cahoot flexible loan withdrawn

Murphy_The_Cat

I got a nice email from Cahoot today, advising me that as I had not used my Cahoot Flexible Loan for over 12 months, they were withdrawing the facilty (as per their therms and conditions).

The flexible loan was only ever a 'rainy day' thing for me, but for someone else, it may be worth borrowing a £5 for a couple of days (or whatever the minimum amount is) just to keep the facility active.

MTC

p.s. i don't come to 'loans' often and I did a quick search before posting this. if this is old or duplicated advice, please delete / ignore.

mrcow

Hi Murphy,

This has happen to a few members over the summer. They've either had the facilty withdrawn or reduced to their outstanding balance, so you are not alone.

I think it was detemined that it perhaps had something to do with Cahoot limiting their liabilities (ie redundant loan agreements etc).

Have they actually closed your account, or just reduced your loan limit figure to £0 for which a request can be submitted for an increase if/when required? (as my Cahoot loan was a pain to set up with all the ID required etc and I only use it very rarely these days?).

Murphy_The_Cat

Hi Mr Cow

This is from the email that they sent to me.

Dear Mr Cat

We are writing to advise you that as you have not used your flexible loan for a
year,
the account has been closed.

The closure is no reflection on you or the way you have managed your flexible
loan,
but simply a standard condition of the account*.

This email is for your information only and we require no further action from
you.

cahoot no longer offers loan accounts so if you need to borrow more money, as
cahoot
is a trading division of Abbey, they may be able to help. Please go to Abbey.com
for
all the information you need.

yours - the Cahooties

so it sounds like it's long gone

MTC