We've recently received a letter to inform us we're entitled to a refund of interest from an old loan that we paid off last year.
We realise it's an unexpected windfall and it's come at a very handy time.
The problem is that the letter stated that the refund would be paid within 2 weeks. It's now been longer than that and no sign of the money.
I've rang the loan company to check if they had the right bank details today (they have) but they couldn't tell me when it'll be sorted.
Is this normal? Do the lenders have an obligation to refund in a specific timescale or is it as and when?
Wish I'd never had the bloody letter and it'd just been paid in!