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Lloyds TSB Early Settlement Help
Hi folks, I read some tips on here about Lloyds TSB early settlement and perhaps in my haste I made a one off repayment that brought my loan balance right down to a negligible amount of approx £1.50.
The repayment was credited to the loan account approximately 10 days after my last repayment date so am I right in thinking a settlement amount should be 10 days interest on the old balance, plus however many days until I ask for the quote on the latest balance + 56 days extra interest on that balance? The reason I ask is that I apparently asked for a settlement figure about a month ago, and if my maths are correct it's a little on the high side for what it should be so I'm tempted to let that offer expire (2 days to go) and call up again in a few days time for another quote.
Finally my monthly repayment is about £220 and more than covers whatever the final figure is going to be. If I allow the direct debit to run through as normal I don't think I have to pay the interest penalty (?) but how long will it take for them to reimburse me the balance?
Thanks all.
The repayment was credited to the loan account approximately 10 days after my last repayment date so am I right in thinking a settlement amount should be 10 days interest on the old balance, plus however many days until I ask for the quote on the latest balance + 56 days extra interest on that balance? The reason I ask is that I apparently asked for a settlement figure about a month ago, and if my maths are correct it's a little on the high side for what it should be so I'm tempted to let that offer expire (2 days to go) and call up again in a few days time for another quote.
Finally my monthly repayment is about £220 and more than covers whatever the final figure is going to be. If I allow the direct debit to run through as normal I don't think I have to pay the interest penalty (?) but how long will it take for them to reimburse me the balance?
Thanks all.
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