speedyxjs
|
| posted on 16/1/09 at 03:00 PM |
|
|
OT - Pay off Loan
I want to pay off my HSBC loan but i can find how to do it online. Does anyone know if there is any way to do it? I dont really want to go in and do
it in person because they can be a bit wierd.
How long can i resist the temptation to drop a V8 in?
|
|
|
|
|
chris_smith
|
| posted on 16/1/09 at 03:05 PM |
|
|
send the money to my paypal account ill then pay hsbc on your behalf there will of course be a handling charge of 2% plus admin charge of 4.5% for my
services, hsbc will also add a 10% early settlement charge , but you will be of peace of mind  
sorry couldnt resist, cant help though
The secret of success is to know something nobody else knows."
|
|
|
02GF74
|
| posted on 16/1/09 at 03:06 PM |
|
|
quote:
Originally posted by speedyxjs
II dont really want to go in and do it in person because they can be a bit wierd.
Were you planning to take a large whiskey bottle full of 1p and 2p pieces?
over to Mr W who will know as I don't have a scooby on this one.
|
|
|
snapper
|
| posted on 16/1/09 at 03:07 PM |
|
|
Don't worry about the weirdness, just go in and pay it off.
I eat to survive
I drink to forget
I breath to pi55 my ex wife off (and now my ex partner)
|
|
|
BenB
|
| posted on 16/1/09 at 03:07 PM |
|
|
It'll depend on the clauses in the contract. Best option (I reckon) is to write to their loans division and ask them how much they want to pay
it back. I've done this with natwest and they sent back a prompt reply. Job done.
|
|
|
Mr Whippy
|
| posted on 16/1/09 at 03:12 PM |
|
|
Personally for ending a loan, I definitely would go in person (even if they are weird, whatever that means), as I’d want a piece of paper saying that
it is now fully paid off, just in case they balls it up and keep asking for payments or worse continue to debit your account if its direct debit.
Anyway what are they going to do to you...
Image deleted by owner
[Edited on 16/1/09 by Mr Whippy]
Fame is when your old car is plastered all over the internet
|
|
|
speedyxjs
|
| posted on 16/1/09 at 03:14 PM |
|
|
Good point Whippy. Il stand up and be brave
How long can i resist the temptation to drop a V8 in?
|
|
|
johnston
|
| posted on 16/1/09 at 03:30 PM |
|
|
And remember if they try to sell you another deal say no..
I know a bank I delt with when I tried paying it off earlier they came up with all sorts of weird and wonderful new plans
|
|
|
Mr Whippy
|
| posted on 16/1/09 at 03:41 PM |
|
|
quote:
Originally posted by johnston
And remember if they try to sell you another deal say no..
I know a bank I delt with when I tried paying it off earlier they came up with all sorts of weird and wonderful new plans
Did you see that program where they were seeing if students could still get ridiculous loans from the apparently broke banks? They got some students
to go in and they went round the different branches getting thousands no bother at all, simply asking for money to be handed to them without any
income to pay it back. Treat loans very carefully but at least you’ve done the right thing and paid it back, many don’t and destroy their lives.
Fame is when your old car is plastered all over the internet
|
|
|
DarrenW
|
| posted on 16/1/09 at 04:44 PM |
|
|
Couple of things that might help.
In the past ive sent a loan company letter (or phoned) and theyve sent the redemption statement back with details how to pay.
With my bank i just use the telephone banking service to do it.
Ive had loans before that had a clause that said you can pay off at any time but there is a redemption penalty. What they dont always tell you though
is that you can pay all but the last little bit without penalty, then clear a month later and only pay the % of whatever the final balance is.
Im not sure if this is as common now though on normal loans (i know it is on bigger secured loans).
I have a Natwest loan. Online i can see it as an account (O/D by the balance owing). At any time i can transfer money into that account which lowers
the balance.
|
|
|
Meeerrrk
|
| posted on 16/1/09 at 04:52 PM |
|
|
you will get a charge for doing so, in the form of interest. Generally banks dont allow that kind of thing to be done on the internet, mainly because
it means they are losing your business. Try ringing them up if yo udont want to face the staff
For Sale : 2008 Aries/Stuart Taylor Motorsport Locoblade (954 Blade)
|
|
|
designer
|
| posted on 16/1/09 at 06:20 PM |
|
|
You might find that it could cost more to pay it off, especially if it is near the end of it's term!
Happenned to me years ago; didn't pay it off.
|
|
|
speedyxjs
|
| posted on 16/1/09 at 08:56 PM |
|
|
Itl cost me about an extra £300 to pay it off early but itll save me £150 per month.
How long can i resist the temptation to drop a V8 in?
|
|
|
DarrenW
|
| posted on 16/1/09 at 09:16 PM |
|
|
Why did it cost you £300????? Was it a bog standard unsecured loan? AFAIK (and to be honest im the worlds worst money manager) it should cost you very
little to pay a loan off. If they sting you a % charge of outstanding balance (as i was told by bank a while back) the trick is to pay off a large
lume, then pay balance a while later and pay % on a much smaller amount.
|
|
|
