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

IndianaBlues

I sent off my complaint on 8th January, heard nothing positive yet but did receive an account overview in the post (not requested). Like a lot of people I have nothing to compare it to as my account was serviced online, but I'm sure the interest rate had been in the 20's, according to this it's been 16.7% since 2008...

Cell

I can't remember when Cahoot was taken over by Santander, but from that time onwards online access was withdrawn and paper statements sent which confirmed the interest rate.

No good of course if your loan was paid off before then.

Could you expand on what this account overview said? Was it just a list of dates and rates?

Thanks :-)

shinyuk

Hi all,

Apologies if the questions already been asked but have looked through the thread and cannot find anything. Is there a template I can use ? There is a reference to one?:)

fairydust30

perhaps a new thread should be made that just has posts that contain peoples results from complaining and the time it took to reach their result etc - since this has gotten really BIG. Im sure it would be helpful?

I sent email earlier today and nothing yet - not even an autoresponse.

Cell

shinyuk wrote: »

Hi all,

Apologies if the questions already been asked but have looked through the thread and cannot find anything. Is there a template I can use ? There is a reference to one?:)

It's been asked, and answered, within the last few posts!

emmapurple

I sent email two days ago similar story to the others cant remember starting rate but rose to 16+% and i was in too deep with too bad credit to shop around. managed to settle it last march through a divorce settlement and when first started reading these threads was positive i had as much of a case but reading the last threads i wonder now. I claimed ppi back from a santander card and personally dont have much faith in the company or their way of doing things. However they did pay up without too much effort in that case just hoping will be the same with this but sounding like it will be much more of a battle. As yet not recieved autoreply or any contact but guessing i may be being very impatient will keep posted

aer_2

I sent in an email complaint this week too, no response as yet... Had a flexi-loan from Feb 2002 and eventually paid it off in November 2009. Initial interest rate i'm unsure on, but it was similar to the low figures mentioned here, 6.9% comes to mind. Mine rocketed up to 23.24%.

I rang the customer services on 0845 600 3512 and just asked for information regarding my loan as I had misplaced it and was doing some credit checking and wanted to make sure it was all closed. They gave me just about all the info I needed to complete the claim.

I will be happy to get anything returned, but this loan was a thorn in my side for ages so i'm going to pursue it all the way via the ombudsman if necessary. Also as Santander have paid out to plenty of others as detailed here i'm sure they have a set a precedent, which surely means if they have admitted fault for one they need to admit fault for all? Isnt that the way these things work?

pheonixrising21

aer wrote: »

Also as Santander have paid out to plenty of others as detailed here i'm sure they have a set a precedent, which surely means if they have admitted fault for one they need to admit fault for all? Isnt that the way these things work?

As all banks in this situation do, Santander haven't admitted fault! It seems from everyone's stories, those that have had refunds have been "goodwill" gestures. They seem to be very generous with their goodwill in a lot of cases though!

neilkeys

i emailed on the 23rd and got the automated response that they will look into it and get abck to me, well today i got a letter saying

Thank you for contacting us to let us know about your concerns relating to your cahoot account Flexible loan and the interest rates linked to this loan which you believe have risen unfairly over recent years

we are currently investigating your concerns and will review them inline with our product terms and conditions . Sometimes this can take time but once this has been completed we will write to you again

High quality customer service is of great importance to us at Santander and we'll do everything we can to resolve your complaint in a timely and satisfactory manner.

you may also be entitled to refer your complaint to the FOS if you do not feel we have resolved your complaint to your satisfaction. More information about this will be provided with our resolution letter.

Lets see what the outcome is eh !

expertfan

Hello, just joined forum and need advice on this matter please.

Cahoot loan taken out in 2003 for approx 12000 at approx 6.5%

Overpayments made and then borrowed back over time. Final ammount when I had to enter into a debt management plan with cccs about 2 years ago was for approx 10000 at 19%.

CCCS managed to get interest frozen and am now making payments regularly and monthly directly to Santander. (In other words, not CCCS client anymore, just dealing with them directly).

My question is will I be eligible to have my interest over the time ffrom 2003 to 2010 adjusted upto when i entered a dmp and had interest frozen or am i best leaving well alone?

outstanding amount 8800.

any advice much appreciated.

many thanks