Cahoot and Consumer Credit Act

[king123]

In the same boat, and subscribing to the thread. I think we need some concerted action here. Hopefully somebody knowledgeable will show up soon - I am not that person! :grin:

 

I have my agreement now too and from memory it's not the same. I don't have the interest rates but am doing a SAR.

[keith4444]

Hi Hopkinson

 

I too shall add myself to this list of people with Cahoot agreements identical to yours above.

 

Did you ever find out if it is enforceable or not? Maybe we need to alert an expert to this thread? Rory32 seems to know his stuff from other threads on these boards!

 

The increase in interest rates is surely grounds for enticing into unsustainable debt as you say? How are you getting on with that?

 

Keith

[jellybabe]

subscribing

[keith4444]

More expert views on this thread:

http://www.consumeractiongroup.co.uk/forum/cahoot/122028-cahoot-credit-agreement.html

The agreement looks identical to the one in discussion here.

Doesnt look good:confused:

[keith4444]

Bump

 

Anyone filed a case with the FOS about the interest rates Cahoot are charging?

[angiemcp]

Hi

 

My agreement is identical to this one, and I have forwarded a dispute to Cahoot regarding my CCA. The main body of the agreement does not include a right to cancel and one of the main issues I have is the fact that they signed and dated the agreement before I did, they also have a statement saying that the agreement will only be binding once I have signed and dated and that they have completed their final checks, so this kind of suggests its an application!!!!! Their rates have also jumped up at an extortionate rate which makes it an unsustainable debt. Their full agreement is very vague and I beleive it is one to fight. I started my own thread on this but haven't had mush of a response. I will update you if I hear anything soon:lol:

[cybermoth]

Bump

[hopkinson]

I have sent the documentation, including the agreement, and lodged a complaint to the Ombudsman and have had the first letter returned saying they are investigating and contacting the lender within the last week. I am now waiting for their opinion which should come back within the next couple of weeks. I will keep everyone updated on this thread with the progress. Keeping fingers crossed as have had a success this week in reclaiming my PPI from Lloyds after ten years and three knock backs from them over the years including one from the Financial Ombudsman. Obviously the mood has well and truly changed.

[keith4444]

BUMP

 

Any update for us Hopkinson?

[hopkinson]

Unfortunately not. Still with Financial Ombudsman who rang about three weeks ago to say they are looking into it. Hopefully when they see the agreement and the rate of interest now charged they will knock it back. As soon as I get word I will put on website.

[keith4444]

Thanks Hopkinson

 

We all await your update:D

Did you SAR them to get a record of each increase in interest rate? I am about to do this myself.

Good Luck!

[hopkinson]

I did get all the paperwork eventually which showed all the hikes upwards but they would not shift and so now with the Financial Ombudsman. I also think that the agreement may not be properly executed as it had no cancellation clause but I will wait for the Ombudsman to come back to me.

[keith4444]

Same as mine then!

I'll get my SAR off to them ASAP!

 

Keep us updated mate

 

Keith

[citocoms]

I did get all the paperwork eventually which showed all the hikes upwards but they would not shift and so now with the Financial Ombudsman. I also think that the agreement may not be properly executed as it had no cancellation clause but I will wait for the Ombudsman to come back to me.

 

I too will keep a close eye on this, I have sent my flexi loan agreement off to a Solicitor for consideration, they have submitted it to a specialist checker company, i will let you know what they say eventually and compare it to the Financial Omsbudsman. I have lots of issues including those mentioned here already, cancellation clause absent, pre signed by Cahoot but not binding until their final checks, APR calculated on an assumed £100, when actual limit much higher (and furthermore they can at their initiation and discretion increase the limit).

 

Incorrect citing of variation in T&Cs ; refers in agreement to clause 7 General Conditions when in fact it is clause 8 General Conditions.

 

They increased the minimum payment amount; there is no such clause in the agreement allowing the minimum payment amount to be increased.

 

The Agreement gives Cahoot the right to increase the Flexible Loan Limit (which I think they did without my requesting this); unsustainable debt, proper checking of ability to repay issues.

 

The Credit Limit not specifically stated.

 

This is my wifes, my own suffers the same issues, apart from the wrong clause I think, but my agreement has no Data Protection/Use statement, which my ifes does.

 

So I will continue to watch this thread with great interest and I will contribute also.

[keith4444]

Some good points there Citocoms!

 

Can I ask when your (and your wifes) accounts with cahoot started? i.e what year?

 

Keith

[hopkinson]

This is incredibly interesting information. I will update the second I hear from the Ombudsman whom I guess checks the authenticity/enforceability of the documentation as well.

[citocoms]

Some good points there Citocoms!

 

Can I ask when your (and your wifes) accounts with cahoot started? i.e what year?

 

Keith

 

Keith

 

Better half Nov 2001

Mine Nov 2002

 

Again we have the original copy of the Nov. 2001 T&Cs

Edited May 6, 2009 by citocoms

[citocoms]

This is incredibly interesting information. I will update the second I hear from the Ombudsman whom I guess checks the authenticity/enforceability of the documentation as well.

 

I hope it helps Hopkinson, we now have to turn incredible interesting information into some legal clout, that is the hard bit I guess. I will let you know if the report I get says:

 

Enforceable (Off to FO for last chance saloon then)

Enforceable only by court order (Negotiating position to confront Cahoot)

Unenforceable (Lets just hope for this result)

[meshi]

i thinks it unenforceable as the rate of interest APR etc has to be in the signature part of the document. The signature is on the second page which has no prescribed terms on.

[keith4444]

i thinks it unenforceable as the rate of interest APR etc has to be in the signature part of the document. The signature is on the second page which has no prescribed terms on.

 

Does it count if the original is double sided? I.e its technically "on the same page"????

 

Thanks for the updates Citocoms/Hopkinson we all await with baited breath!

I'm awaiting my reply to my SAR;)

[jellybabe]

i thinks it unenforceable as the rate of interest APR etc has to be in the signature part of the document. The signature is on the second page which has no prescribed terms on.

I too have the same agreements from Cahoot. And it sure would be nice if it was unenforcable.

[meshi]

to be honest I think it would be okay if it is on the reverse page but I am no expert. I still think that the agreement doesnt have a proper credit limit this £100 thing is nonsense.

[hopkinson]

I have contacted the Ombudsman to ask if they look enforceability when reviewing the documents. They have confirmed that they do not.

[citocoms]

I have contacted the Ombudsman to ask if they look enforceability when reviewing the documents. They have confirmed that they do not.

 

Wow, what a consumer friendly service from the FO, they will make a ruling on an agreement while simplyoverlooking and ignoring the fact that it is UNENFORCEABLE. FO hang your head in shame. This is why financial institutions have brought this country down and put people like us into serious debt; a total lack of real regulation, just a sham for show.

 

It is time consumers had proper rights to protect them from negligent, greedy organisations exploiting us.

[citocoms]

to be honest I think it would be okay if it is on the reverse page but I am no expert. I still think that the agreement doesnt have a proper credit limit this £100 thing is nonsense.

 

The original agreements I have were indeed two sided A4. I think the key is one page must be linked to the other; e.g. see T&Cs other side.

 

A cancellation clause I believe only appies if there were antecedent negotiations, e.g. someone spoke to you in the shop about the agreement and then you yook it home to complete. I am no expert just read most of this stuff on here, this site is really appallingly badly set out for CCA 1974 Agreement issues. I am no internet novice but it confuses me, and I can hardly find anyone who who reports a CCA Agreement success. I suspect most people with a dodgy agreement as soon as they know or suspect this head off to a no win no fee Solictor specialising in this area.

 

You can also get agreements checked for free, I am no dunce but I still reckon checking your own is a dangerous route to go down.

 

Here is a link to a very useful and greatly informative thread to help people get their proper Agreement and to avoid the pitfalls that are all over this site (dodgy advice), and it is on this site:

http://www.consumeractiongroup.co.uk/forum/legal-issues/173201-why-you-shouldnt-use.html