Closing Cahoot Account with Flexi loan outstanding

[newbie5000]

Hi

 

I am looking to close my account with Cahoot but i have a flexiloan outstanding which it will be a long time before i can pay off. Since they have removed this service from my account am i still tied into cahoot with it (ie can the demand full repayment if i close my account). I see only negatives now with banking at Cahoot (Difficult to get money in quick as no fast pay,counter payments etc leading to unnessecary charges). I admit i used to use my cahoot flexiloan as a buffer to avoid fees by transferring money back aand forth as required thos has now no longer become an option.Cahoot seem to be ignoring my concerns over the availability to transfer funds quickly to stop fees etc and they do not see it has a problem.

 

I would rather move to the Nationwide account i have(one i opened for free cash withdrwls etc) where i can take more control over my financies since they have Branches. Cahoot used to be good but the information they now supply reguarding Direct debits etc is non existant now

[buzby]

You can never close an account with a balance owing, unless the firm assign it or sell it on to a third party and then you have to deal with this new entity.

[newbie5000]

The confusion i have now though is that the loan is now run by Santander and no longer has the benefits or can be controlled through my Cahoot account. Cahoot pass me to Santander on the issue and Santander pass me back to Cahoot. No one seems to have control over the issue. From what i believe Cahoot is still a seperate entitiy from Santander and still has its own department. Does moving the loan to Santander breech any conditions i may have had. I know it is a complicated issue which i am asking the best way to proceed. Have they effectively sold it to a 3rd party by moving it to Santander customer services.

 

Recently i missed a payment for a Santander CC and they would not let me pay from my Cahoot account only from a santander account this also makes me believe that are still a sperate unit.

[buzby]

Unfortunately Santander are legendary for their poor customer service - so I'm not in the least surprised at the pass-the-parcel approach. Cahoot is a wholly-owned subsidiary of Santander, and has been since Sandander hoovered up many of the UKs building societies (from memory, Cahoot was a brand of Abbey National).

 

They will have advised all customers of the changeover, and as such is perfectly legal and above-board. Your issue will always be with your original supplier. If they want to refer it to Santander, that's fine - but they chase this, NOT you. As you've found, you;re just the ping-pong ball in the middle.

 

Put your issues in WRITING, and ass that as your previous referrals to Sandander have been fruitless, this is now no longer an option, and you require thier immediate attention to resolve the matter. Failing which, you'll raise a formal complaint with FOS.

[bcg]

You are one of thousands...

 

Sandander have been issuing fixed loans in the place of the flexiloan -

1. Terminate the flexi loan by writing to Santander.

2. When they issue you the new statements for the fixed loan account, within 14 days write and say you wish to cancel, you do not have to provide a reason. Consumer Credit Directive 2010 in force 1 Feb 2011 !

3. Put all details to FOS and wait and wait, and dont pay any more on either account.

4. Under CCD 2010 the banks have a duty to check creditworthyness before issuing a new loan. They can see mine is rot, so they should not have issued it.

5. All else fails it is an IVA or Time to pay through the courts.

6. Dont take life or yourself too seriously - no one else will.

7.Dont waste any more time on aiming to agree with Santander, its not worth your precious time.

 

Trust this helps, get in touch if you need to.

 

Kindest Christian

[shaneo1]

You are one of thousands...

 

Sandander have been issuing fixed loans in the place of the flexiloan -

1. Terminate the flexi loan by writing to Santander.

2. When they issue you the new statements for the fixed loan account, within 14 days write and say you wish to cancel, you do not have to provide a reason. Consumer Credit Directive 2010 in force 1 Feb 2011 !

3. Put all details to FOS and wait and wait, and dont pay any more on either account.

4. Under CCD 2010 the banks have a duty to check creditworthyness before issuing a new loan. They can see mine is rot, so they should not have issued it.

5. All else fails it is an IVA or Time to pay through the courts.

6. Dont take life or yourself too seriously - no one else will.

7.Dont waste any more time on aiming to agree with Santander, its not worth your precious time.

 

Trust this helps, get in touch if you need to.

 

Kindest Christian

 

Please enlighten me as to how this would work and what the impact to myself this would be??