Advice about loan repayments?

Answers:2   |   LastUpdateAt:2012-10-25 13:59:02  

Question
Trac
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I'm looking to take a loan to get my finances in some kind of order , I understand that I can pay a fixed amount each month for the duration of my loan , but if you want to pay more than a few months , how I can do ? Are the loan payments have to be in a debit or I can say how much I want to pay each month? Most months I will be able to pay a little more to the east and others only the minimum payments. I also understand that if I pay the loan off early I have yet to pay the interest for a set amount of time to keep the bank happy! MedlinePlus Does what I 've written makes sense ?
Answer1SCAnswered at 2012-10-08 17:21:09
Most loans do not require direct debit and stay away from those who try to force them to do so . Most signature loans have no prepayment penalties . It seems that you know what to do . Just remember not to use your credit cards that you pay that loan or otherwise nothing will change except your debt .
Answer2CasieAnswered at 2012-10-25 13:57:11
My bank loan has a monthly debit coming out of my checking account on the due date . They calculate the interest based on the amount owed each day ( added every 3 months) , so if overpayment, the balance is down and there is less interest charged . They told me how much payments would be , but if I had a different picture in mind , I hope it would have been nice . If you pay the initial batch , no penalties . MedlinePlus MedlinePlus Ask your bank. Their policies may be the same . Credit Unions works the same way, but to calculate and add in the weekly interest. And if you pay ahead of time , you are fine with that .
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