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What is a pay off loan?

Updated: 8/18/2019
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13y ago

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I'm not sure I know what a pay off loan is....... but I do know what it is to pay off a loan.

Could mean pay your loan off.

or

Pay the principle balance in full. They will usually deduct some of the finance charge if the loan is paid off early.

Commonly found in:

*charged off accounts

*repossession accounts

*complete loss accounts paid off by insurances

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13y ago
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I'm not sure I know what a pay off loan is....... but I do know what it is to pay off a loan.Could mean pay your loan off.orPay the principle balance in full. They will usually deduct some of the finance charge if the loan is paid off early.Commonly found in:*charged off accounts*repossession accounts*complete loss accounts paid off by insurances


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