Cancel loan - 'Contact us within 14 calendar days of 15 September' - Cooling off period query

Options
ellak0pella72
ellak0pella72 Posts: 7 Forumite
First Anniversary First Post
in Loans
Hi all
I'm considering cancelling my loan as it may not be needed. I'm confused by this wording 'Cancel loan within 14 calendar days of 15 September' within my loan confirmation letter. Does this mean I contact them by/on the 28th (inc 15th within 14 days) OR by/ on the 29th (exc 15th within 14 days)?  I did call them but the person I spoke didn't sound like the knew either and were guessing   :/
I don't want to miss the deadline if I can avoid it... for obvious reasons. 
Thanks
E
«1

Comments

  • CocoM2020
    CocoM2020 Posts: 253 Forumite
    First Post Name Dropper
    Options
    Better safe than sorry - cancel by the end of the 27th. 
  • bradders1983
    bradders1983 Posts: 5,684 Forumite
    First Anniversary Name Dropper First Post
    Options
    Why not just do it today or tomorrow? 🙄
  • ellak0pella72
    ellak0pella72 Posts: 7 Forumite
    First Anniversary First Post
    Options
    Anyone able to help answer the question please? Earlier is not an option.
  • jonesMUFCforever
    jonesMUFCforever Posts: 28,898 Forumite
    Name Dropper First Post First Anniversary
    Options
    Have you actually received the funds from the loan company?
  • DCFC79
    DCFC79 Posts: 40,598 Forumite
    Name Dropper First Anniversary First Post
    Options
    ellak0pella72 said:
    Hi all
    I'm considering cancelling my loan as it may not be needed. I'm confused by this wording 'Cancel loan within 14 calendar days of 15 September' within my loan confirmation letter. Does this mean I contact them by/on the 28th (inc 15th within 14 days) OR by/ on the 29th (exc 15th within 14 days)?  I did call them but the person I spoke didn't sound like the knew either and were guessing   :/
    I don't want to miss the deadline if I can avoid it... for obvious reasons. 
    Thanks
    E

    I read it as up to when they close on the 29th.
  • bris
    bris Posts: 10,548 Forumite
    First Post First Anniversary Name Dropper
    edited 25 September 2020 at 2:03PM
    Options
    ellak0pella72 said:
    Anyone able to help answer the question please? Earlier is not an option.
    Well it's not rocket science, if you took out the loan on the 15th then you have 14 days to cancel, just add 14 onto 15 for the answer.

  • MinuteNoodles
    MinuteNoodles Posts: 1,176 Forumite
    First Post Name Dropper
    Options
    Why is earlier not an option? That makes no sense whatsoever. 
  • superbigal
    superbigal Posts: 601 Forumite
    First Post First Anniversary
    Options
    bris said:
    ellak0pella72 said:
    Anyone able to help answer the question please? Earlier is not an option.
    Well it's not rocket science, if you took out the loan on the 15th then you have 14 days to cancel, just add 14 onto 15 for the answer.

    Not if it was February  ;)
  • ellak0pella72
    ellak0pella72 Posts: 7 Forumite
    First Anniversary First Post
    Options
    MinuteNoodles said:
    Why is earlier not an option? That makes no sense whatsoever. 
    There are some dependencies related to why i took the loan out - reasons I don't have to share here.
  • ellak0pella72
    ellak0pella72 Posts: 7 Forumite
    First Anniversary First Post
    Options
    bris said:
    ellak0pella72 said:
    Anyone able to help answer the question please? Earlier is not an option.
    Well it's not rocket science, if you took out the loan on the 15th then you have 14 days to cancel, just add 14 onto 15 for the answer.

    Which is my thinking, but I need to know categorically. I'll call them again. 
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

Categories

  • All Categories
  • 343.2K Banking & Borrowing
  • 250.1K Reduce Debt & Boost Income
  • 449.7K Spending & Discounts
  • 235.3K Work, Benefits & Business
  • 608K Mortgages, Homes & Bills
  • 173.1K Life & Family
  • 247.9K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards