Early Loan Settlement

girt_giggler · February 28, 2008, 11:29:38 AM

Took a loan out around this time last year with repayments over a 2 year period. I am now in a position to repay remainder of the loan & contacted the bank who gave me a settlement figure. They said I had to put this in writing. what exactly do i say on this letter or is there an example of a draft letter online anywhere?

Bud Wiser · February 28, 2008, 11:42:35 AM

Ring the bank back and tell them you have been talking to the Financial Regulator and that it is they who are obliged to put the settlement figure in writing to you under the Finance Act and that the phone call you are making constitutes a request for them to do so.

Candyman · February 28, 2008, 12:06:50 PM

Correct!!! Ring them back and tell them you would like a settlement figure posted to your registered address. When you get this then its just a matter of sending the cheque to them and requesting confirmation of the paid amount!!!!

Tyrone lady · February 28, 2008, 01:05:28 PM

i took out one with NIIB just over a year ago and then had funds to pay it all of, i simply rang them with my agreement number and they gave me settlement figure over the phone. I sent this to them in form of a cheque and they confirmed receipt and that was that.

Chrisowc · February 28, 2008, 01:18:56 PM

Sounds like you got someone who couldn't be arsed to do any work.

They don't post here by any chance

gawa316 · February 28, 2008, 03:37:01 PM

Not under topic I know but anyone any idea to claim back an old pension?

In my last job I was on a pension scheme and must have a right few grand in it.

Do I have to wait til I'm 60+ or are there any loop holes?

Goats Do Shave · February 28, 2008, 03:56:25 PM

Quote from: gawa316 on February 28, 2008, 03:37:01 PM
Not under topic I know but anyone any idea to claim back an old pension?

In my last job I was on a pension scheme and must have a right few grand in it.

Do I have to wait til I'm 60+ or are there any loop holes?

Ye gotta wait! - Though I think there are firms who will buy it off you!

I'm sure the Money Saving Expert could help!

gawa316 · February 28, 2008, 04:16:30 PM

Quote from: Goats Do Shave on February 28, 2008, 03:56:25 PM
Quote from: gawa316 on February 28, 2008, 03:37:01 PM
Not under topic I know but anyone any idea to claim back an old pension?

In my last job I was on a pension scheme and must have a right few grand in it.

Do I have to wait til I'm 60+ or are there any loop holes?

Ye gotta wait! - Though I think there are firms who will buy it off you!

I'm sure the Money Saving Expert could help!

Cheers I give it a try

imtommygunn · February 28, 2008, 04:19:56 PM

Assuming you have another pension you should be fit to transfer the balance should you not?

gawa316 · February 28, 2008, 04:30:56 PM

Quote from: imtommygunn on February 28, 2008, 04:19:56 PM
Assuming you have another pension you should be fit to transfer the balance should you not?

I didn't take the option for pension as it is only a short term contract and the money is better off in my pocket at the minute btu yeah thats what I would have done.

Not that I am but if say you had to declare bankruptcy or something like that. Is there no way to get hold of it, cause after all it is your money

quit yo jibbajabba · February 28, 2008, 04:35:19 PM

gawa;
if you had less than 2 years worth of contributions you can get it all back i believe; other than i think you could be stuck with it till age 50 at least; not necessarily a bad thing, as at least ye have a bit of a retirement plan growing for you;

need any other info pm me, not that im an expert mind!!