A loan termination means that your loan agreement has come to an end.
This can happen in one of two ways.
You've Repaid Your Loan in Full
The most common reason for a loan to end is that you've repaid everything you borrowed.
Once your balance has been paid in full, your loan agreement is complete and your loan will be closed.
We End the Loan Agreement
In some circumstances, if the terms of your loan agreement haven't been met, we may decide to end the agreement before the loan has been fully repaid.
If this happens, we'll write to you to explain:
Why the loan agreement has been ended
What this means for your account
Any next steps or actions you need to take
If you receive a letter about your loan being terminated and you're unsure what it means, please contact us. We'll explain your options and answer any questions you may have.
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