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Paying back loan early

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Comments

  • Daybreak15
    Daybreak15 Posts: 7 Forumite
    There will be interest charged as they charge interest daily and an early settlement fee may be payable.
  • CLAPTON
    CLAPTON Posts: 41,865 Forumite
    10,000 Posts Combo Breaker
    Daybreak15 wrote: »
    There will be interest charged as they charge interest daily and an early settlement fee may be payable.

    pay the majority off in one go
    then allow the last payment or so go out by your DD
  • Daybreak15
    Daybreak15 Posts: 7 Forumite
    Hi

    Will this incure an early repayment charge?

    Thanks
  • SuperSaver123
    SuperSaver123 Posts: 310 Forumite
    Uniform Washer
    CLAPTON wrote: »
    pay the majority off in one go
    then allow the last payment or so go out by your DD

    A friendly bank manager advised the same to me saying there wouldnt be any ERC if the last payment=small balance is taken by DD.
  • toniokeson
    toniokeson Posts: 6 Forumite
    read their rules and consult with the loan company and also talk with someone with in-dept knowledge with this kind of things.
  • Gaz83
    Gaz83 Posts: 4,047 Forumite
    1,000 Posts Combo Breaker
    toniokeson wrote: »
    read their rules and consult with the loan company and also talk with someone with in-dept knowledge with this kind of things.
    Spammer, building post count.
    "Facism arrives as your friend. It will restore your honour, make you feel proud, protect your house, give you a job, clean up the neighbourhood, remind you of how great you once were, clear out the venal and the corrupt, remove anything you feel is unlike you... [it] doesn't walk in saying, "our programme means militias, mass imprisonments, transportations, war and persecution."
  • [Deleted User]
    [Deleted User] Posts: 35,383 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    Gaz83 wrote: »
    Spammer, building post count.

    Agreed. Yet, astonishingly, the homepage she is attempting to spam describes her a freelance writer. I'd expect better from -
    toniokeson wrote: »
    someone with in-dept knowledge with this kind of things.
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