Repaying Barclays partner finance loan within 12 month interest free period

Moneymadness

Hi,

I took out a loan for a kitchen last April on a 12 months interest free deal and now want to pay back but they say you need to tell them 28 days beforehand or it will incur an early settlement fee, it's not very easy to understand how to simply pay off the debt owed without getting charged, can anyone offer any advice on how to do this.

Thanks in advance

M:)

Arleen

Well, the obvious question that has to be asked - what does your contract say about settling the debt?

Moneymadness

It says I can pay back early and I will not be charged interest I.e. Before 12 month expires but I must tell them I'm doing this and I may need to pay a settlement fee if this applies(can't see any mention of settlement fee in details of Liam though?, can I assume it doesn't apply?)

Moneymadness

*Loan( not Liam?)

Arleen

You can only assume that it doesn't apply if it isn't in your contract. And I am not sure what is your question, they've asked for you to give them notice to pay the loan, your contract says that you have to do it. Where's the beef?

Moneymadness

Thanks to the chocolate tea pot

Gaz83

Moneymadness wrote: »

Thanks to the chocolate tea pot

It's a fair point.

You state that it's not very easy to understand how to pay off the debt owed without getting charged, yet in the exact same post you say that if you give them 28 days notice it won't get a fee.