DEBIT MY MONEY AND NO DELIVERY OF GOODS!!!!!!

I app**** for an iPhone 8 plus telephonically, last week Friday and it was approved. they then proceeded to debit the upfront payment on Tuesday for the phone. I called today to check the status of the order and I was told that the phones are out of stock and they will escalate it. Why take my money for a phone that is out of stock? Ref No: ********** 41A