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Settlement figure query.... Help!
Hi all
I hope someone can help us.
We have a secured loan on our house for which we obtained a settlement figure in October of £4960. Unfortunately we were unable to complete the loan by this date but have continued to make the three due payments of 400 per month.
We have now come in to a sum which we thought would pay the loan off (3700). However we have rung the company and they are telling us the sum due is 4500 :eek:
Firstly, is this possible and, if not, where do we go from here?
Thanks
I hope someone can help us.
We have a secured loan on our house for which we obtained a settlement figure in October of £4960. Unfortunately we were unable to complete the loan by this date but have continued to make the three due payments of 400 per month.
We have now come in to a sum which we thought would pay the loan off (3700). However we have rung the company and they are telling us the sum due is 4500 :eek:
Firstly, is this possible and, if not, where do we go from here?
Thanks
0
Comments
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yes, interest will be charged0
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If the settlement is less than the balance owed then it's up to the loan company as they're letting you out of the agreement early.
Settlement figures don't stay the same regardless or what you've paid off. The company decides it as they could of course hold you to the original agreement.
Where do you go from here? Save another £800.0
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