I would not recommend the cahoot flexible loans. They lure you in on a low rate, and then they'll put you on a higher rate than credit card rates. Go elsewhere, and go fixed rate.

I am in the process of trying to close the account. I wrote to them in the middle of February to question the 'end of the special rate' that I did not sign up for. They said it had been clearly visible on the website, which I can't argue with as I haven't got access to the old website. It is not stated anywhere in any of the paperwork signed by me or sent by them. The loan rate is described as standard variable. I thought that if I cleared the balance I could close the account. On the 28th February I transferred the balance from two other accounts. One has cleared and one has not yet but they should clear by the payment due date which is the 9th March. To make sure I did not pay twice, I cancelled my direct debit. They are now threatening to charge me and say I should have waited for a settlement figure. Why was I not told this when I initially wrote to them? As far as I can see, they have behaved in a way which has turned me off Cahoot and Abby for good. An 8% rise is appalling. Don't bother with them. As for the charge, they no longer have free acccess to my account so they can whistle for it!

I set up the loan easily 2 and 1/2 years ago, and I was in a position 4 months ago to close the loan and pay the outstanding amount early.

Cahoot had a facility to do this online, and I thought the loan account had been successfully closed, as the settlement figure had been taken out of my current account.

Unfortunately, although my direct debit payments stopped, the account remained open, therefore appearing as though I was in arrears.

After numerous phone calls to Cahoot, customer services admitted the mistake and arranged a refund of £266, which was owed due to a mistake in the settlement figure. This was 3 months ago. Despite multiple discussions with Cahoot customer services and messages of : Yes, we apologise, the cheque is in the post... I am still waiting for the money they owe me.

This hike in the interest rates is incredible.

Cahoot and Abbey don't seem to be bothered about any hardship that will be caused to their customers. I have spoken to an independent financial advisor, who almost swallowed his tongue when I told him the situation with Cahoot Loans.

I was told I had two over due payments for June and July but the direct debits had gone to them on these months, so I questioned Cahoot and on many occasions I was put on hold as no-one knew anything about it until I finally spoke with accounts who said these payments were from Dec 03 and Jan 04 and they only told me July this year plus I had an extra charge of £50 for late payments which I claimed back but haven't seen anything and now they so they have no record of it.

Cahoot Online have competitive rates. They use secure remote access. but the slow responce times are an issue.

Cahoot On line offers a fully flexible loan with a highly competitive intereset rate. Pay what you like, when you like. Borrow it back later. Online statements and payments make keeping track of it a doddle. Only downside is that once you have taken out the account your rate will not fall if base rates do - but can go up if they rise.