Loan company asking me to get my loan paid off by my mortgage provider???

[YUMMYMUM3010]

I took a 5 year loan out with a company called Central Trust nearly 3 years ago, I have always paid the instalments on time, but had a call the other night from them asking me to ask my mortgage provider to pay the rest off for me?? I was totally confused with this call. I would have gone to my mortgage provider in the first place (but had poor credit history 3 years ago)... apparently they have called me again at home today asking if I have spoken to my mortgage provider? What benefit would this be to the loan company, what are they up to?? Any ideas. Dont know what to do...??

[dot.haukes]

how can they tell you to do that? You would be charged an early settlement fee for one thing. are they perhaps panicking because you have been missold a policy or something? get your agreement out and then go to moneysavingexpert site and read up on these missold loan agreements

[YUMMYMUM3010]

I did not take out any payment protection insurance with the loan though? So was not mis-sold?

[cazzz1975]

why would they phone you and ask for the mortgage company to pay off your loan? if you are paying it off without a problem you should hear from them until the loan has been paid off..

[Nosha123]

unless they are going under and are trying to recoup as many costs as possible???
Could be a tactic to recall the debt to get funds in maybe...

I think there may be a clause that the lender can recall the loan at any time - well there is with a mortgage.. so maybe there is for loans too!