Santander - Cahoot Flexible Loans

garethplant1970

I wondered if anybody out there still had a Cahoot Flexible Loan? I took one out back in 2004 and am still paying it back today after they decided to 'call in' the loan back in 2009.

Would be interested to hear if anyone out there still has an 'active' loan with them?

jonesMUFCforever

If you look south of your posting you should see a massive thread about Santander/Cahoot flexible loans.
Nearly 1400 posts! - Have a look there - good luck.

garethplant1970

I do need some advice on Cahoot - Santander. I allegedly defaulted on my Cahoot Loan early 2009, after i moved home September 2008 and stupidly forgot to update my address details with them. The same month i moved they called in my loan after i was late on a payment and subsequently stopped calling for the payments from my bank account. I received no correspondance from them even though they allege they sent them to me.

I have denied to this day that 'i' defaulted on the loan but have been unsuccessful to have the default removed from my credit file to date.

I have asked for proof of notices, warning letters etc. and as to date i have never seen one piece of evidence.

Apex Credit Management deals with my 'defaulted' loan now, does that mean it was sold to them, as a number of times they have thrown settlement offers at me?

The reason i ask as i like many have tried to get my 'defult' removed but appealing to Santander is a joke.

I have tried several routes with little success. In a last attempt to buy myself out of this mess i have read that you can sometimes 'bargain' with the company to get it removed if you offer to clear the debt if they agree to removed the default.

Has anybody had experience with that or any advice would be appreciated.

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TIGHTER CONTROL ON ISSUING DEFAULTS IS NEEDED - STOP BIG ORGANISATIONS RUINING PEOPLES LIVES!

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Apples2

Why are you disputing a default when you acknowledge you stopped making repayments?

garethplant1970

Where did i say in the post that i stopped making payments? I said they stopped taking payments from my bank even though my direct debit was still active.

jonesMUFCforever

So you had the money in your account and as soon as correspondence came through wanting you to make up the missed payments you could have sent them a cheque or have I missed something?

garethplant1970

Yes the money was there in my account. In all the loans I have had I have never had a lender terminate a loan agreement. There was no notification that they had terminated the loan or were about to terminate the loan agreement and the sum which was due or would be due as a result. As far as I was aware payments were still being taken monthly. When I disputed the fact they said it was my responsibility to ensure the loan payments were made even though I had a direct debit on the account which they informed me they didn't call for as they had terminated my loan agreement.

garethplant1970

Sorry to answer the question I would not have been able to send them a cheque as they wanted the full amount settled which was £10,000 as the loan agreement had been terminated which in their terms and conditions they had a right to do.

jonesMUFCforever

''As far as I aware they were taking payments monthly'' - how can you say that when obviously you never looked at your bank statements or noticed a much higher balance than should have been on there?

garethplant1970

No i didn't notice as i had quite a lot of money in my account at the time as i had a well paid job. That doesn't make what i did wrong, it may seem a little careless but i have direct debits on all my payments so i don't need to worry about paying them on time.

garethplant1970

Have you experienced a credit default?