Just had a chat on phone with them, the final repayable amount is gonna be 8440, 60quid off lol, ah well its gonna feel so nice to be debt free, so im off in to bank now to pay it off

Thanks for all ya advice

Kyle,

You took a loan of 10K

repayable including loan + interest was 16 k

you current balance is 8500(includes principal amount+interest)

If this is correct and you wish to pay off loan, you should get the interest deducted for the remaining period except early repayment charge which is mostly 2 months interest. Please check your loan agreement. Good Luck

oh well..

I suppose its worth asking if they'd knock money off anyway, the good old phrase 'if you don't ask you don't get'!! whats the worse they can say? no?

Sadly im fully up to date with the payments,

kyle

hello, is your account up to date with payments? if yes it is unlikely that they will reduce anything

however..

if you are quite in arrears you can go low as 50% of the settlment figure as the bank will just want to cut their losses and get some of their money back..

thanks for the reply, well the loan is with hsbc it was for 10k, and the total repayable was something like 16k, but ive got it down to 8500 i have the money to pay it off in full, just would be nice if i could get maybe 500quid knocked off or something, if i kept paying the monthly amounts it wouldnt be paid off till 7years

It depends on what you mean by £8500 left. If you have, for example, 85 payments left to make at £100 each month and you wanted to settle early, you should expect anyone except a dodgy HP company or two (or a 0% finance deal) to give you a settlement figure that is a lot less than £8500.

However, if the balance today is £8500, on a credit card statement perhaps, then the bank would expect you to pay £8500 to settle now or more than that (including interest) if you settled in monthly payments over the next few years.

Hi there savers,

Just wondered if anyone here could help me out, i have 8500pound left on my loan.Now i want to pay this off in full i was just wondering if i go to the bank and say i want to pay it off, could i ask them to say knock off 500pound or so ?

Was just a query of mine, would rather no before i go than after.

Thanks in advance