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    • Hi   Something else I think you need to ask the Insurer for Clarification on is.   That you require full clarification on which clauses within the Terms & Condition of the Policy they are using to refuse payment under the Policy.     I would also consider sending the Insurer a Subject Access Request simply asking for 'ALL DATA' this covers whatever format they hold it in whether it be email/telephone recording/written format etc. (note: if they require you to use their own subject access request form always put 'ALL DATA' on their form)    
    • matters not what they come up with it's statute barred      
    • Revised defence:   The Defendant contends that the particulars of claim vague and are generic in nature. The Defendant accordingly sets out its case below and relies on CPR r 16.5 (3) in relation to any particular allegation to which a specific response has not been made.   1. The Claimant claims £2247.91 is owed under a regulated consumer credit account under reference xxxxxxx. I do not recall the precise details or agreement and have sought verification from the claimant and the claimants solicitor by way of a CPR 31.14 and section 78 request who are yet to fully comply. I dont believe they have provided this yet correctly   2. Paragraph 3 is denied.The Defendant contends that no notice of assignment pursuant to s.136 of the Law of Property Act & s.82 A of the CCA1974 has ever been served by the Claimant as alleged or at all. still stands   3. It is therefore denied with regards to the Defendant owing any monies to the Claimant, the Claimant has failed to provide any evidence of assignment/balance/breach requested by CPR 31. 14, therefore the Claimant is put to strict proof to:   (a) show how the Defendant has entered into an agreement; and (b) show and evidence any cause of action and service of a Default Notice or termination notice; and © show how the Defendant has reached the amount claimed for; and (d) show how the Claimant has the legal right, either under statute or equity to issue a claim;   4. After receiving this claim I requested by way of a CPR 31.14 request and a section 78 request for copies of any documents referred to within the Claimants' particulars to establish what the claim is for. To date they have failed to comply to my CPR 31.14 request and also my section 78 request and remain in default with regards to this request.   5. As per Civil Procedure Rule 16.5(4), it is expected that the Claimant prove the allegation that the money is owed.   6. On the alternative, as the Claimant is an assignee of a debt, it is denied that the Claimant has the right to lay a claim due to contraventions of Section 136 of the Law of Property Act and Section 82A of the consumer credit Act 1974.   7. By reasons of the facts and matters set out above, it is denied that the Claimant is entitled to the relief claimed or any relief.    
    • Just received a letter from lowells sols stating they have note of my aos   They have stated they have attached -  Copy of agreement, statement and notice of assignment   HOWEVER - they had not attached my notice of assignment and they have sent me the same 'agreement' as before which was 3 pages of a computer print out, statement and some rehashed t's anc c's. i can re upload again but its exactly what i uploaded before   They state they have requested a copy of my default notice   So in light of this shall i still send the same defence? i think it still stands right?  
    • Just had a Clear Score update which says:   A credit or store card account will be removed from your January report. Organisation Name: Hoist Account Number: ****9048 Company Type: finance house What does this mean? This means that you’ve closed an account. Maybe you’ve changed your phone contract so the phone loan has been removed from your report. Why is this change not on my report yet? We get your credit report every month from Equifax, a credit reference agency. This update can be seen on your Equifax credit report now but will only be reflected in your ClearScore report when your report is next updated, which is on 2 January. Is this a usual part of the process? I'm submitting my defence this weekend. I'll post it on here first.
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Gone into administration.

 

When the FCA banned them from operating as a Payday Lender, they also ordered CFO to redress customers who had been unfairly treated.

 

Today, they have gone into administration, with emails from the administrator stating the actual figure owed to the individuals, but it won't be paid.

 

:!:

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Why wont it be paid? I got an email saying i was owed a poxy £40 which is nowhere near what i think they shoukd owe me

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Got it as well - into administration at virtually the start of the new tax year: all that talk about redress and now there's nay money in the pot! Bye bye 125.50 :evil:

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Why wont it be paid? I got an email saying i was owed a poxy £40 which is nowhere near what i think they shoukd owe me

 

Because their creditors get first pick, and anything left is then distributed between everyone else.


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I'm just curious as to why the 34 million redress package was even agreed with the FCA, in the absence of any reasonableness that they'd be able to honour it.

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CFO Lending Have Entered Administration Today

 

CFO Lending

CFO Lending Limited – In Administration

 

We, Paul Boyle and David Clements of Harrisons Business Recovery and Insolvency Limited, were appointed Joint Administrators of CFO Lending Limited (‘the Company’) on 6 April 2017 at 11.40am The appointment was made by the directors of the Company pursuant to Paragraph 22 of Schedule B1 of the Insolvency Act 1986 and was filed at The High Court of Justice Leeds District Registry.

 

We can confirm that the Financial Conduct Authority (FCA) has consented to our appointment as Administrators. The purpose of this document is to provide clients and creditors with an outline of the current position, to explain what we intend to do as regards the Administration and provide details of what information we require.

 

Our role as Joint Administrators is two-fold. The first objective is to protect the interests of creditors generally, including consumer creditors. Second, we wish to maximise realisations from the assets of the Company, which may assist towards achieving the first objective. We can confirm that we are working closely with the FCA to achieve both of these objectives and will to do so.

 

The principal asset in this Administration relates to the outstanding loans repayable to the Company (the Loan Book) from consumer borrowers. The Company offered two types of loan: ones often described as ‘payday’ loans and, to a smaller extent, guaranteed loans.

 

Harrisons are the Administrators - Keep an eye on this one ladies and gents.

 

Link To Article


**Fko-Filee**

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I can send a copy if someo e can tell me how to do it

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Click on the "Forward email" box in your email program and send it to: admin@consumeractiongroup.co.uk


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Guys

 

Can someone send a copy of the email to admin... This is important.

 

Ive forwarded a copy of the email now

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I'm just curious as to why the 34 million redress package was even agreed with the FCA, in the absence of any reasonableness that they'd be able to honour it.

 

Most of the £34 million was write offs. I think they had to actually pay about £2.7 million in redress. Knowing what a bunch of snakes these people are I thought there would have been checks to make sure they had the money and that the money was ring fenced.

 

I always wondered what the incentive was for these guys to do the right thing as they were no longer actually making money from this business. With companies like Wonga and Sunny it makes sense to pay as they are still in the game. These guys have no doubt been taking monies out of the company in recent months in one form or another with the clear intention of going into administration in April. The FCA have known for at least a month CFO have not been making payments when due and fobbing people off with weak excuses.

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Why wont it be paid? I got an email saying i was owed a poxy £40 which is nowhere near what i think they shoukd owe me

 

It states this under the value of what you were owed -

 

Unfortunately, we do not currently envisage that there will be sufficient funds to enable the payment of a dividend in respect of your claim in these proceedings. We would, however, urge you to periodically review our website for updates in case that position changes.

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So it looks like I can say goodbye to the £820 that they say I am owed

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Perhaps CFO had every intention of making the redress payments (and maybe still will). It is almost certain that since the announcement and the headline £34m figure hitting the press they have had a huge surge in claims for unafordable lending. People would would have been due a payment of £40 or £50 pounds under the redress scheme may well have been due a payment of £1k or £2k if they made a complaint and that was upheld. Clearly compensation in these claims will never be paid.

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I have tried ringing that administrator but I am just getting music I am so annoyed

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I have been told that the administrator has till June to let us know what will happen. I have resigned myself to not getting any payment but am annoyed that this has been allowed to happen and why has the FCA not made sure that we got paid

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I have been told that the administrator has till June to let us know what will happen. I have resigned myself to not getting any payment but am annoyed that this has been allowed to happen and why has the FCA not made sure that we got paid

 

Was your payment part of the redress scheme or a separate complaint made by you

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Was your payment part of the redress scheme or a separate complaint made by you

 

Part of redress .scheme

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Maybe a daft question but can the fscs help in this situation

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Most of the £34 million was write offs. I think they had to actually pay about £2.7 million in redress. Knowing what a bunch of snakes these people are I thought there would have been checks to make sure they had the money and that the money was ring fenced.

 

I always wondered what the incentive was for these guys to do the right thing as they were no longer actually making money from this business. With companies like Wonga and Sunny it makes sense to pay as they are still in the game. These guys have no doubt been taking monies out of the company in recent months in one form or another with the clear intention of going into administration in April. The FCA have known for at least a month CFO have not been making payments when due and fobbing people off with weak excuses.

 

Cheers - I knew the figure was a bit high as soon as I typed it!

 

My thought was/is that there was no intention to reach the point whereby redress payments were made but rather just wait it out until insolvency. FCA has a few questions to answer here as well.

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I agree with this I believe that there had been no intention to pay this redress. Why was this not sorted out by the FCA instead of dragging it on for 6 months

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I have logged a complaint with the FCA as I want to know why it was not made clear when they asked CFO to pay the redress that funds were available and why was I told in October I was due a redress to be told yesterday that CFO had gone into administration. I would have preferred not to be told anything and CFO just disappeared.

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I have logged a complaint with the FCA as I want to know why it was not made clear when they asked CFO to pay the redress that funds were available and why was I told in October I was due a redress to be told yesterday that CFO had gone into administration. I would have preferred not to be told anything and CFO just disappeared.

 

Its disheartening I know. Just consider yourself free of these disgraceful vultures that they were and move on with everything :)


**Fko-Filee**

Receptaculum Ignis

 

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