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RBS / Santander and Cahoot on DMP
DevonGirl
Posts: 433 Forumite
Hello
Just saw a similar thread about RBS, but didn't want to hijack it, so thought I'd start a new thread.
I am on a DMP, over 2 years now, going fairly smoothly, about another 5 years to go. One of my creditors is Cahoot, to whom I owe £800. My basic bank account is with RBS which I opened as I didn't owe any money to RBS. In 12-18 months time my RBS branch will be taken over by Santander, who I understand took over Abbey and presumably their internet bank, Cahoot. How quickly will it take for them to make the connections? Do you think I should switch banks to avoid them using the power of offsetting?
Second question would be, with a prevailing wind, underspending on groceries etc and a lot of E-baying, I might be able to raise a few hundred £s to offer a F&F offer to Cahoot before the 12 months is up - does anyone have any experience of this with Cahoot please? What sort of % figure did they accept?
Many thanks for any advice offered.
Just saw a similar thread about RBS, but didn't want to hijack it, so thought I'd start a new thread.
I am on a DMP, over 2 years now, going fairly smoothly, about another 5 years to go. One of my creditors is Cahoot, to whom I owe £800. My basic bank account is with RBS which I opened as I didn't owe any money to RBS. In 12-18 months time my RBS branch will be taken over by Santander, who I understand took over Abbey and presumably their internet bank, Cahoot. How quickly will it take for them to make the connections? Do you think I should switch banks to avoid them using the power of offsetting?
Second question would be, with a prevailing wind, underspending on groceries etc and a lot of E-baying, I might be able to raise a few hundred £s to offer a F&F offer to Cahoot before the 12 months is up - does anyone have any experience of this with Cahoot please? What sort of % figure did they accept?
Many thanks for any advice offered.
LBM - March 2009, DMP Start - April 2009
DMP Mutual Support Thread Member 297
(Don't forget to click on 'Thanks'! Thanks!)
DMP Mutual Support Thread Member 297
(Don't forget to click on 'Thanks'! Thanks!)
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Comments
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Bumpty bump?! LBM - March 2009, DMP Start - April 2009
DMP Mutual Support Thread Member 297
(Don't forget to click on 'Thanks'! Thanks!)0 -
Bump bump??
Thank you!LBM - March 2009, DMP Start - April 2009
DMP Mutual Support Thread Member 297
(Don't forget to click on 'Thanks'! Thanks!)0 -
Interesting question. Tbh im not 100% sure- could you have cleared the £800 in 12-18 months?
- DFD 4th July 2015
- MFD 1st October 2021
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Thanks for your reply. No, I couldn't clear the £800 even being very careful as I'm on a DMP so all my expenditure is down to the bone already. I could maybe sell bits and pieces and get together say £300 which I wondered if I could present to Cahoot as a full & final offer. Say the limit is down to £750 by the time I'm in a position to do this, this would be a 40% offer which may or may not be enough to settle the debt.LBM - March 2009, DMP Start - April 2009
DMP Mutual Support Thread Member 297
(Don't forget to click on 'Thanks'! Thanks!)0
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