Cahoot and Consumer Credit Act

[hopkinson]

I have sent a letter requesting a copy of the credit agreement and a full breakdown of the account including any interest or charges applied. They have replied within 5 days with a copy of the Cahoot Credit agreement for a flexible loan duly signed by me and them. I cannot see any reference to APR or interest rate charged - is that right? They have also not sent any information on the breakdown of the account? Can anyone give advice?

	Are you letting your bank keep your money Are you giving away thousands of pounds?? Many people aren't claiming all of the money they are entitled to when they make their bank charges claims. You have been forced to pay unfair bank charges. Have you forgotten that your bank has charged you inteest on those charges? If you are overdrawn and the bank owes you charges - then your overdraft is made up of charges - money which you bank owes you. Yet you are paying interest to the bank - on your own money!!! Follow this link to see the discussions on this. You might even double th size of your claim.

[Fred Bassett]

Originally Posted by hopkinson

I have sent a letter requesting a copy of the credit agreement and a full breakdown of the account including any interest or charges applied. They have replied within 5 days with a copy of the Cahoot Credit agreement for a flexible loan duly signed by me and them. I cannot see any reference to APR or interest rate charged - is that right? They have also not sent any information on the breakdown of the account? Can anyone give advice?

Hi hopkinson,

Are you able to scan the document (remove personal details and barcodes) and post it up here? It would help to get your question answered properly.

Regards.

Fred

	Are you letting your bank keep your money Are you giving away thousands of pounds?? Many people aren't claiming all of the money they are entitled to when they make their bank charges claims. You have been forced to pay unfair bank charges. Have you forgotten that your bank has charged you inteest on those charges? If you are overdrawn and the bank owes you charges - then your overdraft is made up of charges - money which you bank owes you. Yet you are paying interest to the bank - on your own money!!! Follow this link to see the discussions on this. You might even double th size of your claim.

[hopkinson]

Struggling to send the scanned document. I have saved as a Word document.

[Fred Bassett]

Originally Posted by hopkinson

Struggling to send the scanned document. I have saved as a Word document.

Be careful if you post word documents in public. They can contain data tha identifies you. Look at File>Properties and see if your name is anywhere in the various sections.

Regards.

Fred

[silverfox1961]

Morning hopkinson
please try to scan again but try using the photo scanning part and then save as a Jpeg image then if you can use the following tip i stole from Fuzzybobble


It seems tricky at first, but is fairly simple really.

1, Scan your DCA letter/whatever you want to show on the forum.
Ideal setting is 100dpi as it's closest to computer monitor display resolution.

2, Save the scanned image as a jpeg

Step 2.5 Edit out any personal information, barcodes or any other comments, notes or markings around the edge of the document. Never change the original document you received

2.5, Load the saved image into MS Paint. (comes free with Windows.) Use the pain brush or spray can to remove/paint over any personal info, such as name, account number, address, etc. Also remove any barcodes, as some DCAs may be able to identify you from these.

3, Create an account on Photobucket.

4, Once you have a Photobucket account, you'll find on the main webpage little box where you can upload photos. Click the "upload image" box and then tell it where on your hard disk you saved your scanned jpeg. It will then upload the image to Photobucket and it will show you thumbnails of the images you have uploaded. Under each image there are links that you can copy and paste.

5, Copy the IMG link below the image you want to put on the forum. Then reply to thread on CAG. Right click with the mouse and select "paste" from the little menu that pops up.

6, You'll then get some text appear in your message that looks a bit like this.

[IMG www. photobucket.com/fuzzybobbe/imagename.jpg{\IMG]

When you submit the reply, the text will change into the image you uploaded onto photobucket. The text you copied and pasted is just the information the forum needs, so it knows where to find your photo and display it in your message.


Courtesy of Fuzzybobble


good luck


fox

	Debt collection library Follow this link to our debt collection library. This library contains templates and advice for dealing with debt collectors who act oppressively or unfairly. This library is work in progress and will be built up over the next few weeks. 17.03.09

[hopkinson]

At last I have done this thanks to some help from a colleague.

[hopkinson]

Is there anyone that can confirm if the above is all as it should be. It does not quote the interest rate and I am also concerned that they have not sent me any statements showing what I have been charged.

	Are you letting your bank keep your money Are you giving away thousands of pounds?? Many people aren't claiming all of the money they are entitled to when they make their bank charges claims. You have been forced to pay unfair bank charges. Have you forgotten that your bank has charged you inteest on those charges? If you are overdrawn and the bank owes you charges - then your overdraft is made up of charges - money which you bank owes you. Yet you are paying interest to the bank - on your own money!!! Follow this link to see the discussions on this. You might even double th size of your claim.

[postggj]

cant see sig box or date of agreement
have you deleated them to cover up your sig

[postggj]

cant see cancelation rights or am i blind

[hopkinson]

thanks for replying was getting worried. Signature box was there and was dated and also signed by their representative but these have been removed. There are no cancellation rights and no referral to interest.

	Are you letting your bank keep your money Are you giving away thousands of pounds?? Many people aren't claiming all of the money they are entitled to when they make their bank charges claims. You have been forced to pay unfair bank charges. Have you forgotten that your bank has charged you inteest on those charges? If you are overdrawn and the bank owes you charges - then your overdraft is made up of charges - money which you bank owes you. Yet you are paying interest to the bank - on your own money!!! Follow this link to see the discussions on this. You might even double th size of your claim.

[postggj]

not my area credit card agreements. to me it looks a lemon but dont take my word for it, plenty of people been down this road and will advise

[hopkinson]

Are there any moderaters with more knowledge that can give me some info before I reply back to them?

[duckegg]

Hi my credit agreement from Cahoot has arrived today exactly like the one above, it mentions no terms as its a flexible loan, but also it doesn't mention amount of credit borrowed?? does this mean its unenforceable? What do we do now?

thanks

[hopkinson]

It seems we need to know two things: 1. should the agreement have clearly stated an interest rate and 2. should it have had a cancellation clause. I have had my docs on here since last week and am disappointed that noone has come in with advice.It may be too complext. I have contacted National Debtline who said it sounded suspect but advised me to take the document to the Office of Fair Trading for them to look at. I am also going to ask advice from my employer who has an up to date legal background. I will keep you posted.

	Are you letting your bank keep your money Are you giving away thousands of pounds?? Many people aren't claiming all of the money they are entitled to when they make their bank charges claims. You have been forced to pay unfair bank charges. Have you forgotten that your bank has charged you inteest on those charges? If you are overdrawn and the bank owes you charges - then your overdraft is made up of charges - money which you bank owes you. Yet you are paying interest to the bank - on your own money!!! Follow this link to see the discussions on this. You might even double th size of your claim.

[kstaplet]

i'm awaiting my CCA from cahoot as well regarding a flexible loan - sent to coventry but got a reply from Bradford returning my PO last wee saying no charge for CCA (but no actual CCA) - original letter sent 20th November...
If/when i get something from them, i'll see if its the same as yours (sem to be taking their time though!).

[hopkinson]

have taken some advice and under the interest rates and APR section it says "The APR is calculated on an assumed credit limit of £100 when the credit limit was much higher. All other interest rates refer to withdawals or balance transfers or the minimum payment but nowhere does it give the the APR. This would come under the Consumer Credit Act as an unfair agreement or even an extortionate credit agreement and on that basis I am writing to them again to get confirmation of the APR and also ask for my statements with all charges clearly identified. I will then put a complaint straight into the OFT if I am not satisfied with their reply.

	Are you letting your bank keep your money Are you giving away thousands of pounds?? Many people aren't claiming all of the money they are entitled to when they make their bank charges claims. You have been forced to pay unfair bank charges. Have you forgotten that your bank has charged you inteest on those charges? If you are overdrawn and the bank owes you charges - then your overdraft is made up of charges - money which you bank owes you. Yet you are paying interest to the bank - on your own money!!! Follow this link to see the discussions on this. You might even double th size of your claim.

[hopkinson]

have received agreement and statement back finally. The statement shows that the account has gone from 9% to 20%interest charges. Have contacted Ombudsman who confirms they cannot do this and has advised to put in a complaint. Have confirmed to Cahoot that this is my next step and they have 28 days to deal totally with the complaint or I go forward with Financial Ombudsman

	The Financial Ombudsman Service For the most part, don't bother. The Ombudsman is an industry arranged service which is under-resourced, takes too long, lacks clear transparency. You have no idea what evidence the FOS has received from the bank or how your complain has really been handled. The FOS is the preferred complaints route for the banking industry. The county court is to be preferred by consumers for its speed, openness, the quality of its awards and also because it will award 8% interest on top of any damages won by you. The Ombudsman should normally be used to solving little technical difficulties or customer service problems which you have expereinced with your bank.

	Are you letting your bank keep your money Are you giving away thousands of pounds?? Many people aren't claiming all of the money they are entitled to when they make their bank charges claims. You have been forced to pay unfair bank charges. Have you forgotten that your bank has charged you inteest on those charges? If you are overdrawn and the bank owes you charges - then your overdraft is made up of charges - money which you bank owes you. Yet you are paying interest to the bank - on your own money!!! Follow this link to see the discussions on this. You might even double th size of your claim.

[Fred Bassett]

Hi Hopkinson,

You've stated that the APR is not displayed, yet in your copy agreement it clearly says "the APR for withdrawals and balance transfers is 9% (variable)" and above that it states there is a monthly interest rate of .7208%.

A I missing the point?

Regards.

Fred

	Are you letting your bank keep your money Are you giving away thousands of pounds?? Many people aren't claiming all of the money they are entitled to when they make their bank charges claims. You have been forced to pay unfair bank charges. Have you forgotten that your bank has charged you inteest on those charges? If you are overdrawn and the bank owes you charges - then your overdraft is made up of charges - money which you bank owes you. Yet you are paying interest to the bank - on your own money!!! Follow this link to see the discussions on this. You might even double th size of your claim.

[Fred Bassett]

Hopkinson,

Also, you seem to have posted the first page twice. There should be a second page with your signature on it. This probably contains the statement about cancellation rights. Your agreement seems to be identical to mine. Did they send you a second page?

Regards.

Fred

[hopkinson]

I did miss the 9% for withdrawals as I thought that the reference to the APR would be for the loan and not "withdrawal" although I soon realised that the two would be the same. Had so much trouble getting the agreement onto the thread that I messed up. However, I have the agreement which was double sided and nowhere does it say about cancellation. The second page is devoted to a column on the data protection statement and the second column says IMPORTANT-YOU SHOULD READ THIS CAREFULLY - YOUR RIGHTS. One paragraph on the CCA.One on settling early and one para which says "If yu would like to know more about the protection and remedies provided under the Act, you should contact either your local Trading Stadards Department or your nearest CAB. Then the signature box. Am I right in thinking the cancellation clause may have been in the original letter sent with the CCA. I am also pursuing,on the advice of the Financial Ombudsman, the fact that the interest has gone from 9% and is now 20% which
is within the "extortionate credit" range and that I was lured into unsustainable debt.

	The Financial Ombudsman Service For the most part, don't bother. The Ombudsman is an industry arranged service which is under-resourced, takes too long, lacks clear transparency. You have no idea what evidence the FOS has received from the bank or how your complain has really been handled. The FOS is the preferred complaints route for the banking industry. The county court is to be preferred by consumers for its speed, openness, the quality of its awards and also because it will award 8% interest on top of any damages won by you. The Ombudsman should normally be used to solving little technical difficulties or customer service problems which you have expereinced with your bank.

	Are you letting your bank keep your money Are you giving away thousands of pounds?? Many people aren't claiming all of the money they are entitled to when they make their bank charges claims. You have been forced to pay unfair bank charges. Have you forgotten that your bank has charged you inteest on those charges? If you are overdrawn and the bank owes you charges - then your overdraft is made up of charges - money which you bank owes you. Yet you are paying interest to the bank - on your own money!!! Follow this link to see the discussions on this. You might even double th size of your claim.