CFO Lending cleared my bank account

[ianbford]

I had a loan from CFO for £510 in 2012 and due to financial problems I have used a search engine to look for a small payday loan last month. This referred me to CFO Lending so I cancelled the application.

 

My monthly wages went into the bank today and CFO Lending have taken 14 payments as follows;

 

1 x £510

1 x £249.90

7 x £42.84

5 x £46.41

Total = £1291.83

 

I never gave CFO Lending the bank details for this account but after a number of calls to Lloyds Bank (my bank) and being advised to call them was told they took the bank card details from this new application (which I did not make to them and did tick do not pass on my details).

 

1. CFO Lending have refused to refund any part of the monies taken without authorisation.

2. The bank are saying they cannot do anything until the funds have cleared next week (they are currently lodged for and pending)

 

This means I have lost a day off work trying to sort this, we cannot pay any bills and have no food money this month. Anyone come across this and is there anything else I can do. Called bank, trading standards and FCA (got cut off from FCA though)

[dx100uk]

moved you to the CFO forum

 

you'll see here this happens all the time

 

IMHO the bank are WRONG!!

 

which is strange

 

as we've had just this week

clarification that Lloyds DO refund immediately!

 

http://www.consumeractiongroup.co.uk/forum/showthread.php?392710-they-drained-my-lloyds-account-lloyds-had-refunded-before-i-got-to-the-bank!!-**resolved**

 

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

[citizenB]

If you have not given CFO your bank details, then IMHO you should speak to the Bank's Fraud Department.

[ianbford]

If you have not given CFO your bank details, then IMHO you should speak to the Bank's Fraud Department.

 

I have spoken to the banks fraud department but they are saying there is nothing they can do till the payments have actually cleared, probably 2-3 days. I also spoke to Debit Card disputes who told me to call CFO who were about as helpful as a chocolate fire guard.

[ianbford]

To add insult to injury I have just had a text from CFO Lending "you have failed to honour your payment arrangement and CFO may now attempt to settle your loan. Call 0208 451382 now to make a minimum payment"

 

I have called them twice as their office had already stated they had full payment of my account (and some) but the number just rings out then they hang up.

 

Scrub the above just got through and was told I owed £959 and they could not explain why they had taken £1291.83 then starting waffling that was on a different system, which now showed the account was paid in full.

Edited May 31, 2013 by ianbford

[renegadeimp]

Speak to the banks fraud department and contact actionfraud. Get the crime number from actionfraud, and give it to your bank. They are then obliged to refund the money.

[dx100uk]

that's an idea!

 

dx

[ianbford]

Thank you for the advice. Lloyds TSB have done nothing still claiming they have to wait for funds to leave my account instead of pending. I have lodged a case with action fraud will let you know what happens.

[ianbford]

Called Lloyds Fraud Department, gave them the crime number and big surprise they are still doing nothing.

[renegadeimp]

You need to make a FULL complaint. They are basically ignoring the law and police now.

[ianbford]

I have lodged a complaint and they were going to do the paperwork and call me back. Guess whay no call. I will submit a written complaint. Thank you for your advice in this matter.

 

Oh and during these investigations found that Cash Genie have took £250 too, just got lost with the size of the CFO money. £1541.83 out of my wages in one day, who do they think I am a Bank Manager?

[dx100uk]

god..thats appalling!

 

either kill these PDL's mate

 

or put your wages into a parachute account not linked to aNY BANKING GROUP you have debts with

 

and NEVER EVER give the details out

or use the card.

 

dx

[ianbford]

The coincidence is that I have another Lloyds account where I normally have my wages paid into, but to use the cashpoint you can only use a Lloyds one, so it was only this month that I changed it to this account. Mad thing is I know what I should be doing as I work in a senior management position for a large corporation, but our finances have been a mess for a while as we own a house around 100 miles away that has been empty for 4 years and needs around £12k of work doing which we are trying to sort, but paying for that and the rented house we live in has killed us. Not this month though cant pay either unless the bank cough up and I am not sure they will.

 

I have heard much of that advice all day from the Mrs although in fairness she has took it quite well.

[renegadeimp]

If they dont cough up then you issue a full complaint and give them 14 days to respond. If they dont, then you issue a LBA and take them to small claims court. With banks, they tend not to respond until the court documents land on their desk. Then they roll over, give you your money back and say its a "gesture of goodwill".

[dx100uk]

and you went to pdl's god slapped wrists this way too!

 

dx

[ianbford]

You mean the gesture of goodwill that really means we know we are wrong but by acting like this 9 times out of 10 we get away with it!

[renegadeimp]

Yep. Too many people fall for it, and the banks know it.

[ianbford]

I left Nationwide last year after decades with them because of the following incident;

 

Went to a cash point and tried to withdraw £150, ATM crashed so I tried again same happened. Moved on to another ATM and it said no cash available. The machine had deducted £300 from my balance but gave me no cash. Took nearly a month to get the money back. Talk about sharp practice. It's as if it's their money just winds me up when they have caused much of the mess the country is in now.

[ianbford]

On the phone again to Lloyds, escalated to a manager but they are still refusing point blank to refund until CFO have completed the transaction and it is on my statement. Issued an official complaint.

[ianbford]

Money now showing on my statement but the fraud team passed me to unauthorised transactions (thought that was the same) who refuse to refund saying that I took a payday loan out with this company so they cant do a refund I have to resolve with the company. Every question I raise she just repeats the same statement over and over a talks over me. On hold for a manager as i type. Disgusted.Just had another text from cfo saying i had not paid the "agreement" so they are going to use my details to take the money. Not sure if they are trying to cover their tracks or just incompetent.

[dx100uk]

refer him to post 2

 

its a cpa , by fca rules they must cancel and refund.

 

typical Lloyds!

 

dx

[ianbford]

I am now on hold for complaints, just hoping by the time they sort it we still have a roof over our head.

[ianbford]

Complete dead end bank not willing to do anything, guess where my wages will not be going next month or ever again.

[ianbford]

I will be doing the same but also considering a stat demand against CFO as they were not owed the money, if no response will follow up with a winding up order.

[ianbford]

You need to be getting a complaint in to the FCA stating what the bank is doing. However, it would greatly help your case if you got it in writing from the bank that they wont cancel the CPA.

 

ALso remember, that if the money is a significant sum, you can issue a lba and then follow it up immediately with small claims action. As soon as the court papers land on the desk of the head office, they will shift into gear. If you choose to do this though, be ready to go to court if necessary. It would be an open and shut case that is pretty much a guaranteed win for you, and theyll most likely settle out of court anyway.

 

Thanks for the advice I have just drafted the letter for Lloyds TSB stating the complaint, my losses, my expectations from them and marking the letter as confirmation of my recorded verbal complaint and an official lba.

 

I have given them 7 days to respond