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

elliemoo

Had an ongoing series of loans from about 2001 until 2006/7, I remember the rate going really high and as a consequence paid off my outstanding balance. Have submitted a query/complaint to Santander and will see what happens.

Thanks OP for highlighting this.

Good luck everyone.

lilly2011

Could you help me elliemoo as i'm not sure how to go about complaining about this to Santander and am worried about affecting the arrangement i currently have

Thanks

elliemoo wrote: »

Had an ongoing series of loans from about 2001 until 2006/7, I remember the rate going really high and as a consequence paid off my outstanding balance. Have submitted a query/complaint to Santander and will see what happens.

Thanks OP for highlighting this.

Good luck everyone.

elliemoo

lilly2011 wrote: »

Could you help me elliemoo as i'm not sure how to go about complaining about this to Santander and am worried about affecting the arrangement i currently have

Thanks

Some people have used a template to complain but I just sent an email to the email address in the first post pointing out that I have had a series of loans from 2001 and was concerned that I had been charged too much interest and not notified accordingly about the changes, politely asked them to look at my details and consider if I had been overcharged. Others may have been less polite and/or more specific but I'll wait and see what happens.

I'm sure someone else may be along with more knowledge. You could PM the original poster.

lilly2011

elliemoo wrote: »

Some people have used a template to complain but I just sent an email to the email address in the first post pointing out that I have had a series of loans from 2001 and was concerned that I had been charged too much interest and not notified accordingly about the changes, politely asked them to look at my details and consider if I had been overcharged. Others may have been less polite and/or more specific but I'll wait and see what happens.

I'm sure someone else may be along with more knowledge. You could PM the original poster.

Thanks

If anyone could help with how i can calculate the interest paid/possibly due back that would be great

Scary to think i have been paying this loan back for over 10 years now

saxmonkey

I haven't got the paperwork to hand, but think I took a flexi loan out around 2002 for £10 and the interest has gone up to 16.61%. I want to send in a complaint email to ceo@ but wondering if anyone could PM me a template, or the text they've successfully used.

Thanks very much!

happy_bunny_2

Hi,

I had a 12k loan from mid 2002. I got back 5k+ after going via the FOS.

My OH has got 3K back on a 5K loan from around the same time, also via the FOS.

Not sure exactly what you would get, but somewhere between the 2 would seem likely.

Plenty of pointers in this thread on who to complain to, if you PM me I'll send the letter I used.

HB

lilly2011 wrote: »

Hello

A friend of mine told me about this thread as i have had a Cahoot flexi loan since 2001 and have been on an agreed payment plan with them for the last 18 months after i lost my job and was only able to find work at a lower salary.

My loan was originally for £11500 and my APR was 5.9%. Over the years it has steadily increased to 20% and my reduced payments barely cover the interest.

The current balance is £7250.

Does anyone have a record of the APR increases that could help me calculate what i could potentially claim back as this debt is such a worry to me as despite making the agreed payment without fail, i can never see a way of clearing the debt.

I am currently studying towards a qualification that will allow me to apply for higher paid jobs so could be in a position in the new year to request that the loan is rescheduled (if they'd allow it) so whatever the remaining balance is, i could increase my payments to clear it quicker.

Not sure if it's worth mentioning but prior to Santander taking the loan over, i was receiving charges every month from Cahoot.

Any help would be great

Thank you

saxmonkey

HI happy_bunny,

Any chance you could PM me too?

Thanks :-)

happy_bunny_2

saxmonkey wrote: »

HI happy_bunny,

Any chance you could PM me too?

Thanks :-)

On its way

saxmonkey

Thanks HB, I've sent the email now and will post any progress.

Thanks again!

EKAndrew

i sent an email away on 29/11/11 and received a reply from Complaints on 1/12/11 advising I hadnt provided enough info, I then replied to that email with the requested information on 2/12/11 - but have not heard anything since. Wasn't expecting an instant decision, but an email that wasnt auto generated to say they were looking into it would be nice!

Should I call them for an update? Thats now 10 days (or 5/6 working days) or should I be a little more patient?

Thanks EKA