Bah! Cahoot flexi-loan shocker!

dhassen

my cahoot started at 12.9, then went to 14.9 and now it's at 19.9.... I've not moved it because I kept getting declined for stuff about a year ago

Donedoingdebt

minibudgetgal wrote: »

I am shocked at how easy it is to overspend to be honest. But a bit pleased, that with planning and being more than careful (like really bloody tight!) I can clear it.
Thanks for your support

I think that's how the majority of us ended up on this site!
I believe this is what's known as your LBM. Keep it up & you may actually start to enjoy budgeting your finances & being in control.

PENNYWISE_3

Increasing interest rate is exactly how the banks make their money - tempt you with nice (ish) interest rate for an introductory term and hope you won't notice it increasing!

At least you know now and can do something about it - think of all the money you will save if you can transfer balance to a cheaper rate.:D Might be worth phoning up & trying to blag cahoot into giving u cheaper rate if you can't do better elsewhere - tell them u thinking of leaving - they'll want to keep ur custom so may well give u better terms. U can but try!

Good luck.

dhassen

I think cahoot have stopped all types of lending haven't they? They just fob you off with abbey - I tried abbey and they offered me a loan - guess the apr??? 19.9..........

Lemon_Tree

looks like i was lucky, i swapped my flexi loan for a fixed loan a couple of years ago before the rates started to rise. My problem was i would pay off more than the minimum and then borrow it back every couple of months, so i never really moved.