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Refinanced with DCU, how long until my old loan is closed/paid off?

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Royalbacon
Frequent Contributor

Refinanced with DCU, how long until my old loan is closed/paid off?

So I bought my truck at the beginning of January, refinanced with DCU last week Wednesday and she said she'd send the check to the bank with my auto loan as soon as I sign the e-document she emailed to me which I did immediately.

 

Anyways, the first payment at the bank is due February 16 and my first DCU payment on February 26, will my loan with my date be paid off by the 16th or am I going to have to make that paymeny as well as the DCU one in the same month? It's plenty of time for them to receive the check (in the mail im assuming) by the 16th, so I am assuming I'll be fine and won't have to make it? Thank you for your help and sorry for the dumb questions

Chapter 7 Bankruptcy Filed-September 2020 Discharged-December 2020
Kohl's Credit Card $3000 Limit (Opened October 2016) Survived Bankruptcy for whatever reason
Closed Capital One Venture One $3000 Limit (Opened December 2020, Closed by me September 2022 since I wanted the SavorOne and couldn't product change to it)
Capital One Auto Loan (Opened March 2021)
Capital One Cabela's $5000 Limit (Opened December 2021)
America First Credit Union Visa $1000 Limit (Opened December 2021)
Capital One SavorOne $5000 Limit (Opened September 2022)
Sam's Club Mastercard Synchrony Bank $2500 Limit (Opened March 30 2023) (Burned Synchrony in my CH7 BK, One card with a $745 balance)
Idaho Central Credit Union ICCU Visa $10,000 Limit (Opened April 2023)
Message 1 of 5
4 REPLIES 4
cartwrna
Valued Contributor

Re: Refinanced with DCU, how long until my old loan is closed/paid off?

When I refinanced both of my vehicles to DCU (we're both with two separate lenders prior), they received the check and had it paid within a week. I would call mid next week and check with your original lender!
Don’t take your credit for granted, use it with care! These days, catch me in the bankruptcy forum!?
Message 2 of 5
Royalbacon
Frequent Contributor

Re: Refinanced with DCU, how long until my old loan is closed/paid off?

Thank you, got approved 1 week ago and I can still sign into my original lender's site (Huntington) and still showing the balance with payment due on February 16. I'll wait one more week then contact them if it looks like it hasn't been paid off/closed.

 

One last thing, should I update the lender info with my insurance? When I signed up for Allstate I provided the name (Huntington) I had my loan with, not sure if it makes a difference or not.

Chapter 7 Bankruptcy Filed-September 2020 Discharged-December 2020
Kohl's Credit Card $3000 Limit (Opened October 2016) Survived Bankruptcy for whatever reason
Closed Capital One Venture One $3000 Limit (Opened December 2020, Closed by me September 2022 since I wanted the SavorOne and couldn't product change to it)
Capital One Auto Loan (Opened March 2021)
Capital One Cabela's $5000 Limit (Opened December 2021)
America First Credit Union Visa $1000 Limit (Opened December 2021)
Capital One SavorOne $5000 Limit (Opened September 2022)
Sam's Club Mastercard Synchrony Bank $2500 Limit (Opened March 30 2023) (Burned Synchrony in my CH7 BK, One card with a $745 balance)
Idaho Central Credit Union ICCU Visa $10,000 Limit (Opened April 2023)
Message 3 of 5
cartwrna
Valued Contributor

Re: Refinanced with DCU, how long until my old loan is closed/paid off?

DCU sent me a letter asking me to provide them proof of insurance, with them as the lien holder. So that wouldn't be a bad idea.
Don’t take your credit for granted, use it with care! These days, catch me in the bankruptcy forum!?
Message 4 of 5
Royalbacon
Frequent Contributor

Re: Refinanced with DCU, how long until my old loan is closed/paid off?

Alright, thank you!

Chapter 7 Bankruptcy Filed-September 2020 Discharged-December 2020
Kohl's Credit Card $3000 Limit (Opened October 2016) Survived Bankruptcy for whatever reason
Closed Capital One Venture One $3000 Limit (Opened December 2020, Closed by me September 2022 since I wanted the SavorOne and couldn't product change to it)
Capital One Auto Loan (Opened March 2021)
Capital One Cabela's $5000 Limit (Opened December 2021)
America First Credit Union Visa $1000 Limit (Opened December 2021)
Capital One SavorOne $5000 Limit (Opened September 2022)
Sam's Club Mastercard Synchrony Bank $2500 Limit (Opened March 30 2023) (Burned Synchrony in my CH7 BK, One card with a $745 balance)
Idaho Central Credit Union ICCU Visa $10,000 Limit (Opened April 2023)
Message 5 of 5
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