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

Denza

UncleDennis wrote: »

FW: Found the 8 week letter -is this ok to send x

I like the kiss, it's humanises the team in the other trench.

To be fair, as Cell alluded to recently, I suspect that the actual complaint handlers are completely disempowered and are awaiting an executive decision on how to proceed across the board.

The sheer inconsistancies of 2012 responses shows the sorry state of affairs that has been prevailing over at 'Tander Towers.

An approximation of the response timeline went from satisfactory settlements offered through to lowball offers then on to rejections and now complete and utter silence.

However I have every confidence in the FOS restoring the balance of power to the claimants though this will of course extend the turnaround time.

Lennymore

Morning

I'm a complete newbie here to this site and this thread and am stuck in work so can't go through the whole thread in its entirety at present.

But after reading briefly, I just wanted to clarify that, if I contact Santander about my Cahoot loan from at least 9-10 years ago (have no paperwork, no account number, no anything and it was settled during the course of an IVA) using HP's template, I may be entitled to get a refund on the interest rates?

Many thanks

newbie1001

Received the credit into my account last month and waiting for the next statement to see how it impacts payment etc. The thing that puzzles me is i did not have to sign anything at all and the letter does not mention full and final settlement. Does this mean i can pursue it again in the future especially since i am still having to pay the remainder of the balance at 20.9%

Cell

persianface wrote: »

Has anybody had any offers in the next couple of days. i am interested to see what people are being offered in comparison to their loans. My original loan was 12,000 and I did use the flexiblity quite a lot. I have been £250, but have always been disheartened by the fact that it only reduces the balance by just over £100 per month due to the high interest rate 16.169%

One lone (if you pardon the pun) response in the past couple of weeks, and this was a strange one as it related to someone who was on a debt management plan if I recall correctly. His (or her) response came within a couple of weeks for some reason, but for the rest of us no decision or voluntary communication for how long? A month?

It is quite clear that everything is on hold and that they're formulating a policy which they hope will be legally defensible. I can see no benefit at all in not proceeding via the FOS. All the delay is allowing them to do is to build their perceived defences.

Hurtle

Should we wait for our respective 8 weeks to be up though, or just launch straight away?

Cell

I think the FOS can't act until eight weeks has passed from the initial complaint.

pheonixrising21

I think I'm going to be disliked on these boards for what I am going to say.... I'm not sure the FOS will speed things up any!

I've recently sent a complaint to them (23rd Jan) regarding a completely separate issue with a different and unrelated bank. They sent a letter back immediately stating they had received my complaint and would investigate, but this could take four weeks. I called today as I had not heard anything and was told that it may now take 12 further weeks to investigate my complaint.

Seems that the FOS are behind in their workload, which is probably ever increasing!

Just thought I should let people know of the current delays - although they may prioritise this issue as there are a few of us? I'm still confident they will sort this thing out for us, but it may take some time!

oracleman

Perhaps Santy are taking the 8 weeks to send their chaps back to school to do some basic maths retraining. In my case and others the recalculation was hopelessly wrong. 3 out of 10 on this one, and see the teacher !

My complaint to FOS took 4 weeks and then I also got a letter to say it then might take up to 12 weeks, four weeks have passed and still waiting.

persianface

oracleman - did you decline the offer and go back and ask them to recalculate. I would not have a clue how to calculate what they could potentially pay out, but then I guess thats what they are relying on.

oracleman

I think Santy think most people will accept their offer.
They contacted me with an offer, I said thats not correct. I was firmly told thats the calculation take it or go to the FOS.

I made a post on this thread on how to do the calculation. basically you need the balance each month and the interest rate. It's a bit of a slog to work out, but should be within a few quid.
(See post No 417 9th Jan 8:33)

Don't trust the !!!!!!s, so work it out if you can