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

Firestorm2011

Hi happy_bunny,

Could you pm me a copy of the letter as well please

Thanks

Karl

Kira000

EKAndrew wrote: »

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

Its hard to be patient i know! I think give them a bit more time- 14 working days or so seems usual, bit more for complex cases, bit less for very easy ones. If you are already "in the system" they may not have thought it necessary to send another acknowledgement. Plus with the number of additional complaints this thread is generating now, it may be taking them longer to get through the cases!

I would keep an eye on your phone, as they seem to like to call and advise they have come to a conclusion on your case, before they send a letter.

rikmartin

An update from me:

I sent an email to the CEO address on late Friday evening.

Recieved email today asking for my contact number

I sent this back and got phone call from Santander

He advised that they were refunding the excess interest

Confirmed my address and advised cheque would be sent out in next week

.

For reference I used the text in the post near start of thread

lilly2011

happy_bunny wrote: »

On its way

Thanks for my PM too

I phoned the complaints team yesterday morning and the complaint was registered and i was advised that someone will call me today before 5pm.

I guess i should really have emailed the complaint in but hopefully it will work.

Going back over old statements, when i fell into difficulty, i racked up nearly £700 in charges on the Cahoot loan so i mentioned the charges when i called so fingers crossed, they'll be looked at as well.

Thank you OP for posting this and good luck to all that are waiting to hear

cookie78

rikmartin wrote: »

An update from me:

I sent an email to the CEO address on late Friday evening.

Recieved email today asking for my contact number

I sent this back and got phone call from Santander

He advised that they were refunding the excess interest

Confirmed my address and advised cheque would be sent out in next week

.

For reference I used the text in the post near start of thread

Oh thats good news, did you get much refunded? I sent mine on Saturday afternoon so hope I get the call and will keep you all updated.

lilly2011

Does anyone know how the calculations are done? I've tried to work it out roughly and if so, i am owed more than the balance of the loan.

laidbackgjr

Thanks to finding this thread on the forum, I sent an e-mail (22nd Nov) and now have a credit of £3,038.11 posted to my account, which now means I'm confident I can clear the remaining loan balance by end of 2012, which is good news.

Nicky321

happy_bunny wrote: »

On its way

Could you possibly PM me too? I took out my cahoot flexible loan in March 2004, but borrowed more when i needed it and not sure what the interest rate has been, but now it is 16.61% and i'm still paying it back

cheredenine

I now have a cheque in my posession from Santander! And a lovely letter admitting no fault or wrong-doing, but offering me a goodwill gesture... Riiiiiiigh.

My history: Took a loan out for about £9000 in 2003 at 7%. Made my payments on it, but several times had to take out what i'd paid back in as my money management wasn't the best. Paid the loan off (but didn't close it) in 2006, using a fixed term loan from Natwest at a lower APR. The Natwest loan has since been paid off! I subsequently borrowed against the Cahoot loan again in 2008 to finance a house moving exercise and managed to pay that off in 2010.

What this all means is that i had got rid of the loan before the period when they really started jacking up the rates; the amount i borrowed in 2008 (probably about £1000, can't remember) was obviously at a high enough interest rate compared to the original to warrant a refund, however, as they've sent me a cheque for £432. Nice result!

Its really worth a shot - i sent them an email to the ceo address in the first post here. Would have had the cheque a lot sooner if they'd paid attention to what i said my current address was, too. All communications over email, nice and easy.

rikmartin

cookie78 wrote: »

Oh thats good news, did you get much refunded? I sent mine on Saturday afternoon so hope I get the call and will keep you all updated.

Hi,

Sorry didn't ask them how much, was more surprised they were doing it at all

Thanks