Capital Finance problem

[cliinicalme]

Hi,

i've been following some of the stories posted about problems people are experiencing with Capital Finance payday loan

and wondered if anyone could offer me any advice with a problem i've got with this company.

 

On my last payday i found that almost £500 had been debited,

when i checked with my bank they advised that 7 debit card transactions had been taken by Capital Finance.

 

They gave me the phone number for these people as i didn't know them.

 

Capital Finance told me that i had an outstanding agreement with them for a payday loan, taken out in March 2011.

 

I requested a copy of the loan agreement.

 

They emailed me a copy of a loan, in my name and address, for £200.

 

This document was unsigned.

 

When i queried this they said that it was signed electronically.

 

I don't know what to do about this.

 

My bank have been apparently helpless as they say that unless i can prove i DON'T owe the money they can legally debited my account.

 

They have already taken £488 in charges and say there is a balance remaining of £600+.

 

This loan was apparently taken out early 2011,

my address, employer, phone number etc have not changed in that time but my bank changed in Dec 2011.

They could/would not tell me why they have not contacted me for payment before, nor how they have my new account details.

They have refused to consider an agreed repayment plan while i investigate this further and i am, therefore, likely to be cleaned out again every payday.

 

Can anyone offer any advice please?

[Ell-enn]

Have you ever had a payday loan from any other company ?

[dx100uk]

you bank are talking rubbish.

 

rthey are NOT legally obliged to pay them..

 

utter CRAP!

 

they ARE legally obliged to REFUND your money though!!

 

We have been telling people to put a letter into their bank instructing them not to make any payments under any circumstances to these companie

http://whatconsumer.co.uk/visa-debit-chargeback/- it works!

 

banks MUST follow written intructions from their customers !

This fsa guide has now been updated:

 

http://www.fsa.gov.uk/pubs/consumer_...ghts_guide.pdf

 

Here's the text:

 

Cancelling a regular

card payment:

 

When you give your credit or debit card

details to a company and authorise

them to take regular payments from

your account, such as for a gym

membership or magazine subscription,

it is known as a ‘recurring transaction’

or ‘continuous payment authority’.

These are often confused with direct

debits, but do not offer the same

guarantee if the amount or date of the

payment changes.

In most cases, regular payments can

be cancelled by telling the company

taking the payments. However, you

have the right to cancel them directly

with your bank or card issuer by telling

it that you have stopped permission for

the payments. Your bank or card issuer

must then stop them – it has no right to

insist that you agree this first with the

company taking the payments.

Be aware, though, that you will still be

responsible for paying any money that

you owe.

see: http://www.consumeractiongroup.co.uk/forum/showthread.php?336569-How-to-remove-a-lender-s-continuous-payment-authority(2-Viewing)-nbsp

http://www.fsa.gov.uk/pages/consumerinformation/product_news/banking/know_your_rights/solving/index.shtml

dx

[markosoft82]

If you've had a loan with another pdl using your new bank details, then that's where they'd have got them from. I'd put the account into dispute and if possible check to see if any money was paid into your old account. And I am wouldn't enter into a repayment plan, as this would be seen as acceptance