I took a payday loan from Capital Finance One Ltd in July 2011. The loan was £200 and the total repayment was agreed at £278. I did not wish to pay £15 for same day 'faster payment' so the loan finally credited my account 2 days after being issued. The loan was issued on 4th July 2011 and I initially agreed to repay on 29th July 2011 when my salary was paid. On 21st July 2011, I emailed CFO to ask to change the repayment date from 29th July to 4th August 2011. I explained that I had paid interest for a full month and repayment on 4th August 2011 would, therefore, still be within the agreed 'one month' time limit. CFO did not respond until 29th July 2011 when they emailed a 3 lined message to tell me that I had 'defaulted' on the agreement. I immediately replied with a full explanation that I had not defaulted. CFO emailed the same message on 3rd August 2011 and on 4th August 2011, when I fully expected CFO to debit £278 and close the agreement, CFO took £128 which they said was 'charges for 3 defaults'. Emails were traded back and forth. I disputed these charges and even pointed out that the notices they sent me to notify of my alleged 'defaults' were completely invalid and did not comply with the Consumer Credit Act stipulations. I ordered CFO not to take any further monies until we had resolved the dispute. I also gave written cancellation for any authorisation CFO may have had to 'CPA' my account. ie not to debit what they wanted - when they wanted - without the need to inform me or seek my approval. CFO then debited 3 x £25's from my bank without my approval or authorisation. I wrote to CFO to say that they had now taken £203 and had taken £75 unlawfully. I told them that the agreement was in my opinion 'settled and closed'. CFO wrote to me once more to state that I still owed them £200 (how they calculated this figure, I don't know...) and that they would report to credit agencies that I was 'in default'. In April 2014, I made a payday loan application for £200 from CFO Lending Limited. I didn't know that Capital Finance One Ltd had changed their name in 2012, but I'd be lying if I said that I didn't have a pretty good idea that they were one and the same company! However, I was skint and had repaid £203 for the £200 loan in 2011. My application was rejected immediately. I had 'ticked' the box which denied CFO Lending to keep for themselves or pass on my personal details. I had submitted details of my new Nationwide Building Society (set up in 2013) account as part of the loan application. I had to give my debit card details so that, if successful, the loan could be collected from a named account. When rejected, these details should have instantly been erased by CFO Lending. However, CFO Lending waited until 11th June 2014 and made 5 separate debits from my bank for a total of £495.65. It took me a day to put the pieces together with the help of my bank 'visa dispute' team. I could not believe that CFO Lending had used information (which had only been submitted as part of a failed loan application and should have been deleted) to take £495.65 from my bank account without any authorisation, approval or even notification. I spoke at length to Ms Susie McKenzie in CFO Collections who said she would get back to me quickly. I had to wait nearly a week before I received a formal response. CFO stated that all of the debited money was to repay the outstanding loan from July 2011. CFO Lending had already taken £203 from my account in 2011. The last email they sent in 2011 told me that I 'still owed £200' (which I disputed completely). CFO had taken a further £495.65 on 11th June 2014. Therefore, CFO claimed that my £200 payday loan cost £698.65 to repay! CFO Lending claimed that the bank details which I had submitted as part of a rejected loan application to them in April 2014 could be used by them to recover any monies relating to the agreement we had in July 2011. They claimed that the Continuous Payment Authority set out in the 2011 contract justified this. I spent hours in collecting every email and document relating to my dealings with CFO from 2011 onwards. My response included a copy of the vital email which I sent to CFO on 24th August 2011 in which I ordered them to 'stop taking any further money from my account until the dispute is resolved satisfactorily. Any authority which Capital Finance One may have had is cancelled with immediate effect. You (CFO) have taken much more money than we agreed. Do not debit any more money from my bank'. I also set out why their defaults were invalid and why these huge charges could not be applied as they were never discussed or explained at the outset. I have a very strong and complete argument as to why CFO's actions are unlawful and why they must return all monies taken AFTER I cancelled the CPA and ordered that they make no more transactions on my account. CFO has failed to respond to this letter or any of the 6 I have sent them since. I sent a 'Final Demand' and they have not met the requirements within. Nationwide Building Society is investigating these transactions as 'fraudulent'. I have been able to make a formal complaint to 'Action Fraud'. Nationwide has advised me that THEY will report to the Police as this is their responsibility. I must now make a claim for the money using the CCMCC (county court money claims centre). I am determined to make the most of this opportunity to show the public just how payday lenders work. My case is very strong and legally sound. However, I am afraid that I will slip up in its execution by making an administrative or process error. Thus enabling CFO Lending's solicitors to have the claim 'dismissed' on a technical point. I have been 100% honest and open in my account of this matter. I have had to use a payday loan company because my credit history is not great. I did know that they have a reputation for difficulties. I repaid £203 for the £200 loan in 2011. I know that I should have patiently resolved the dispute then and paid off the remaining £75. CFO Lending still doesn't have the right to treat any customer like this. This 'CPA' justification is wrong and is completely unfair and dangerous. I want to make payday lenders change their working practices with this claim. I am not pretending to be Florence Nightingale. I have credit problems but I should not have to repay £700 for a loan of £200 - this is wrong. So, if anyone out there could please offer practical or legal advice which will help me make my claim more effective, then please get in touch. If you need any further information, let me know.

Hello there I currently have a repayment plan with wonga which I have been making regular weekly payments and I'm actually nearly finished paying. My problem is I think I'm overcharged by them I borrowed £485 and the grand total I have to pay back is £1027.50!!!! Is this legal? I do have about £40 in late fees added to this. I have spoke to them on the phone but I couldn't make head nor tail of what they told me. When I asked why I had to pay so much they said the original amount before late fees were added I owed was roughly £587.50 but they say they added 1% interest per day for 60 days to get to the figure of £1027. Can they do this? I don't really know if they can? It seems like an awful lot to pay for a £485 loan. To date I have paid amount £950 back to them, but I've decided to query this matter. Any help would be great on this matter Thanks in advance.

Where do all these pay day mobs get their backing from ? Does it not seem strange at a time when banks were lending to no one these people have come out of the woodwork over the last 5/6 years ,would love to know excactly where these available funds have come from ? So many of them trading under a diffo name but being the same companies .

HI all, I've fell for the trap too! - Hope this information helps you all out... Please feel free to adapt my template below and it would be great to hear of peoples outcomes from this if used! Remember, never give these companies your new bank account details, new bank card details, do not complete any 'Income & Expenditure' forms for them or supply with bank statements. Do not accept any additional charges for arranging a payment plan, cancel your bank card, direct debits and where possible, get a new bank account. Make one off payments to them by Postal Order, cheque or a bank transfer that YOU set up yourself in your on-line banking, do not set up any type of automated payment method, YOU keep in control of your payments to them. Once set up, keep paying and get the debt out of the way and NEVER use these people again. These people are crooks and prey on the financially voulnerable - Good luck guys, and keep strong :o) Dear Sir / Madam, I have found out that my bank have withdrawn my overdraft and applied all of my charges / interest to my account, which is now leaving me in an terrible financial situation. I will not have any funds in my bank account for you to collect your payment to cover my loan, or pay any of my household bills as my wages which will be paid in on 30/06/11 will just cover the bank charges on my account. Please can you therefore with immediate effect, not attempt to take any payment from my bank account, either by Direct Debit or using my Visa Debit card details supplied as this will mean I will incur further charges from my bank and have even less money to enable repayment of my debts. I would now at this point like to arrange a payment plan with you and freeze any further interest and charges going forward so I am able to pay off my debt with you as quickly as possible, contacting me either by letter, e-mail or on my personal mobile number only. Contacting me at work would cause me further distress and I would also class this as harassment as I do not wish to be contacted at any point regarding this debt whilst at work. It is with great regret that I am having to ask for a repayment plan, but due to these unforeseen circumstances which have now effected my ability to repay the loan to you in one lump sum, I have no other alternatives available. I will have to contact all of the other companies who I pay by Direct Debit to arrange payment options with them also as this has left me totally penniless and I have no idea when I will be able to get back on track. For my protection, and from a legal point of view, I would like to inform you of the following: You have 3 methods of contacting me (letter, e-mail, personal mobile - which has voicemail enabled for messages to be left) which should be more than adequate for your company to communicate with me regarding the repayment of the loan. I have heard / read stories about people being constantly contacted when in my situation and I must inform you that I will be taking note of all methods of communication (times, dates etc) so to keep a record should I feel that I am being harassed or continually contacted, receive calls that are cancelled within a few seconds or receive automated voicemail messages asking me to contact you back. Please can you confirm that your company agrees to my preferred methods of contact and will not contact me whilst at work, either on my personal mobile telephone or work number. I must inform you in the strongest manner that I do not wish to be contacted at my place of work at any point regarding this loan / debt as this could jeopardise my employment and therefore I would not have the monies to repay the loan to you. My work telephone number was only provided for you to confirm that I was employed and that my place of work had a working land line, and this is what you informed me when setting up the loan. My work environment is not a place for me to discuss personal finance matters, or arrange further more convenient times for us to discuss matters further if you cannot do this by letter or e-mail. I can only be contacted by telephone on my personal mobile number between 4pm and 9pm Monday to Friday. Any calls before 4pm will not be taken as I am at work, but voicemail messages can be left for me and I will contact you back at the earliest possible convenience, if this is not convenient for you, then a letter or an e-mail communication will have to be used. I expect not be contacted on any other number than my personal mobile number, and should I find this is happening then I will seek immediate legal advice as I have now given you prior notification regarding this. I have no doubt that your company fully understands my situation and will adhere to Section 40 of the Administration of Justice Act 1970, and the Protection from Harassment Act 1997 whilst I am arranging repayment of the loan with yourselves, and throughout the duration of any repayment period. I am fully aware of the OFT Debt Collection Guidance and I will consider making a complaint about a company's behaviour under the guidance if it becomes apparent that you do not follow the legal guidelines and would have no other alternative than to seek legal advice. In particular section (2.2 g) 'Ignoring or disregarding debtors' legitimate wishes in respect of when and where to contact them, for example, shift workers who ask not to be telephoned during certain times of the day'. I do hope however, that we can arrange a payment plan to alleviate the stress of my whole situation, and to also enable the repayment of the loan to your company as promptly as my finances will allow. I look forward to hearing from you and will help in any way I can to organise repayments with your company as soon as possible. Regards,