Cahoot Flexi Loan CCA enforceable or valid???

[mann01]

Hi All,
I have received CCA from Cahoot. Initially I took out flexi loan in 2001 at reasonable rate, for last 2 years they have charging me over 23%, I have been struggling for too long, need some advice with this please

I have posted the CCA on the link below

My main thread is

http://www.consumeractiongroup.c o.uk/forum/general-debt-issues/168382-unsecured-debt-75k-need-2.html#post1904365

Thanks in advance.

[Ragtaggeorge]

I think it may be unenforceable it seems to be missing the full explanation of the APR varaiability required in the prescribed terms.
See the section 5 (e) in the thread below.
http://www.consumeractiongroup.co.uk...ml#post1747471
Wait for some more experienced input.

[king123]

I'm in the same boat. My flexi loan was at a reasonable rate when I started, but the outrageous hike in interest and minimum payments pulled the rug from under my feet. (Sorry about the mixed metaphors lol). Am interested to see how you get on as I'm about to CCA them too. Good luck.

My thread: http://www.consumeractiongroup.co.uk...lexi-loan.html

[mann01]

BUMP - Please any other comments

[Ragtaggeorge]

Bump - you could try posting a thread in the legal issues thread for ideas on POC (particulars of claim) relating to using the missing APR variability.
Someone is likely to notice if it is indeed a valid arguement or not.

[hopkinson]

I have had the same and have contacted the Financial Ombudsman for advice. I have been told that they cannot do this as it falls within the "unfair agreement" and it is a complaint which the FO will take up. I have written back to Cahoot and told them this and given them 28 days to settle satisfactorily. If they do not I am going to the FO as adviced.

[jellybabe]

bump...any news on this?

[mann01]

Hi All,

can someone help me to understand this CCA from Cahoot and if it's enfoceable,
I have tried my best to settle reasonably however cahoot are not intrested

http://www.consumeractiongroup.co.uk...3&d=1231378274

[mills1]

Originally Posted by hopkinson

I have had the same and have contacted the Financial Ombudsman for advice. I have been told that they cannot do this as it falls within the "unfair agreement" and it is a complaint which the FO will take up. I have written back to Cahoot and told them this and given them 28 days to settle satisfactorily. If they do not I am going to the FO as adviced.

Who was it who told you it was an " unfair agreement " ?
Was it the Ombudsman who told you or someone else?
Reason for asking is that apparently, after posting it up on here, I am told it is an enforceable agreement.
Cahoot did exactly the same with me, the account started off on a lower rate but has now escalated to over 20%
Just interested to know how it can be an enforceable agreement if it is an unfair agreement?

[mills1]

Originally Posted by mann01

Hi All,

can someone help me to understand this CCA from Cahoot and if it's enfoceable,
I have tried my best to settle reasonably however cahoot are not intrested

http://www.consumeractiongroup.co.uk...3&d=1231378274

It looks similar to mine which is thought enforceable.
Someone may be along soon to comment further.

[hopkinson]

I hope it works as I did complain to the FSO and was knocked back because they said we had been given sufficient notice to change to another lender. Sometimes though things change and what was knocked back a year ago suddenly gets accepted. Keep us updated

[mills1]

Originally Posted by hopkinson

I hope it works as I did complain to the FSO and was knocked back because they said we had been given sufficient notice to change to another lender. Sometimes though things change and what was knocked back a year ago suddenly gets accepted. Keep us updated

Hiya Hopkinson, who was it who told you that what cahoot did was within the unfair contracts ?

Cheers.