Repaying Career Development Loan

Found 26th Jul 2009
Hi there,
A couple of years ago I took out a Career Development Loan of £1140 at 9.9% interest, today I have £750 left to pay, but I want to pay this off in full. In the T&C it says for early settlements:

An early settlement fee equal to one additional months interest calculated on the balance outstanding will be payable.

This goes straight over my head, please could someone explain it to me?

Thanks =]

3 Comments

So it would be £750 + one months interest on that amount that you would have to pay...i think

it means that you pay an extra month but i would look into it further

Original Poster

I don't understand whether that's £75 or £6.25... sounds confusing to me! Shall give them a call tomorrow =]
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