Cahoot Loan

happy_chick_3

thanks for the advice lynzpower - the debt was originally £5K so will change the limit straight away.
I've never heard of a 'super balance transfer' though - what is it?
Twllwyd - i'm going to use the calculator now and will do my SOA - I want to get rid of this loan asap!

leon103

Just realised that my loan is with them. ARGHHHHHHH

Its fixed term.

lynzpower

leon - if its fixed, you should be OK- dont panic

happy chick - a superbalance transfer is simply a creditor/ bank that will give you a 0% card ( or low lob card) to take on an overdraft or loan- most wont.

Have a look down the loans board, phoenix79 replied to me- last sunday I think it was.

leon103

lynzpower wrote:

leon - if its fixed, you should be OK- dont panic

happy chick - a superbalance transfer is simply a creditor/ bank that will give you a 0% card ( or low lob card) to take on an overdraft or loan- most wont.

Have a look down the loans board, phoenix79 replied to me- last sunday I think it was.

Thats good to hear. I am going to dig out the T&C on this just to be 100% sure.

TJ27

I had about £3k of debt which was initialy a flexible loan with Cahoot at 0% believe it or not.

Before the end of the loan term, I got myself a 0% credit card, which I bought pretty much everything with. My salary then went into paying off the Cahoot loan. So in effect the debt was transferred from Cahoot to the credit card over a few months.

I then stoozed it and eventually paid all the debt off over a few years.

I have to say, I've banked with Cahoot for about ten years and I've found them to be brilliant. I have a current account, have had loans and also now even have a savings account with them.

chocaholic110

lynzpower wrote:

cahoot habitually put the interest rates up on the flexi loan. I have done a LOT of research into this, spoen to the FSA, trading standards, the lot. it seesm completely legal too. My OH has one that went for 6.9 to 13. odd I think in a space of weeks, every month he would get another email saying its being put up.

My other half had exactly the same happen. Adter the third or fourth time (I know, i'm slow to catch on!) we changed it to an A+L loan which will be paid off in a year -the cahoot loan had been plodding along for years!