Ending the Agreement

A secured loan agreement can be settled at any time by the customer by paying the outstanding balance to the lender. How this is dealt with by the lender (for example, if there are any charges or any rebate) will depend on:

a) the nature of the security;

b) the terms of the agreement and;

c) whether it's regulated under consumer credit regulation or not.

The agreement ends when all the contracted payments have been made.