re: Paying off debt update/questions

quote:

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The question i have is do i pay discover the amount of the loan which will allow me to "pay it off" or is it something in which i need to discuss with a representative at discover? Does that make sense?

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If you used a balance transfer to pay off the original loan, that means it's essentially a debt you owe Discover now. Is it a credit card or one of their personal loan products? I'm guessing a credit card. In either case, you simply pay Discover directly. Do that with your tax return and you're good to go.

Now, problem is, balance transfers are never "free". You likely paid at least 3% up front to transfer the balance from your loan. If you were planning to pay it off in the next month, I don't think I would have advised doing that, but it's done now. Would have to think a month's worth of interest on a term loan would have been less than paying that 3% up front.