paying of loan early

tanyard

from Sept 8th, i will have managed to get balance down to approx £500; I want to clear off this debt in full and have given the necessary l months notice, with 3 months to clear account; How do I make sure that this will be the final payment and not get hit later with any other charges; I know i have to write and ask for Full and Final balance, and this amount to be sent in letter to me; is there anything else i should do or ask to doubly make zsure this is completly finished with; any help appreciated.

tanyard

should have said that loan was against property and no there is a early signing fee of £150; how long does it take for this to show up against me credit rating to improve it. thanks

Tixy

You need to ask for a settlement figure not a full & final balance. (the term full & final is usually used when negotiating to pay les than the full balance on a defaulted debt).

Once a credit account is closed/settled it typically takes around a month for this to be reflected on your credit file. Whether that will improve your ability to get new credit would depend on what else is on your file and any potential new lenders view of your file.