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

Parro2403

you wont believe this....

They have been charging ppi and not showing it on the statements, all the statement shows is an payment credit and an interest debit.

They stopped charging me the PPI end of 2012 which is why all of a sudden the balance started coming down at a satisfactory rate....

Why this stopped in 2012 I have no idea

My Head hurts

Cell

Looks like you'd better get a claim in!

happy_bunny_2

Maybe ask on the PPI forum about miselling.

I would be telling them to refund all PPI forever as well as interest refunds. Not putting that on the statements will not be good for them.

Should add up to a tidy sum.

HB

Parro2403

They have confirmed I was mis sold the PPI.....

Which I presume will cause a further issue that the actual Balance and interest payments will need to be recalculated over the entire length of the loan...

As a very quick calculation last night I have worked out they will owe me over 19k just from the PPI

Also adjusting the balance and payments that are all incorrect as a result of the above PPI, means this loan should have been paid off 4 years ago and I have overpaid the loan by about 14k...

Will keep you posted with the final outcome

HB.... Thanks for your help on this one

happy_bunny_2

Parro2403 wrote: »

They have confirmed I was mis sold the PPI.....

Which I presume will cause a further issue that the actual Balance and interest payments will need to be recalculated over the entire length of the loan...

As a very quick calculation last night I have worked out they will owe me over 19k just from the PPI

Also adjusting the balance and payments that are all incorrect as a result of the above PPI, means this loan should have been paid off 4 years ago and I have overpaid the loan by about 14k...

Will keep you posted with the final outcome

HB.... Thanks for your help on this one

That's a lot of beer

Keep us posted.

HB

VanGoghsEarhere

Hi folks

Been popping my head in for a while now to see if there's any good news for anyone. Any updates? Denza? Parro2403?
Has the 'dream' died?

byebyedebt

See Case File DRN3909971

http://www.ombudsman-decisions.org.uk/Default.aspx

£250 paid in compensation to customer.

byebyedebt

Now we have an FCA with teeth, I am wondering if this mater can be referred directly to the Financial Conduct Authority, explicitly concerning the unfair contract terms.

Trawling the FCA website I have found this form

http://www.fca.org.uk/firms/being-regulated/unfair-contracts/reporting-uct-form

I think that the terms need investigating by the FCA and not the FOS. If enough of us complete the form, they might investigate and make a ruling.

Please post on here that you have completed the form. That in it self will help to re energise this topic.

It would be really useful to others if you could also post the information here that you input onto the form as a text so that others can complain.

I haven't seen a poster from Denza. Could it be that he has challenged successfully but is gagged as part of the deal??? I wonder???

VanGoghsEarhere

byebyedebt wrote: »

See Case File DRN3909971

http://www.ombudsman-decisions.org.uk/Default.aspx

£250 paid in compensation to customer.

Thanks for the links byebyedebt.

The case I made to the FOS (late 2012-early 2013) is similar to Mrs T's in practically every detail yet FOS deem a 'fine' be paid by Santander in that instance. Illustrates the inconsistency. A re-imbursement / goodwill gesture of a paltry £250 (which, in my experience, is a drop in the ocean against the interest being charged) also probably means that Mrs T couldn't raise the case again, if indeed, she accepted the decision.

I'll complete that form in the next week and hopefully get a better response than the equivalent of a 'go swivel' from the FOS

bobdauilda

byebyedebt

https://fcasurveys.org.uk/votingmodule/VOTING2/servlet/survey.VotingSurvey?i_n_f=survey314037_pg0_totpg3_rid305127742_lqid7888813_SurveyLook&msig=ae418ac680461dcb7cd17a2c22d2fae3

Clicking on the link says that OFT is the place that deals with it and not the OFC.

I also think that Martin Lewis & Co have failed everyone affected by this problem by not fighting our corner. There has been nothing above the initial hyperboly to gain his moment in the spotlight and self-aggrandisement that is always employed. Very disappointing Mr Lewis.