CFO emptied my bank account at 3am :/

[renegadeimp]

Yep. BCCA was a dumb private group. They dont really do anything. Similar to the BBB in the U.S.A

[silverfox1961]

Yep. BCCA was a dumb private group. They dont really do anything. Similar to the BBB in the U.S.A

 

I thought it was the KKK in America

[renegadeimp]

Haha. Nice one.

[Angel_Wings]

Hi Guys on a more serious note , I had problems with this company. I had made a payment arrangement and then surprise, surprise they took all my wages. I think my whole saga is on this site somewhere. Anyway, the BCCA weren't able to help so I went to The Obusiman. It took 2 and a half months but I finally got my money back. I paid off the amount owing, however I was given compensation, money that was taken wrongly and interest. I say go to the obuidsman, may take a while but they get there for you.

[Socks22]

I've just started to experience problems with this company. I was in a re-payment plan with MT taking £20 per month from my account. I then get a phone call last month from CFO telling me I had not been paying, which I had. Sent a copy of my bank statement proving this. I then said to the woman that I had read they were no longer using MT collect, was this the reason I was getting these phone calls. A new payment plan was set in place with her assurance they would take £20 from my bank by card.

I log into my bank account yesterday to find they have cleared it. Several phone calls to them each with different stories - one in fact saying they do not do repayment plans. Phone call to Lucy my account holder (dont think this was her real name as when I ask they faultered). She said there was one in place but I had applied for another loan with them which then cancelled out the payment plan (absolutely total lie) as I spoke to this woman after the date she said I applied. They took over a £1000 from my account. I am now unable to pay my mortgage - which the company aren't happy about and now causing me a great deal of stress as I now have to find the extra money to live.

 

I asked for their complaints procedure which doesn't exist on their web site - they said email so I did but no reply as yet, and don't think they will. I have started to record everything down.

 

 

How can this company still trade if they are a member of the FSA? They need to be shut down.

[dx100uk]

start a new thread

 

see below

 

dx

[Socks22]

I've just started to experience problems with this company. I was in a re-payment plan with MT taking £20 per month from my account. I then get a phone call last month from CFO telling me I had not been paying, which I had. Sent a copy of my bank statement proving this. I then said to the woman that I had read they were no longer using MT collect, was this the reason I was getting these phone calls. A new payment plan was set in place with her assurance they would take £20 from my bank by card.

I log into my bank account yesterday to find they have cleared it. Several phone calls to them each with different stories - one in fact saying they do not do repayment plans. Phone call to Lucy my account holder (dont think this was her real name as when I ask they faultered). She said there was one in place but I had applied for another loan with them which then cancelled out the payment plan (absolutely total lie) as I spoke to this woman after the date she said I applied. They took over a £1000 from my account. I am now unable to pay my mortgage - which the company aren't happy about and now causing me a great deal of stress as I now have to find the extra money to live.

 

I asked for their complaints procedure which doesn't exist on their web site - they said email so I did but no reply as yet, and don't think they will. I have started to record everything down.

 

 

How can this company still trade if they are a member of the FSA? They need to be shut down.

 

 

I have just received an email from CFO stating again I applied for a loan from them on the 5th July - total lie as I would not use them again - plus one of their reps phoned me after that date to set up a new payment plan stating she would only take £20 (another lie). I have spoken to my bank but because they say I gave them my card I gave my permission for them to take the money, if the problem isn't resolved in 15 days to contact them again.

 

Will the FSA really be able to do anything or am I just wasting my time and this bunch of lowlifes have got away with it??

[renegadeimp]

IF they are saying you have a debt with them and you dont, write back to them with the following info: http://www.consumeractiongroup.co.uk/forum/content.php?428-General-debt-letter-if-you-know-nothing-of-the-debt

 

 

Do NOT send anything else. Just send that letter word for word. It is up to them to prove that you opened an account and got a loan. They would need to prove that they paid the money into your bank account, and if they are trying to commit fraud, then you can simply check the bank statement.

[azzadle]

Afternoon all,

 

Got a nasty surprise this morning when I checked my bank at the cashpoint at work (this was at 5.30am, my wages went in at 12.30) to find I could only withdraw £125.39. Phoned up my bank (Co-op) to find out what the hell happened and found that "a company" had taken:

 

3.04am - 3 x £25

3.05am - 1 x £25

3.05am - 1 x £50

3.47am - 1 x £139.82

4.03am - 1 x £358.50.

 

As soon as she said that I knew who it was. I had a loan with CFO for £358.50 from about 18 months ago, defaulted on it and they've tried phoning me twice in that 18 months. No letters, no communications, nothing. I assume the 358.50 is the loan, the 139.82 is the interest and the rest is just any old charge they can get hold of.

 

I managed to withdraw £120 but I have £400 of outgoings today, including my rent and car insurance and a very empty petrol tank to fill. Co-op say it takes 4 working days to trace it, can't dispute it until then and have cancelled my card in the meantime but when I asked them what the hell to do, they said "sorry, we can't help you.". Surely they must be able to help me in some way here? This is desperate!

[azzadle]

I should add that they have never had these account details. How they got my card number is beyond me. Surely that itself is fraud?

[citizenB]

I think if more people realised what could happen when they sign up to these PDL companies.. they wouldnt do it..

 

I find it quite interesting that the PDL company have made 5 stabs at seeing what they can get out of your account. Usually this would be sufficient for the bank/credit card company to think.. "fraud".. but nope they just think.. what the hell.. PDL company let them at it.

 

You should be able to get your money back - why it is taking the Co-op so long, I have no idea. But if you have not given CFO permission or withdrawn your permission then according to the rules - they cant do it !

[citizenB]

I should add that they have never had these account details. How they got my card number is beyond me. Surely that itself is fraud?

 

Have you any other loans with other PDL companies ? I understand they share details ??

[azzadle]

Nobody has access to these card details. NOBODY. Not even my girlfriend. The card i used to.sign up to CFO with is defunct. Btw, they actually took 7 lots and co-op said to me 'are you sure it wasnt you'.. I was asleep love.

[citizenB]

Then I simply dont know the answer, hopefully the Co-op can resolve that one for you.

[LaughingGirl]

I think if more people realised what could happen when they sign up to these PDL companies.. they wouldnt do it..

 

I find it quite interesting that the PDL company have made 5 stabs at seeing what they can get out of your account. Usually this would be sufficient for the bank/credit card company to think.. "fraud".. but nope they just think.. what the hell.. PDL company let them at it.

 

You should be able to get your money back - why it is taking the Co-op so long, I have no idea. But if you have not given CFO permission or withdrawn your permission then according to the rules - they cant do it !

 

I'm glad someone else has mentioned this! When I was in PDL hell, one of the PDL Co's did this to me too (shocker, I know) - but the month before NatWest had frozen my card because a faulty streamline machine had tried to debit my card for £25.50 three times in a row. I actually asked Natwest how they would freeze a card over multiple payments from one source but not for another, when the amounts in question were almost identical. I was told that they couldn't tell me because giving out information like that is a security risk. I find it completely bizarre and more than a bit shady, personally.

[azzadle]

I didnt expect you to

 

You'd think they could provide me with ab emergency o/d to cover this but blood and stone come to mind..

 

Wanna know the best bit lg? They blocked my card for multiple transactions last month until i confirmed it was me using it, only 3 times in the same day, it was in a shop.. Where i work.. WHICH IS A CO-OP :/

[LaughingGirl]

Doesn't surprise me at all. It's no wonder the majority of people think that banks in this country are the biggest con artists known to man, really.

[slick132]

Hi Azzadle,

 

You may find some useful info in this thread that is similar to your case - http://www.consumeractiongroup.co.uk/forum/showthread.php?360740-CFO-Drained-my-account-Too!

 

[azzadle]

Small update, transactions havent cleared yet but spoke to co-op bank earlier who said as soon as its cleared to get onto them and while i'm on the phone they can reverse it and credit my account instantly there and then and they'll investigate. Pretty helpful.

[renegadeimp]

Sounds like the PDL exploited a CPA on the account. It should be fairly easy for the bank to start chargeback proceedings on the account.

[azzadle]

Agreed but it still baffles me how CFO got the card details. I have 2 outstanding pdl's, the other with mini credit but i've not given them these details either, i only ever pay in cash at a bank for these lot.

[renegadeimp]

If you gave them another cards details but the new one is tied to the same account, the CPA allows them to continue to debit your account regardless. It basically authorises them to debit the account as normal.

 

CPA's should be banned and the only methods of payment should be either Direct debit, or single transactions on your card. The use of CPA's is the biggest sc@m going.

[BornThisWay]

Azzadle I was told by NatWest that a PDL company can force through old card details because 'if they weren't able to do that you might take out a loan, cancel the card, and not repay them'...............hmmm.

 

Two points a) that is none of the bank's business, they are supposed to process your money according to your requirements, not in favour of a dodgy lender and b) given the rate of interest charged by these PDL crooks, they are factoring in any such risk many times over.

 

I am still waiting to get my money back but it takes 8 weeks to sort out a complaint!!!!!

[renegadeimp]

If you paid by visa card, then you are entitled to a chargeback. If it was benefit money taken, then it is an immediate chargeback.

 

Once you have it sorted, theres a little trick you can do that will annoy your bank every way possible, but theres absolutely nothing they can do about it. Work out your I&E for the month, and send the bank a notice of appropriation. This secures your base income and outgoings, and nobody can debit it from your account in any way.

[azzadle]

The card i used to apply for any pdl was with Santander and that account is now closed. No pdl has access to these details. Just hope it clears tomorrow then i can get refunded on it and stop any CPA on it. Co-op promised me that there is no way they can get my money now the card's cancelled.