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    • phutchinson
    • By phutchinson 14th Jul 17, 4:04 PM
    • 4Posts
    • 0Thanks
    phutchinson
    Advice Needed: Cahoot and Default (unfair bankcharges)
    • #1
    • 14th Jul 17, 4:04 PM
    Advice Needed: Cahoot and Default (unfair bankcharges) 14th Jul 17 at 4:04 PM
    Hello All,

    I'm a lurker looking for advice. At the end of 2014 (due to my husband being out of work) we went over our £500 overdraft limited with Cahoot. The overdraft charges started going on and account went from: Oct 14: £497 November: £775 December: £1,285 to finally January 15: £1,601 (where it has remained). My husband picked back up of work from end of 15 and now we are financially stable.

    Now, I'm happy to pay the £500 overdraft - but I'm really not happy to pay the excess of theses charges - and at the time we did inform the bank we were in financial difficulty: Infact, the over excessive charges on this account (with direct debits etc) actually caused some of the hardship.

    So now its 2017 - I've been trying to gain access to all my statements to write a letter (thats been with great difficulty, cahoot rejected the first letter and have moved mid the second letter being sent). All the while I have a default on our credit scores.

    As we are currently looking to move house, what in your opinion would be the best plan of action? Should we offer to pay the £500? or should we place a note on our credit file and fight the charges (I think we could be owed a few £k)...

    Whats the best plan if we are looking to move ASAP?

    Any advice greatly appreciated.
Page 1
    • zx81
    • By zx81 14th Jul 17, 5:16 PM
    • 13,141 Posts
    • 13,440 Thanks
    zx81
    • #2
    • 14th Jul 17, 5:16 PM
    • #2
    • 14th Jul 17, 5:16 PM
    Pay the lot.
    • Nebulous2
    • By Nebulous2 14th Jul 17, 6:36 PM
    • 1,563 Posts
    • 950 Thanks
    Nebulous2
    • #3
    • 14th Jul 17, 6:36 PM
    • #3
    • 14th Jul 17, 6:36 PM
    It's hard to show that the charges caused hardship if you didn't pay them.

    I think you have a mountain to climb to get a mortgage while this situation is unresolved and would agree with ZX81. Pay it off to get itr marked as settled, which wouldn't stop you continuing to pursue a complaint.

    a subject access request (SAR) will cost you £10 and will get you all the information they hold on you, which should include the statements.
    • Moneybutterfly
    • By Moneybutterfly 14th Jul 17, 6:41 PM
    • 14 Posts
    • 38 Thanks
    Moneybutterfly
    • #4
    • 14th Jul 17, 6:41 PM
    • #4
    • 14th Jul 17, 6:41 PM
    What about complaining to the financial ombudsmen ? It worked out for me.
    • phutchinson
    • By phutchinson 14th Jul 17, 10:28 PM
    • 4 Posts
    • 0 Thanks
    phutchinson
    • #5
    • 14th Jul 17, 10:28 PM
    • #5
    • 14th Jul 17, 10:28 PM
    Hey, I'm unwilling to pay £1000 in charges, especially when they placed them on over 4 months. I think thats unreasonable [so £250per month]. I've sent away for all the statements and considering contacting the financial ombudsmen. Moneybutterfly did you have a similar situation?
    • phutchinson
    • By phutchinson 14th Jul 17, 10:31 PM
    • 4 Posts
    • 0 Thanks
    phutchinson
    • #6
    • 14th Jul 17, 10:31 PM
    • #6
    • 14th Jul 17, 10:31 PM
    Also - if I pay it, can I then pursue it? And would it remain as a default?
    • forgotmyname
    • By forgotmyname 15th Jul 17, 2:10 AM
    • 25,659 Posts
    • 10,200 Thanks
    forgotmyname
    • #7
    • 15th Jul 17, 2:10 AM
    • #7
    • 15th Jul 17, 2:10 AM
    It will still remain as a default. Its just currently unsettled. When you pay, it should be marked as settled which is better if your intending on borrowing before its wiped from your credit file in 6 years.
    Punctuation, Spelling and Grammar will be used sparingly. Due to rising costs of inflation.

    My contribution to MSE. Other contributions will only be used if they cost me nothing.

    Due to me being a tight git.
    • meer53
    • By meer53 15th Jul 17, 2:44 PM
    • 8,822 Posts
    • 12,801 Thanks
    meer53
    • #8
    • 15th Jul 17, 2:44 PM
    • #8
    • 15th Jul 17, 2:44 PM
    What did they say when you told them you were in financial hardship ? Banks usually offer to freeze charges for a while once they're aware of this. Did they do it for you ?

    The banks won the unfair bank charges court case in 2009 so i wouldn't mention that if i were you.
    • phutchinson
    • By phutchinson 16th Jul 17, 10:38 AM
    • 4 Posts
    • 0 Thanks
    phutchinson
    • #9
    • 16th Jul 17, 10:38 AM
    • #9
    • 16th Jul 17, 10:38 AM
    Hey,

    Thanks for all the advice - they were not very helpful when we called them, said they couldn't do anything. I'm going to phone and pay them tomorrow - and ask for the default to be removed. Once I do this, I'll tackle unfair bank charges.

    Wish me luck! Thanks again
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