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

Bleachbird

Afternoon all,
Both OH and I have our rejections now. So FOS forms completed and going in recorded delivery tomorrow. On a good note, I have some money from the PPI complaint I made against the flexi loan coming to me. Only complained on 27 March so its pretty quick. Keep at it everyone, we'll get there eventually! :money:

Denza

Rejection letter received today, fully expected I might add.

Standard text.

Glad to draw a line under this phase to be honest and have been lucky enough to have been furnished with ten weeks with which to draft my FOS claim which will be formalised shortly.

Good luck to all claimants. May the FOS be with you!

fairydust30

Rejection letter received. Just wondered if anyone had a bullet point list of what they were including in their 'arguments' to the FOS. I dont think we were given 30 days notice. My letter did not have the account number nor did it refer to the original rate or current rate. If I phone them will they tell me the original rate or will I have to go SAR route?

happy_bunny_2

MUM40 wrote: »

hello everyone, I am one of the lucky ones who has received a rebate and received an additional cheque last week.

Just received a statement for my cahoot flexi-loan yesterday, first one in about a year. Anybody else received statements?

Also noticed that they have the website on www.cahoot.com. Just looked at that site, and there is a 24 page T&C's avaiable to look at, not sure if this will help anyone.

good luck to you all trying to get a refund from Cahoot, and keep us posted.

I get statements, sometimes they miss a month.

My OH hasn't had one since the refund was applied via the FOS in December.

Who knows what they are up to....

happy_bunny_2

fairydust30 wrote: »

Rejection letter received. Just wondered if anyone had a bullet point list of what they were including in their 'arguments' to the FOS. I dont think we were given 30 days notice. My letter did not have the account number nor did it refer to the original rate or current rate. If I phone them will they tell me the original rate or will I have to go SAR route?

I would stick with the same complaint when going to the FOS, i.e. unfair interest rate rises. I would also mention the less than 30 days notice but would stick with the same major complaint points.

The original rate will be on your CCA, which will cost you £1 to get. They will have it, they had mine from 2001 to my shock and my credit card one too.

I wouldn't bother though, or with an SAR, as the FOS will get all teh info they need from Santander.

happy_bunny_2

debtox wrote: »

I have finally found my original credit agreement but I think it is just at application stage as it just says APR is 11.3% based on an assumed credit limit of £100. It doesn't state my credit limit which was actually £9k so I expect the APR might have been lower.

Has anyone else got any paperwork that confirms their credit limit and actual APR?

Yes, all on my CCA, which you can get from them if you send them £1

FOS will get anything needed though if it goes that far and you don't need specifics to complain. Most started at less than 9%, mine 7.9% or close to that.

DontAskDontGet_2

Denza wrote: »

May the FOS be with you!

Lol nice Denza.

For those looking for the details of their rate increases/notifications, you should be able to find these in the email account you were using for correspondance with your Cahoot account. If you can get hold of these, they will probably be very useful when your claim is judged by the FOS.

If you aren't sure what to do next, I would recommend phoning the FOS directly. The gentleman I spoke to was very helpful and raised the complaint while I was on the phone.

Once he's raised the complaint, Santander have the opportunity to get back to you and discuss the matter. If the matter does not get resolved to your satisfaction, you can then send in all the relevant information about your case to the FOS, for the adjudication.

oracleman

After I complained to the FOS Santy wouldn't even talk to me anymore said everything had to be done thro FOS.

Could also mention to the FOS that Santy withdrew the option of being able to borrow extra and pay other accounts from the loan (direct debits) They also withdrew the on-line facility as well and decreased most peoples credit limit downwards.
Hardly a flexible loan any more, and they base their high rates on the features of the 'flexability'

Good luck everyone with the FOS.

kenny_straw

...Just to note , the lady I spoke to from the FOS said as a ball-park figure it would be 6months before any agreement....

It would be good if MSE raised awareness of the behaviour of Santander on this one, as soon as this went viral on the website the payouts stopped. It would be good to get some sort of official line on this from them (Santy), why is one person entitled to a 'goodwill gesture' ...and not another!

Lets hope the FOS claimants can get them in the long grass!!

oracleman

kenny_straw wrote: »

...Just to note , the lady I spoke to from the FOS said as a ball-park figure it would be 6months before any agreement....

It would be good if MSE raised awareness of the behaviour of Santander on this one, as soon as this went viral on the website the payouts stopped. It would be good to get some sort of official line on this from them (Santy), why is one person entitled to a 'goodwill gesture' ...and not another!

Lets hope the FOS claimants can get them in the long grass!!

Is that 6months for the FOS to decide on your claim, or 6 months for the FOS to reach agreement with Santy on what to do with the whole mess