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

Logman63

Hi everyone! Just a quick note to tell you all to keep persevering with your letters to FOS. I just received a call from them yesterday, saying that my complaint from Sept. 2011 was upheld. That means I get £600 back from the bullies! A long wait, but it was worth it. You have nothing to fear if you are in the right! Keep plugging away!!

myball123

Delivered my complaint to the FOS today.

oracleman

Logman63 wrote: »

Hi everyone! Just a quick note to tell you all to keep persevering with your letters to FOS. I just received a call from them yesterday, saying that my complaint from Sept. 2011 was upheld. That means I get £600 back from the bullies! A long wait, but it was worth it. You have nothing to fear if you are in the right! Keep plugging away!!

Well done LOGMAN63, and it cost Santy £600 as the FOS charge them a fee for handling the case as well. Hang in everyone it takes time but we WILL win our money back

lunch12345

To re-iterate Logman63 post. FOS upheld my complaint from Dec 2011 and Santander refunded an additional £ 1,400.00 to the
£ 500.00 offered in November. I asked for a detailed calculation of the refund (back to 6.69 %) from June 2006 but they say that ''experts'' have calculated the amount and the FOS have agreed. I very much doubt there is even one ''expert'' at Santander!
However, I am happy with the £ 2K refund so I am not going to rock the boat further. Only about £ 1,400.00 left before I get rid of this horrible loan.
The FOS will (and must) uphold all complaints without exception, so stick with it.

oracleman

lunch12345 wrote: »

10 days after signing the acceptance forms and sending back to the FOS still nothing (No calculation/rebate/compensation!!)
Is this normal practice? Can anyone advise how long it has taken them from FOS uphold to rebate?
Cheers

Hi Lunch12345
Did you eventually get your rebate and calculations from FOS/Santy ?

lunch12345

oracleman wrote: »

Hi Lunch12345
Did you eventually get your rebate and calculations from FOS/Santy ?

Hi Oracleman
See post above yours.

oracleman

Lunch12345 how long did it take from agreement with FOS to Santy getting you the cheque ? So you never got the calculations from Santy ?

lunch12345

oracleman wrote: »

Lunch12345 how long did it take from agreement with FOS to Santy getting you the cheque ? So you never got the calculations from Santy ?

.
4 weeks from FOS uphold to loan being credited with another
£ 1,400.00 (don't forget they originally offered only £ 500 which made me go to the FOS as I knew it was much more than this)
No detailed calculations, they just won't offer them. I think it's too complicated for them and they pluck a figure from thin air. They did say that they have deducted total Interest charged on the loan from inception to complaint and deducted this from Interest that would have applied at 6.69 % for the same period.

oracleman

Strange that Santy can not produce the calculations. The maths isn't really that hard - they manage to work it out when calculating the interest each month. Suspect like you said they just make a figure up and then can not support this figure - so no calculations.

willsboy

Logman63 wrote: »

Hi everyone! Just a quick note to tell you all to keep persevering with your letters to FOS. I just received a call from them yesterday, saying that my complaint from Sept. 2011 was upheld. That means I get £600 back from the bullies! A long wait, but it was worth it. You have nothing to fear if you are in the right! Keep plugging away!!

Thank you for posting this, Logman.

This is the kind of news that I, and I'm sure, a lot of others have been hoping for.

My case is pretty much the same as yours (started in 2002 and about the same kind of borrowing levels as yourself), except that I am only now in the process of settling the account.

I've been feeling a bit dismal lately about the way things seemed to be going, but your success has spurred me on to see it through.

I've just got my refusal letter and need to prepare my FOS complaint.

Can you give an idea of what kind of stuff you put in your FOS complaint, and when you submitted it?