CFO Resolve/ Continuing loan offers

[Th82]

Hi, long story short on here, i took out a loan with CFO back in September. I realised that i couldn't afford this so set about a repayment plan, eventually sourcing one with them (with much pain!)

Since then i have been continually sent various text messages and emails from them.

1. Offering me more money!!

2. Threatening me with phone calls to my office and home (even though i have arranged a plan!)

3. Offering me a CFO Resolve loan/ repayment plan( which obviously i already have)

 

I'm not sure the best course of action here, i'd like to raise this to a higher level as this is incredibly poor from this company

If i complain to them direct i'm sure it will fall on deaf ears, any ideas where to go from here?

Thanks for everyone's help!

[silverfox1961]

Hi and welcome to CAG.

 

If you WRITE a formal complaint, they have to deal with it. Never phone them-EVER!

 

After 8 weeks, if they haven't resolved the complaint, you can escalate it to the Financial Ombudsman.

 

In any letter to them I would demand in the first instance to remove all phone numbers from their database.

[davyatsea]

Just had this sent by email yesterday...

Introducing CFO Loans….

 

We have listened to our customers and created a product that better suits their needs.

Consolidate your debts with a CFO Loan of up to £1000 with loan terms up to 36 months.

 

Dear ,

We can now offer you our CFO Loan product that will get you out of default with us, improve your score with Credit Reference Agencies and consolidate your debts with our agreed affordable monthly repayments.

We have reviewed your account and the following figures and benefits have been tailored to you specifically.

1) Reduce your outstanding debt by 50%.

We take your current outstanding balance, including all late interest charges of £966.92and reduce it by 50% to £483.46.

2) We can offer you some extra credit as long as it is affordable.

We can offer you up to £515.00which once approved will be sent by faster payment.

3) Set up payment dates and a monthly amount’s thatyou can afford.

Speak to one of our finance advisors and set up monthly payments that you can afford, and pay us back over 6-36 months.

4) Help get your account out of default with CRA’s.

We will advise the Credit Reference Agencies that we work with that you are no longer in default, which may make applying for credit in the future easier.

To apply for the offer pleaseclick here, complete the short form and we will send you some further information.

Our CFO Loan Product has been designed to assist customers who have been turned down by the mainstream lenders.

Representative Example:

Borrowing £1500 over 24 months, repaying £92.72 per month, total repayable £2225.37. Interest rate 41.16%. Representative 49.9% APR (variable)

Kind regards,

 

Payment Support Manager

CFO LOANS LTD

www.cfoloans.com

Call me old fashioned and cynical, but I reckon this is yet another of their tricks!

[dx100uk]

yep!

 

dx

[Ell-enn]

Yes, because as soon as you apply for the new loan they will take the money they say you owe out of your bank account (because you will have to give them your details), and then decline the further loan - saying they don't think it's affordable.

Don't fall for it !

[Th82]

Thank you silverfox i will write to them and air my complaints and see how far that gets me!

davyatsea- i phoned them about this email (of which i have received a number of them) its actually an offer to get a guarantor loan, ridiculous!