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

Denza

courtleigh wrote: »

After all these interesting posts - the outcome does not look too positive.
I submitted by claim to FOS in April- had an acknowledgement and that is the last I have heard.
I took a £7k loan and 12 years later I owe £5k- so by the time I have paid this off they will have had approx £50-£60k!!!
If someone more astute and more proficient wants to raise this publicly- they will definately have a follower!!
A mass action should sort it out!!

This is the prime reason that everyone should raise the formal complaints/concerns with the following as a matter of course:

- Santander
- FOS
- OFT

In a metrics driven world the more numbers we put on the scoreboard the more visibility and exposure we can expect.

If, for example, we go to Watchdog or whatever with 1000 complaints raised and escalated to the FOS and the OFT confirm 1000 individual concerns this is going to have more weight than a handful of people flying the flag.

There are other options like litigation which can be explored at the end of the convential lines though this will take years to resolve unless Santander chose to settle in which case about 18 months seems realistic from inception.

Let's be honest though, they're not going settle are they as that would not be prudent or competitive on their part ;-)

Good luck to all.

happy_bunny_2

happy_bunny wrote: »

Just logged a complaint online about the zero credit limit and 999 months payments. I will annoy them as much as I can for their incompetence.

Just received the rejection letter, says that its 999 months as its a flexible loan that can be repaid at any time...what utter rubbish, it has a minimum payment.

well, may as well fill out the FOS form...

trsisko

Weird, I just had a call from an Adjudicator and they have confirmed that they have been assigned to my case (It's only taken 8 months), so I guess I have to wait until she go's through the paperwork. Another 8 months probably!

Mean while I struggle on the same Loan. I'm not really sure if they know what they're doing at the ombudsman. She didn't even know about similar complaints, despite the previous letter suggesting previous complaints had been lumped together!

farmer1971

Unfortuanately the Ombudsman has made his final ruling regarding my complaint and has ruled in favour of Santander.The final ruling was more or less a copy and paste exercise of the adjudicators findings.

I hope you all have a more successful outcome than I.

Goodluck everyone you should hear very soon.

persianface

That's really disappointing , in particular because of all the early pay outs by Santander.

Pretty much guessing all other cases are now going to be unsuccessful too

Cell

persianface wrote: »

That's really disappointing , in particular because of all the early pay outs by Santander.

And the previous decisions (or arm-twisting) by the Ombudsman (not that I can recall any firm quotes in that regard, just reports).

Denza

farmer1971 wrote: »

The final ruling was more or less a copy and paste exercise of the adjudicators findings.

Would have been nice to see some expanded level of review and due diligence to inform the Ombudsman.

As reported however this has all the appearance of a ratification exercise as opposed to an actual reconsideration of the facts (or lack thereof).

I would be interested to know how many Adjudications are turned over by escalation to the Ombudsman in all areas.

I caught the FOS slapping themselves on the back on some news program recently over their PPI successes; would not be surprised to learn however that initial claims were given in favour of the lenders which appears to be the default for our impartial and independent friends.

kenny_straw

I would love to see a copy of the FOS rulings in favour of the claimants that were reached almost a year ago.
After this website made the payouts a news story they stopped straight after...so it would be nice for someone from MSE to get behind this story again.
I have to say that claims being rejected is hard to take after the same complaint being upheld in the past. (Although I am glad at least some people have got money out of these leeches!)
Pending the inevitable knock-back - where do we go from here?

Denza

kenny_straw wrote: »

After this website made the payouts a news story they stopped straight after...so it would be nice for someone from MSE to get behind this story again.

Agreed, have mailed the newsdesk just now to request as much and recommend as many people as possible do likewise.

[EMAIL="news@moneysavingexpert.com"]news@moneysavingexpert.com[/EMAIL]

kenny_straw

Agreed, have mailed the newsdesk just now to request as much and recommend as many people as possible do likewise.

news@moneysavingexpert.com

Done ! Wonder will it fall on deaf ears....