REPAYING LOANS EARLY

CTT_2 Posts: 403 Forumite

14 December 2004 at 11:41PM in Loans

Well Martin thought you would have mentioned this little trick,

I have a loan with LLoyds Bank for 8,200. However they can charge you up to 60 days interest if you want to pay it off early. If you would send them a cheque for say 8,100 and then ask for a settlement quote they then only charge you interest on the 100 outstanding over the 60 days.

Also the same will work when companys apply the 78 rule.

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REPAYING LOANS EARLY

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