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

spreadtrader

Hi Debtox
I emailed the CEO and received the auto reply the day after and then heard nothing else until yesterday when my letter arrived.

hr9hr9

Hi

Just to let you all know, I received my payment to my loan account and received the amount oweing into my bank account on 16th January.

Sent letter of acceptance on 9th Jan, so quick work indeed.:j:j

Helen

hr9hr9 wrote: »

Once again OP tyvm :j
Just received a letter this morning WRT my letter of complaint.

Sent Original email and letter on 6th December 2011
Received NO confirmation of receipt

Recieved offer on 9th January 2012

Outstanding Loan amount £1259.66
Offer amount £1318.84

Original Interest Rate 7.72%
Current Interest Rate 20%

Saving me £50 pm

I was going to counter the offer but as it clears the loan completely, I am more than happy to accept.

Many thanks
Great start to the New Year :T

hullcity74

I borrowed With Cahoot £3,900 in 2005, in 2006 I borrowed back up to £3,400 as I move house. My current balance is £2,900 and the interest rate is 16%. I can't remember what the original rate was though.

My loan is now with Santander, please could someone send me a template and email address to send the letter to.

Thanks.

oscar52

Not sure whats going on with these.

Had my refund in December, just had statement this morning expecting to see some interest charges on there - account still at 0%.

Ever-hopeful_4

Hi, thank u for this very interesting information! Can you please pm me the template u used so that I know roughly what kind of info they require. Thanks in advance

wensleydaleuk

Hi All,

Would someone be able to PM me the letter template please?

Also has anyone had any success complaining without the account number? I settled my Cahoot loan in 2008 and very stupidly don't have a record of the account number.

Thanks!

wendywooh

hi all i had a cahoot loan that was transferred to santander the loan was across 5 years and finished last year.

can someone explain in simple terms what it is that people are claiming for on this thread and if i will be able to make a claim as well.

thanks

dawnybabes

wensleydaleuk wrote: »

Hi All,

Would someone be able to PM me the letter template please?

Also has anyone had any success complaining without the account number? I settled my Cahoot loan in 2008 and very stupidly don't have a record of the account number.

Thanks!

I spoke to a bloke about my hubbys as his is the same and he just told me to send a letter without the account number on but all previous addresses and they would look for it.

Not heard anything back yet but still early days.

yls33

I have been reading this thread with great interest all morning

we to got one of these so called flexible loans in Nov 2005 just prior to moving. initial amount borrowed 15k so paid religiously every month £300.00 60 in all. When in Dec 2010 I rang them to check I could cancel the direct debit i got the shock of my life - we still owed £2,900. There was almost a murder in the house as my husband had set this all up.

In short I have been in correspondance with cahoot/santander since 22 Dec 2010 - very bad correspondance, denying letters received so I started sending small cheques with it - cheaper than sending recorded from France every time and if they bank the cheque they got the letter.

Anyway I was getting any responses or answers to questions I raised so I got the FOS involved. They also having been taking their time and this morning I got the decison - they believe Santander has managed my account in accordance with their terms and conditions but found they did not deal with my matter timely finded them £100.00 that still leaves me £3,200 owed when the rate when from 6.9% to 14% then 16.6 then 17.94% so Cahoot/Santander say. This is despite having a redirect on my account till May 2007 and a copy of my request to their online site to change my email address send to me STILL live email address - we never received a single notification of any changes. We did send them a letter also again they have no record.

FOS also state for those thinking to use then to help for events which took place AFTER 6 April 2007 when the FOS were given jurisdiction for complaints relating to consumer credit.


So I am not going to accept the FOS offer of resolution as it doesnt resolve the issue and I am going to try CEO at Santander like the others - nothing to lose even if the recalculate at the rate they are selling now online at 8.9% my loan would be reduced to a much fair level so the £100.00 offer they can put where the sun dont sunshine.

Dont rely on the FOS to help you out - go to Santander direct as it seems from this thread they have started paying out. Only ever had issues with 2 financial companies Halifax and Santander and I would never deal with either ever again and in the past 15 years that has been told to 1000's of people - I even plan to come back and haunt them as this issue is killing me off slowly with all the stress.

Keep you posted if the CEO helps me out. Good luck to you all in your pursuits of fairness

Nicky321

wendywooh wrote: »

hi all i had a cahoot loan that was transferred to santander the loan was across 5 years and finished last year.

can someone explain in simple terms what it is that people are claiming for on this thread and if i will be able to make a claim as well.

thanks

It refers to Cahoot Flexible loans, and the interest when originally taken was a lot lower than the rate is now or at the time it was paid up. Eg, mine was 7.9% and then kept rising and ended up at 16.61%.

It doesn't matter if the loan is paid up now or not. Send the letter (template available) to CEO and await a reply. If your loan began early 2000's I reckon you should be in line for a bit of cash your way (as a gesture of goodwill of course).