Have CO-OP done anything wrong with my loan? Do I need to escalate this?

jaydizzy

I have had some confusing correspondence from Co-op in relation to my personal loan with them.

20/07/15

"I am writing to tell you about a mistake we made that affected the Direct loan you have with us. Your loan balance has been reduced by £776.33" - This letter then goes to explain about the CCA and how they haven't fully complied. They apologise and then say I don't have to pay any interest or default charges as they did not comply with the CCA and have credited my loan account for the period between 3 April 2014 until 23 July 2015.

The letter says that my outstanding balance goes to £4,730.18

10/08/15

Another letter with the same details as above.This time it says my account will be credited for the period between 3rd April 2014 until 13 August 2015. It says my balance will be £4,540.47

14/08/15

A letter explaining that my loan balance has been reduced by £776.33. The letter states that my regular payment will not change but my final payment will be different.

08/09/15

I receive a letter stating "We recently sent you a set of statements and a letter dated 20 July 2015 explaining that your loan balance had reduced. Unfortunately, these documents were sent to you in error. We apologise for any inconvenience this has caused. Please disregard these documents."

So should I just accept that they have made a mistake and rectified it - or do I need to do anything else?

Thank you in advance

[Deleted User]

No further action needed.

jaydizzy

Thank you kindly

andyfromotley

I'm not sure i would be half as trusting as ZX81 i'm afraid.

Many institutions are refunding interst from periods when they failed to send out correct statements. I assume this is what is going on with the co-op.

Wht were you identified as being in this group? What has changed so that you are no longer in this group?

I'd be on to them to try and get some satisfactory answers. I would not however be taking the co-op at their word.

molerat

My reading is that the July letter was wrong and the August one is correct.