Cahoot Rip Off (merged)

grecian9

mine still says 6.9%...It's pretty much 12 months to the day since I took out the loan too. Will check the rate again next week to see if it's gone up but I've still had no email from Cahoot to warn me of any increase.

Ali_UK

Mine crept up then leapt up. I'm really cross with them.

Abbey won't give me a loan to pay it off (am an Abbey customer, not that it counts for much I know!) and tried a 0% card to transfer it to but got turned down for that too so looks like i've got no option but to try to pay off as big a chunk as I can each month....grrr.....

grecian9

Mine's still 6.9% by the way...no emails or messages indicating any upcoming rise.

xgingerx

Hi I opened my account last feb and has gone from 9 to 14.9% increasing nearly every month. I am at present not in a position to get a new loan for at least another 4 months till me credit file recovers from previous searches.

I cant beleive that they can get away with this as said in previous mail they are milking the cash big time as not all of us are lucky enought to be able to find an alternative that quick

Feel like im getting ripped off and not sure there is anything i can do about it?

dannyboyyyyyyyyy

Cant beliee that CAHOOT have been so unreasonable. Why would I want an Abbey loan instead?? I want no part of them. I will clear this debt asap, it has given me motivation to really work hard clearing £7000 I owe them... ggrrr

OI hope that what goes around comes around...

chimaeric

You can count another mug here who's stuck with the ridiculous interest increase.

glaspole

I've had my reates increased too on my Cahoot products

I have £160 balance on my CC (now 15.9%)
and
£3228 on my FL (Will go to 19.9%)

I'm really eager to move away from this company.

Any Ideas where I should shift the borrowing?

[Deleted User]

LOB card like M&S or intelligent finance, but guess you'll need a mule eg egg money to get the money into the loan account. Alternatively try virgin who should be able to transfer the 0% (but with fee) straight to the loan (as cahoot loans have a unique sort code and account number.

andistar74

while trying to be organised with my other money problems I sent cahoot a letter explaining that I couldn't afford the payments (I was not in arrears with them at all on credit card and loan) and offered them pro rata payments I have had 2 letters now from them asking me to pay the arrears- on the letters they state no arrears!! I have saved the letters for CCCS and national debt line as I don't understand why they are writing to me.

Eupho

glaspole wrote:

I've had my rates increased too on my Cahoot products

my FL (Will go to 19.9%)

I'm really eager to move away from this company.

Me too!.. I had an email about 10 days ago.. HOIKING the % from 14.9% (which had already been creeping up) to 19.9%
My loan with them is for 6500 I seem to have been paying for YEARS .. and its still kicking around that much :mad: :mad:

I called them and asked if they would consider reducing it as I liked Cahoot and didnt really want to pay it off and close it.. (like i even COULD :rolleyes: )

But they said NOPE.. its going UP not DOWN. :mad:

I want to get away from them asap.