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CFO claiming I owe differing amounts help

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they offer new loans so you have to put new bank details and card number in - they then refuse the new loan and raid your bank to pay off the first loan they have been chasing .... it's just another form of debt collecting they've thought up !


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Yep they are shocking for dirty tactics. I just feel for the people who fall for it making a bad situation worse. Makes me laugh that they said to ring they can't have paid too much attention to my complaint where I say I won't talk to them on the phone!

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Just remember, the clock is still ticking down from when you sent them the formal complaint.


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..

 

 

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Advice needed please (although I suspect I know the answer) Today I received the following.

 

 

Dear

 

Thank you for your email.I can confirm that your account has been fully noted and further contact from me will only be in written form.I understand that your complaint is in reference to your outstanding balance with the business, and you would like confirmation on the total amount you owe the business.*Firstly, I would like to apologise on the way that your account has been managed by our collections team and that you have need to escalate your complaint to this extent.*Your account has been reviewed and I can confirm the following:On the 27/07/2011 you took out a loan for the amount of £250.00, this loan had a due date on the 12/08/2011 with a full amount repayable of £347.50.*On your loan due date the 12/08/2011 the business failed to receive any contact or payment from you, due to this our collections procedure commenced and charges were incurred to your account in line with the terms and conditions of your contract.*To date you have paid a total amount of £109.93, and your current outstanding balance to date is the amount of £535.57 with all charges included.*After careful review of your account I am willing to reduce all your interest and charges to your original amount due of £347.50, and take the amounts that you have paid into consideration which will leave you with a new balance of£237.57.I will also be happy to continue with your payment plan in place for £10.80 per month.If you are willing to accept this proposal please can you respond to this email confirming your new balance and complaint resolution?I will await your response.Kind Regards

 

 

I have asked them to clarify if this is their formal response as it does not answrr my complaint at all. What would you guys advise I do?

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If they are removing the charges from the account, taking it back to the amount you originally borrowed and allowing you to repay the balance at £10.80 per month I would say you've got a result.


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nice climb down from then. Sad to see they are trying to say that removing all unlawful interest and charges is them being helpful.

 

Overall though it appears to be a good result. Just make sure you are paying via standing order.


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..

 

 

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It is tempting. However they have not answered my complaint just feel as though they are trying to fob me off there are at least 8 issues raised in my complaint which have been ignored there is no explanation to their actions. I may be shooting myself in the foot here but I want proper answers. I am going to wait and see if this is their response and go from there. :-/

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Write back acknowledging the repayment. Say you want to go through with it, but you want answers to your FULL complaint or you WILL take it further. As you said, they are trying to sidestep the complaint. They know they theyve messed up big time, but are trying to act like if you accept their proposal, then the complaint is sorted.


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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What are you hoping to achieve by saying they haven't answered your complaint ?


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As stated above I would like an explanation from them regarding the issues set out they have in no way answered my complaint as yet but I do not know whether todays email is their formal response or not until I know that I cannot make a decision on their offer. I don't think this is unreasonable on my part.

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OK, I understand that you want them to explain their behaviour, but they are actually making a decision to accept your offer of payment of £10.80 per month to repay what you actually borrowed - did you think they would wipe the loan completely ?


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I have been trying to come to arrangement with them for some time (and been paying them whilst trying to get them to accept an arrangement) and my correspondence was ignored. I most certainly do not think they would wipe the loan completely nor would I expect them to and I will probably take renagadeimp's advice.

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Just make sure you still continue paying as you have done. And do NOT let them add on any conditions to the repayment plan unless it is something standard such as a re-evaluation clause every 6 months or so.


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 will do and thanks again for your help it is very much appreciated.

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I’ve had similar issues and after a horrendously long dispute managed to agree on a figure which I owed them. In my experience with afew PDL companies, if they aren’t getting certain details right and you dispute them…they end up slipping up more and more.

 

In this instance CFO had the amount I owed wrong, had failed to acknowledge certain payments made (it takes them several weeks to cash incheques which I learnt from my discussions with Stepchange who handle my DMP) and they were unable to give an itemised statement of breakdown and charges –any explanation regarding how charges and interest had been applied were done in brief and in writing, despite me requesting an itemised statement.

 

In the end I threatened to go to the FOS and suddenly gotthe result I wanted in that what I owed was in line with what I said I owed to them. All this was done by email so I have documentable evidence should I need it. Furthermore, they outright lied when they said Stepchange had not been in contact with them regarding ‘missing’ payments – when I spoke to Stepchange they had the exact name of the ‘account manager’ which I had been talking to.How would Stepchange know this detail if I had not told them? CFO are terrible lying sc**mers in my experience.

 

However, the story doesn’t end there. Having finally paid off the account through my DMP I received a letter a couple of months later stillstating I owed several hundred pound. Haven’t had anything since, save the odd email inviting me to take another loan out with them. The account is still showing as in default on my credit report and I am trying to get it amended to closed and settled which is the true status of the account.

 

Just make sure you review and follow up your credit report after settlement!

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If they still chased you after its paid off AND theyve lied to try and get money from you, please do not ignore it. You MUST report it.


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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