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Anyone else had an unannounced refund from M&S loans????

14
Found 4th Dec 2014
Wrote to me today saying that their letters have been incorrectly written so refunding £600!!!

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I think I read this on the news recently (or something similar).
No but i'd like one through the mail box tomorrow.
Original Poster
It is so strange - something about telling us we could pay the balance off early, but not stating that we could pay a portion of it off. Maybe this is pre-empting a court case or something? Not complaining!
From what I've read about it... They told customers that they could pay the loan off in full at any time, but failed to say that customers could also make additional payments towards the loan whenever they wanted.

Refunds are therefore being given to the value of the interest charged on the loan from the very start. I suppose because people could argue that, had they been told they could make additional payments, they would have had to pay less interest.

Assuming I've understood it all correctly, that is.
hi, I got the same letter yesterday refunding some interest, makes a change to get some money sent to us!:3
Yep, same thing happened to me yesterday, Only had a couple of months of a 4 year loan to go.
Thought it was a scam at first, then checked my bank account - £750 Christmas Pressie!!!!
Is this for current customers or in last few years as well , I used to have loan with them . . .?
Original Poster
I'm a current customer but maybe worth a check on your statements and give them a call!
I received £1470 back into my account - letter received not very clear. Still - just what you need just before Christmas!! Refunds are on loans by the look of it
I got £747 quid back, seems to have been an error on their part on not telling customers they could make part payments at any time. Seems they have to refund all the interest that was due for the period that they didn't notify us.

Lookign for a good deal on a Canon 6D now :D.
Edited by: "Donkii" 8th Dec 2014
Nice :-)
Donkii

I got £747 quid back, seems to have been an error on their part on not … I got £747 quid back, seems to have been an error on their part on not telling customers they could make part payments at any time. Seems they have to refund all the interest that was due for the period that they didn't notify us. Lookign for a good deal on a Canon 6D now :D.


Can I ask ? Are you a current or past customer? I had a loan with them and I'm intrigued.
suezygirl

Can I ask ? Are you a current or past customer? I had a loan with them … Can I ask ? Are you a current or past customer? I had a loan with them and I'm intrigued.



Current about 2 years into my loan.
Donkii

Current about 2 years into my loan.


Thanks , probably current only x enjoy your windfall
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