CFO Advice Urgent!

[kamwendo]

Hi,

 

I got a loan last year with CFO and was unexpectedly made redundant a month later.

 

I went with a debt management company as I was getting no where trying to stop the interest and arranging a repayment plan.

 

I have been doing this since last August and everything has gone well.

 

Until last Thursday CFO took £300 out of my other bank account as a card payment.

 

I have never ever given them my card details or account details.

 

I am also not sure if it is for my loan or someone elses.

 

I am wondering what my rights are here as I have never ever given them permission to use my TSB account.

 

The one I used with them was Natwest.

 

Also what should I do?

[dx100uk]

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/- 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.

.

see: http://www.consumeractiongroup.co.uk/forum/showthread.php?336569-How-to-remove-a-lender-s-continuous-payment-authority(2-Viewing)-nbsp

.

http://www.fsa.gov.uk/pages/consumerinformation/product_news/banking/know_your_rights/solving/index.shtml

dx

[kamwendo]

Hi,

 

Cheers for the response.

 

The problem is I have never ever given capital finance these bank details

I don't know where they got them from.

 

I only used my natwest details with them.

 

So they have gone into my account without my consent.

 

I made sure no pay day people had my new bank card

and have never given the tsb account details to cfo.

 

Surely if I have never given them my tsb bank account

and card details they have no authority to use them.

[dx100uk]

you've given them to some PDL company or loan website

or more prob, the fee paying DMP company.

 

dx

[kamwendo]

so does that give them authorisation to wipe my account out.

[Bombaymix]

Have you given your new bank details to ANY payday loan company.

 

CFO have been spoofing people recently with a "new product" called CFO resolve. They say they'll give you cash today and add your old debt to it... Simply to get hold of your new card and bank details.

 

You need to report this transaction to your banks fraud team. Tell them it was an unauthorised transaction and you want a chargeback. Report it to the police also if need be

[kamwendo]

Yeah i'm going to do that just wanted to make sure I was within my rights to do that.

 

So if I talk to the fraud team and get my money back as I never gave my details to cfo lending that would be ok.

 

Its disgusting that they can get your details from anywhere and just use them without your permission. Its scary.

[Bombaymix]

Very scary!

 

If you'd had an association with CFO via your bank they'd try and tell you that you can't do anything about it.

 

Yes, contact your bank ASAP (if not sooner) and tell them you wish to report a fraudulent transaction on your account. Demand a chargeback. They may well try and fob you off with "you need to wait 14 days", tell them No, not 14 days, NOW! Keep going up the chain, supervisor, team leader, manager etc.

 

Let us know how you get on

[kamwendo]

Thank you and I will do.

[coochy123]

I'm sorry if I'm hijacking this thread

- I don't mean to but just to add to the OPs complaint about them obtaining details not given to them... They did the same to me!

 

They swiped almost £300 from my new bank account 2 days before Christmas, even though I had a payment plan in place with them via a DMC.

 

When I confronted them about it, they told me that I had reapplied for finance with them and therefore gave them my new card details and permission to use them.

 

I can say that at no time after taking out my original PDL with them, did I apply for finance with them or with any other PDL.

 

I asked them to give me the exact dates and times to which I applied and they couldn't.

 

I was fortunate enough to get my money back via a chargeback but I have never been able to find out how or when they got my new details!

 

Hope you get your money back!!!

[coochy123]

And.... scarily enough, the account details they originally had were with Natwest and the new details they got, from god knows where, were Lloyds TSB.

 

I am convinced they somehow got my details from my DMC although the DMC strongly deny that that could've happened!

[dx100uk]

I really do hope that not a fee paying DMC?

 

dx

[coochy123]

I really do hope that not a fee paying DMC?

 

dx

 

Unfortunately it was...

 

I have seen the light now though (after that issue anyway! There've been other issues where contact details have been passed on and the only people to have those details are the DMC etc etc) and am now in a self managed DMP!

[dx100uk]

most fees paying DMC's are intertwined with the creditors

 

 

dx

[coochy123]

Oh really?? That's interesting!

Thanks for the heads up on that one!!