CFO are draining my bank account - help

[muffin83]

Hi, I'm a new member so forgive me if i waffle slightly.

I've recently been having huge issues with CFO draining my bank account.

 

I had a loan with CFO and over the course of a few months had got into some difficulty and set up a payment plan.

Back in August last year (2011) i emailed CFO Customer Services advising that i had been made redundant with immediate effect and that i could offer a payment of £50 pcm until i was back in full time employment.

I had no response at all and depite further emails copying in my original, still no response.

 

Over the last few months they have taken varying amounts at various times, although non over £50 so i havent really thought much of it as it was going some way to paying off what i owed and was fairly manageable.

 

Friday 27th April, a payment of £50 was taken from my account - which i was ok with as that was what i was originally offering as my payment.

This Friday, 4th May a payment of £166.92 was taken from my account. As i am only temping at the moment, it wass everything i had down to the last penny. I only realised that morning when i went to a cash machine to withdraw funds to get me to a job that day. I get paid weekly as a temp.

On calling my bank i was told that the transaction was pending and they couldnt tell me who it was. I explained that it was unauthorised and i hadnt spent any money.

The lady went off to speak to the fraud dept who confirmed that it was CFO who had taken the funds.

 

I called CFO and was told that they "could take funds as and when they wanted" as i had "made a new loan request online". Which i havent at all.

The lady i talked to at CFO told me that she couldnt pass me over to a manager as they didnt take calls, but she could fill in a complaint form. We went through the process of the form filling and then all of a sudden she disappeared and a guy called James (customer service manager) came on the line and stated that "things i had said in the call had been flagged to him and that they would not be refunding anything to me because the company policy states that they are able to take funds as and when they like".

 

I expalined that they had taken funds without consent and that they had not replied to any of my emails and the only way they ever seem to contact me is by text or phone. I have asked repeatedly to be contacted by email (so that i have a paper trail of conversations)

James stated that they have never recieved any correspondance from me.

 

Anyway, my bank card has now been cancelled and i'm left with nothing.

This company are vile.

[renegadeimp]

Start chargeback proceedings. The second they took money out without authorisation ( their toc's are illegal) you should have told the bank that somebody is stealing your money. Go to your local police, tell them and get a crime number, then take that to your bank. The crime number will force them to start chargeback proceedings.

 

Once you have done that, you need to contact the FOS and OFT and complain complain complain. Also consider legal action through the small claim courts.

[muffin83]

The bank were made aware that the transaction was fraudulent - i called them as soon as i realised they money had gone out of my account. I've been sent a "visa debit card disputed transactions form" - assuming this is the start of chargeback??

 

I have a solicitor looking into it at the moment and he has advised that he thinks its fraud.

 

I'll definately contact the FOS however. Thank you.

[renegadeimp]

Yes. You need to fill that form in and then the banks visa team will put a hold on all funds until the dispute is resolved. And as for your solicitor, he is 100% correct. For the FOS to do anything you will need to have filed a formal complaint with the PDL, but sinc eyou already have a legal rep looking into it, it would be 100x better to get him to submit a formal complaint for you.

[dx100uk]

new thread created for youhere

 

We have been telling people to put a letter into their bank instructing them not to make any payments under any circumstances to these companie

http://whatconsumer.co.uk/visa-debit-chargeback/s - it works!

 

banks MUST follow written intructions from their customers !

This fsa guide has now been updated:

 

http://www.fsa.gov.uk/pubs/consumer_...ghts_guide.pdf

 

Here's the text:

 

Cancelling a regular

card payment:

 

When you give your credit or debit card

details to a company and authorise

them to take regular payments from

your account, such as for a gym

membership or magazine subscription,

it is known as a ‘recurring transaction’

or ‘continuous payment authority’.

These are often confused with direct

debits, but do not offer the same

guarantee if the amount or date of the

payment changes.

In most cases, regular payments can

be cancelled by telling the company

taking the payments. However, you

have the right to cancel them directly

with your bank or card issuer by telling

it that you have stopped permission for

the payments. Your bank or card issuer

must then stop them – it has no right to

insist that you agree this first with the

company taking the payments.

Be aware, though, that you will still be

responsible for paying any money that

you owe.

 

 

dx

[muffin83]

Thank you both, thats massively helpful. I emailed the bank (Nationwide) today via the secure area of my online banking and requested that all transactions to this company cease with immediate effect, however i'll put in in a letter too.

[renegadeimp]

Best thing to do is type it up and hand it to your bank in person.

[janeking79]

Hello I recently had a loan with CFO Lending, it was paid of in pull at the correct time.. So I needed another one, the loan was approved.. I have now been waiting now nearly Two days and not received any money or emails has anyone had this trouble them selves?