Newbie needs advice please Cahoot Flexiloan

[CleverClogs (RIP)]

Re: Newbie needs advice please Cahoot Flexiloan

I am trying to establish if I need to respond to Nelson & Co within the seven days and if so, with what? I am presuming that as Santander are investigating my dispute/complaint that Nelson's would be in the wrong to instigate proceedings? Or am I wrong here?

As more than seven days have now elapsed without the sky having fallen, or Nelson, Guest & Letterhead-For-Hire having issued a claim "on behalf of Wescot who are acting on behalf of Santander", it should now be apparent that the threat to sue was just that. It was just a threat that was meant to cause you anxiety or even to pay up at once, without even a true reckoning of how much Santander claims you owe.

From the above, it should be obvious that Wescot only have an equitable assignment of the alleged debt, so they may not be able to instigate proceedings themselves.

Nelson, Guest, Shyster and Flywheel should be reported to the SRA for that naughtiness.

[PlanB]

Re: Newbie needs advice please Cahoot Flexiloan

Hope I've got this right but I'm trying to follow your two threads at the same time

I think you've said you took out a loan with A & L for 10k at a rate of 5.8% variable which is now 17K-ish. Are you sure it was *variable* or was it 5.8% when you took it out and it got varied by Santander when they took over A & L which may explain most of those added charges?

If so (and I may be wrong) this was the basis of the FOS Decision which resulted in Santander paying back £1,000s to borrowers who had been victim of their rate-jacking practice, even though there may have been a clause (a jolly unfair one if you ask me) which allowed them to do this as long as they wrote and told you seven days in advance Did Santander increase your rate from 5.8% (what % is it now?) and did they write and tell you in advance each time they did this?

Didn't you say that Santander has already admitted that the DN was for the wrong amount, so if this refund becomes due too wouldn't that make the DN completely useless to them preventing enforcement in court anyway

If it was me I'd read Oscar's thread, track down the FOS Decision and see whether you could be entitled to a refund. There are experts on this site to help with that line of enquiry. If Santander doesn't agree then you could take your complaint to the FOS which has an understanding that creditors won't issue legal proceedings while an investiagtion is under way. That's the idea anyway.

Just a thought because it would be nice to see this turning from a settlement issue into a whopping reclaim issue

I hope your wife had a great birthday weekend too

EDIT: would it help the mods if bosdog's 2 threads became just one thread in the debt forums?

[bosdog]

Re: Newbie needs advice please Cahoot Flexiloan

Hi there Plan B
The original loan was a Cahoot Flexiloan with a credit limit of 10k

The paperwork shows
"the APR for withdrawals and balance transfers is 5.8% variable"
"in calculating the APR we have ignored any changes to the interest rate, fees or other charges we may introduce or vary under the general condition 12 of the cahoot account terms and conditions"

Loan was signed for Sep 2004

statements received from SAR sent to Santander (who took over Cahoot) show
Start of loan Oct 2004 "Debit Interest 005.6500%"
Nov 2005 "008.2000%"
July 2006 "008.5500%"
Sep 2006 "008.7700%"
Decd 2006 "014.0000%"
Sep 2007 "014.8400%"
Aug 2008 - Feb 2010 "016.6100%" last payment was in June 2008 to Cahoot by Cheque
Santander took over the loan March 2010 rate increased to 17.9400%

After this I heard nothing until Alliance and leicester was taken over by Santander and therefore my A&L Current acc became a Santander ca and my Current account statement then started coming through showing a "loan account" in addition to the current account.

Hope this makes sense

In my phone call to Santander I was told specifically that the "amount is wrong..... and that no further action would be taken whilst this was being looked at by a line manger"
This was reported to them by my letter 13th Dec 2011, I believe they have 8 weeks to respond?

Thanks to all for helping
bos

[PlanB]

Re: Newbie needs advice please Cahoot Flexiloan

So the threat of 7 days to pay or else legal proceedings by Nelson Guest solicitors (i.e. Westcot) is for a debt which is an amalgamation of a bank current account and a loan regulated by the CCA 1974 Can they really take you to court for that combo

Someone more clever (hint hint see post #12 in your other thread) than me will come along to explain how to handle this pursuit of your bank account

I've noted that the Cahoot loan APR increased from 5.8% to 17.9% under Santander's reign. I hope Oscar's seen this too

If Niddy says don't worry, he means don't worry

[bosdog]

Re: Newbie needs advice please Cahoot Flexiloan

Hi PlanB
Sorry to be so confusing
The Westcot balance is only for the cahoot loan, forget my A&L current account. What I was trying to explain is that a combination of 2 things put me on the radar with Santander
1. Santader taking over cahoot
2. Alliance an Leicester becoming part of Santander.

Hope I am making sense?
All the best
Bos

[bosdog]

Re: Newbie needs advice please Cahoot Flexiloan

Hi All

Have received letter today from Santander
"its now been 8 weeks......we are still investigating....you can go to fos if you do not want to wait for us"..........

It would be great if they come back and knock off rate jacking charges and some extra interest due to the time they took to default, but they may not. I need to buy time to get some decent funds together to stave off a court demand if one comes knocking.

I think 6 months would give me this. If I go to fos now may that give me more time or is this a non starter?

Thanks to all for keeping me sane

Bos

[PlanB]

Re: Newbie needs advice please Cahoot Flexiloan

Hi All

Have received letter today from Santander
"its now been 8 weeks......we are still investigating....you can go to fos if you do not want to wait for us"..........

It would be great if they come back and knock off rate jacking charges and some extra interest due to the time they took to default, but they may not. I need to buy time to get some decent funds together to stave off a court demand if one comes knocking.

I think 6 months would give me this. If I go to fos now may that give me more time or is this a non starter?

The FOS turnaround time is about a year so you that will definitely buy you time, and you may even get a good result with comp for stress and inconvenience too

But to win you need to be prepared so get all the paperwork together first to present your rock solid complaint. The FOS can be lazy and may rely only on what you send and what the company submit which can be scanty (in order to con the FOS in my humble view).

Once you've told Santander you're off to the FOS they should put your account on hold - request this anyway and get it in writing for any future DCA nonsense. You have six months from the Santander Final Response letter to refer to the FOS. They're very strict with this deadline too. In this case you've only had an interim letter but you can still go to the FOS because the 8 weeks to resolve the complaint is up.

I have no idea whether the FOS is the correct next step for you so wait for a mod to advise sensibly

[CleverClogs (RIP)]

Re: Newbie needs advice please Cahoot Flexiloan

The FOS turnaround time is about a year

Fixed On Slow?

[bosdog]

Re: Any suggestions please?

September 2004 loan 10k @ 5.8% variable paid up to
June 2008 hit personal problems, last payment and showing 10k os
Head in sand

Heard nothing till
Jan 2011 Cahoot loan appeared on my Alliance and leicester current account statement ( now a Santander Statement) showing at £15k
Ignored

18/02 letter from Santander "we are writing to tell you about an internal admin error.......we may not have written to you with regards to arrears on your account" arrears £371 loan £15k
Ignored

17/03 From Santander "notice of missed payment"
Ignored

04/04 From Santander "second notice of missed payment"
Ignored

06/07 Default notice served areears £1911 to balance £16k

16/07 Sent cca to Santander

27/07 received cca from Cahoot
Niddy says enforceable

02/08 Letter from Debt Management & Recovery Services
"we have been instructed by Santander to recover arrears of £2.3k"
Ignored

09/08 SAR sent

08/09 received 2004-feb 2010 account sheets printed on un headed paper and 5 screen shots form Santader pc showing 2010-2011 account info
Ignored

08/10 intention to issue default letter from Santander call us to discuss payment options

14/10 called collections to discuss payment options was told that account should have defaulted earlier, outstanding amount needed to be re-calculated, would talk to line manager, no interest or action would be added/taken till sorted. Told to ring back in a few weeks

12/11 letter confirming termination of account arrears 3.9k

05/12 letter received "westcot will be our agent and act on our behalf"

13/12 Sent Account in dispute due to phone conversation of 14/10 and that unfair interest had been applied to account

20/12 Letter from Santander "investigating complaint"

28/12 Letter from Nelson Guest, "instructed by Westcot.. offer a discount... call or offer rejected for full amount"
Ignored

18/01/12 Letter from Santander " still looking into.... need 4 more weeks"

18/01/12 Letter from Nelson Guest "7 days or legal action may be taken"

28/01/12 letter from westcot re doorstep collector

03/02/12 sent only communicate in writing letter

14/02/12 letter from santander, still investigating....now been 8 weeks since first contact

[IF]

Re: Newbie needs advice please Cahoot Flexiloan

bosdog, I have moved this post from the old thread --- > Any suggestions please? - allaboutFORUMS
Think its best to keep everything here now.

IF...x

[PlanB]

Re: Newbie needs advice please Cahoot Flexiloan

Bosdog. Welcome back to your old home.

You've said you're getting chased by Santander for two separate products which the bank has combined into one monthly statement which is most strange You have a Flexiloan (previously Cahoot) which Niddy has said is enforceable once he saw the CCA. You also have a current account (previously A & L).

You've made a formal complaint to Santander about the Flexiloan (not the current account?) but I'm not sure of the basis of that complaint. But you made it before you were guided to Oscar's thread on others' successful rate-jacking refunds following a FOS Decision, so it may not include that issue. Santander are taking their time investigating your complaint while a DCA and their solicitors are making legal threats about both products. Does that sum it up about right

Niddy has started an exciting new trend of sending a template letter to creditors to fight back with overdrafts using bits and bobs from the CCA 1974. Clever Clogs is tirelessly posting up links about this bit of useful legislation including on your old thread

So I'll back off now and leave it to the mods

[CleverClogs (RIP)]

Re: Newbie needs advice please Cahoot Flexiloan

Niddy has started an exciting new trend of sending a template letter to creditors to fight back with overdrafts using bits and bobs from the CCA 1974. Clever Clogs is tirelessly posting up links about this bit of useful legislation including on your old thread

So I'll back off now and leave it to the experts

I certainly do not consider myself to be an expert on anything, least of all matters of consumer credit law.

[PlanB]

Re: Newbie needs advice please Cahoot Flexiloan

I certainly do not consider myself to be an expert on anything, least of all matters of consumer credit law.

I didn't name names. I just meant a mod who will obviously know more than me on which direction Bosdog should go next since he's asked that question.

Sorry if I've caused you any offence that's not what I intended

[CleverClogs (RIP)]

Re: Newbie needs advice please Cahoot Flexiloan

I didn't name names. I just meant a mod who will obviously know more than me on which direction Bosdog should go next since he's asked that question.

Sorry if I've caused you any offence that's not what I intended

I was not in the least offended - indeed, I was rather flattered - but I did want to be quite sure that I would not believe such praise to be justified, nor would I wish any of my amateur musings to take the place of cogent and professional advice.

[bosdog]

Re: Newbie needs advice please Cahoot Flexiloan

Hi PlanB
I am getting confused now!
Santander send me a statement showing my current account (in credit £30) used to be A&L current acc
and my Loan Balance (original cahoot flexiloan) now owned by Santander standing at @ about 16k o/s