Secured Loan - How to get rid of it

pepe2008

Hi Camper_1982 ( still got the camper?, mines a '72!)

Have you READ the Terms and Conditions? Does it say that you CANNOT alter the Repayment Term?
If it doesnt state that specifically in the T&Cs, then they should be able to change it.
Also ask about overpayment, if they just bank the overpayment then deduct it from the loan only once a year then you would be better off saving it in an interest bearing account and paying it in as a lump sum. Check out their policy on overpayments.

If you keep coming up against a brick wall, it may be that they just cant be bothered ( you are meeting the repayments, they are making their money, so......then visit CAB, they could possibly make the difference?

talana

In the short term you're probably doing the right thing, save as much as you can and earn some interest then pay off a lump sum at the end of the year.

When it comes to looking at unsecured loans, if you have a good credit history (which you say you do) then I'd suggest looking at somewhere like Zopa.
- loans are unsecured
- typical rates are reasonable
- their loans are offered for 5 years (60 months)
- most importantly for you there's flexibility and no early repayment penalties at all
- but they only loan up to £15k max I think