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Last payment of a loan
WaxiesDargle
Posts: 1,062 Forumite
in Loans
Hi
I took out a £10,000 halifax personal loan and the repayment's £450.35 a month paid by direct debit. However I have been overpaying this loan by £550 a month by standing order and now I'm down to £779.69
What is the best way to pay this to clear it off next month?
when the £450.35 comes off then in theory it will be £329.34 left to pay and I suppose I could alter my standing order for this amount. However with interest added to the loan I doubt if this will be the correct amount...or will it?
any help appreciated thanks
I took out a £10,000 halifax personal loan and the repayment's £450.35 a month paid by direct debit. However I have been overpaying this loan by £550 a month by standing order and now I'm down to £779.69
What is the best way to pay this to clear it off next month?
when the £450.35 comes off then in theory it will be £329.34 left to pay and I suppose I could alter my standing order for this amount. However with interest added to the loan I doubt if this will be the correct amount...or will it?
any help appreciated thanks
0
Comments
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Pay it in one lump sum and then claim back the overpayment if there is any after a week?Debt Free! Long road, but we did it
Meet my best friend : YNAB (you need a budget)
My other best friend is a filofax.
Do or do not, there is no try....Yoda.
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WaxiesDargle wrote: »Hi
I took out a £10,000 halifax personal loan and the repayment's £450.35 a month paid by direct debit. However I have been overpaying this loan by £550 a month by standing order and now I'm down to £779.69
What is the best way to pay this to clear it off next month?
when the £450.35 comes off then in theory it will be £329.34 left to pay and I suppose I could alter my standing order for this amount. However with interest added to the loan I doubt if this will be the correct amount...or will it?
any help appreciated thanks
Ask them for a settlement figure0
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