DQIKST,
Should be able to tighten the nut up enough to hold it from slipping back through the hole. Then you can cut the inner about 2cm from the cable clamp bolt. If still concerned before you cut, you could wrap the inner around the clamp once, after passing through the hole and then tighten.
It is a bit of a bugger laying under the dash to get two hands and two spanners in to tighten it up but once done it should be good.
Post up a couple of pictures to show your set up.
Regards
Rodger.
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