Cahoot Flexi Loan Repayment

MHO_2

I've finally got to the point where i have rang and settled my flexi loan! I've paid pittance off since the interest rate was hiked to 20%.

My query comes when i've settled it, there were interest charges of about £200 added to my capital loan amount.

I just don't get how they can work this out, based on the fact that the end date on their statements is the 31/12/9999!!!

Can anyone explain if i have a right to question their calculation methods. I've had the flexi loan open since 2002, they have had alot of money of me in interest payments, and now they screw me when i get to pay it off :-(

I know i've queried HP settlements for my work before and they didn't like being threatened with FSA complaints, about not adhering to reasonable settlement calculations and they soon reduced the figures, but they had a start and an end date and it was easier to calculate the statutory early settlement discount!

thanks in advance