2002 Cahoot\Santander flexi loan

[troytess]

Hi,

I am new to the forum, and after a little bit of advice regarding a Cahoot Flexi Loan dating back to 2002 which they suggest still has a balance of £4600. I have received a CCA and separate terms and conditions for this account but suspect that the prescribed conditions may be vague enough for me to challenge this. I have not paid anything since last year as I can see that the interest rates rose from around 7% when I first opened the account to close to 21% when I defaulted back in 2010.

I did raise a formal complaint with Santander regarding the interest hike last year, but they dismissed it advising that I should have complained at the time and that too much time has passed since. I have calculated that they have added more than £5000 in interest above what they should have.

I am challenging this on 2 fronts, as i believe that the interest hikes were unfair and unreasonable, and also that the prescribed terms and conditions did not have any cancellation info and no credit amount or limit. It did however have the phrase "we will tell you from time to time what your credit limit is"

Has anybody had any success challenging these agreements.

Apologies if this is a bit vague.

[The Tech Clerk]

send the CCA copy of no crossing out detail to:- webmaster@all-about-debt.co.uk for checking referring to this account for checking enforceable or not

[The Tech Clerk]

start a diary of events throughout on this thread and update as necessary as time goes by, by the way welcome

[troytess]

Hi,

thanks for the quick response. I don't have access to a scanner at the moment as I am working from home. Would it be OK to post a link to MoneySupermarket website that has a hosted agreement that has been posted to their forums that is the same as mine?

[The Tech Clerk]

Phone camera. ?

[The Tech Clerk]

Never-In-Doubt

[Joanna Connolly Solicitors]

Would it be OK to post a link to a website that has a hosted agreement that has been posted to their forums that is the same as mine?

Hello

No two debts are the same. Comparing your credit agreement to one posted on another forum is not a good idea so no need to post any link.

Email it to Niddy for an opinion first and then we'll take it from there.

Even if the agreement is perfect there are many reasons why a debt can be unenforceable in court.

I can see that you raised a complaint with Santander last year - did you refer it to the FOS after they rejected it?

Di

[troytess]

Thanks Di, I will take a pic and email it to Niddy tomorrow. No, I didn't follow up complaint with FOS.

I am not looking at redress or such and perhaps wrongly thought that should this get to court I could fight the interest hike there. I believe that I have paid this back as the amount owed was due to the interest hike and charges. I am hoping to offer them 20% final settlement, but trying to ascertain where I stand if they reject it.

Thanks for all your help in this, it is very much appreciated.
Cheers,
Andy.

[cymruambyth]

Welcome to AAD. Just to add to everything already said, don’t speak to them or offer anything until the agreement has been checked and you have posted on here.

[troytess]

Thanks all, I have sent the agreement through to webmaster.

[troytess]

Hi,

i have emailed the terms and conditions now.

[Joanna Connolly Solicitors]

I have sent the agreement through to webmaster.

i have emailed the terms and conditions now.

And what was the verdict?

Di

[troytess]

Hi Di,

they look to be enforcable. Weird how Santander not really chasing me yet though. It has been with Moorcroft and Robinson Way who both returned it to Santander.

I'm just waiting to see what happens next at the moment and I still haven't Sarred them yet.

[Joanna Connolly Solicitors]

Hi Di,

I'm just waiting to see what happens next at the moment and I still haven't Sarred them yet.

And then what happened

Silence from Santander or assignment to a debt purchaser?

Di

[troytess]

HI Di, it was assigned to Drydensfairfax solicitors and I got a letter about 3 weeks ago asking me to contact them to arrange an affordable payment plan. I sent a letter to them advising that I dispute that I owe the money and sent a SAR to Santander about a week ago.

Are Drydens just another DCA or is this a sign that they are heading towards county court?

Due to the amount of interest hikes on the account (6.9% to 22%) I am specifically looking for the letters advising of these interest hikes in the SAR, as that is the main reason for my dispute. Is there anything else that should be there that I should look for?

Thanks for your help with this,
Andy.