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Abbey unsecured loan settlement!! please help

thecableguy12
thecableguy12 Posts: 290 Forumite
in Loans
hello there guys,

just a quick question regarding a loan my father has taken out.

He took out a loan for 11k at 7.4% apr total payable 14481.60 over 8 years and is paying back 151.00 per month.

my qusetion is what are abbey/santander like for settlement figs would they charge the full interest included in settlement or charge maybe 1 months interest? my father does not have all the paperwork but is not at home, he will call them soon when he gets back, but just wondering if any of you guys has had a settlement from em and how does it work etc :confused::confused::confused:
Aqua card - £250 Limit up to date, Jd Williams £150 limit up to date, Argos store card £400 limit up to date, Next £300 limit up to date.:beer:

Comments

  • thecableguy12
    thecableguy12 Posts: 290 Forumite
    anyone??:beer::beer::beer::beer:
    Aqua card - £250 Limit up to date, Jd Williams £150 limit up to date, Argos store card £400 limit up to date, Next £300 limit up to date.:beer:
  • _Andy_
    _Andy_ Posts: 11,150 Forumite
    thecableguy12 wrote: »
    anyone??:beer::beer::beer::beer:

    You only posted the original post 15 mins ago.
  • thecableguy12
    thecableguy12 Posts: 290 Forumite
    _Andy_ wrote: »
    You only posted the original post 15 mins ago.

    yer true sorry! bit pushy!:A
    Aqua card - £250 Limit up to date, Jd Williams £150 limit up to date, Argos store card £400 limit up to date, Next £300 limit up to date.:beer:
  • CLAPTON
    CLAPTON Posts: 41,865 Forumite
    10,000 Posts Combo Breaker
    The settlement figures of normal loans taken out after may 2005 are regulated according to a formula. So basically they are allowed to charge a couple of months interest.
  • thecableguy12
    thecableguy12 Posts: 290 Forumite
    CLAPTON wrote: »
    The settlement figures of normal loans taken out after may 2005 are regulated according to a formula. So basically they are allowed to charge a couple of months interest.

    so in this case take away whatever has been paid off plus 2 months interest will create the fig? many thanks
    Aqua card - £250 Limit up to date, Jd Williams £150 limit up to date, Argos store card £400 limit up to date, Next £300 limit up to date.:beer:
  • CLAPTON
    CLAPTON Posts: 41,865 Forumite
    10,000 Posts Combo Breaker
    thecableguy12 wrote: »
    so in this case take away whatever has been paid off plus 2 months interest will create the fig? many thanks


    I'm not sure what that means.

    The settlement figure will be the amount of the capital outstanding plus a couple of months interest.
    Depending upon your expectations there may be more capital outstanding that you think as in the early months of the loan a significant proportion of the repayment will be interest.
  • jpwjpw
    jpwjpw Posts: 272 Forumite
    Part of the Furniture 100 Posts Combo Breaker
    Why don't you get your dad to ring them? They should be able to give him a figure on the phone.
  • thecableguy12
    thecableguy12 Posts: 290 Forumite
    jpwjpw wrote: »
    Why don't you get your dad to ring them? They should be able to give him a figure on the phone.

    he will when he gets home tuesday he is away at the monent and only has prepay phone and he dont wanna waste his credit on 0870 numbers etc
    Aqua card - £250 Limit up to date, Jd Williams £150 limit up to date, Argos store card £400 limit up to date, Next £300 limit up to date.:beer:
  • Obukit
    Obukit Posts: 670 Forumite
    thecableguy12 wrote: »
    he will when he gets home tuesday he is away at the monent and only has prepay phone and he dont wanna waste his credit on 0870 numbers etc
    Use SayNoTo0870 to find a geographic or freephone number for Abbey, which will be a lot cheaper.

    If you're using a 0800 number, either call it free of charge from a payphone or call it via 0800Buster to cut the costs further.

    Hope that helps :).
This discussion has been closed.
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