repaying bank loan

[Crocodile Huntress]

Hi. My mum took a loan out with Halifax and has been paying it religiously every month for about 5 years. We decided that we would try and pay the rest of in one jump sum after my dad died and left some money. We went to bank and was told it would cost more to say it of than to continue paying monthly. Now my mum only has her income it's proving to much to pay £120 per month. Is this right. Surely they would want the loan paid off. And can she do anything about the amount she is paying..

[Lowry123]

Re: repaying bank loan

have you asked for a settlement figure?
or asked them to accept reduce payments as her income has changed?