How to pay off Llods loan early?

sugarpants_2

DH has loan which we wish to settle. How do we do this?

Oh the phone an advisor said we had to pay it off in the branch? We was so annoyed as wanted to pay it off over phone using debit card. Is this right??:mad:

worried_jim

just pop into a branch and do it over the counter.

sugarpants_2

Hoping to do this next week

jonesMUFCforever

You have 2 options - go into branch and pay over counter or telephone the Personal Loans centre in Peterlee and ask for redemption figure. You can then send a cheque direct to the centre.

You will not be able to pay with a debit card.

Craig1

There is an early redemption charge, the way around it is to pay off almost the entire balance and then leave a month or mores usual payment as the balance and allow this to come out by direct debit that way you are simply overpaying the loan (which you are allowed to do) and the remaining balance will be cleared by DD. If however you have the ridiculously expensive loan protection then you need to clear the balance in full in order to get a rebate. If you use internet banking there is a way of setting up a one off standing order to a Lloyds account I think the details are as follows; Sort code: 77-77-90
Account#: 90000468
Reference: <your 11 digit Loan Agreement Number> but I would double check it to confirm. Anybody at the call centre or branch should be able to confirm this by checking on their computer systems under '' Overpayment to Loan Account by Standing Order''. Alternatively you can do it in the branch which is quite straightforward.

sscott5581

Craig1 wrote: »

There is an early redemption charge, the way around it is to pay off almost the entire balance and then leave a month or mores usual payment as the balance and allow this to come out by direct debit that way you are simply overpaying the loan (which you are allowed to do) and the remaining balance will be cleared by DD. If however you have the ridiculously expensive loan protection then you need to clear the balance in full in order to get a rebate. If you use internet banking there is a way of setting up a one off standing order to a Lloyds account I think the details are as follows; Sort code: 77-77-90
Account#: 90000468
Reference: <your 11 digit Loan Agreement Number> but I would double check it to confirm. Anybody at the call centre or branch should be able to confirm this by checking on their computer systems under '' Overpayment to Loan Account by Standing Order''. Alternatively you can do it in the branch which is quite straightforward.

My partner has a loan with Lloyds and the balance is £8440, September payment of £273 has came off her account so balance will be around £8239 when cleared (this includes september interest charge of approx £72).

If she was to pay £8050 using the above method and then wait for October payment to clear balance would this mean no early redemption would be applied? This would leave balance £78 overpaid which should cover October interest charge leaving an approx overpaid balance of £6.

I am all wrong here, correct me if I am.

Thanks
Steven