Santander are now refunding interest payments on Cahoot flexible loan's

Cell

emmapurple wrote: »

Wensleydaleuk, it was after santander took over that i paid it off. When i asked for my statements they sent them with a line through from march 2010 saying this was when the account migrated to santander. The interest rises started well before this though so i dont know how that would affect you if you paid it off before march 2010? i would imagine that does make it a little more complicated.

According to my full history on NODDLE I stopped being able to withdraw from the account the account in early 2010. The credit limit was reduced in February 2010 to an odd figure which was just above my balance at the time.

The interest rate rises started long before this though.

If nothing else the interest rate no longer reflected a flexible loan from then, and if Santander are being consistent (lol) they can't have it both ways and a refund of interest should apply at the very least from early 2010. In my case, reducing the rate by half, that would mean a refund of over £1000.

emmapurple

I presume thats what they are trying to do, create a clear line of time as to when they can be held accountable although we all know they have paid good will gestures from a lot further back than 2010 so im not sure what they think that will acheive. Again we all know the interest started going up alot earlier than that anyway but the credit did lower at the time the line is drawn, but i vaguely remember getting statements from santander a lot earlier than that maybe even in 2009.

Denza

Cahoot are a going concern and a division of Santander.

There is no question that Santander are liable for all historic Cahoot product issues should those issues resolve in favour of the claimant.

In other news, on request, they sent me a letter (well basically a print-out) of the emails purportedly sent around the time of the loan migration to all Cahoot customers including the notice of variation.

Here are the highlights from their letter in their own words:

1> Notice of removal of Withdrawals sent 12/01/2010
2> Notice of Variation sent 12/01/2012 (Denza : *)
3> Loan migration notice sent 20/02/2012 (Denza : *)

* yes, those are the actual dates as recorded on my, in their own words; 'bespoke communication'.

With respect to 3> they have also failed to actually provide the email thereafter, just that line. Unless the implication is that they sent me a completely blank email with no subject line... which I suppose should not be discounted.

In the case of 1> the email includes this link :

http://www.cahoot.com/terms/pdf/flexibleloannoticeofvariation.pdf

Cell

Thanks for that.

So we know for sure that it became totally IN-flexible on 11 February 2010.

pheonixrising21

At the third attempt, I finally received the standard knock back letter yesterday. By third attempt, I mean their third attempt at sending it to me!

As the FOS seems like it will take the best part of six months anyway, I have deciced to go for a slightly different approach. I have just emailed back to the CEO's office, pointing out the errors in their arguement. I have even gone through the (now) legendary Section 13 point by point, explaining how each clause is either irrelevant in this case or the arguement based on it is flawed. The only one I can't get around is 13.3 "We may also change our interest rates and/or charges for any other reason that is valid". I just asked them to explain the valid reason and when they informed me of it.

I figured another couple of weeks to get another reply wouldn't hurt me too much in the long run. In any case, I need some time to work out the additioanl interest charges from the info they sent before I go to the FOS anyway.

As an aside, has anyone mentioned either to Santander or the FOS anything that has been mentioned here i.e. some people getting "goodwill" offers initially and now everyone getting blanket rejections? Is it something to put in the complaint to the FOS/Santander or not?

happy_bunny_2

pheonixrising21 wrote: »

As an aside, has anyone mentioned either to Santander or the FOS anything that has been mentioned here i.e. some people getting "goodwill" offers initially and now everyone getting blanket rejections? Is it something to put in the complaint to the FOS/Santander or not?

I would not mention this in the initial FOS referral, but if they reject it then I would, as you don't have to accept the first FOS decision.

Ali_UK

pheonixrising21 wrote: »

At the third attempt, I finally received the standard knock back letter yesterday. By third attempt, I mean their third attempt at sending it to me!

As the FOS seems like it will take the best part of six months anyway, I have deciced to go for a slightly different approach. I have just emailed back to the CEO's office, pointing out the errors in their arguement. I have even gone through the (now) legendary Section 13 point by point, explaining how each clause is either irrelevant in this case or the arguement based on it is flawed. The only one I can't get around is 13.3 "We may also change our interest rates and/or charges for any other reason that is valid". I just asked them to explain the valid reason and when they informed me of it.

I figured another couple of weeks to get another reply wouldn't hurt me too much in the long run. In any case, I need some time to work out the additioanl interest charges from the info they sent before I go to the FOS anyway.

As an aside, has anyone mentioned either to Santander or the FOS anything that has been mentioned here i.e. some people getting "goodwill" offers initially and now everyone getting blanket rejections? Is it something to put in the complaint to the FOS/Santander or not?

I did wonder if it was worth going back on their initial letter, I still can't decide!

debtox

Cell wrote: »

No letter STILL!

12 weeks and counting...

Got mine today after complaining on 8th January. Rejection obviously.

newcook

I too have received the knockback email from them today – 5 minutes later I was emailing my form and emails to FOS!

emmapurple

I recieved my second rejection letter today, they obviously thought the first one wasnt enough!!! exactly the same as the first one again quoting clause 13.