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

cookie78

Nicky321 wrote: »

After the postie came again today with nothing I emailed CEO again asking for an update, attaching all corresponding emails sent. They replied with the following

"Emma has been away from the office and her colleague Michelle Cook has been dealing with this in her absence. A letter has been issued today so you should receive this shortly.

I'm looking on this as good news, or could it be a letter containing disappointment?

Fingers crossed x

Nicky it was Michelle Cook who had dealt with mine. I think you are on to a winner here. Lets hope so :beer:

Nicky321

If the letter was issued today do you reckon I will receive it tomorrow or Saturday or will I have to wait till Monday or later to find out the contents? Its like waiting for Christmas all over again lol

cookie78

Nicky321 wrote: »

If the letter was issued today do you reckon I will receive it tomorrow or Saturday or will I have to wait till Monday or later to find out the contents? Its like waiting for Christmas all over again lol

I reckon Saturday. Keep us posted!

lilly2011

Finally had my letter and my offer was for just under £6k. The debt before the refund was around £7500

This has wiped out such a huge chunk of my debt and I'm so grateful to the OP and everyone on this thread that has given me advice.

I am continuing with the current arrangement which means the loan will be cleared by the end of this year and I will then be totally debt free by June 2013

Nicky321

RESULT!!! :beer:

My letter & cheque has arrived
"Santander are unable to find anything that would suggest they made an error, however, as a gesture of goodwill they are prepared to re-calculate the loan......... (further down the page) We will apply the original interest rate of 7.16% from the date the loan was opened until the date of our calculation on 28th December 2011. I have arranged to credit your loan with the interest calculation of £950.19. This will be applied within the next 5 to 10 working days. Please find enclosed a cheque for £8.07."

however my question is....

My loan outstanding (according to statement) December 2011 was £935.29. I assume when adding interest to this it would have come to £950.19 + £8.07 = £958.26. Today my Direct Debit for £50.00 to Santander for the loan has left my account. Does this mean they will now need to refund me this £50.00 aswell? As i assume the payment of £950.19 credited to the loan account would have cleared the balance leaving me in credit by £8.07 and this would be the cheque enclosed (£8.07). But now I have given them an extra £50.00!

Huge thanks to harry6854 and Happy_Bunny :beer:

InsertWittyName

I overpaid Santander when settling my loan with them last week and they paid it back within a few days via Faster Payments.

I'd wait a week and if you don't get a refund or a letter then give them a ring.

Or you could be pro-active and ring them first.

cookie78

Nicky321 wrote: »

RESULT!!! :beer:

My letter & cheque has arrived
"Santander are unable to find anything that would suggest they made an error, however, as a gesture of goodwill they are prepared to re-calculate the loan......... (further down the page) We will apply the original interest rate of 7.16% from the date the loan was opened until the date of our calculation on 28th December 2011. I have arranged to credit your loan with the interest calculation of £950.19. This will be applied within the next 5 to 10 working days. Please find enclosed a cheque for £8.07."

however my question is....

My loan outstanding (according to statement) December 2011 was £935.29. I assume when adding interest to this it would have come to £950.19 + £8.07 = £958.26. Today my Direct Debit for £50.00 to Santander for the loan has left my account. Does this mean they will now need to refund me this £50.00 aswell? As i assume the payment of £950.19 credited to the loan account would have cleared the balance leaving me in credit by £8.07 and this would be the cheque enclosed (£8.07). But now I have given them an extra £50.00!

Huge thanks to harry6854 and Happy_Bunny :beer:

Knew it was all going to end well. Sweet. :beer:

mlp

Got a cheque today :j

So, I make that a 5 working day turnaround from complaint to resolution. Well done Santander.

myball123

Hi all

Just seen this thread and what an eye opener.

I took out a flexible loan with Cahoot in early 2003 which was repaid early in the summer of 2007.

I only have a few details of the loan till, but I have the account number which is a god start.

Do you think I will get anything back for my loan and would somebody be kind enough to send me the letter template please?

Thanks in advance

Simon

Crombster

Well with nothing much on the TV I started browsing a variety of forums on this that and the next thing before stumbling on this gem of a thread.

I'm bowled over by the number of success stories!

Having dug out my paper work I took out a £10k Cahoot Flexible loan in October 2002 at 6.9%. This gradually shot up over the years and now sits at 16.6%.

There's still a little over £7k outstanding so fingers crossed I could be on to a winner.

Would anyone be kind enough to share a template which has previously worked wonders?

Much appreciated!
Stu