Done a lot of investigation into this company myself. I not in the dark about them at all, but yes they are con merchants. As I say I have taken legal advice so we'll wait on the outcome of it all

It certainly sounds extremely dubious. I've been looking into the parent company under which this loan company operates, and some rather disturbing things have come to light.

I'm new to this forum. How do I send you a private message? There are a couple of disclosures I wouldn't want to make in public for fear of, let's say, corporate reprimand.

They have no connection with LLoyds TSB I have checked with the Lloyds Bank who I must add were very helpful. However I have reported the whole thing to the Office of Fair Trading/UK Consumer Direct who have now, I believe, passed this on to the Euroconsumer. I also believe from Consumer Direct that this company is regulated by the Malta Financial Services and that I should contact them as well.

Both the Lloyds TSB and my bank have confirmed that this act was fraud, so I have taken all the steps I have been advised to take including a solicitor.

I have also advised this company of what I have done, but have also confirmed that I am not disputing the money due, but I will not be paying any charges they put on my account and that payment will be made through my solicitor after all investigations have been carried out all of which is on the advice of my solicitor.

Other steps have been taken but I will not bore you with that.

So it will be interesting to see what happens in the investigations.

Awondering, is there any affiliation between Lloyds TSB and Northway as far as you know? If not, how can a US-based holding company for a US Bank pass itself off as UK-based bank to 'recover' money. Surely this is a criminal practice? I take it you are living in the UK still?

The Company is called Northway Financial Corporation who are it seems based in Malta, they trade as Pounds Till Pay Day.

I have spoken with my bank today and they have agreed to give me my money back under the Direct Debit Guarantee because it was an unaothorsed overdraft. This company did go into my bank account as I said using the name "LLoyds TSB" but when my bank looked into the matter it was in small print "Northway Financial Corporation".

My bank have advised me that this is a from of Fraud and that it will be investigated by them, that I should now get in touch with the police and then the company themselves. I have also notified LLoyds TSB at the suggestion of my bank who were also very helpful indeed in double checking that they were not a company they used i.e. a debt recovery company - but they have no record of them.

I have investigated this company a few time over the past few weeks hence my hurry to get shot of them. I have notified them that I am cancelling my contract with them, that the money owed will be paid and that if I should receive any communication by way of harrassment from them either at work or at home or indeed by any form of communication I will without hesitation notify the police anytime it happens. I have also taken some advice and will be notify the Office of Fair Trading and the Financial Ombudsmen, also if they make any attempt to contact me by as I said way of harrassment they are in breach of the Data Protection Act. To sum it all up I will not be running away from paying this money but I will take all necessary steps to ensure that I am not harrased in any way or my bank account misused.

The amount I have paid by way of interest would probably pay this £450 I owe several time.

I suspect the 'different company' you refer to is probably a subsidiary of the holding company that gave you the loan. Try googling this company and see who it is. This kind of tactic is not unlawful, although I personally think it is certainly unethical. Who is the loan company? Name and shame them.

The lesson here is that when you cancel a DD you need to do so in writing, and include the wording 'and any subsidiary company associated with the (Company you have your loan with)' and keep a copy to protect yourself. And always read the small print.

Good luck with the bank charges. If the loan company has not acted unlawfully, then it will be down to you.

That's the thing I did advise them what I was doing and again when they phone regarding the cancelled direct debit. I will be taking it up with my bank regarding the non authorisation of a direct debit but like you find it all very strange especially as the money has come out my account using a different company.

Wondering if the bank are responsible for bank charges I will have accrued as a result of this unauthorised direct debit - surely

Why didn't you tell your loan company what you were doing before you cancelled the DD. This looks very strange, I don't understand how your bank could have authorised this, unless you did unwittingly when you sighed up for the loan. Did you read all the small print? You need to contact your bank and ask them why they paid this DD after you aparently cancelled it. Then you need to call the loan company and ask them for a final settlement figure.

Hi - I recently cancelled a direct debit for a loan which I have as it was my intention to pay the whole amount off. The cancellation went through and I received a call from the company advising me they had received notificatoin the direct debit was cancelled - I explained what I was doing regarding the pay off.

Now today after checking my bank account the company have gone in under a different name and taken the amount off. I presume it to be the same company as it is for the correct monthly amount.

I have not authorised a direct debit - this is also left me being overdrawn in my bank account. What is my position regarding this - is this a bank problem as they have issued money to a company without my authorisation?

What steps should I take to claw back this money.