Fraud by Payday Loan Company??

lnasr

Hi all

I'm not sure if this is the right board to ask this question on but I was looking for some advice and your thoughts on something that has happened which I think is potentially fraud commited by a payday loan company.


I got a payday loan a couple of months ago with a company called CFO Lending (silly I know!) and I had all the intentions of paying it back in full the following month but due to unforeseen circumstances I couldnt, so I paid the interest and some of it off. However at the time of payment I did not have my bank card as I was waiting to receive a replacement card in the post from Lloyds, so I had to transfer the money to my sisters account and pay using her card to avoid late payment fees.

So...a month on and my payment was due yesterday - I tried to call them numerous times as I wanted to discuss my payment options with them (plus inform them on my new bank details and mobile number) as I knew not all the funds were available in my bank. After waiting over 30 minutes on the phone twice I decided I would leave it and try again the following day. However my sister has just informed me that they have taken the money out of her account! Surely this is fraud??? They had not spoken to me or her, she does not have an account with them and they had no permission to take money from her account??

What steps do you advise that I take next on this matter?

Thanks all!

R_P_W

What does it say in the terms and conditions?

At a guess probably something about a continuous payment authority from account details you provide.

It isn't fraud.

matttye

R_P_W wrote: »

What does it say in the terms and conditions?

At a guess probably something about a continuous payment authority from account details you provide.

It isn't fraud.

http://www.cfolending.com/termsandconditions.aspx

It doesn't say anything about that in the terms that I can see. Admittedly I haven't read them word for word though.

[Deleted User]

lnasr wrote: »

Hi all

What steps do you advise that I take next on this matter?

1 be glad that payment was made, thus saving you money
2 pay your sister back as soon as you can
3 don't take any more PDLs

Apples2

Be glad it's over,

Stop taking out loans you know you can't repay (please don't kid us with tales of sudden job loss or other concocted unforseen circumstances, we aren't the lenders)

Tell your sister to join here so we can educate her on the grave mistake she made by listening to you. This may not be the end of it for her. There are steps she needs to take to stop you dragging her down to your level of money management

opinions4u

It's amazing how many people take out a PDL and then have unforeseen circumstances.

matttye

Apples2 wrote: »

Be glad it's over,

Stop taking out loans you know you can't repay (please don't kid us with tales of sudden job loss or other concocted unforseen circumstances, we aren't the lenders)

Tell your sister to join here so we can educate her on the grave mistake she made by listening to you. This may not be the end of it for her. There are steps she needs to take to stop you dragging her down to your level of money management

opinions4u wrote: »

It's amazing how many people take out a PDL and then have unforeseen circumstances.

It's not beyond the realms of possibility.

Why not give the guy the benefit of the doubt. None of us KNOW whether he had unforeseen circumstances or not, so it's daft to assume he's lying.

IMO it's best to answer posts based on the information within them, unless more info is required.

Being judgemental doesn't help anybody.

Good_Goose

Some threads on here make my day a little bit more enjoyable.

This is one of them

ampafc

Apples2 wrote: »

Be glad it's over,

Stop taking out loans you know you can't repay (please don't kid us with tales of sudden job loss or other concocted unforseen circumstances, we aren't the lenders)

Tell your sister to join here so we can educate her on the grave mistake she made by listening to you. This may not be the end of it for her. There are steps she needs to take to stop you dragging her down to your level of money management

As harsh as it may sound, Apples is absoloutely correct here. Learn your lesson about taking out loans you clearly can't afford, pay your sister back, and never take out one of these loans again.

opinions4u

matttye wrote: »

It's not beyond the realms of possibility.

Why not give the guy the benefit of the doubt. None of us KNOW whether he had unforeseen circumstances or not, so it's daft to assume he's lying.

IMO it's best to answer posts based on the information within them, unless more info is required.

Being judgemental doesn't help anybody.

I've judged nobody.

There just seems to be a statistical anomaly that is more likely to affect PDL customers.

sefton

Deleted_User wrote: »

1 be glad that payment was made, thus saving you money
2 pay your sister back as soon as you can
3 don't take any more PDLs

Best advice