debt collection

magpiecottage

Curr946 wrote: »

Sounds like unfair T&C's so therefore under FSA rules, unenforceable. But getting your money back it unlikely. :eek:

Capital Finance One is not regulated by the FSA but, for the reasons outlined above, I believe the Financial Ombudsman Service is likely to force certain FSA standards on it.


I think NowWhat would also be better off taking this route. In my experience CAG tends to engage the trigger finger before the brain.

If you lose at FOS you can still go to court if you have to but FOS keeps records of who it gets complaints about. If it consistently upholds complaints against a firm on the same or similar issues it reports them to the FSA/OFT as appropriate. (It also reports ambulance chasers to the Ministry of Justice if it finds them misbehaving although it has no jurisdiction over them).

The regulators tend to take a lot more notice of FOS than individual complainants.

KingElvis

ged1980 wrote: »

Do you know why the OP could not keep up payments?

Does everyone know not to give details over the phone without having it in writing?

The OP came for help not your silly remarks

Although I couldn't give a cold dead rat's asss for your opinion you're entitled to it, same as I am.

I really, seriously couldn't care less

fozmcfc

The fax machine in my office where I works, gets spam faxes from debt collecting companies offering their services

By the wording on the faxes, it basically indicates, that they use extremely heavy handed tactics to make debtors pay, including using underhand tactics to make people pay up.

When I read threads about these companies saying one thing and doing another or constant calls or threats of people turning up at the door, I always think back to these faxes. What the OP says about them making silly voices and saying things like refunds we don't give refunds here luv, I can well believe it.

They sound pretty ruthless.

Tubbss

ihateyes wrote: »

Capital Finance One are scum.... cancel that card as lost and get a new one. report the to the OFT as they arent allowed to do this. maybe soon the OFT will be revoking their license!!

Cancelling the card or reporting as lost wont stop them taking payment.

kelsea97

Thanks for your help guys...some of you anyway!! The only worry i have about complaining is who do I complain about. I believe that the debt collectors are actually the same company as Cap Fin One, as that is the name that appears on my bank statement, but yet when i called them they say the debt has been passed on. The refuse to give me any details of the collectors other than a phone number. the collectors refuse to give me any details about themselves, such as there correct company name, and address, so do i just complain about cap finance one?

chanz4

Why do people take these, yes they use agressive tatics to recover but they do say from the start what you will pay.

mightyroyals

Taken from there Terms and conditions

Our Consumer Credit Licence Number is 0623671.
Our Information Commissioner notification number is: Z1577394. We are registered at Companies House under number 06736553


The supervisory authority The Office of Fair Trading


If you have a complaint which remains unsatisfied after you contacted us (by telephone on 0208 166 1470 or email at customer.services@capitalfinanceone.co.uk or mail to Customer Services, Capital Finance One Limited, Copper House, 88 Snakes Lane East, Woodford Green, Essex, IG8 7HX), as we are a member of the British Cheque & Credit Association, you may wish to contact them. If you are not happy with our final response, you have a right to refer your complaint to the Financial Ombudsman Service (FOS), South Quay Plaza, 183 Marsh Wall, London E14 9SR or telephone 08000 234 567 . To do so you would need to notify FOS in writing within 6 months of our final response.

mightyroyals

intresting bit here


Without limiting our rights under clause 1.3, if you fail to pay the Total Amount Payable by the Payment Date, by providing Us with a debit card number You authorise Us until further notice by You and provided we have given You appropriate notice, to take a payment by debiting the Account at any time after the Payment Date, for the payment of the Total Amount Payable together with any default interest. If during this period your payment fails, we may seek to collect a lower payment from You although You will continue to owe Us the remaining balance.

So they say they have to give you notice to take a payment did they give you notice op. Also write to them get everything in writting never talk on the phone. they only hear what they want to hear and will tell you what you want to hear on the phone

mightyroyals

And report them to the OFT for the following

Deceptive and/or unfair methods

f. pressurising debtors to pay in full, in unreasonably large instalments,

CHR15

It could be argued Notice was given upon signing the Terms and Conditions where they stipulate their intention to withdraw any amount up to the amount outstanding.

The overriding message though is not to go anywhere near this type of company in the first place. This is a good example why!

If the OP gets her money back, expect to owe a LOT more over a lot longer. Best to get shot of them asap.