Bank workers question I just received a rather tasty cheque for £1,000. I plan to be very sensible and pay off my post-grad loan, current balance £1,036. I can make overpayments on the loan, so could I be sneaky, pay off £1,000 THEN ask for a settlement figure, so the remaining interest was calcuated on the £36 rather than £1,036? Interest is daily, linked to BoE, currently 6.75 per cent. Any advice much appreciated as once this bad boy is gone it's like a tax free £200 p/m pay rise.
I think i need to change my bank to Princess Jane Bank. Have you got a spare ram of 2000GB for the books? I spent £2.04 on my dinner today for a start
Re: Bank workers question Shouldn't you ask for a settlement figure first? That way they may knock the price down, especially if your paying insurance also. That way you may walk away with a little extra money in your rich, back burner.
Re: Re: Bank workers question Yeah I'm off there to day for just that. Insurance? Do you mean PPI? That's the biggest scam going, I refused it outright. The world will always need blood sucking leeches...I mean journos, and usually by the time PP kicks in I could have landed myself a minimum wage number back in the chicken coop..I mean call centre.
LOL you know I work just as hard as you do fella, two jobs, six days, 60 hours. Plus keeping Scott in hot meals, that's a salary all itself. More like £22.04 for his dinner!
Re: Bank workers question What bank are you with? I work for HSBC and the way I would do it would be to get a settlement figure first, as you pay interest in advance it seems, so when you go to close the loan down, you are refunded some interest you are paid therefore the outstanding balance decreases. SO in reality you're not really getting a smaller figure to repay, it;s just paying you bac interest you'e already paid (or that's how we seem to work). If you get the settlement figure first then you probably won't even have the £36 to pay anyway and may have a little change
I'm with HSBC Nat, but thought I paid interest in arrears, as it seems to be added every couple of months. Oh well, I'll have a trundle along and see what fettle. Change would be nice, but TBH getting the damn thing paid off at £5,000 in just under two years is even nicer.
If you want I could check what your settlement figure is? Although I know I am a complete stranger and no doubt you don;t want me looking at your acocunts!!
Managed to drag it out of this afternoon, after about a half hour wait in the branch. £1,036 balance £1,054 to settle. My current account is good viewing, the speed at which my salary leaves every month is breathtaking.
It's a bit of a nightmare in branch (if you went to Grey street one) should have asked for me i wouldve done it straight away
