CFO Emptied Account this morning (3rd time, 2nd Bank Account)

[Snipatm]

Hello, as a few have seen ive had my bank accounts have transactions from CFO for around £250.

Well this morning i get paid and at around 6AM they had taken another £360!!

 

The loan and interest was only £250, i defaulted so added charges.

 

Now i received a letter and email stating on the 14th of december this will no longer belong to CFO but instead a Debt Collection company so how come on the 23rd and this morning they have taken a huge sum of money out of both of my accounts?

 

One which they have NEVER been given the bank details for in the first place?

Ive rang up my bank for a chargeback and they can only help with the cleared ones, so i have to phone back again for the ones from this morning.

 

But what can i do about this to stop them doing it again?

Ive looked in the T&C's and it says nothing about continous payment or using a payment method that i never gave them permission with.

 

Should i report this to someone else other than the bank?

Im extremely stressed out from the whole situation and not sure what im supposed to do about stopping it happen again

[LaughingGirl]

Have you got another thread on this, Snipatm?

 

Honestly, they'll just keep doing this month after month. I've been there, done that, bought the T-shirt and CF1 are one of the worst offenders in my book. You seriously need to open a new bank account and transfer all your income into it as soon as possible, or you will almost certainly be in the same position next month.

 

Have you applied for any other pay day loans? These companies do pass around details in my experience - this could be how they got the details of your other account.

 

So far, you've paid back £610 on a £250 loan - how much are they saying you owe in total?

[Snipatm]

On my Parachute account it was Wonga as i have a repayment plan with them but looks like i wont be able to pay it now as a payment is required next week

So unless Wonga gave details...

 

Well this will be my 3rd bank account opened up if i get another one and i dont know, last time i had a email and letter the amount was £303 with the charges, so how on earth they have worked out they can take that much i do not know!

 

Have you got another thread on this, Snipatm?

 

Honestly, they'll just keep doing this month after month. I've been there, done that, bought the T-shirt and CF1 are one of the worst offenders in my book. You seriously need to open a new bank account and transfer all your income into it as soon as possible, or you will almost certainly be in the same position next month.

 

Have you applied for any other pay day loans? These companies do pass around details in my experience - this could be how they got the details of your other account.

 

So far, you've paid back £610 on a £250 loan - how much are they saying you owe in total?

[asmilecostsnothing]

Because as I suspect CFO are now collecting inhouseThey have other payday and broker sites perhaps this is how your new details ended up to them Against what I believe in, I would go to the Police if your sure you don't know how they got your details - at least you can get a crime ref number to go to the bank with to demand a CHARGEBACK - keep strong and do not back down

[LaughingGirl]

OK. Well, you're going to have to open a new account, I'm afraid. Please, please, please DON'T set up any card payments, direct debits or anything else from this one because they will use them.

 

When did you get the letter saying that you owed £303?

[Snipatm]

OK. Well, you're going to have to open a new account, I'm afraid. Please, please, please DON'T set up any card payments, direct debits or anything else from this one because they will use them.

 

When did you get the letter saying that you owed £303?

 

That was a few weeks ago, as the letter stated if i havnt paid in full by the 14th of december the account will be transfered over to debt collectors and CFO will no longer contact me.

Ive heard nothing from debt collectors and nothing from CFO since then, i obviously didnt pay in full as i couldnt and instead they just took the money out the past few days.

 

Ive phoned the bank on Chargeback and im getting the first amount put back into my account and now have to wait till the ones from this morning are updated on my statement.

[LaughingGirl]

What name do the payments show up as on your statement?

 

If they have passed it to a DCA, they may have whacked on extra charges. First step is getting your money back, then look at sorting out a payment plan.

[asmilecostsnothing]

Good thats a result !Now complain in writing - heading it OFFICIAL COMPLAINT - so you can take furtherThink I'd had 6 different dates for the Debt Collector when I had my trouble with CFOPlease check around this site for any bank details for the companies you owe - try save yourself rather then giving out your details x

[Snipatm]

It comes up as Capital Finance One Essex GB.

 

Thanks, im going to only transfer the money myself from now on instead of giving these sharks access to my account when they like.

[asmilecostsnothing]

If they have passed it to a DCA, they may have whacked on extra charges. First step is getting your money back, then look at sorting out a payment plan.

 

They sure will have - I was nearly at the bankrupt figure by the time they finished !

[LaughingGirl]

Well, it doesn't look like they've handed it to a DCA yet then.

 

Good for you. Email them with what you intend to pay, then transfer the money yourself and email them when you do it. Make sure you keep everything for your records.

 

@ Asmilecostsnothing: I know the feeling. I wish I knew then what I know now.

[Snipatm]

The problem is its going to take a few days to get my money back and i have other PDL companies hounding at me for there payments aswell :\

I had everything sorted and was looking to pay a few companies towards the repayment plans and now im basically broke and have bills to pay..

 

First thing is to get the money back otherwise changing accounts and finding bank details means nothing as i have nothing to go into the bank account or pay the other companies.

[LaughingGirl]

Yep, you're right. You can't give them what you don't have.

 

When you do get the money back, don't leave yourself with nothing, only pay back what you can afford!

[Guest Not Happy Xmas]

Hi All,

Capital Finance One took £960 out of my account on the 23rd December for a loan of £175 which i had already paid half. They said it was my fault as i had paid early and the rest of the money was additional charges.

The card has now been cancelled, and their name has been blacklisted by my bank. This morning i have been to the bank to fill in a dispute form to get my money back which i am pleased to say that i should get it back within 3 days

My advice to anyone thinking of using this company STAY WELL CLEAR!!!!

[Snipatm]

Hi All,

Capital Finance One took £960 out of my account on the 23rd December for a loan of £175 which i had already paid half. They said it was my fault as i had paid early and the rest of the money was additional charges.

The card has now been cancelled, and their name has been blacklisted by my bank. This morning i have been to the bank to fill in a dispute form to get my money back which i am pleased to say that i should get it back within 3 days

My advice to anyone thinking of using this company STAY WELL CLEAR!!!!

 

Wow thats horrible, £960... But well done on getting it back.

Quick question how do you get the bank to blacklist the company? As i obviously dont want them trying to get payments every day of the week.

[Snipatm]

Yep, you're right. You can't give them what you don't have.

 

When you do get the money back, don't leave yourself with nothing, only pay back what you can afford!

 

Ive also just emailed the OFT about this as its just a joke how a company can get away with this, yes i owe them money but i never gave them permission to take it form me when they like from what ever means they like especially when ive contacted them on multiple occasions about a repayment planand they just blank me :\

[asmilecostsnothing]

@ Not Happy Xmas Thanks for sharing - another great result on the way : )They are lousy mathmaticians is all I can say ! lol or something is seriously wrong with their systemsAs fast as I was paying up they were adding chargesNot Happy Xmas - your next christmas will be better x

[26072004]

If CFO transferred it to a debt collector it is against OFT regs for CFO to attempt to collect from this account, and also for them to pass your card details to any debt collector.

 

You must contact the OFT and let them know what CFO have done and this also gives you good reason to make a complaint to the FOS, the FOS can make them refund the money and will also charge CFO for the privillage.

[LaughingGirl]

Ive also just emailed the OFT about this as its just a joke how a company can get away with this, yes i owe them money but i never gave them permission to take it form me when they like from what ever means they like especially when ive contacted them on multiple occasions about a repayment planand they just blank me :\

 

Good for you. Let us know how you get on.

[Snipatm]

Good for you. Let us know how you get on.

 

Yes i will do, the only company ive met who take money at will are CFO and 24/7 Moneybox but 24/7 have it in there T&C's that if the payment defaults they will try to take small payments regularly to get the loan money while CFO say nothing and just wipe you out when they like :@

[Guest Not Happy Xmas]

Wow thats horrible, £960... But well done on getting it back.

Quick question how do you get the bank to blacklist the company? As i obviously dont want them trying to get payments every day of the week.

 

The bank can list any company that they feel does things in the wrong way, ie CFO taking money above what you owe. This way if they try to take money from your account it gets flagged up and the bank can check if it is a legitimate request for payment.

My bank is the Nationwide by the way

[asmilecostsnothing]

@Laughing girl - just want to say yeah totally get where your coming from my friend x

 

I do think some of these companies around must have been the original 'slug and thug' - just entered the payday world under disguse... they treat everyone the same so I know now it shouldn't have been taken so personally I'd say for every decent lender (cos there are some and they know who they are ) there is 2 bad...

 

Anyway we're bigger people then they will ever be for what we've done (and don't they know it) x

God rest your soul