Cfo lending

[lewisc19861]

Hi i am hopeing you can help.

 

I took out a payday loan with CFO lending a while back for £500 pounds.

With interest this comes to £680 pounds.

I have rolled over the loan 2 times and on each occasion i have paid the 180 interest.

I have now offered to clear the balance and another 1 months interest in the following plan

April 28th - £180.00

May 28th - £250.00

June 28th - £250.00

 

I was told this would not be possible but i could continually pay the interest and small amounts off my loan.

as of 28th of april i would have paid £540.00 interest

Do you see this as an acceptable plan as they are plain refusing to assist and i feel like i have a case to make a complaint

 

kind regards

[lewisc19861]

any one got any advice no silly 'dont take out payday loans then '

[RobbingHood]

Well firstly the fact you've chosen to roll the loan over 3 times changes nothing I'm afraid, that money's gone and you can't take into account the rollover payments.

 

You'll see on this forum CFO are notoriously hard to deal with, they won't accept a payment plan and if you default they'll be dipping into your account at will to recover the money.

 

Also, they don't have to accept a payment plan just because you think you've paid enough back via rollovers, you would normally have to be in some kind of financial hardship for them to even consider a payment plan, but you didn't mention that was the case?

 

My advice with CFO is bite the bullet, pay them back everything and run from them as fast as you can - if you don't pay them back, it will end in tears.

[renegadeimp]

http://www.consumeractiongroup.co.uk/forum/showthread.php?389211-cfo&p=4211742