Capital Finance One (CFO)

[insigniades]

Just a quick question for you guys, I borrowed £100 from CFO which credit my account on the 20th April, since then my payment failed - they helped themselves to £153 from my account over 5 seperate transactions in May, leading me to believe I had now paid off the loan, I received a nasty phone call saying I still owed them the £139 which I told them was rubbish, I then received a further 3 transactions of £25 each taking the total taken to £228 - £89 more than I originally owed them - I've had a text today to say I still owe them another £178 making the total they would have taken from me (if I hadn't cancelled my card) to £406 for a £100!!!! loan. Is it just me or is this wrong for a loan that was provided under 2 months ago?

[jfk_8]

Hi , check your agreement , they charge you £25 for the first 5 letters they send to you and also 39% of the original loan if its not paid after a certain period ( stated in agreement ), calculate it and lets see if it stacks up !

[insigniades]

Already checked that, not had no letters and I've been told it's £25 on the 1st, 6th and 10th days of being late

[ihateyes]

Already checked that, not had no letters and I've been told it's £25 on the 1st, 6th and 10th days of being late

 

thieving sharks..... they need jailed for theft.

[insigniades]

Yeah, it's a shambolic amount of money! Anybody else got any idea about them charging this amount?

[devilmaycry]

I would get a complaint into consmer direct and trading standards about this, i'm having my own battle with them at the moment with fee's and trying to reach a payment plan and so far consumer direct and trading standards have been very interested in the fees and fines this lot add onto accounts

[insigniades]

Excellent, thanks for the advice - I will pass my findings on too.

 

They're denying that the terms & conditions on their website are true.

[devilmaycry]

I dont understand how they can have terms and conditions on their website and then state that they arent true. Well if that is the case why the hell are they charging me and others £25 "fines" each day and then adding 39% onto the debt along with the daily interest being added on which is already far too high? i'm at the point now where i almost wish they would take me to court so that i could have my day against them and their shocking tatics and fines. They are a joke and i would advise everyone to avoid them like the plauge

[insigniades]

They won't respond to my email now either, their website terms & conditions also state 36%, typo or not. It also says £25 for every letter, I've not received any letters - when I challenged them on that their response was "If you have not received our letters you have received our emails all at a cost" - hang on, £25 per email? I don't think so. Also, I don't know about you guys but they didn't provide me with a copy of my agreement... Despite the fact they've already taken £228 - they still say "We will help you out but you need to pay us the £139 you owe us" - considering a county court only allow us to add 8% interest - I'm pretty sure they'd have something to say £228 interest charges accrued over 2 month... This really is daylight robbery, I've changed my bank account details and now I'm receiving texts stating I owe them £178... What a complete joke!

If You default, our tariff charges are as follows: We will charge You the sum of £25 for missing the agreed payment. We will charge You the sum of £25 per letter for the first, second, third, fourth and fifth letter that we send to you in respect of the collection of any outstanding sums on your account. If You are in arrears for 14 days after the agreed due date, 36% of the original Amount of credit will be applied to the account. You must pay us any reasonable expenses and costs that We may incur in tracing You if You move address without first notifying Us. In addition, You must pay us any reasonable expenses and costs we may incur in taking other steps to enforce, or attempt to enforce, our rights against You under this Agreement, and You will be charged simple interest, both before and after judgment, at the rate set out above from the date payment falls due until payment is made.

I would love to hear from someone who has challenged this company to the very end! I will be happy to deal with their doorstop collectors too, if they get involved them or a county court.

[devilmaycry]

Funny i havent recieved any letters from them either just emails in which they refer to their £25 as "fines" i would love for them to explain to a judge how it costs £25 to send an email if that is their justification, i also believe using the word fines is illegal.I had my first contact of a threating email from Daniels Silverman today, they will be getting a nice worded email back telling them i will not be paying the £712 that they are asking for from a £250 loan and i will be pointing out that since i have disputed the debt with CFO any action to carry on will be in direct Violation of OFT guidelines.I started out my battle against CFO scared and rather meek, lets just say that i am not like that anymore, I have nothing to give them I have no savings no money and if it comes to it my car and my half of the house will all be transferred into my partners name so they cant touch any of that either.Yes i took out the loan and i havent ever refused to pay it back but like hell will i pay back almost triple the loan in charges

[insigniades]

Yeah, the best way is to stick to your guns - since I argued it they haven't responded to me - funny that - I now await a response from their DCA threatening me.

[jfk_8]

any update on this thread ?

[insigniades]

Hi, I did a bit of research into their "fines" based on the information on the Ts & Cs on their website, the information I found completely contradicted that of the customer service rep that I was emailing. I have had a further email today to tell me I owe them £290. They have already had £228 out of my account for a £100 loan and they still want another £290 - hmm £418 of interest - seems a little high to me, don't you agree?

[jfk_8]

Yes its way too high , I am having fun with this outfit at the moment and also their DCA daniels silverman , I am building up quite a nice picture of their incompetence , the amount I owe them seems to change all the time , silvermans reckon I owe them £736 , CFO said they dont do payment arrangements , funny that because I recieved an email from CFO today saying they have a new payment site and you can make an arrangement .. anyway am waiting for silvermans next response so will update as soon as info is forthcoming .. remember do not talk to them on the phone ! just offer them the initial amount plus one months interest paid in monthly installments that you can afford

[insigniades]

Yeah, I tried that but they told me that they can't change the amount n the fines are final!

[benfm]

I had my account passed over to daniels silverman and i offered the loan plus one months intrest which they refused .. yesterday i get an email from cfo stating i owe them a lower amount and would i like to use there new online payment plan system ... who do i owe the money to ??

[sillygirl1]

Always try to pay the original company and not their monkeys, the monkeys may not even pass on the full amount to the company and will add on a % just for 'collecting' it, as well as collection fees.

 

Report both parties to Trading Standards and the OFT for misleading practices and not making it clear who actually owns the debt.

[jfk_8]

hi benfm , I got the same message via email too saying that they have a newsite where you can make a payment or set up a plan . I emailed the guy back and asked him to clarify that they accept payment plans, no response yet surprise surprise , any payments i make to them will be from my account by transfer into their account and not by giving them my card / bank account details else they will probably take what they want . I already have thier account details to make payments just need them to agree my proposal which is the original loan plus one months interest and nothing more ... as for silvermans I wont be paying them anything

[insigniades]

Hi, I'm actually about to submit a complaint to the financial ombudsman and the OFT, I urge you all to do the same if you haven't already done so - the more they get complaining about the company and their shoddy practices the more we're likely to get something done about it!

[IN-Trouble]

Capital finance one, the biggest thieves of all.

I owe them 360 pounds, which is now 822 (according to them and Daniels Silverman haha ) .

I have set up a standing order payment to them, 36 pounds a month for 10 months. This is what I owe, and its what theyll get.

 

In reality though, I do not need to pay anything if i didnt want to, Daniel Silverman , the fraudsters they use to get their money,in years of business, have never taken anyone to court, they have basically screwed capital finance one over by getting a fee from them in order to recover their debt, which they have no urgency in doing.

Daniel Silverman will send all sorts of FINAL DEMAND, WE ARE COMING OVER. bull**** rhetoric , theyll never act on it. So, the lesson is, pay what you owe and no more, if you want to pay at all.

[insigniades]

Hi IN-Trouble They are yet to pass my debt on to this Daniels Silverman but I look forward to their phone call / letters, this company have had enough money out of me and they won't receive a penny, they will have to kill me and pry it from my cold, dead hands. I submitted my complaint to the OFT last night, I've filled in my complaint form for the ombudsman and that will be sent today.

[jfk_8]

As you said I will also be paying them in installments that fit in with my other creditors and wont be paying anything to silvermans

[insigniades]

Fill this in with your problems https://ssl.datamotion.com/form.aspx?co=893&frm=complainform&ri=NW&to=advice for consumer advice, lets make it known what a set of loan sharks this company is.

[jfk_8]

hi have you had a letter threatening court action if the account is not settled within 7 days ?

[insigniades]

No, not had any letters from these cowboys, still awaiting a response from consumer advice and ombudsman regarding their practices.