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CFO Lending - Illegal Action?


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You do. But you can revoke the permission at any time.

So at the time the company took the money he owed them they had his express permission to take the money.

I don't like these companies but there is no point complaining if we owe them money and they legally take what we owe from our accounts.

 

Yes it came as a bit of a shock they had managed to get the money he owed them from him but learn from it and move on

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If the debtor has given the bank an instruction to deny payments then under fca regulations the authority to debit the accou t has been revoked. There is no obligation to inform the creditor.

 

If no instruction was given to either the bank or creditor then the creditor still has permission to debit.

Any advice i give is my own and is based solely on personal experience. If in any doubt about a situation , please contact a certified legal representative or debt counsellor..

 

 

If my advice helps you, click the star icon at the bottom of my post and feel free to say thanks

:D

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