Cahoot flexi loan / Santander REFUND WOW

Hotcakes_Debbie · 10 September 2011 at 2:57PM

Hi
I'm new to all this but was so excited about a letter from Santander this morning offering me £4866.96 back.
I too noticed recently that when they took over the Cahoot loan they increased the interest rate to 21.94% from about 8%.
So thought i would write a letter to get the ball rolling etc...:) how I felt this was excessive and didn't have any correspondence from them about the take over, it was only a few lines 3 weeks ago!!!!
They did state they are NOT at fault and this was a good will gesture! hey but if I wasn't guilty of wrong doing I wouldn't pay up!

Just waiting for them to credit my account, so watch this space....
Deb:)

DON79 · 10 September 2011 at 3:07PM

congratulations

InsertWittyName · 10 September 2011 at 4:02PM

Interested in the content of the letter you sent, if you wouldn't mind sharing it?

chanz4 · 10 September 2011 at 5:07PM

you wont get any more than that back, green eyed monster

Hotcakes_Debbie · 10 September 2011 at 7:30PM

What do you mean chanz4 ?

Hotcakes_Debbie · 10 September 2011 at 7:39PM

Will post letter and all info once i receive refund ( don't want to count my chickens....)

patfla · 14 November 2011 at 11:49AM

For the past 3 months they have reduced my interet to zero from the sky high rate.
I asked them why via telephone and they stated that they looked at the account and decided to reduce the rate to zero per cent.
Again accepting no responsibility for my complaint.
I have now written TWICE to them to explain why they have reduced the rate,from what date does the zero per cent interest rate commence,and am I due a refund of funds after paying the high rate for so long.Needless to say they have not answered as yet,will keep all informed

arbroath_lass · 14 November 2011 at 2:24PM

I received over £3000 from Santander on Friday. Good to hear others are getting theirs too. I was a bit it concerned something odd was going on.

Kira000 · 14 November 2011 at 5:52PM

I sent a complaint about my cahoot flexi yesterday, following another post on here from Harry, and have had a preliminary response acknowledging the complaint today, and assuring me they would be investigating.
I will be interested to see what they say, as i think my account was opened in 2000, and finally closed (with help from a cheaper loan) last year. Off on mat leave soon, so anything i got offered back would be a super bonus!

Well done you!

Cell · 14 November 2011 at 10:54PM

This was referred to in this thread yesterday

http://forums.moneysavingexpert.com/showthread.php?t=3578349

I can't pretend that I fully understand why the refunds are being given and as such don't quite know what to write.

I paid mine off a couple of months ago, but the interest rate certainly changed over time.

Any template that people have used would be greatly appreciated, thank you.

arbroath_lass · 14 November 2011 at 11:05PM

All I wrote was -

Account : XXX

I write to raise a formal complaint on the above account. The account was taken out on XX/XX/XXXX with the company Cahoot. I understand Cahoot was taken over in the 2009/2010 period by Santander who had bought the parent company Abbey.

The account was excellent until October 2006 when the company imposed massive interest rate hikes. These interest rate rises continued until the account was settled in XXX XXXX.

I wish to complain that these rate rises were unfair and the rate rises and final rate were unreasonable.

This was based on advice from Harry6854 (the OP on the other thread).

Cahoot flexi loan / Santander REFUND WOW

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