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

finley909

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

This has puzzled ne as well, the letter I got said that Santander would credit the account in 5-10 days, no mention of accepting the offer.

The problem I had was that I received my letter at the end of November, but the monthly statement received late December did not show the credit. I'm wondering whether we're supposed to reply to these letters accepting their offer.

The response letter read like a template to me, as none of my other issues raised were responded to. I've written back querying this but have not heard back since.

Has anyone who had a credit to their account which did not clear the balance, received a monthly statement showing the credit?

debts_reducing

MUM40 wrote: »

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?

I have been receiving monthly statements. Am due one anytime so interested to see if credit has been applied. Next d/d due on 16th so no idea what amount they will take. I have been overpaying at a fixed amount but have worked out should now only owe about £5. Hopefully that's all they will take!

Nicky321

The last statement I received was December, period 23/11/11 - 22/12/11 showing outstanding balance £935.29 and next payment due 06/01/12. Also "For illustration purposed, if you were to have repaid your load on 23/12/11, the full amount you would need to do this, including any associated charges, would be £935.72."

The letter dated 5th January 2012 in reply to my complaint, was interest refund calculation up until 28/12/11 and they arranged to credit my loan with £950.19, and enclosed a cheque for £8.07. The payment due 6th January 2012, left my account on 6th so I assume this will be refunded back to my back account shortly.

InsertWittyName

finley909 wrote: »

Has anyone who had a credit to their account which did not clear the balance, received a monthly statement showing the credit?

I have, yes.

The payment shows as a 'Cheque Payment' and has reduced the outstanding balance as you would expect.

ned-g

happy_bunny wrote: »

As I mentioned in a post above, based on the following. PM me if you want a copy of my complaint letter:


Hi all, a million thanks to all involved in this thread, it's amazes me how brilliant this forum is!
This also relates to an account I still hold with Cahoot and I too would love to start a complaint to see if I can get any money refunded to me.

Would be grateful for any help with the following:

1) Would be really grateful if could somebody email me a copy of the complaint letter as I would like to use it as a guide.

2) Could somebody confirm the best way to get the fastest response from Santander,is it by email to the CEO, or can I put in a complaint by
the phone number?

3) Does this also relate to the Cahoot credit cards as well and has anybody questioned Santander about this?

Sorry for the long post just keen to find out as much as I can before I go ahead

Thanks in advance
Ned

highadmiral

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

I agree,its difficult to be sure they have the figures right since access to statements is non existant now.I have bank statements from when the account opened in Jan 2006 and i can tell there was a big rise in Aug 07 where the payment jumped nearly £20 a month,it looks like i went from 11.5% to 20% in one leap.Its easier for me since i didn't dip in and out of the flexi facility,so any rise in min payment means a rate rise.

I had assumed that those with zero balance were getting letters making a full and final offer and those with ongoing loans were getting a letter simply stating xxx amount was being credited,but perhaps thats not the case.

Mum40's case is interesting in that they have sent a cheque rather than crediting the account.I can't understand that at all.

@finley909 perhaps since you asked them to re-open and look at other aspects of your case they have held the credit to your account until the claim is finalised.Worth giving them a ring i think.

Nicky321

ned-g wrote: »

Would be grateful for any help with the following:

1) Would be really grateful if could somebody email me a copy of the complaint letter as I would like to use it as a guide.

2) Could somebody confirm the best way to get the fastest response from Santander,is it by email to the CEO, or can I put in a complaint by
the phone number?

3) Does this also relate to the Cahoot credit cards as well and has anybody questioned Santander about this?

Sorry for the long post just keen to find out as much as I can before I go ahead

Thanks in advance
Ned

Check your PM

highadmiral

ned-g wrote: »

happy_bunny wrote: »

As I mentioned in a post above, based on the following. PM me if you want a copy of my complaint letter:


Hi all, a million thanks to all involved in this thread, it's amazes me how brilliant this forum is!
This also relates to an account I still hold with Cahoot and I too would love to start a complaint to see if I can get any money refunded to me.

Would be grateful for any help with the following:

1) Would be really grateful if could somebody email me a copy of the complaint letter as I would like to use it as a guide.

2) Could somebody confirm the best way to get the fastest response from Santander,is it by email to the CEO, or can I put in a complaint by
the phone number?

3) Does this also relate to the Cahoot credit cards as well and has anybody questioned Santander about this?

Sorry for the long post just keen to find out as much as I can before I go ahead

Thanks in advance
Ned

I emailed the CEO and got an auto response soon after.That was followed by another email next day stating that my complaint had been passed to exec complaints and giving the name and direct line of the lady dealing with it.
Still waiting on the outcome,its only been a week.They do seem to be dealing with them promptly.

I am also interested in whether the Cahoot CC rates were escalated in the same way,i have no letters mentioning rate rises and i have no idea what my current APR is.

InsertWittyName

I've had my Cahoot CC since around 2002.

My rate was 15.9% when I got the card and it's still 15.9% now.

Not sure if anyone else has had increases (obviously) but since the CC's are still with Cahoot (even though Santander now own Cahoot) it will likely be handled separately in my opinion.

LemonLady

Hi all

I have just stumbled across this post whilst I was googling for a sort code for Cahoot flexi loans/Santander. I took out a loan in Jan 2006 (and am still paying for it off!) and every month I make my payment manually via internet banking. I made a payment on 27th Dec and have just checked my online banking and have a counter credit on the 5th Jan from Cahoot for the exact same amount! Very strange! It certainly has never happened before

I would be really grateful if someone could send me a message with the template/email that you are all using. I'm pretty sure my interest rate when I took the loan out was 5.9% and it went up pretty swiftly on a 6 monthly basis and has been stuck at (according to my statement) 16.61% since Santander took over. I would be SO pleased to have the balance knocked down

Many thanks in advance