Moneybarn Finance

Grace007 Forumite Posts: 5
Second Anniversary
I have arranged a monthly DD Payment Plan for the outstanding balance on a van that was an Insurance write off will they be able to still charge interest on the remaining outstanding balance I was seven months into a 48 month loan when the van was written off the account has never been in default and no payments missed.  is interest frozen on payment plans    thanks


  • MorningcoffeeIV
    MorningcoffeeIV Forumite Posts: 1,296
    1,000 Posts Name Dropper
    They don't need to freeze the interest.

    You'd be better off defaulting.
  • Fighter1986
    Fighter1986 Forumite Posts: 834
    500 Posts Third Anniversary Name Dropper
    So if the van was written off your car + GAP insurance payouts would have covered the outstanding balance / settlement figure on the loan wouldn't they?
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