We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
LloydsTSB Loan
Hi,
I took a loan of 4.5k about 18 months ago, my misses has come into some money and wanted to pay it off, she supplied me with £2,400 to pay off some of the loan, the balance was £2,581. So last week I paid off 2,400 into the loan and today they took out a direct debit from my bank for £237 (which is the agreed monthly amount) I called Lloyds today to see why they had taken out £237 and they said that because I had paid off the £2,400 it had triggered the early settlement fee.
My question to them is, Lloyds TSB say we can at no charge pay more than what we pay back but is there a percentage as to what you can pay back. They have said to me that there isnt and there isnt anything in the t's and c's. They are now wanting an extra £68 to settle the loan which is an extra £200 on top of the loan amount.
Is this right? Advice please, im awaiting calls from the branch and management about this
I took a loan of 4.5k about 18 months ago, my misses has come into some money and wanted to pay it off, she supplied me with £2,400 to pay off some of the loan, the balance was £2,581. So last week I paid off 2,400 into the loan and today they took out a direct debit from my bank for £237 (which is the agreed monthly amount) I called Lloyds today to see why they had taken out £237 and they said that because I had paid off the £2,400 it had triggered the early settlement fee.
My question to them is, Lloyds TSB say we can at no charge pay more than what we pay back but is there a percentage as to what you can pay back. They have said to me that there isnt and there isnt anything in the t's and c's. They are now wanting an extra £68 to settle the loan which is an extra £200 on top of the loan amount.
Is this right? Advice please, im awaiting calls from the branch and management about this
0
Comments
-
I've settled a lloyds loan by paying everything back apart from the last payment i didn't pay anything extra, i also asked this when i took out my most recent Lloyds loan and was told even there not supposed to advise of this but it is possible.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354K Banking & Borrowing
- 254.3K Reduce Debt & Boost Income
- 455.3K Spending & Discounts
- 247.1K Work, Benefits & Business
- 603.7K Mortgages, Homes & Bills
- 178.3K Life & Family
- 261.2K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards