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

Denza

Bleachbird wrote: »

Am going to give it another couple of weeks and then that complaint is going in to the FOS.

I was going to hit the FOS this week but am now holding fire for a month in order to get the details back from my SAR which will firm up my own calculations.

Recent updates regarding unsolicited upward revisions have given renewed hope that some reasonable settlements might be forthcoming for those still in limbo however I'm certainly not taking anything for granted.

The recent FOS ruling from 'lunch12345' has firmed up my belief that they will ultimately be able to resolve the issue to my satisfaction a few months down the line should Santander not be able or willing to do so in the interim.

Good luck to all.

InsertWittyName

MUM40 wrote: »

I'm in work at the mo, but will let you know later, there is a number on the letter on the right hand side, I used the second number, and got through straight away

Thanks - I used the first number and got directly through to the person who dealt with the complaint in the first place.

Apparently a lot of letters were sent out without the cheques and they will be sending the cheques out shortly.

persianface

Well my initial complaint was submitted August and I got a response about PPI which I never mentioned in my complaint. I re-submitted in January, sent a reminder in February and 2 in March and got this response yesterday afternoon.

Thank you for your follow up e-mail about the timescales quoted to resolve your complaint.

Although our reply states 'We try our best to resolve your complaint quickly,’ and we quote a time of 4 weeks, this does not mean it will take 4 weeks in every case to deal with a complaint.

We always make every effort to resolve all complaints as swiftly as possible. The time needed to look into a complaint depends on how complicated the complaint is and how much investigation is required to resolve the issue.

If you have any further queries, please feel free to contact us again.




I have not even mentioned four weeks in any of my communications. I mentioned to them that I would rather solve this without taking it to the FO, but now I think I am going to have to do this.:mad:

MHO_2

Anyone have any updates?

Herewego

Email sent 21st Feb and a confirmation email by return, then eventually I got a letter today dated 22nd March was starting to worry my email had disappeared nothing but a standard letter stating they are investigating my concerns.
Lets hope no news is good news

DontAskDontGet_2

:TFirstly, thanks to the original forum posters, everyone else that has contributed to this thread and congrats to those who have been successful in their claims. On the strength of these posts I've sent in my complaint to Santander, to oppose these unfair interest charges.

Due to the increase in interest, my account has gone terribly into arrears and I'm struggling to maintain their enormous minimum monthly payments of £400+ plus something to pay off the £2.5k arrears.

Cahoot Flexiloan Balance: £17k+
T&C Interest Stated: 5.9%
T&C Date: Oct-2004
Current Interest Rate: 16.2%
Complaint Emailed: 22-Mar-2012
Santander confirmation letter: 24-Mar-2012

I really hope this comes to a good conclusion, as this situation is driving me crazy (and has been for some time now!).

I'll keep this thread posted as progress happens.

trsisko

If it's the case that Santander have acted inappropriately, surly we could be in a position to sue them for damages in relation to this - imagine the grief, hardship and health issues caused by this!

Henrik79

Cahoot Flexi Loan – April 2006 - £4,181.22
Initial interest rate 14.4%
Initial repayments £175.00 for the first 19 months to January 2008
Withdrew £1,000.00 in May 2008
Repayments at £210.00 for next 7 months to July 2008
Withdrew £500.00 in July 2008
Repayments at £120.00 for next 4 months to November 2008
Minimum repayments from December 2008 to now.
Withdrew £450 in May 2009.
Never missed a payment.

Total credit = 6,131.22
Total repayments (so far) = 7,183.29
Outstanding balance according to Santander = Approx £2,400.00
Current interest rate 21.08%

6 March 2012 – Email formal complaint to CEO address
7 March 2012 – Received letter stating they were looking into complaint.
12 March 2012 – SAR letter to Santander

Not heard anything else yet.

End of 8 weeks is 1 May 2012.

Long way to go but I am still hopeful.

Alex444

Santander have been battered from pillar to post over the last week, they have had to refund Bank Charges (Yes that old nugget) and have lost a case where a Storecard was converted to a Credit card automatically.
The bank charges case was based on new arguments, with further test cases to follow (see Govan Law site) I believe it was settled before it hit the Court. The card case was based on a former GE storecard and went to full judicial review.
Maybe santander are putting some money aside before the floodgates open.

Alex444

Google Santander v Mayhew