Making extra payments

[DisneyHumbug]

My loan payments start this month (auto wd from checking account), but I was thinking of sending in some extra $$. Will I get any kind of a receipt? or info on the loan balance?

 

[Tiggeriffic]

No, you don't get any monthly receipts or balance statements. However, I was told that you can call at any time to get information and to make an additional payment via credit card. I believe that you can also send in a check, but I'm not sure what the procedure is for that.

 

[Jeff P.]

I have made additional payments by check in the past. Before doing this, I talked with Member Accounting to find out what I needed to do.

They told me to include a note with my check that stated my membership number and contract number. You also should state that you want the additional money applied to the principal (as opposed to pre-paid interest).

They also said that you can request a payment history to be sent to you to insure that all of your payments have been credited correctly.

jeff

 

[Beth]

Also - just FYI ...

I have always had a set amount over my monthly payment taken out of my checking account - just call Member Accounting. You can specify how much "extra" you want deducted in a signed letter and fax it to them. They'll set it up for you, and make just "one" deduction - including the base payment and the extra to principal.

Recently - I started paying the majority of my bills online.

In addition to the extra that "they" are taking out, I've got a recurring payment going out bi-weekly (payday!).

The first time I set this up, I mistakenly addressed the payee as "Disney Vacation Club," and they applied it to my dues.

So make sure any checks you send, whether electronically or via snail mail, are payable to "Disney Vacation Development," and that your contract number, and "principal payment" are indicated on the check.

Hope this helps!