Cahoot/Santander Flexi-Loan - statement error

Cell

Hi

For those who had a Cahoot Flexi-Loan, now administered by Santander there is an error on my three page May statement. Although the back page shows the correct balance after the direct debit and interest listing the front page has ignored the payment, meaning that the balance has actually gone up.

The minimum payment is also based on this amount, it seems, not that that in itself is a particular issue for me.

I called them and the representative said that he'd had another call about this half an hour beforehand. It seems that there may have been an error on some of the Cahoot direct debit information.

They promised to write within five days, but I'm posting this to warn people to check the statement carefully.

I'll post back as and when I hear anything as there may of course be a slight interest error as well if it's been calculated on the wrong figure.

I'd obviously be interested to hear of anyone else who has noticed the same issue.

Cheers!

chrismull82

Cell wrote: »

Hi

For those who had a Cahoot Flexi-Loan, now administered by Santander there is an error on my three page May statement. Although the back page shows the correct balance after the direct debit and interest listing the front page has ignored the payment, meaning that the balance has actually gone up.

The minimum payment is also based on this amount, it seems, not that that in itself is a particular issue for me.

I called them and the representative said that he'd had another call about this half an hour beforehand. It seems that there may have been an error on some of the Cahoot direct debit information.

They promised to write within five days, but I'm posting this to warn people to check the statement carefully.

I'll post back as and when I hear anything as there may of course be a slight interest error as well if it's been calculated on the wrong figure.

I'd obviously be interested to hear of anyone else who has noticed the same issue.

Cheers!

Hi, the same has happened to me. I've had a number of problems with Santander about this loan over the last 12 months and even taken them to the FOS.

Seems the problems are back though as my May statement says the same as your. The back page is fine but the front page has gone up.

Have you heard anything?

chrismull82

As an update on this I just called Santander. It appears that the direct debits got stuck last month when taking payment.

All payments have been taken and the girl said that next months statement will show the correct balance and the monthly payment will be reduced accordingly.

Over 1000 people have been affected by the issue she said.

Cell

Thanks for the update .