Barclays Unsecured Loan>Help or advice??

stonio

Company name:BARCLAYS BANK PLC (WOOLWICH)Account type:LoanStarted:09/07/2007Current Balance:£4,160Repayment Period: Monthly Payment: £146 over 60 months File Updated for the Period to:07/06/2009

Hi, I have been paying this loan off at the current rate shown above pcm, if I paid Barclays £350pcm instead of the agreement would it cost me more or should I inform Barclays that I want to pay more?

I paid £250 off last month and if I don't over spend I was just going to transfer a further £100 over to my Loan account..

Am I being stupid doing this or am I supposed to arrange the payments to go off sooner

If i'm right it's been 24 months now with this loan at 146 = £3504
So 36 months remain!
36x146= £5256

Total Repayable = £8760

:money: Oh Martin, What should I do!!?

Loubyloux

As they didn't reject the money it may be ok, but you should call them and check just in case as some loans don't allow for overpayments, it wouldn't hurt to give them a quick call in this instance x

slig

How did you manage to overpay, I didn't know it was possible with Barclayloans?

FYI, I paid my Barclayloan off recently in full, and was pleasantly surprised at how easy it was -they were able to do it immediately over the phone.

Extant

Your loan is set on a schedule for X number of months.

If you overpay, by way of crediting your account on the 23- sort code, your loan will not settle - it will continue to take direct debits etc. for the loan, and you will have to go in to a branch/call up and get it settled.

[Deleted User]

I didn't realise you could overpay on a Barclays loan?