Advice Needed: Cahoot and Default (unfair bankcharges)

phutchinson

Hello All,

I'm a lurker looking for advice. At the end of 2014 (due to my husband being out of work) we went over our £500 overdraft limited with Cahoot. The overdraft charges started going on and account went from: Oct 14: £497 November: £775 December: £1,285 to finally January 15: £1,601 (where it has remained). My husband picked back up of work from end of 15 and now we are financially stable.

Now, I'm happy to pay the £500 overdraft - but I'm really not happy to pay the excess of theses charges - and at the time we did inform the bank we were in financial difficulty: Infact, the over excessive charges on this account (with direct debits etc) actually caused some of the hardship.

So now its 2017 - I've been trying to gain access to all my statements to write a letter (thats been with great difficulty, cahoot rejected the first letter and have moved mid the second letter being sent). All the while I have a default on our credit scores.

As we are currently looking to move house, what in your opinion would be the best plan of action? Should we offer to pay the £500? or should we place a note on our credit file and fight the charges (I think we could be owed a few £k)...

Whats the best plan if we are looking to move ASAP?

Any advice greatly appreciated.

[Deleted User]

Pay the lot.

Nebulous2

It's hard to show that the charges caused hardship if you didn't pay them.

I think you have a mountain to climb to get a mortgage while this situation is unresolved and would agree with ZX81. Pay it off to get itr marked as settled, which wouldn't stop you continuing to pursue a complaint.

a subject access request (SAR) will cost you £10 and will get you all the information they hold on you, which should include the statements.

Moneybutterfly

What about complaining to the financial ombudsmen ? It worked out for me.

phutchinson

Hey, I'm unwilling to pay £1000 in charges, especially when they placed them on over 4 months. I think thats unreasonable [so £250per month]. I've sent away for all the statements and considering contacting the financial ombudsmen. Moneybutterfly did you have a similar situation?

phutchinson

Also - if I pay it, can I then pursue it? And would it remain as a default?

forgotmyname

It will still remain as a default. Its just currently unsettled. When you pay, it should be marked as settled which is better if your intending on borrowing before its wiped from your credit file in 6 years.

meer53

What did they say when you told them you were in financial hardship ? Banks usually offer to freeze charges for a while once they're aware of this. Did they do it for you ?

The banks won the unfair bank charges court case in 2009 so i wouldn't mention that if i were you.

phutchinson

Hey,

Thanks for all the advice - they were not very helpful when we called them, said they couldn't do anything. I'm going to phone and pay them tomorrow - and ask for the default to be removed. Once I do this, I'll tackle unfair bank charges.

Wish me luck! Thanks again