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Barclays partner finance early settlement
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I'm trying my best here. I just wanted to know if there was a dramatic difference between settlements going by how far through I am. What does the passage mean regarding swttlements and how do I work out a settlement going by their rules?0
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I'm trying my best here. I just wanted to know if there was a dramatic difference between settlements going by how far through I am. What does the passage mean regarding swttlements and how do I work out a settlement going by their rules?
I've already explained what the part about early settlement means and given the example if you are half way through (see earlier post).
however, from your figures you did NOT borrow 9999 as that would mean you paid NO interest, which while possible, is extremely unlikely.0 -
Whilst the repayments will be fixed during the term the interest should be accrued on a daily basis and charged to the loan each month. The capital amount will reduce more slowly in the early stages of loan and clear more quickly in the latter stages.
The early settlement clause is simply illustrating that.
Half way through you will still owe 58.258% of the original loan."If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0 -
That kinda makes sense but why does the company have a settlement if 4700? It's so confusing0
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That kinda makes sense but why does the company have a settlement if 4700? It's so confusing
you say you have to pay
100 the first month
then 166.65 for the rest i.e. 59 months
so your total payments are
100 + 166.65 x 59 = £9932
so your total repayments are 9932 but you say they lent you 9999
so they are actually paying you to borrow money?
either
1. you borrowed less than 9999
or 2. you monthly payments are more than 166.65
or 3. you borrowed over more than 60 months
or 4. either or or maybe more0 -
That kinda makes sense but why does the company have a settlement if 4700? It's so confusing
Have you asked them?
Did you take out any kind of "insurance" cover with the loan? Perhaps they are refunding part of the "premium" for early repayment?"If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0 -
Are you leasing the car? Do they need a final settlement and then the car is yours?
Thanks
AndyStart Oct 12 Debt: - £45.500 -
Debt Snowball [STRIKE]39[/STRIKE] - 37 Months - June 2016
PAD Challenge - Snowball Debts 1/11/12 - £269.150
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