what is the best option for my self?

hairo786

Hey all,

Am looking for a way to make all my debt more manageable and if it's possible make my monthly repayments lower or even the same but pay it back faster.

I have reduced the debt in the last year to the following:

Graduate Loan
Balance not including interest: 4800
Months left: 26
Payment per month: 200

Car Loan
Balance not including interest: 8200
Months left: 54
Payment per month: 185

Credit Card 1:
Balance 2400
Paying minimum payment 4 more months left at 0%

Credit Card 2:
Balance 500
Paying at least 50 a month.

Am quiet happy with the credit card debts as i plan to do a balance transfer on no.1 and on no.2 i plan on paying it back slowly. Not sure how to best handle my loans.

CLAPTON

best to add the APR for each debt

hairo786

CLAPTON wrote: »

best to add the APR for each debt

Silly question but am a complete noob at APRs - not really sure how to work mine out or even the benefit of adding them up equals to...

Be easy on me please thanks.

CLAPTON

Well it would be silly to get a new loan if it had a higher APR than your existing loans as that means you would pay more interest etc.you would need to read the loan documentation to find out.

Idiophreak

hairo786 wrote: »

Silly question but am a complete noob at APRs - not really sure how to work mine out or even the benefit of adding them up equals to...

CLAPTON meant you should add the APRS to your original post...not add them together...