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Likely Loans - can i settle early? How much will i save ?


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I  have a personal loan with Likely loans.

I  have had a payment holiday and times up.

I want to refinance this debt.

 

I have an offer for a much better interest rate.

I want to offer Likely less than the outstanding balance  to save the loan cost if I can. Want to see if I can get them to give me a discount off the total P&I  balance now.  

 

Has anyone on this site had any success with getting a discount off of a total balance plus interest (full amount) to settle an account early? 

 

My loan termination date is 2023.  

If yes what is the %.of the discount? 

 

Do  any Caggers have success stories they can share .

Otherwise I will have to wing it.

total outstanding amount is £5700 (P&I)

 

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If you settle early you the loan will not run its full term so the interest that normally runs till term cant be charged.

 

and they dont charge ERF either your might well be able to settle <£3500 or better.

 

Can I pay my loan off early?
Yes, you can repay your loan in part or full at any time. We do not charge an early repayment fee but will apply interest as permitted under The Consumer Credit (Early Settlement) Regulations 2004.

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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  • dx100uk changed the title to Likely Loans - can i settle early? How much will i save ?
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