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Capital Finance One / MT Collect - read how to deal with them


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Which other company did you apply to - we might find that they're an associated company of CF1, if they're not, then you should be asking why they passed your bank details over !

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This is how Capital Finance One (CFO) got your bank details !

 

Payday First is a trading style of CFO Lending Ltd.

Copyright © 2011 CFO Lending Ltd. Registered in England and Wales.

Registered Number: 06736553. Registered Address: Copper House, 88 Snakes Lane East, Woodford Green, Essex, IG8 7HX

Consumer Credit Licence: 623671 Data Protection Number: Z1577394

Help us to keep on helping

Please consider making a donation, however small, if you have benefited from advice on the forums

 

 

This site is run solely on donations

 

My advice is based on my opinion and experience only. It is not to be taken as legal advice - if you are unsure you should seek professional help.

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This is how Capital Finance One (CFO) got your bank details !

 

Payday First is a trading style of CFO Lending Ltd.

Copyright © 2011 CFO Lending Ltd. Registered in England and Wales.

Registered Number: 06736553. Registered Address: Copper House, 88 Snakes Lane East, Woodford Green, Essex, IG8 7HX

Consumer Credit Licence: 623671 Data Protection Number: Z1577394

 

Thank you, well they havent got my card details anymore because i've cancelled them, and Im staying clear of anymore payday loan companies, these people need stopping!!

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Hi all

just joined to see if we can stop these [people] from cfo for good

if we can get some names together who are willing to all write to trading standards we must be able to get a case WHAT DO YOU ALL THINK

i took a loan from these and after having a accident at work found myself of work for 14 weeks in this time i had to defer payments as i was only getting S S P from work so a £250 loan had interest of £120 per month but they tried to take it out at differant times every month and because i had not been paid charged me £25 extra it is now £441 even after paying almost £600 back to them

BY THE WAY THEY HAVE CHANGED ALL THER DETAILS TO C F O LEANDING

88 SNAKES LANE EAST

WOODFORD GREEN

ESSEX

IG8 7HX

0208 166 1472

WHAT A GOOD ADDRESS (SNAKES LANE)

SO IS ANYONE WITH ME?

Edited by ims21
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I am with you I will do whatever if it helps stop them once and for all!!. Couldnt believe they had the cheek to text me the other day offering me an express loan, thats when I noticed they'd changed their website

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Changing their website might just fool people into thinking they are a different company. Anyone who owes CFO money and applies for a loan on the new website with new card details might find their account cleared out. Is there a big difference from the old website?

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The website is still the same just the name, Payday1st is also owned by them, they got my new card details through that website and began taking payments off me every time money went into my account, so i have now changed my details again

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Yep. They changed their name back in march.

 

However it doesnt seem like they are able to use the name MT collect in relation to a trading name with CFO. Unless theyre pulling a toothfairy/speedcredit situation.

Any advice i give is my own and is based solely on personal experience. If in any doubt about a situation , please contact a certified legal representative or debt counsellor..

 

 

If my advice helps you, click the star icon at the bottom of my post and feel free to say thanks

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The website is still the same just the name, Payday1st is also owned by them, they got my new card details through that website and began taking payments off me every time money went into my account, so i have now changed my details again

 

I hope you got a chargeback from your bank and also filed a full complaint with the lender and the OFT.

Any advice i give is my own and is based solely on personal experience. If in any doubt about a situation , please contact a certified legal representative or debt counsellor..

 

 

If my advice helps you, click the star icon at the bottom of my post and feel free to say thanks

:D

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I'm sure these payday loan companies set up "sister" companies with an ulterior motive. They know that people who owe them money are likely to apply for a loan elsewhere and if it happens to be their other company, they are guarantees to get their money as they will have your new card details .

 

(you might have guessed I hate these companies with a passion! they have caused so much misery to so many people)

Help us to keep on helping

Please consider making a donation, however small, if you have benefited from advice on the forums

 

 

This site is run solely on donations

 

My advice is based on my opinion and experience only. It is not to be taken as legal advice - if you are unsure you should seek professional help.

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I had problems with this company. I had made a payment arrangement and then surprise, surprise they took all my wages. I think my whole saga is on this site somewhere. Anyway, the BCCA weren't able to help so I went to The Obusiman. It took 2 and a half months but I finally got my money back. I paid off the amount owing, however I was given compensation, money that was taken wrongly and interestlink3.gif. I say go to the obuidsman, may take a while but they get there for you.

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I'm sure these payday loan companies set up "sister" companies with an ulterior motive. They know that people who owe them money are likely to apply for a loan elsewhere and if it happens to be their other company, they are guarantees to get their money as they will have your new card details .

 

(you might have guessed I hate these companies with a passion! they have caused so much misery to so many people)

 

Thats why they have so many trading names. It's just sad that the OFT lets them use more than one name per license. It's promoting situations just like you described.

Any advice i give is my own and is based solely on personal experience. If in any doubt about a situation , please contact a certified legal representative or debt counsellor..

 

 

If my advice helps you, click the star icon at the bottom of my post and feel free to say thanks

:D

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  • 6 months later...
Hi all,

 

My first time posting,

but i setup the account due to the information from this thread helping me

and though i would pass some details on

 

Here goes:

 

I had the same experience as many other with Capital Finance One,

I had an outstanding balance with them which was passed to MTCollect

(I wasnt informed of this until I contacted CFO to make a payment, they accepted the payment anyway).

 

A few days later I received the same threatening text message (the text is from McCall) that they would be visiting my property,

I rang them up panicking obviously and wasnt greeted by an arrogant * who wasnt interested in helping or arranging anything.

 

He proceed to tell me they had obtained a warrant of execution for seizure of property

and I could hold off action by making a payment...

...Few hours later I managed to organise half the money and get it paid.

 

All the while I had a nagging feeling about the situation and did some research into the Warrant procedure

and discovered that if one is issued the court will first write to you with an option to pay which didnt happen.

 

I contacted McCall a number of times asking for a copy of the warrant

which failed to materialise and was constantly told its in the post, it was sent yesterday etc.

Eventually i worked my way down the chain instead...

 

I spoke to CFO to obtain the Court Case Reference.... No Joy, No Case

I called MT Collect legal department... No Case

I called McCall..... Yes we have a warrant.

 

This went on for a couple of weeks, yesterday I contacted McCall again and told them I would no longer make any payments until I received the letter and told them if they failed to provide it I would contact Financial Ombudsman, Trading Standards and the Police for deception, harassment and intimidation (I contacted the Ombudsman and Trading Standards anyway).

 

Today I made the same series of calls again working my way down and recording everything as I went,

strangely as soon as I spoke to CFO they told me the account is settled,

a call to MTCollect also said settled and finally McCall also said its now settled.

 

Please take note though, dont use this case as a basis to refuse payment etc yourself

but I would be very carefull before you hand any details over to them.

 

A few tips, hints and usefull details:

 

1.Record all conversations

 

2.If you receive the text message detailed about PRE-REMOVAL

contact them straight away and if they say they have a warrant ask for a copy it,

the Court Case Reference

and the name of the court the case was heard at.

(Ensure you record all the conversation and inform them that until you receive those documents

you will not make any payments and any attempts to enter your property will be deemed as a breakin).

 

3.Dont let them bully you but do make sure to offer a payment proposition each time.

 

Usefull details:

Capital Finance One - 02081 661470

MTCollect - 01312 141101 (They have an email address but due to being first post I cant include it)

McCal Repo (AL Wright, Marsden, Carter Legal or what ever name the answer the phone with) - 01704 610001

 

I'll keep an eye on the thread and respond where possible,

please dont hesitate to contact me as since I have dealt with these people I do understand the pressure and worry they can cause.

 

(I cant stress enough that with MTCollect and McCall you need to record the calls

because the answers they give you change daily

and the professionalism of some of the staff they have is appauling).

 

Hi. Can you confirm the website of capital financeone? is cfo lending and capital finance one same? the

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why?

 

dx

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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what is fraud?

 

dx

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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Hi. Can you confirm the website of capital financeone? is cfo lending and capital finance one same? the

 

Capital Finance One changed their name to CFO lending - probably hoping to shake off the bad publicity

Help us to keep on helping

Please consider making a donation, however small, if you have benefited from advice on the forums

 

 

This site is run solely on donations

 

My advice is based on my opinion and experience only. It is not to be taken as legal advice - if you are unsure you should seek professional help.

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