Capital One Finance

[Whoopie Do]

I had £642.57 cleared out of Bank on 28th September, they did this with 9 transactions. I phoned by Bank immediately and basically got no joy other than to be told that I needed to contact CFO direct, which I did. CFO informed me that I had applied for finance and had obtained by card details by this means and as I owed them money they were within their rights to raid my Bank even though I had a Direct Debit set up with them and which had been paid also on the 28th. After reading on this site about the Visa Claimback I contacted by Bank again only to be told that it is their practice to wait 15 days before the Fraud Department can get involved, despite the fact that I quoted the FSA regulations to them. Between them, CFO and my Bank have left me no money to live on and I had to borrow money off my mum to pay my mortgage. My bank also informed me that because I had a business relationship with CFO that they could get money off my debit card whenever, irrespective of the fact that the card details they had were old, I got a new card last October and have not give them my details. What happens if the Bank will not give me my money back because apparently my contract, according to CFO, claims that they can use my details if they obtain them from a third party

[ims21]

Thread moved to correct forum.

 

The guys will be happy to advise as soon as they are available.

[renegadeimp]

I think its time the OFT got involved here. It really is starting to look like CFO have obtained a list of accounts and is stripping them clean. God only knows how many they have as a lot of people dont even know this site exists, and we've already had a huge number of complaints.

 

OP, name and shame your bank. They are breaking the law and you must chase them for it. They are obliged by UK law to get that money back into your account.

 

Also, that "contract" they claim you have is borderline fraudulent.

[Ell-enn]

Who did you apply for finance with ?

[Nao]

according to CFO, claims that they can use my details if they obtain them from a third party

 

They are lying.

 

Even if we assume that you really applied for another loan elsewhere then it would not be possible to justify it with the contract of the original loan, it would have to be in the contract of the second loan that they can demand paying off the first loan which would have to be explained to you before signing the contract for the second loan and even then it would still be very iffy due to the fact that you would get a period where you can cancel the second agreement which would make a demand for paying off the first loan through the second contract legally where complicated to say it nice.

[renegadeimp]

CFO seem to have another company that acts as a broker. They take the details, but since they arent actually a broker, the info simply gets forwarded to CFO to use, and they think their "third party" clause covers it.

[Nao]

Debt collection guidelines disagree with them though as its clearly deceptive.

[Whoopie Do]

I intend to fight this all the way, I have the name of Satanders CEO, bit stuck at the moment though cos the Fraud Department are refusing to speak to me because I am a customer of CFO. What do you mean the 'contract' is borderline fraudulent?

[Whoopie Do]

Money Majesty I think but I do not recall giving them my card details but I could be wrong. According to CFO I have applied for credit 6 times this year, which I have not, they even quoted me 3 card numbers, 2 of which I do not have but I think one of them may have been the one before the one I have now. Apparently this card was used in March this year and I have not had this card since last October, wierd!

[Nao]

Do you have that in writing from them about the cards so you could send it to the relevant regulatory outfits? I suspect it might qualify as a quite serious violation of the data protection act.

[Whoopie Do]

Do you have that in writing from them about the cards so you could send it to the relevant regulatory outfits? I suspect it might qualify as a quite serious violation of the data protection act.

 

I only have dates, times and last 4 digits of card numbers that were given to me over the phone

[Nao]

I'd report it anyway, maybe they get lucky cause it was only partial data, but anything that could help getting CFO shut down should be reported.

[Whoopie Do]

Advice Please Anyone!

 

I have waited my 15 days that the Bank said I had to wait before the dispute team could get involved, they are sending me a form to fill in and once they get that back they will refund my money with 48 hours while they do the investigation.

 

They have informed me that if they agree with CFO they will take the money back off me, they have no chance on that as I have opened a new bank account.

 

As there was no recurring payment authority on my debit card for CFO and they have bee passed my details from a third party, what is the best way forward for me to fight this if the decision goes against me. Obviously once I have my money back I do not want the worry of having to think how I am going to pay this back to the bank. I believe the Bank were negligent in allowing these 9 transactions to go through

[Nao]

I've talked with a Solicitor about this very topic (pdls taking payments without authorization) and according to him the pdls have no leg to stand on, his reasoning:

 

at the time the credit agreement is signed both parties are under the assumption that the loan will be repaid on the due date in full (exception: if there was a roll-over agreed before the due date), based on this both parties believe to know the specifics of the transactions under the agreement (payment method, date, amount), based on this you provide the pdl consent to perform that one specific transaction, however you do not provide or imply any consent to any other transaction regardless of what the agreement says.

 

Only if you knew at the time of signing the agreement that you would not be able to pay in full on time (which the pdl would need to proof) would you have given consent for them to perform other transactions up to the amount owed, however it still wouldn't serve as justification for any of their fees which each could still be picked apart.

 

As for card data obtained from 3rd parties / through brokers they spam you with, they can't use the card details for anything in relation to the first loan, what they could do however would be to require you to pay off the first one with the money from the second loan, (essentially a consolidation loan), but they can't use the card details provided in the application of one loan for any other loan.

 

Random remark from the Solicitor: "CFO should have their Terms and Conditions looked at by an actual legal team before trying to justify anything with it, because currently they look like they where conceived by some random drunk they found with his head stuck in the urinal of their local".

[Whoopie Do]

Thanks Nao, I think the Solicitors remark is spot on.

 

CFO have not had any card details from me since I cancelled the one that they had the details for, I clearly remember the Bank telling me that if I had any recurring card payments that I would have to set them up on the new card, which I did'nt so they have obviously got my details from a third party.

 

I am just annoyed that if my case fails and the Bank try and get the money back off me that I will have paid CFO's over inflated charges. What's more annoying is the fact that they agreed a monthly repayment plan with me which I paid by DD and then they go and do this. I would rather not have to pay the Bank back and then stuff CFO in Court as they have also put me in debt with my mother who had to bail me out so I could pay my mortgage etc

[Nao]

So you had a direct debit set up? so CFO used the Direct Debit to drain your account and not the card?

 

While it may seem like the same thing, the OFT would be very interested if it was direct debit abuse, because they have already specifically warned PDls to not abuse direct debit:

http://www.oft.gov.uk/news-and-updates/press/2010/142-10

 

Well, if the Bank took the money again hypothetically it could mean you having to ultimately take legal action at some point to get the decision overthrown, but lets not worry about that for now, important thing is that they are finally refunding.

[Whoopie Do]

No, they took 649 off my debit card and still took the 10.00 direct debit

[Whoopie Do]

No, they took 649 off my debit card and still took the 10.00 direct debit

 

still waiting for Claim Form to get my money back. Just spoke to my Bank and told them they have breached FSA Regulations twice, response was we are working well within FSA regulations. I suggested that when the person I spoke to had time perhaps she should google the website, her response, well I don't have the full legislation in front of me, my response was you don't need the full thing only the part where you are breaking rules. My claim form can take 7-10 working days, its like flogging a dead horse. Day 21 tomorrow and still down 649 quid

.

[Waratah]

CFO seem to have another company that acts as a broker. They take the details, but since they arent actually a broker, the info simply gets forwarded to CFO to use, and they think their "third party" clause covers it.

I got a settlement figure from them that although was more than 3 times the original loan amount I could pay over 3 months and be done with the sharks. I have made the first 2 payments and I am due to make the third in a couple of days. However they just won't give up. Today I received a text from one of their other trading names "paydayfirst" offering me a loan.

 

In a way I am glad they used my stupidity to trick me into increasing my loan with them. Then stinging me with a months interest to increase the loan by 30% effectively more than doubling the amount I had to pay 2 weeks later. Had they not done that I may well have rolled over the loan 3 or 4 times before paying it off and been a repeat customer of theirs for years. However as soon as a saw they stung me I stopped paying cancelled my debit card and had my wages paid into a basic account at another bank.

 

Not paying them for a few months has allowed me to pay off my other debts and get out of the PDL cycle.

[Whoopie Do]

HELP!

 

My Bank are now being total you know whats. Sent the Claim Form back in, no refund received. Phoned the Bank and they are saying there is not enough evidence to raise a claim so they have sent me a new claim form. I trawled through all me emails and found an email that I sent to CFO asking them for a refund but I could not find a response so I fired the email off to the Bank that I had, some 3 days later no refund, they state they are supposed to refund within 48 hours. THis has now taken me a month to get no where, my Bank are adament that they are working within FSA guidelines and will not liste when I tell them they are not.

 

Any advice on where to go from here please

[labrat]

ask them for a Final Responce

 

inform them that once you have this you will be taking it to the FOS/FSA as a complaint

[Waratah]

HELP!

 

My Bank are now being total you know whats. Sent the Claim Form back in, no refund received. Phoned the Bank and they are saying there is not enough evidence to raise a claim so they have sent me a new claim form. I trawled through all me emails and found an email that I sent to CFO asking them for a refund but I could not find a response so I fired the email off to the Bank that I had, some 3 days later no refund, they state they are supposed to refund within 48 hours. THis has now taken me a month to get no where, my Bank are adament that they are working within FSA guidelines and will not liste when I tell them they are not.

 

Any advice on where to go from here please

Ask them to for a brief explanation of their interpretation of the guidelines in relation to their response to you.

[Whoopie Do]

Ask them to for a brief explanation of their interpretation of the guidelines in relation to their response to you.

 

Just had conversation with my Bank and they are not authorising the refund, case is closed. I have asked for a final response letter which they are sending out to me. They are trying to say that because I had dealings with CFO that the trasactions are not fraudulent. I responded that they have no right to use the excuse that I have had dealings with CFO. I agreed a payment plan with CFO and set up a direct debit they did not have my present card details only my previous one, which by the way I chaged last October. THey have picked my details up via a third party. Do I legally have a leg to stand on. I will fight this all the way if I can win and I don't care what lengths I have to go to to do it

[Whoopie Do]

I have now reported Santander and CFO to the FSA

[Nao]

Do I legally have a leg to stand on. I will fight this all the way if I can win and I don't care what lengths I have to go to to do it

 

 

Yes, the law is very clear on this issue, you did not consent to the specifics of the transaction they have to refund immediately.