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

nospotters

I completely agree with the Martin Lewis sentiment, it appears now that he is only ever willing to fight a cause that will allow him a moment in the limelight and not one that will require some effort!:(

Sssss12345

Hi all,

I have sent an email to the CEO at Santander as recommended in earlier threads. I have now had a response back saying that i am not entitled to a refund as they did everything they needed to. However they did send me some very useful information which makes me feel like i have an even better case. Does anybody know of any solicitor that would be able to take my case as i think if i win it will mean they have to pay out to everybody.

Did you know that 10 days before the first interest rate hike, they ran a campaign to increase peoples credit limits. This very much looks to me that they were trying to entrap people. They must have known that they intended to increase APR rates this isn't something they would have decided to do overnight.

Any advice greatly received

Backtosquareone

I have also tried to get compensation- unfortunately unsuccessful. It also took me three months to get a statement from them- I now receive them monthly. Surely it is wrong that I wasn't receiving any statements since Santander took over from cahoot? Anyone know about that?

happy_bunny_2

Backtosquareone wrote: »

I have also tried to get compensation- unfortunately unsuccessful. It also took me three months to get a statement from them- I now receive them monthly. Surely it is wrong that I wasn't receiving any statements since Santander took over from cahoot? Anyone know about that?

You would think...

Seems like the FOS refuse to hold Santander to account for any of their behaviour, including putting incorrect interest rates in statements. Why not issue another complaint, stating as you never had statements you shouldn't be charged interest for that period. There have been similar cases in the press over the last year.

happy_bunny_2

Sssss12345 wrote: »

Hi all,

I have sent an email to the CEO at Santander as recommended in earlier threads. I have now had a response back saying that i am not entitled to a refund as they did everything they needed to. However they did send me some very useful information which makes me feel like i have an even better case. Does anybody know of any solicitor that would be able to take my case as i think if i win it will mean they have to pay out to everybody.

Did you know that 10 days before the first interest rate hike, they ran a campaign to increase peoples credit limits. This very much looks to me that they were trying to entrap people. They must have known that they intended to increase APR rates this isn't something they would have decided to do overnight.

Any advice greatly received

Might be worth sending Denza a PM

He was looking into legal action but not heard an update recently.

PoollooP

I guess I'm to late to try and claim anything back?

Joined Cahoot in Aug 2004
Flexi Loan amount £6000
Apr 5.7%

I now owe £2900 and my apr is 16.61%.

I was looking for a phone number so i can make a payment and stumbled across these posts. But as I say above I'm probably to late trying to complain.

How do I go about trying to make an offer of settlement instead then?

happy_bunny_2

PoollooP wrote: »

I guess I'm to late to try and claim anything back?

Joined Cahoot in Aug 2004
Flexi Loan amount £6000
Apr 5.7%

I now owe £2900 and my apr is 16.61%.

I was looking for a phone number so i can make a payment and stumbled across these posts. But as I say above I'm probably to late trying to complain.

How do I go about trying to make an offer of settlement instead then?

Yes, too late unless any significant new developments arise.

When you say settlement offer, have you defaulted?

If not they probably won't accept it and if they did they would trash your credit file.

Just ring Santander customer services from the website.

Do you not get statements?

bobdauilda

Has anyone made any progress with their complaint or court case?

bobdauilda

Wonga can't get away with it so why have Santander managed to do so for so long?

MHO_2

I guess no one has had any success, it seems there's a ban on anyone talking about it!

I'm paying about £200 off mine per month, on a £6500 balance, of which £170 is interest!

From next month i can afford to double my repayment and try and get it cleared!