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over paying on loans
emylou
Posts: 445 Forumite
I have 3 loans and wish I had found this site sooner, I hate seeing the amount of interest added to the amounts I borrowed and the stupidity of myself as I dont even have anything to show for the borrowing 
Barclays loan £83.75 (until July 06)
Halifax £76.45 (until May 08)
Lombard £209.01 (until Feb 08)
anyway, my question is- after I pay off Barclays I will have that extra £83.75 to go towards other debts, I have 2 credit cards with balance transfers at 6.9% for life of balance, but was thinking whether it would be more beneficial to use that money towards paying more off one of the other loans each month, because I have snowballed my cc's and they will be paid by end of 06 I'd really like to pay loans before 2008! I know there can be penalties for paying loans early so not really sure whether I should just keep paying the agreed amount, can anyone offer advice please?
Barclays loan £83.75 (until July 06)
Halifax £76.45 (until May 08)
Lombard £209.01 (until Feb 08)
anyway, my question is- after I pay off Barclays I will have that extra £83.75 to go towards other debts, I have 2 credit cards with balance transfers at 6.9% for life of balance, but was thinking whether it would be more beneficial to use that money towards paying more off one of the other loans each month, because I have snowballed my cc's and they will be paid by end of 06 I'd really like to pay loans before 2008! I know there can be penalties for paying loans early so not really sure whether I should just keep paying the agreed amount, can anyone offer advice please?
Married my wonderful husband February 2013!:happyhear
I want to wear my beautiful wedding dress everyday- it would make shopping so much more fun, I mean, people go shopping in their pyjamas these days.......
Must STOP spending!!! 
Proud to be dealing with my debts!
0
Comments
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YOu need to call the loans comnpanies and ask them if you are allowed to overpay without penalty:cool: DFW Nerd Club member 023...DFD 9.2.2007 :cool::heartpuls married 21 6 08 :A Angel babies' birth dates 3.10.08 * 4.3.11 * 11.11.11 * 17.3.12 * 2.7.12 :heart2: My live baby's birth date 22 7 09 :heart2: I'm due another baby at the end of July 2014! :j
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i know with halifax you overpay on your loan as much as you like and not have penaltyscc debt ( end dec 05) 6485 :eek:
Currently:4475.73
Shopping for March
Week 1: £46.74
Week 2:
Week 3:
Week 4:
A+L loan but as I have already paid the intrest no point in paying it off early(dont get one) so going to save, save, save when cc paid off
The £2.00 savers club:£24.000 -
Thank you for your responses. I will call both loan companies just to be sure and will definitely over pay if there are no penalities involved Married my wonderful husband February 2013!:happyhearI want to wear my beautiful wedding dress everyday- it would make shopping so much more fun, I mean, people go shopping in their pyjamas these days.......Must STOP spending!!!Proud to be dealing with my debts!0
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