2007-02-05 05:06:12 · 2 answers · asked by john smith 1 in Business & Finance ➔ Personal Finance
I think there are 2 good ways:
#1. Put your payment on automatic (have it automatically deducted from your account on the day you get paid) and pay MORE than the payment. Which means your loan will be paid off early.
#2. Whenever you have a little extra money in your account, just pay extra on your loan. You could set it up on the computer so it would be easy to move the money to the loan. Or when you get your tax refund, take the money and pay on your loan. Or a bonus, you get the idea. Or cash from a birthday or xmas presents. Any money that is 'extra' in any way put it on the loan.
it will get paid off early.
2007-02-05 05:14:58 · answer #1 · answered by Sufi 7 · 0⤊ 0⤋
Contact the lender for the pay off balance. Then pay it. It isn't anything too involved. Be sure there are no prepayment penalties.
OOPS: my mistake, I misunderstood. The first poster is right.
2007-02-05 05:15:02 · answer #2 · answered by Nancy W 3 · 0⤊ 0⤋