CFO cleared my account. Help please

[elhs]

Hi - I hope someone can help me with my situation, I am sorry if this post gets a little long ...

 

I missed a repayment with Capital Finance One on 31/01/12. I tried to speak to them about a repayment plan but I was either ignored or told they don't offer them. I then got a text message saying that someone would be "calling at my house TODAY" so I called the 0161 number straight away and was put through to MT Collect. The first person hung up on me when I asked about a repayment plan. I then offered to pay £20.00 a month and the guy laughed at me and said they don't accept under £50.00 a month so I agreed and the first payment was due to be taken out 29/02/12 (today). By the way - I had not been informed my account had been passed over to MT Collect the first I knew was the text.

 

A couple of days ago I couldn't find a number for MT Collect so I rang Capital Finance One to confirm that the £50.00 was set up and ready to come out on 29/02, they told me my account was passed to MT Collect but they could see a repayment plan was set up and confirmed it with me.

 

I rang my bank this morning to find out Capital Finance had taken out £603.54 in 6 seperate transactions. So I called MT Collect who told me it was Capital who had taken the money so I had to speak to them. So I called Capital Finance who told me that even once my debt was passed to the collection agency they could still try and collect the debt for up to 33 days after the due date if the funds were available. I argued with this guy for ages that this made absolutley no sense that I hadn't authorised the transaction he just repeated over and over again about this 33 day rule (which I was NOT informed of) . I asked to speak to someone else. I had a call back from a woman who told me the same sort of thing said there was no chance of a refund as I owed them the money. I told her I could not afford to even get to work or eat now (which is true) because of this and she said sorry but nothing they could do and suggested I should speak to MT again.

 

I then called MT Collect who said that his manager was going to speak to Carly at Capital Finance for me and get this sorted and I should expect a call back. I got a text from MT Collect about an hour later with a ref num to call them so I did and the first guy hung up on me when I said I had already spoke to someone earlier. The second person put me through to the guy I had spoken to earlier who told me the text was a mistake and I should wait for the call back.

 

I have not had a call back.

 

I am sorry this is so long but I am in a complete state of panic now. I have NO money for the whole month - I can't even afford to get to work from next week or eat or pay my rent.

 

I have alot of debt that I was struggling with anyway but had been trying to set up repayment plans with all my creditors. I have now missed the first payments of several of my repayment plans so am being plagued with texts, emails and phonecalls from people wanting their money and cancelling the repayment plans. I have no idea what to do now, I have no-one to ask for help with this.

 

Are they allowed to have taken that money from me?

 

Any help would be so appreciated

[silverfox1961]

Hi and welcome to CAG

 

You authorised them to take £50. they took more. Get on to your bank and demand they refund what CFO took. If the bank refuse throw this at them

 

http://www.consumeractiongroup.co.uk/forum/content.php?850-Continuous-Payment-Authorities-How-to-stop-them

 

If the bank still won't help, threaten to sue them using BCoBS (lots on the forum about this)

 

 

Report them to the OFT, Trading Standards, your MP and anyone else you can think of

[elhs]

thank you I will try this and will definatley be reporting them.

 

Is this the right place for me to also ask for advice on my other debt? I have set up repayment plans with most of my creditors now however a couple of them - PayDay Express and Mini Credit refuse to accept payment plans and are adding charges onto my account daily. Are they in their rights to do this and are they under any obligation to accept my repayment plans? There is no way I can afford to pay the full amounts to them and even when I offered to pay Payday UK money as and when I could afford it they said their system only accepts the full payment due?

 

Thank you for your help, I feel so stupid for getting into this situation but I owe over £7000 in payday loans now and just telling someone on here is helping already.

[silverfox1961]

Obviously the starting point is not to take any more payday loans if you can help it.

Work out what you can afford using the budget planner in the library or this from National Debtline

http://www.nationaldebtline.co.uk/england_wales/budget_sheet.php?country=england_wales

 

The PDLs can add as much as they think they can get away with but it is highly unlikely they will go to court due to their stupidly high interest rates.

Any fees, ;fines; and charges can be safely ignored as they can't get then off you.

 

Have a read of the OFT debt collection guidance then complain long and hard

 

http://www.oft.gov.uk/shared_oft/business_leaflets/consumer_credit/OFT664Rev.pdf

[elhs]

Not sure anyone would lend to me anymore anyway! But I have no desire to get in any more debt! Thank you for your help very much appreciated