CFO Lending Do I have a claim?

para_para_paradice

Hi Everyone,

I got into financial difficulties in 2010/11 and turned to cfo lending, who i have emailed for a statement of what i paid, i see that some other members of the board have been able to claim some money back, i will upload my borrowing if someone could advise me i would really appreciate it.

para_para_paradice

Statement of transactions

Client Reference Number: 36993

Date Generated: 29/10/2015

Agreement No: 36534

Created Message Debit Credit Account Balance

27/08/2010 Principal £80.00 £80.00

27/08/2010 Interest £24.00 £104.00

10/09/2010 Payment -£24.00 £80.00

10/09/2010 Payment -£80.00 £0.00

Agreement No: 38747

Created Message Debit Credit Account Balance

15/09/2010 Principal £175.00 £175.00

15/09/2010 Interest £63.00 £238.00

08/10/2010 Payment -£63.00 £175.00

08/10/2010 Payment -£175.00 £0.00

Agreement No: 41658

Created Message Debit Credit Account Balance

08/10/2010 Principal £350.00 £350.00

08/10/2010 Interest £136.50 £486.50

05/11/2010 Payment -£136.50 £350.00

05/11/2010 Payment -£350.00 £0.00

Agreement No: 44121

Created Message Debit Credit Account Balance

08/11/2010 Principal £450.00 £450.00

08/11/2010 Interest £175.50 £625.50

03/12/2010 Payment -£175.50 £450.00

03/12/2010 Late Fee £25.00 £475.00

04/12/2010 Payment -£25.00 £450.00

16/12/2010 Renewal Interest £175.50 £625.50

31/12/2010 Payment -£175.50 £450.00

31/12/2010 Payment -£450.00 £0.00

Agreement No: 52160

Created Message Debit Credit Account Balance

31/12/2010 Principal £600.00 £600.00

31/12/2010 Interest £234.00 £834.00

28/01/2011 Deferral Payment -£234.00 £600.00

28/01/2011 Renewal Interest £234.00 £834.00

25/02/2011 Late Fee £25.00 £859.00

01/03/2011 Payment -£25.00 £834.00

02/03/2011 Late Interest Fee £25.00 £859.00

06/03/2011 Late Interest Fee £25.00 £884.00

09/03/2011 Payment -£25.00 £859.00

09/03/2011 Payment -£25.00 £834.00

10/03/2011 Late Interest Fee £234.00 £1,068.00

11/03/2011 Payment -£234.00 £834.00

16/03/2011 Payment -£366.00 £468.00

16/03/2011 Payment -£234.00 £234.00

16/03/2011 Balalnce W/O -£234.00 £0.00

para_para_paradice

They were paid back in full for what they wanted

[Deleted User]

What's your reason for wanting to claim money back?

Gaz83

On what grounds do you believe you may be able to claim some money back?

You asked for a loan, were given it, and paid it back. What's the problem?

jonesMUFCforever

''My mate down the pub'' type of financial advice would be my guess.

SnowTiger

If they haven't contacted you to offer some compo you may have to contact them.

But you'll have to be specific about what you expect and why.

It appears they did have problems. This might help: https://www.fca.org.uk/your-fca/documents/requirement-notices/cfo-lending-limited-vreq.

para_para_paradice

This is what i have sent them i may be completely wrong, and it's a poorly worded email but I've fired it off and we'll see what happens, I had heard they were not allowed to charge late fees and charges for transferring you the money, perhaps i'm wrong just wondered if anyone had similar dealing or knew.

____________________________________________________________________

I believe and have been advised the late fees that I was billed with were unlawful as well as the £15 bank transfer fees. I have listed them below, they total £334 and i would like this money back as it was unlawful i shall give you until Friday of next week to email me back or I shall be taking this to the ombudsman.

Added to this are 5 x £15 bank transfer fees (£75), that i have also been advised were unlawful.

Thanks

Simon

03/12/2010 Late Fee £25.00
25/02/2011 Late Fee £25.00
02/03/2011 Late Interest Fee £25.00
06/03/2011 Late Interest Fee £25.00
10/03/2011 Late Interest Fee £234.00

boo_star

para_para_paradice wrote: »

This is what i have sent them i may be completely wrong, and it's a poorly worded email but I've fired it off and we'll see what happens, I had heard they were not allowed to charge late fees and charges for transferring you the money, perhaps i'm wrong just wondered if anyone had similar dealing or knew.

____________________________________________________________________

I believe and have been advised the late fees that I was billed with were unlawful as well as the £15 bank transfer fees. I have listed them below, they total £334 and i would like this money back as it was unlawful i shall give you until Friday of next week to email me back or I shall be taking this to the ombudsman.

Added to this are 5 x £15 bank transfer fees (£75), that i have also been advised were unlawful.

Thanks

Simon

03/12/2010 Late Fee £25.00
25/02/2011 Late Fee £25.00
02/03/2011 Late Interest Fee £25.00
06/03/2011 Late Interest Fee £25.00
10/03/2011 Late Interest Fee £234.00

I can't see this email helping you for a couple of reasons;

1) Late payment fees aren't inherently unlawful. I'm not sure what law you're basing it off and neither will the loan company. You should cite which law they've broken to really get anywhere.

Are you thinking about £12 late fees for credit cards? If so, it wasn't due to a law and only applies to credit cards. It was an agreement between the OFT and CC companies to not investigate late payment charges unless they exceeded £12.

2) Somwhat as above but where, in law, is charging for a bank transfer illegal? You didn't specify this either.

You may want to do some research on the legality of the charges and email them back with citations.

Gaz83

para_para_paradice wrote: »

This is what i have sent them i may be completely wrong, and it's a poorly worded email but I've fired it off and we'll see what happens, I had heard they were not allowed to charge late fees and charges for transferring you the money, perhaps i'm wrong just wondered if anyone had similar dealing or knew.

____________________________________________________________________

I believe and have been advised the late fees that I was billed with were unlawful as well as the £15 bank transfer fees. I have listed them below, they total £334 and i would like this money back as it was unlawful i shall give you until Friday of next week to email me back or I shall be taking this to the ombudsman.

Added to this are 5 x £15 bank transfer fees (£75), that i have also been advised were unlawful.

Thanks

Simon

03/12/2010 Late Fee £25.00
25/02/2011 Late Fee £25.00
02/03/2011 Late Interest Fee £25.00
06/03/2011 Late Interest Fee £25.00
10/03/2011 Late Interest Fee £234.00

What law do you think they have broken? And who has advised you of this?

DevCoder

Also, you have to follow their complains procedure. The ombudsman won't be interested or take your case up until you do this. Giving them a "week" is probably not in their complaints procedure timescales.