CPA (unauthorised/unknown) from The Money Shop

remlangton

I'm messaging here on behalf of my partner who has just had £437 taken from his account which where funds from a compensation claim he won just before christmas.

He found this unknown transaction and rang lloyds who told him it was from The Money Shop. We do have an account in arrears with them but have not received any phonecalls/letters, etc to make us aware of any money to come out.

I've been looking all over and he is pretty clued up also, and we found a few interesting things on the FSA site.

Your bank must refund an unauthorised transaction. Money can only be taken from your account if you have authorised the transaction or your bank can prove you were at fault.

Llloyds TSB told him to ring tomorrow before 8pm to talk to the Dispute team. Is it right that he will get the money refunded?

I've had this happen to my mum with a different bank and she got her money back straight away.

I also read that if you request a CPA to be cancelled they must do it, if you know that previous transactions where unauthorised (this is the 3rd time it's happened with 2 different companies!) can he get the money back? Or is it just money after you cancel the CPA?

Thanks!

life_unexpected_2

I would check the small print on your contract with them as I'm sure if you default on a payment they have it in there that they can go into your account and take any money in there until the loan is paid.

antonic

These people dont care about the origin of the funds they take, just the fact they can take the money that they are owed.

Perhaps the real cause for concern is the fact that your partner needed to take out a PDL ?.

When a PDL is taken you agree to their terms & conditions, which include repaying on the due date, if you choose not to you need to speak to them before the due date to arrange a repayment scheme and not leave it TO the due date.

remlangton wrote: »

I'm messaging here on behalf of my partner who has just had £437 taken from his account which where funds from a compensation claim he won just before christmas.

He found this unknown transaction and rang lloyds who told him it was from The Money Shop. We do have an account in arrears with them but have not received any phonecalls/letters, etc to make us aware of any money to come out.

I've been looking all over and he is pretty clued up also, and we found a few interesting things on the FSA site.



Llloyds TSB told him to ring tomorrow before 8pm to talk to the Dispute team. Is it right that he will get the money refunded?

I've had this happen to my mum with a different bank and she got her money back straight away.

I also read that if you request a CPA to be cancelled they must do it, if you know that previous transactions where unauthorised (this is the 3rd time it's happened with 2 different companies!) can he get the money back? Or is it just money after you cancel the CPA?

Thanks!

FireWyrm

Yes, they CAN do what they have done and you agreed to this in the terms and conditions.

However, the rules have changed since the middle of this year and you can now stop an unauthorised CRA on your account without having to go via the creditor. Contact your bank and tell them you wish to dispute this transaction and you reqire them to refund it immediately. You also require the bank to do one of two things in future :

1) Stop the CRA from happening in the first place, but if they dont have the 'facility' to do this then
2) Refund all further transactions immediately.

Failure to comply with your lawful instructions will result in a formal complaint to the FOS regarding their conduct and you're sure they wont want that...would they...etc.

fermi

Updated OFT guidelines.

http://forums.moneysavingexpert.com/showpost.php?p=57381057&postcount=20

Guidelines are only that, but may be grounds for a complaint to FOS etc if a creditor has disregarded them.