Just a quick update, I made a formal complaint and followed this up today as I had heard nothing, I was given the following response: Dear Mr. XXX I have checked the records concerning this complaint, and find that you were advised on the 4th October 2012 by my colleague XXX that we were unable to assist you in this matter. She has logged your complaint as agreed, but no further action was to be taken.Should you wish to pursue this matter further, I would advise you to contact the Financial Ombudsman Service. I hope this will be of assistance. I assume then the next step is to contact the FOS?

(2) Such consent— (a) may be given before or, if agreed between the payer and its payment service provider, Does that not imply that by signing the terms of the loan company (the ones that authorise them to take payments at any time) is effectively giving them the right to take the money?

Let me double check but I am pretty sure that was the one I applied to

Thank you all for the advice so far, I am going to wait for a response to my initial email and complaint before sending over another email as detailed above...would you agree that to be the best course of action? Also, Ell-enn, the other company is Zebit

Hi Renegade, Thank you for the advice, I have already sent the email with my contract and explaining the situation so I assume now I just have to wait for a decision from their complaints people? One question (as you do seem to be the person recommended to speak to about such issues), would a court claim have to be the next step or should I attempt complaining to the fos?

Thank you for your advice so far, a quick update: I have since called them back and threatened them with making a complaint, they put me on hold for ten minutes and told me they could still not to anything. I have made a formal complaint (the lady - who was very understanding by the way) suggested that there is not much they can do and I have now (as they asked) sent an email with the original contract in it. They have again talked about it being a loan and I owed the money and therefore they could not reclaim it, they also mentioned that there is likely a clause that suggests that they can take money out as often as they like at what ever timing they like until all monies are repaid (i checked and that is in there). I have been told that it could take up to 56 days (will likely be much sooner) until they come back to me with a decision. You have already been helpful but is there anything else I can do in the meantime? Ell-enn, I cannot remember the name of the other company but will check this evening ( i am currently in work and have already taken a lot of time away to try and sort this out - given that my director has offered to advance me my commission to help take the stress away I dont want to take advantage, I promise to check this evening).

I am currently having a very similar situation to a lot ofyou, on Friday CFO cleared my account over 6 transactions. I too have done some stupid things relating to these loancompanies, I wanted to take out a small loan a few weeks ago to cover myselfuntil a commission cheque came in and happily handed my details to a company I hadnever heard of before. Turns out they are part of the cfo group and it was agreat way for them to get my details, pay day arrived and that was me clearedout. I have spoken to the bank (Natwest), who in the firstinstance were very helpful and suggested that I speak to the visa people abouta chargeback (exactly the same advice you give on here). However, I have justspoken to them and they have told me that because it was a loan that I owedthen the bank could not refund the payments. I tried quoting the fsaregulations on the matter but they were having none of it. I am really stressednow and don’t know what to do, I would be really grateful for any advice. Ihave no issue with paying off debts, I am currently paying off 3 priority debtsat the moment and will eventually get to all of them (including cfo) but Icannot believe they are allowed to take money out of an account without myauthorisation-especially as the rules apparently say they cannot?