Higher Loan Repayments

mblessing20

Are loan companies obliged to take higher than the quoted repayments?

For example if I were paying £100 a month, but I decided for one month, I wanted to pay £500, are the loan company allowed/supposed to accept this?

Thanks,

Fonz_2

Not unless the contract specifically allows overpayment, no.

Wutang_2

mblessing20 wrote: »

Are loan companies obliged to take higher than the quoted repayments?

For example if I were paying £100 a month, but I decided for one month, I wanted to pay £500, are the loan company allowed/supposed to accept this?

Thanks,

I would pay off the other loans first!!