Cahoot Flexi Loan problem

stu929

Hi

Sorry this is a bit boring, but am I missing something or have Cahoot/Santander made a mistake?

This is what is on my last statement:

Details correct as at 15-06-2010

16 May OPENING BALANCE £300.82 (D)
30 May DIRECT DEBIT THANK YOU £200 (C)
15 June INTEREST DUE £2.92 (D)
15 June LOAN BALANCE £103.74 (D)


Since receiving this statement I thought the next payment (30th June) would be the final one, for the remaining balance, approx. £105.
I then noticed that they had taken my usual amount of £200 by DD, so I phoned up to complain.

I have repeatedly been told that the balance shown above "takes into account" the next payment (June 30th) which was not even due for 2 weeks, and that my next payment (on July 30th) will be the final one.
I only have 3 paper statements and the online access has been removed.

Sorry if this is a bit garbled but I thought someone might be able to help.

immoral_angeluk

So they're saying you have to pay £400 before it's finished? Or am I missing something?

powellypowelly

I've got one of these accounts, so I fully understand the frustration of trying to understand where you are with it and what you're supposed to be paying. I think the one problem is that many of the Santander staff don't really understand these accounts.

Judging by the statement you should now be in credit, so I'd call them and ask to close the account, i.e. get a settlement figure, which I'd expect to be a credit to you.

Let me know how it goes, this the account that gives me the most hassle.