Cut the Cost of Existing loans discussion area

Former_MSE_Dan · 1 June 2005 at 1:18PM

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Cut the cost of existing loans

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Blue_Lou · 28 August 2006 at 5:00PM

Hi,

I just thought I would thank you for bringing this to my attention:

[b]Monthly Repayments	Remaining Payments	Total Repayments	Saving[/b]
£184				60		£11,040			£0
£142				60		£8,520			£2,520

Both loans above include PPI The existing loan is 12.9% LTSB loan for 8000 over 7 years. The PPI alone on this loan is over £3000 :eek:. The second loan is replacing that from Abbey at 5.8% for 6000. Over the next five years it will save me £2,520. It will save £4,138 if I do not take out PPI on the abbey (which is very likely!!).

Thank you

gavinmccormick · 4 January 2007 at 5:12PM

Hi,
2 years ago I was in dire financial difficulty and since then I have been good and have had no problems, so am haunted by the past somewhat !

I got a loan out two years ago for 3k which I needed from a rather horrible loan company... it was an apr of over 40%... yes I know stupid but needs must..

I have been onto them about reducing the apr as I have paid on time for 2 years but they say their credit score with me is great but the experian one isnt.. I dont seem to understand why

my credit still isnt perfect but I have paid everything on time all the time... so I am tearing my hair out any suggestions ?

teedy23 · 2 May 2007 at 6:01PM

I think it takes longer than that to clear your name , so to speak. Be patient and try not to get in deep again. you can send to Experian for your credit report for about £2.00, the orrible loan company dont want to let you go as your paying them big bucks,, you seem only to have their word for it, I,d look for external proof that your not being looked at favourable, you can also ask equifax for a credit report, more clever people than me on this board will help if you find the right thread. they will give better advice, Hope your still looking, and this helps in any way

BoyJohn_2 · 1 October 2007 at 10:55AM

I have a Black Horse HP agreement which means that over 10 years I will be paying about £10K interest. Has anyone any ideas about how I could pay minimal interest - or none! I wondered if interest free credit cards would help?

Ameretto · 31 March 2009 at 1:07PM

Getting a bit confused, I have a loan for £2778 outstanding for another 1.5 years at 14.3%. What is the best way for me to cut this, when I look at rates at present, my monthly payments don't seem to come down at all.

Currently paying £162.65 per month.

Thanks
In advance

H.

Cut the Cost of Existing loans discussion area

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