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settlement figure not correct
noonerbernerd
Posts: 10 Forumite
in Loans
Hi, I recently settled a loan with natwest, but noticed today that there is still an outstanding balance.
In january I got a settlement figure of approximately £13,680, but had to wait a few days to get the money into my account. When it was there I rang them again, but this time the figure they gave me was just over £13,500. I asked them why it had come down, and if they could check it was correct. They said it was, so I asked them to close the loan down.
They had cancelled the direct debit, and the online banking balance showed £10 in credit.
I checked my balance this morning and found that I'm now £175-ish in debt. The difference in the two settlement balances was roughly a month's payment.
Apparently, because the loan payment was due "in a few weeks" (15 days) they would have taken this off the total balance, i.e. the £13,500 in a lump and £175 a few weeks later.
This has unsettled me a bit though. when I rang them I asked for a settlement figure, to clear the loan, end it. When they gave me this figure, I queried it, and was reassured that it was correct. They cancelled the DD. Am I liable for this? It's a bit of a mess really.
In january I got a settlement figure of approximately £13,680, but had to wait a few days to get the money into my account. When it was there I rang them again, but this time the figure they gave me was just over £13,500. I asked them why it had come down, and if they could check it was correct. They said it was, so I asked them to close the loan down.
They had cancelled the direct debit, and the online banking balance showed £10 in credit.
I checked my balance this morning and found that I'm now £175-ish in debt. The difference in the two settlement balances was roughly a month's payment.
Apparently, because the loan payment was due "in a few weeks" (15 days) they would have taken this off the total balance, i.e. the £13,500 in a lump and £175 a few weeks later.
This has unsettled me a bit though. when I rang them I asked for a settlement figure, to clear the loan, end it. When they gave me this figure, I queried it, and was reassured that it was correct. They cancelled the DD. Am I liable for this? It's a bit of a mess really.
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