out of default and up to £200 in your account today! Apply online or Call 0203-195-1184 Dear, In an effort to get your loan out of default with CFO Lending we would like to offer you our CFO Resolve product. By taking advantage of this offer we will: 1) Remove all fines and interest currently on your account. We take your current outstanding balance, including all late interest charges £638.72 and reduce it to the original £275.00 that you initially borrowed! 2) Offer you more money. We have an available £55.00 that we can transfer to your account today! 3) Set your due date for you next payday. We will set the repayment date for your next payday where you can clear the new balance in full or defer if you choose too. 4) Get your account out of default with CRA’s We will advise the Credit Reference Agencies that we work with, that you have resolved your account, which may make applying for credit in the future easier! This is effectively a new loan & an opportunity to borrow from us again in the future! Simply CLICK HERE and complete the simple application form, be sure to enter your details correctly so we can get the cash out to you as quick as possible! Kind Regards, CFO TEAM I'm not going to act on this but isn't there something dodgy about it?

Hi all, First time starting a new thread, so hopefully i've done it right?? I'm not sure if anyone has seen this yet but it looks like CFO are after people's bank account details again - the last few days i've been sent a number of texts via a organisation called loansos, the site contains no contact details or reference to credit licence number or data protection laws, type in some (fake) details and you will be dirceted to CFO lending, just like with Money Majesty. Please people all stay away from it, their are only after your bank details to clear your accounts out. If this has been mentioned in another thread - i'm sorry Did anybody see The Sun newspaper toady? (10th Oct) Page 27, with the headline 5,607,040% APR, i see our friends from CFO are named and shamed. Regards Birmingham_Male

Hi all . Over the bank hol I have had over £500 taken from my bank account from CFO when I already have a debt plan set up and agreed with the CCCS and them. The bank have told me I have to speak to the company to get it back but I know they wont simply refund and it is my rent and council tax money they have taken. Can anyone suggest what action I should take as I have tried to email CFO this morning and had no reponse yet and need the money back urgently to avoid being evicted or in rent arreas. I have proof they have accepted my debt plan payments over the last 3 months. thanks Emma

Hi, Could someone possibly help me with a reply to this. CFO have been ignoring me, so I have persitantly sent an email everyday and today I have got the below from them. Could someone give me some guidance on what to reply back to them? _____ Thank you for your email. I am sorry to hear about your change in personal circumstances which have led to you experiencing financial difficulty and have updated your account accordingly. Unfortunately we are unable to accept a payment plan to clear your account however any payments made will come off your outstanding balance. Your payment was due to be made on the 15th August 2012 and we will require the minimum of your interest payment to take your account out of default and to prevent further interest from being added. Please contact a member of collections on 0208 045 1382 to discuss your repayment. Kind Regards Katie CFO Collections Team