Cahoot Loan problems

danamura

I phoned them a few weeks ago and was told I would receive a statement 16 days before my next payment which should've been last week. Still hadn't received anything so phoned again yesterday and was told there's been a delay in getting them out and they should be dispatched today or tomorrow.

Not holding my breath though! The whole situation's a farce!

interbear

I have a Cahoot loan, debited 27th of every month. I've had no communication or relationship with Santander at all, until a letter arrived this week advising me that due to an error on their part, they had not collected my loan payment on 27th March and that they would be doing so on 23rd April. Also that my credit rating would be unaffected by this missed payment.

My initial reaction - why are Santander writing to me about a loan I don't have with them? I called them yesterday and was advised that my Cahoot loan was now with Santander. Would have been nice to have been told that before now! I checked by bank and the payment on 27th March had indeed been missed. Not a problem they said, they would be taking that payment on 23rd April. Great - now I have to make sure I have the funds available to actually pay it, having assumed it had been debited at the end of March.

So - my first experience of Santander - not a good one.



I

thebobs

The saga continues........

Ok so Tuesday I got another letter from Santander saying that my loan payment for this month could not be collected, after I was assured by them last month that there would be no more problems.

When I finally got through to them on the phone I was told that although I had paid last months manually their system did recognise that I had paid so this month they would take 2 no payments to cover March and April, even though I had already paid March. This gets worse as it works out both payments would come out on the same day.

Once both payments had come out I then have to go into the branch and reclaim 1 payment which can take 10 working days! :mad:

When I asked what kind of compensation they were offering customers for the inconvienience she said they were saying sorry.......................don't think thats going to cut it with me grrrrr

Becles

finley909 wrote: »

The sage continues....

Has anyone actually received a statement from these clowns yet?

I rang them up as I used to get a statement around the 14-15th and the payment is taken around the 26th-28th. I haven't had a paper statement yet.

The lady said there has been a problem with the statements and I should get one eventually but she didn't know when. She told me the payment will still be debited around the 26th.

milliemonster

Well my payment is due to come out tomorrow, I have phoned Santander as I haven't had a statement, they told me there have been teething problems and delays to getting out statements, no customer will get a statement this month but it should be sorted for next month. Statements will be due out 15 days before payment is due.

They also told me that there will be no late charges or late payment markers applied to my account should the payment not be called for tomorrow.

So I will check my online banking tomorrow and see what happens

finley909

finley909 wrote: »

The sage continues....

Has anyone actually received a statement from these clowns yet?

Just realised I wrote sage instead of saga...maybe I was hungry...

This seems quite worrying that even manual payments have not been recognised. To me, it seems the only way the customer will be put at ease is by way of issuing a paper statement to show payments are being made, however, not one has gone out yet and it appears we won't get one until next month (at the earliest).

You'd think with the numerous !!!!-ups at their end , that they would put something in place to reassure their customers.

Running_Horse

finley909 wrote: »

This is quite worrying. How is a bank as large as Santander able to get away with this kind of behaviour?

Has anybody had a postal statement from these guys yet? Just wondering how we're expected to manage the loan. Surely we're not expected to call up every now and then to check on it !

My wife has not received a postal statement yet. When she phoned asking for the balance, she was given a figure £400 higher than expected. The person on the phone said they are unable to access previous statements. So she has had to ask to access her previous records as well as repeat (again) her request for a written statement.

It's a good job we are paying this down and will be free in a few months. But it does not inspire confidence for a couple of other accounts transferred to Santander. Time to start looking elsewhere for financial services.

interbear

interbear wrote: »

I have a Cahoot loan, debited 27th of every month. I've had no communication or relationship with Santander at all, until a letter arrived this week advising me that due to an error on their part, they had not collected my loan payment on 27th March and that they would be doing so on 23rd April. Also that my credit rating would be unaffected by this missed payment.

My initial reaction - why are Santander writing to me about a loan I don't have with them? I called them yesterday and was advised that my Cahoot loan was now with Santander. Would have been nice to have been told that before now! I checked by bank and the payment on 27th March had indeed been missed. Not a problem they said, they would be taking that payment on 23rd April. Great - now I have to make sure I have the funds available to actually pay it, having assumed it had been debited at the end of March.

So - my first experience of Santander - not a good one.

Santander are clearly incompetent.

After the above, I got home last night to find another letter, this time from the collections agency advising that this was the 2nd notification of a missed payment, that my loan was in arrears, clearly implying that I was at fault, requesting that I contact them to make payment immediately and referring me to advisors who could help if I was in financial difficulties.

I have never missed a payment in my life, on any credit agreement. Santander are at fault for not transacting my Cahoot loan direct debit in March, not me. And in fact it got paid today via the rescheduled direct debit. So, I called the collections department who reiterated the letter content. Eventually they apologised and told me that BOTH letters were sent in error. They verbally confirmed that it would not impact my credit file/rating. I insisted this be confirmed in writing - "no, we can't do that, you have to talk to customer services". I got the number and called customer services....."no, we can't do that, you need to talk to collections".....aaargh.....

What a shower of incompetents. Totally unacceptable level of service and I will not deal with Santander again for any financial product :mad:

I am awaiting a call from the customer service dept to tell me whether they can or can not give me written confirmation that (i) the missed payment is their error, not mine and that (ii) my credit file is not impacted.

luxor4t

luxor4t wrote: »

It's not over yet!

First letter dated 3rd April

Reached us by second class mail on 12th April Amount paid by phone 13th April

Sorted: well, we thought so!

Reminder arrived 20th April.... dated 12th April :mad:

I'm busy number-crunching to see if we can get rid of the loan asap (12 payments left) as it seem from some posts that this is a farce that will run & run....

Really, truly hope they don't take double payment this month - DH has paid by phone for the 'missed' March payment !

Running_Horse

finley909 wrote: »

If you type "Cahoot Loan" into Google, this board comes up 4th - it's pretty easy to gain a bad reputation online.
I urge all posters on this board to include the words 'Cahoot', 'Santander' and a negative adjective of your choice in all posts from now on. This does wonders for their online image!

After Santander messed up my wife's Cahoot Loan I closed my A&L savings account which has just been taken over by Santander, as a protest at the way Santander have handled her Cahoot Loan.