Help needed with the maths- lendable loan near defaulting

ManyWays

That is a very speedy uphold! The refund will come off the balance.
I too found the loan figures you gave before very confusing, but I think you should now be able to work this out easily by ignoring interest and arrears and treating the loans separately.
So for the first loan, how much did you borrow and how much have you paid to it so far? Take the amount you have paid from the amount you borrowed and I think that is your new balance. Same for loan 2. I dont know what the 8% interest would be but you could think of if that as a bit of an extra bonus.  

GeekieGirlie

ManyWays said:

That is a very speedy uphold! The refund will come off the balance.
I too found the loan figures you gave before very confusing, but I think you should now be able to work this out easily by ignoring interest and arrears and treating the loans separately.
So for the first loan, how much did you borrow and how much have you paid to it so far? Take the amount you have paid from the amount you borrowed and I think that is your new balance. Same for loan 2. I dont know what the 8% interest would be but you could think of if that as a bit of an extra bonus.  

Great thank you. I’ll go work it out. My first loan the balance had hardly gone down due to the interest infact both loans. Borrowed 2000 July 2021 paid £73 monthly still shows over £1900 with interest and the other 2023 for £2000 paid £78 balance with interest 5143 now so they should change soon as they whacked interest on when missed. Hopefully will get an updated balance for them so can work out my payments then to them.