Does anyone have any advise regarding dealing with Cahoot.My wife and i both have loans of £7000 each with them and we can no longer afford the repayments as all our money is going towards our mortgage which is the priority.Cahoot are no help and i was wondering what the procedure is with them.Will they take a charge on our property or do they do sell the debt on to a DCA.Also has anyone had any dealings with Cahoot regarding partial settlements of outstanding debts and what percentage they will accept.Thankyou
Hi Mark and sorry to hear about your current problems. Most responsible lenders will reach a temporary repayment agreement without resorting to a charging order but normally the debt would have to be in arrears and defaulted before you can speak to the right department. Draw up an income and expenditure and send it to Cahoot with your offer and keep a copy. Eventually it will reach the right desk and your payment proposal should be accepted. However, it may take a bit of time and a few copies of your offer being sent. Good luck.
