Managed Loan Pls Help Me Out Of This Mess.

Kimz_5

Pls guys Help me im so scared!!! I was a real nightmare with money but am now stable and making steady repayments, however ive got a managed loan and have read so many horror stories about this on these forums!! I can keep up with the payments thats not a problem but i the interest is huge and i feel like this is going to be hanging over my head for years! If i increase my payments will the interest increase with it?? Im so unhappy, i cant get accepted for loans anywhere else otherwise i would move it but i dont know where to turn! Im in a positive place with the fact that i can afford these repayments but with the interest piling on im not gonna clear it within the 2 years i had hoped!! Pls guys i need some serious advice on my options, i dont know how to get debt free. xx

OliveOyl_2

I'll give you a bump, you've slipped a bit
(I don't know the answer, but there are wiser peeps here, who may have missed your question)

Kimz_5

Thank you xxxxxx

tyllwyd

What is the interest rate on the loan, and how much is outstanding?

If you increase your payments, the total amount of interest you pay over the lifetime of the loan should be less. Who is the loan with - do they have any info about how they handle overpayments?