Early Repayment of Loan

jtreliving

Hi,

My wife has been paying a loan with Creation since January 2011 with a starting balance of £6,378 on a 60 month term. Although she has been making monthly payments of £136, her credit record seems to indicate the balance has only reduced by around £500!

We want to clear the loan through a remortgage in a few months time, but I want to be sure that she only pays what she owes. I have read and re-read the loan agreement, and it seems to say she should have paid off more than twice that amount, and I can find no specific mention of Early Repayment Charges, so is this a mistake on the record, or is there a way they actually do this???

CLAPTON

when did she take out the loan
what was the APR
where there any payment free monthly at the beginning of the loan
where there any fees etc attached to the loan
how many payments has she made
have you asked for a settlement figure

what do the T&Cs say about early repayment