cash call question

Have you asked for a formal payoff quote? Dont go by just what is on your last statement.

If you send them the payoff amount they quote it should pay off the loan entirely. Be careful though - Interest may be charged daily, so if you send in a check or money order you may still owe some money. Be sure to follow Volley's advice about calling in for the payoff amount.

Yes, and find out if interest is compounded daily or not.

Interest is compounded daily. So the amount they quote you is only good for that day. You would need to wire the payment that day to pif. However, I know a few people who have paid them off in that manner and had no further trouble from them.

Reny, do as tali says and call them when you are ready to pay. You have come this far. Be sure none of this will come back to haunt you...when you pay them off....do it for good :wink:

Thanks everyone, I'm not "ready" just yet to PIF, however I'm coming up with a budget that will allow me to save the remaining balance and then I'm planning on sending it all at once. From what I can tell that's the only way out of this loan, as hardly any of my actual payments go to the principle.

Reny, sounds like you have got it together!! I have tow loans paid off in March and that is the same plan I have. I just want to be done with those blood suckers, which is a sentiment I am sure you share :lol: