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  • FIRST POST
    • demi60
    • By demi60 9th Apr 17, 3:11 PM
    • 17Posts
    • 4Thanks
    demi60
    Old Cahoot Flexi-Loan
    • #1
    • 9th Apr 17, 3:11 PM
    Old Cahoot Flexi-Loan 9th Apr 17 at 3:11 PM
    Hello everyone.

    I'm finally getting round to paying off my Flexi-loan. I took out a Cahoot Flexi-loan in 2002 and was paying monthly until I was taken through a Family Law court case from February 2007.

    First, my old flexi loan from Cahoot is in default with now Santander. I have not paid this loan for over 10 years. I stopped when I was taken to court and supplied Cahoot with evidence on what was going on and my ability to pay was severely affected by this court case. It has taken me 10 years to be free of legal debts and rent/council tax arrears.
    The statements stopped for a couple of years and for the last 3 years I have been receiving statements from Santander but no request to pay. I’ve also had no debt collectors requests to pay this loan. Is this loan still enforceable?

    1. After a long time who do I deal with at Santander? Should I make a request to try and get a full and final offer to settle? as I haven't found the original Credit agreement.
    2. I've looked at my credit reports from Experian and Equifax. This debt is not on any report. Why? Is there another credit report agency I should look at? Thank you, your advice is appreciated.
    Last edited by demi60; 09-04-2017 at 3:17 PM. Reason: Font size
Page 1
    • sourcrates
    • By sourcrates 12th Apr 17, 12:09 AM
    • 11,935 Posts
    • 11,419 Thanks
    sourcrates
    • #2
    • 12th Apr 17, 12:09 AM
    • #2
    • 12th Apr 17, 12:09 AM
    Hi,

    Limitations act 1980, have you not heard of it ?

    After any period of 6 years with no payment or written acknowledgement by you, the debt will be statute barred, they know that, but are still obligated to send you statements.

    Details here :

    https://www.nationaldebtline.org/EW/factsheets/Pages/time-limits-for-recovering-debts/statute-barred-debt.aspx

    This means they cannot take legal action to recover the debt.
    Last edited by sourcrates; 12-04-2017 at 12:12 AM.
    I'm a Board Guide on the Debt-Free Wannabe, Credit File And Ratings, and
    Bankruptcy And Living With It, boards. I'm a volunteer to help the boards run smoothly, and I can move and merge posts there.
    Board guides are not moderators and don't read every post. If you spot an abusive or illegal post then please report it to forumteam@moneysavingexpert.com. Any views are mine and not the official line of MoneySavingExpert.com.

    For free debt advice, contact either : Stepchange, National Debtline, or, CAB.
    For Legal advice see : http://legalbeagles.info/
    • Biddyspence
    • By Biddyspence 15th Sep 17, 1:17 PM
    • 1 Posts
    • 0 Thanks
    Biddyspence
    • #3
    • 15th Sep 17, 1:17 PM
    Cahoot Flexi Loan
    • #3
    • 15th Sep 17, 1:17 PM
    Hi Everyone, wanted to ask the forum if they had any advice as I have been paying my loan since 2004. I attempted to write several times and explained the hike in interest rates.


    However the letter received today 15/09/2017 says:


    1. What I am complaining about is more than 6 years ago as the interest rates started in April 2004 at 9.93% and moved up to August 2008 when they settled at 20% and remain on the same rate since. They say I agreed to the rates but not sure I would agreed to constant rate changes.


    2. That I am complaining more than 3 years after I realised or should have realised there was a problem.


    3. As I raised no exceptional circumstances as to why I am late with this complaint then they wont accept it as they believe its outside of the time limits.

    Not sure if its me, but if my account is still active should that make a difference legally? Not sure if its a way to avoid settling anything with me, but I am happy to agree I was slow off the mark but see no reason why my case is treated differently to others that have been successful. I still 13 years on owe £1.5k.


    Any advise welcomed on what my next step should be as they suggest the Ombudsman.
    • sourcrates
    • By sourcrates 15th Sep 17, 1:22 PM
    • 11,935 Posts
    • 11,419 Thanks
    sourcrates
    • #4
    • 15th Sep 17, 1:22 PM
    • #4
    • 15th Sep 17, 1:22 PM
    Hi,

    Unfortunately they are correct, they are just stating the FOS guidelines applicable to complaints of this nature.

    The FOS would probably come to the same conclusion, you must complain within 3 years of realizing there was a problem, anything that happened longer than 6 years ago will be time barred.
    I'm a Board Guide on the Debt-Free Wannabe, Credit File And Ratings, and
    Bankruptcy And Living With It, boards. I'm a volunteer to help the boards run smoothly, and I can move and merge posts there.
    Board guides are not moderators and don't read every post. If you spot an abusive or illegal post then please report it to forumteam@moneysavingexpert.com. Any views are mine and not the official line of MoneySavingExpert.com.

    For free debt advice, contact either : Stepchange, National Debtline, or, CAB.
    For Legal advice see : http://legalbeagles.info/
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