Can Someone PLEASE HELP! LOAN CHARGES!!!!

tillypok

Could someone please tell me if you can get loan charges from Cahoot back.

I have over £500 worth of missed loan payment charges, is this possible to claim back!

I would really appreciate someones help

Thanks

Tilesh

bengal-stripe

I would not risk it, if there is still part of the loan outstanding.
Pay the loan, close the account; then go ahead.

sharmal

I think it realy dependes on how much you have outstanding on your loan. Are your payments up to date. I realy do not see why this would be a problem. I f you got your charges back it would reduce your loan. The loan company can't force yu to pay the rest off just because you have sued them so what have you got to lose.

I am not an expert so please do not rely on my advice

marcellep

I can't see why you should not persue a claim now, people do it when they have a bank account that they still use. If I was in your shoes I would def press on with a claim. You have nothing to lose and everything to gain

oldwiring

marcellep wrote:

I can't see why you should not persue a claim now, people do it when they have a bank account that they still use. If I was in your shoes I would def press on with a claim. You have nothing to lose and everything to gain

NOt sure I would take that advice, having read the genral T&Cs. Although the charges are unlawful at the amounts taken, the OP is a defaulter and the bank's decision to accept late payments is a xoncession. If the profitabilty of the account without the benefit of the charges is insufficient a harsh decision could be taken.

Here are the T&Cs and BTW as Cahoot is an arm of Abbet perhaps that co's attitude, if shown elsewhere in MSE might be and indicator of their genral attitude

http://www.cahoot.com/legal/legal.html

16. Early payment - default

16.1 Subject to our carrying out any procedures required by the Consumer Credit Act 1974, all amounts outstanding under the agreement will be payable on demand if:
1. you fail to comply with your obligations, for example, to make payments on or before they are due;
2. you becomes bankrupt, or has an application made to the court for an interim order for a voluntary arrangement in relation to your affairs, or makes an arrangement or composition with creditors; or,
3. you have given inaccurate, incomplete or untrue information to us in connection with the agreement.

16.2 If you do not make any minimum payment on time, we may try to collect the payment again by Direct Debit within 7 days of the payment date. Interest will continue to be charged until payment is received.

sharmal

I am taking on Cahoot at the moment.See my thread In Court 26th Jan, if you are not sure wait till I post on Friday with the result