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Lump sum loan payment

I want to payoff a lump sum from my barclayloan and barclays say I can't do it!!!!!!! If I make this payment I will have 4 payments left till I am almost debt free. Any ideas, help or suggestions - they seem unreasonable to me!!!:confused::confused::confused:
THE LONG AND THE SLOW ROAD SEEM TO APPLY TO DEBTS AND DIETS... THE TWO THINGS I WANT TO SEE THE BACK OF...:D

Comments

  • Brassic
    Brassic Posts: 557 Forumite
    Did they give a reason why?
    Debts @ lightbulb moment (13/06/2006) - £59,842.23 :eek: All commercial debts now clear!!! :T Debts April - £20,000 to family (incl extra £10k borrowed for house deposit). DFD - Aug 2014
    Proud to be dealing with my debts
    Goal of the month - £500 on groceries for family of 5 - Apr 2011 - £620! :( May - £454.85 so far.
  • CarolnMalky
    CarolnMalky Posts: 14,254 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    Why not ask for an early repayment figure, and that will tell you exactly how much you have left to pay, it might work out better jsut to clear it in one go.
    Carol
    If you obey all the rules...you miss all the fun!! Katherine Hepburn
  • moozie_2
    moozie_2 Posts: 3,063 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    It could be that it's against your T&Cs. I have two loans and I can overpay on one but not the other. I can't make lump sum payments on either of them, except early settlement of course. Worth checking what you signed for ;)
    Leason learnt :beer:
  • What's the APR on the loan? Any chance you could put the lump sum in a high interest account and make a bit of interest while you wait to pay off the balance?

    Does seem unreasonable to me
  • Thanks for the good advice everyone!
    THE LONG AND THE SLOW ROAD SEEM TO APPLY TO DEBTS AND DIETS... THE TWO THINGS I WANT TO SEE THE BACK OF...:D
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