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

lilly2011

Very similar start date and balance to mine and I've just been offered just under £6k

Good luck

Crombster wrote: »

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

hr9hr9

I have had to forward a copy of my original email to [EMAIL="CEO@Santander"]CEO@Santander[/EMAIL] as although my husbands case has been dealt with and we have accepted the offer for him (both sent on same day), I have received NO auto emails or anything regarding my complaint.

I hope they fast track it for me due to the delay / glitch.

I did say to my husband that all my luck is bad :eek:

Helen

EKAndrew

Hi All,

I have recieved my letter today!! Finally!!!

I have been offered £3.8k which is in "full and final settlement" - delighted!!!

But I am left wondering if indeed they owe me more!

Should I accept this "generous" offer and move on to try and clear some of my other debts? Or should I query this more with them??

Thanks to all for their assistance/advise and a big :beer: to harry and bunny

lilly2011

EKAndrew wrote: »

Hi All,

I have recieved my letter today!! Finally!!!

I have been offered £3.8k which is in "full and final settlement" - delighted!!!

But I am left wondering if indeed they owe me more!

Should I accept this "generous" offer and move on to try and clear some of my other debts? Or should I query this more with them??

Thanks to all for their assistance/advise and a big :beer: to harry and bunny

After yesterdays excitement, i have read my letter again and noticed that the date it is calculated to is wrong as it states it was done to the point that i complained about the rate rise.

The letter says May 2011 whereas i complained around early December 2011 so if it's not just a typo, it's around another 6 months worth of interest i am owed.

Also, as part of my complaint, i asked for the charges that mounted up on the account to be looked at as they totalled over £700 but this is not mentioned in the letter.

I hate to sound so ungrateful but before sending my settlement acceptance back, do you think it's reasonable to ask for the above to be checked?

I have 11 months of payments left before the loan is cleared so anything that would reduce the balance would be a great help

Thanks

hr9hr9

My hubby's letter wasn't exactly calculated correctly either, the start date and rates were not correct but we really need his loan cleared and were more than happy that his offer almost cleared his debt.

I, however will scrutinise my letter and respond if all is not as it should be because I don't owe much in comparison and can afford to wait longer.

A strange thing happened this am wrt hubbys claim, he received a letter from Santander dated 4th jan stating that they are still investigating, even tho he received his offer earlier in the week!!!

They might pay out on his twice

Helen

lilly2011 wrote: »

After yesterdays excitement, i have read my letter again and noticed that the date it is calculated to is wrong as it states it was done to the point that i complained about the rate rise.

The letter says May 2011 whereas i complained around early December 2011 so if it's not just a typo, it's around another 6 months worth of interest i am owed.

Also, as part of my complaint, i asked for the charges that mounted up on the account to be looked at as they totalled over £700 but this is not mentioned in the letter.

I hate to sound so ungrateful but before sending my settlement acceptance back, do you think it's reasonable to ask for the above to be checked?

I have 11 months of payments left before the loan is cleared so anything that would reduce the balance would be a great help

Thanks

debts_reducing

From reading all the posts it looks as though santander are issuing a number of different letters. Some people mention accepting an offer, some mention full and final settlement. The letter I received just said a credit would be made to my account in 5 - 10 working days. Does anyone what the differences are?

I am happy with my outcome - now only owe £5.36, but am curious to know why the letters differ.

Thanks

highadmiral

debts_reducing wrote: »

From reading all the posts it looks as though santander are issuing a number of different letters. Some people mention accepting an offer, some mention full and final settlement. The letter I received just said a credit would be made to my account in 5 - 10 working days. Does anyone what the differences are?

I am happy with my outcome - now only owe £5.36, but am curious to know why the letters differ.

Thanks

As far as i know Santander are basically taking the interest rate from when the account was opened and applying it either across the whole loan period to date or to when the account was cleared.This is the same for everyone i think.Obviously different people have different initial rates and some calculations are more complex than others where extra withdrawals have been made or payment arrangements have been active.There may well be a different letter to those receivng cheques when the account is already zero balance.

I was looking at my statements today and it says on mine that i have been paying 20% since Aug 08.I checked back through bank statements and it appears that the monthly payment actually shot up in Aug 07 so i have been paying 20% for over 4 years.There didn't appear to be another rise in Aug 08,i will be interested to see what they come back with !
I have no way of knowing whether there were other smaller rises in the rate earlier since the statements can't be accessed on the website anymore and paper statements only started when Santander took over.

debts_reducing

High admiral

Thanks for your reply.

I am just curious as to why some people talk about a "full and final" offer and some about "accepting an offer". The letter I received said an amount was to be credited to my account. No mention of whether I wanted to accept it or whether it was a final offer. I would expect all letters to be very similar.

My loan was taken in Oct 2002 and letter said the first rate rise was on 1 April 2004. No idea when rate rises occurred after that as was all online and no access to that now. Letter states they have gone back to first rate rise and calculated at original rate up to 30 Dec 2011. I am happy with what they have offered, but as a customer I have no way of knowing whether what they have done is correct.

Thanks

Nicky321

debts_reducing wrote: »

High admiral

Thanks for your reply.

I am just curious as to why some people talk about a "full and final" offer and some about "accepting an offer". The letter I received said an amount was to be credited to my account. No mention of whether I wanted to accept it or whether it was a final offer. I would expect all letters to be very similar.

My loan was taken in Oct 2002 and letter said the first rate rise was on 1 April 2004. No idea when rate rises occurred after that as was all online and no access to that now. Letter states they have gone back to first rate rise and calculated at original rate up to 30 Dec 2011. I am happy with what they have offered, but as a customer I have no way of knowing whether what they have done is correct.

Thanks

My letter seems similar to yours, they where going to credit my account with £***.** and sent a cheque for what I assume was left over.

MUM40

I'm curois as well, I am on an IVA and my loan is still outstanding. Santador sent me a cheque. Why did they not use this against the outstanding balance of my loan?

by the way, has anybody received statements recently?