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

happy_bunny_2

1. Flogging a dead horse.

2. Some folks have mentioned this. My OHs says 0% and she is not being charged interest. Some on here said there's states 0% but they are being charged interest.
Worth complaining about still.

3. Yes. Your credit file says 999 years @£x. They have been told to correct some credit reports. I was nosing through the FOS complaints database on this last night.
Worth complaining about.

4. Not sure. What's your approx balance and approx monthly payment? How much interest per month?
You may need to send a Subject Access a Request to get the last 6 years worth of statements amongst other things.
Maybe they set your min payment too low.

After 8 weeks of no final answer from Santander, go to the FOS.

Parro2403

Balance is around 9k
Monthly is 220
Interest Due each month is 135

Re flogging a dead horse: They are allowed to just hike the APR like that?

Thanks for your help BTW

happy_bunny_2

Ok, so that means you should be paying off £85 per month, or the best part of a grand a year.

Something must have gone horribly wrong. Maybe when it lost its flexibility.

I would ring the FOS and at the same time submit a SAR to Santander.

As for the interest rate hike. Long story. Best read the entire thread. Hundreds will have tried

In summary, they paid out some cases, stopped, paid out a few more then paid nothing and the FOS agreed with them. It stinks...

Denza is looking into legal action.

I would separate that complaint from your other points. Worthwhile in case anything comes from the legal action and hopefully cost Santander another FOS referral fee...

happy_bunny_2

Wonder if you had PPI? It should be on your original agreement if so, I would think.

Parro2403

Thanks for your time

Will do that and post here any outcome

Parro2403

hmmmm crikey I will dig out the paperwork..

Can of worms springs to mind


There are no ppi payments on the latest statements

Parro2403

As if by magic it just got rejected!!!

happy_bunny_2

Parro2403 wrote: »

As if by magic it just got rejected!!!

All of your points?

FOS time.

Parro2403

they didnt respond to 2, 3 or 4 only responded to the APR hike, the reply came from the ceo email. I have replied and stated I require an answer to all my points, i Have also put in a seperate complaint leaving out the APR Hike

happy_bunny_2

Parro2403 wrote: »

they didnt respond to 2, 3 or 4 only responded to the APR hike, the reply came from the ceo email. I have replied and stated I require an answer to all my points, i Have also put in a seperate complaint leaving out the APR Hike

Sounds like you got the semi automated interest rate dead horse response.

Definitely keep on this, via the FOS when required

HB