jellybabe vs Cahoot Flexi Loan

[jellybabe]

Another message that my interest rate will go up again.23.2% for a Loan??!!

 

i've had enough of this!

 

Will send my CCA request off tomorrow morning. Let's hope they can't find anything. I applied for it online....but that was way back in Sept 2002.

Oh well, will see what they come up with.

[dpick]

Another message that my interest rate will go up again.23.2% for a Loan??!!

 

i've had enough of this!

 

Will send my CCA request off tomorrow morning. Let's hope they can't find anything. I applied for it online....but that was way back in Sept 2002.

Oh well, will see what they come up with.

 

Hi Jellybabe I only have one loan and this one has enforceable agreement but the one thing I did find was that the loan was fixed rate when you get doc's from CCA request check them for this though as flexi loan this maybe part of the terms and conditions.

 

dpick:)

[jellybabe]

Thanks dpick,

i think it was part of the conditions.It's just a bit annoying, as soon as they smell trouble they put the interest rate up. It happens every few months. getting really hard to pay back now.

They won't help with lower payments and they didn't let me convert it into a fixed one when i asked a while back.

I mean, what else can i do than hoping for this??

It is hopeless...

[roboticboy]

Cahoot do not do fixed rate loans - wwll that was what the Cahoot lady said to me. She advied to go to the Sister company Abbey for a fixed rate. My rate has just gone up to 17.9% from 14.9%. (comes into affect on the 11/08/2008. I pay the standard repayment each month - £110. The interswt alone is approx £63 - it's DISGUSTING!!!! I cannot get a fixed loan as Studio Cards DEFAULTED me. I might "question" the default which will show as "in question" on my Credit file hopefully buying enough time to get a fixed rate loan. I've up-ed my repayments to Cahoot to try & pay this off quicker. I gonna CCA & SAR them on the loan for my own interest but not sure what I can clima as I don't have PPI, no late payments etc. However, I signed up for (ticked box online at application) for monthly fee rather that interest. Worked out to be £9.10 per month versus the Interest at £63 per month. If I signed up for monthly fee how the hell can the change that? I thought the "Consumer Credit Agreement" was there for our protection.

[jellybabe]

Hi roboticboy,

i know what you mean. They were still doing fixed loans at the time i was asking for one to have my credit card and Flexi loan transferred into one.

But i am talking about a couple years ago.

Now they stopped them, and i think by putting the interest rate up to such a disgusting rate, they want to make us pay it off uicker as i believe they want to leave (or have done already??) the Loan market??

Anyway, they are not very helpful. Don't accept lower payments or anything else (at least for me they didn't).

And a Loan with a diff company is not an option, as i have bad credit and been refused several times. And every time i get refused it makes my credit file look worse.

It's a no win situation.

[roboticboy]

Jellybabe - how do I do a auto signature like your above - I cannot find the tool.

[jellybabe]

Hi roboticboy,

if you mean the list of accts underneath my message then it's easy to find:

Left hand side on top of your screen somewhere it says "User CP", then you go on edit signature, save, and that's it. Easy peasy.

I think the signature only shows when you type a certain amount of words on your message. Not sure.

[roboticboy]

Just checking the signature - I found the CP bit

[KennyVinegar]

Hello

 

I also have a Cahoot flexi loan, have finally got my CCA after many months and a 12+2+30 letter, and even then it wasn't received within that deadline, and I had already cancelled my direct debit. They haven't hassled me again so far for last month's repayment but I'm sure they will soon. Anyway, what I want to know is...on the CCA it mentions nothing about me opting for PPI - unless you didn't apply for it online, for which it has a box for you to tick if you want it. How do I know I ticked/unticked the box for PPI when I applied online?? Has anyone challenged Cahoot on this?

[roboticboy]

Can't help as I know I never take out PPI.

[jellybabe]

Sorry, can't help either. I never take out PPI.

May i ask a few things please?

When did you cancel your direct debit?Was it shortly after 12+2+30 days?

Did they hassle you while waiting for your CCA when Direct debit was cancelled?

Did they default you?

Thanks, and sorry i couldn't help with your query.

[KennyVinegar]

As far as I'm aware I wouldnt knowingly take out PPI either because its a waste of time.

 

I cancelled my dd when i knew they'd got the 12+2+30 letter, they sent me an email asking if i could phone them, which i didn't, so they phoned me a a week or so later asking if I could make the payment but I told them about the letter and the woman said she would contact customer services, who obviously finally got off their arses and sent me the cca. But now i'm confused as to what to do

[jellybabe]

To be honest, i'm fairly new to this whole CCA thing. I think the first thing to do is to find out if the CCA they sent you is enforcable. I think the best thing to do is to have a look at this thread:

http://www.consumeractiongroup.co.uk/forum/general-debt-issues/138488-various-ccas.html

I believe you can post your cca there and surely someone will be able to give you some advice.

But do let me know how you get on. I might learn something aswell.

[jellybabe]

by the way, did they default you when you cancelled your DD?

Coz that is what i'm scared off.

[KennyVinegar]

No they haven't defaulted me, I haven't heard anything off them since the phone call, which I find a bit strange. my next payment is due soon though but i suppose since they sent me the cca i should pay it. Thanks for the link though, I'll have a read through.

[jellybabe]

your welcome, sorry i can't be of much help, but i'm sure you get your questions answered on the above thread.

[KennyVinegar]

I asked on the moneysavingexpert forum and someone replied saying i'll probably have to start paying the DD again seeing as I have now got the cca (regardless of it being outside the timescales). I'm going to send them a letter asking if they can prove that I opted for PPI, because from all the information I've had from them - some of it being every action I've ever made on the website - I can't see anywhere that I've ticked (or unticked) the PPI box.

[jellybabe]

That's what i thought. BUT only if the CCA supplied is a enforcable one. Did you get that checked??

[KennyVinegar]

no haven't had it check yet but have got details of the prescribed terms a cca must have from moneysavingexpert, so will have a look at those and check against mine.

 

I sent my letter off last week anyway, asking for my ppi back Here's hoping...

[jellybabe]

Hi everyone,

 

3 years on and i'm still stuck with this stupid flexi loan...now transferred to Santander.

 

Trying to keep it short, but need some urgent advice please:

 

Interest rate hiked up to an unaffordable rate for me....therefore got into 4 months arrears.

 

Have now (yesterday) been issued with a default notice.

 

Notice dated 15/06/11......to be remedied within 14 days after being served. No date on when to remedy (is this a valid way to do it???)

 

I now have only 1 week to sort this (impossible for me), as i only just received it yesterday (22nd june, 7 days after they sent it, i still got the envelope...although there is nothing on there apart from a few barcode things)...and it should have been deemed served on the 17th i assume.

 

Is there anything i can do about that? Is this a valid DN in the first place? Not worried about my credit rating....i haven't got any rating left anyway. Or should i just let this default, wait for account closure and then argue over the invalid (if it is invalid) DN, and just pay the arrears? Isn't this all they can claim after that?

 

I have a feeling (although i might be wrong) that this DN is invalid as it is not laid out the right way, ie no underlining, no date to remedy, etc??

 

anyway, i'm trying to upload the DN for you to see:

 

 

 

oops, sorry, it seems a bit big

[jellybabe]

Anyone...please??

I really need some urgent advice re the above DN have received a couple days ago

 

Thanks

[shaneo1]

Erm if you are in arrears no matter how much they will issue a default notice, have you received a letter before this one stating that they may issue a default notice if you do not amend your arrears?

 

If you didn't then I would challenge them, but make small payment and arrange a repayment plan, either that let the loan default, and have the loan go to their debt collector, but remember with this loan they will continue to add more and more interest even though the debt collectors are trying to get the monies back from santendar.

 

Good luck Jellie Bean

[jellybabe]

Hi shaneo1,

 

Thanks for looking.

 

But my issue is that this default notice may be faulty, therefore hopefully not valid, due to the way it's laid out?

 

I have asked for help from one of the site team now aswell.

 

Thanks,

 

jellybabe x

[jellybabe]

ok, still no help....and no site team member either?

 

Looks like i'm on my own in this

 

Never mind

[Undercover-Elsa]

Hi Jellybabe,

It is incorrectly formatted, and should be specific on date..but there have been such strange judgements recently that it depends who you get and your own particular circumstances.

The argument on only arrears being due up to termination has had a lot of stick and hasn't stood up in court to date for recent cases.

That said, the Brandon appeal (12th/13th July) may give us a new way forward..who knows? If they took you to court on the back of that DN, if the judge considered it bad then they couldn't enforce (Harrison v Link)

but could possibly reissue...clarification on whether they could start another claim after a reissue has not been established.

 

One option the default has opened up for you is that you could apply for a time order, and try and get that interest reduced and fixed, together with affordable payments.

kind regards,

Elsa x

More about time orders here.