how to pay loan,which only accepts cheques?

Legacy_user

Hi, i have a loan with HFC bank,which can only be settled by sending them a cheque or internet banking.

I am paying a high interest and would like to get rid of this debt and shift to something with less interest,but how?

i do not have the cash to pay it off,its just over £400.

i just rang my barclaycard to see if they would issue me with a cheque
so i could use that as i have a credit card with a low
life of balance rate,but unless i get it through the post they can't help.

anyways round thid would be good,thanks

TMoose

If you use a credit card cheque it will be charged at high cash-withdrawal rates. Don't do it!

Rafter

a bank or building society cheque should do it surely?

As others have said though, be very careful about withdrawing cash or writing a cheque on a credit card though - these transactions are often excluded from life of balance rates.

R.

System

hi,problem is i don't have the cash in a building society or bank to get a cheque written,thats why i was hoping there was a way roung it using a credit card.thanks anyway

Zoology_Dragon

toomuchmess wrote: »

hi,problem is i don't have the cash in a building society or bank to get a cheque written,thats why i was hoping there was a way roung it using a credit card.thanks anyway

I think what people are trying to say is that you could end up paying an even higher interest rate if you use a credit card "cheque" to pay the balance.

PNPSUKNET

the op doesnt have the cash to settle, so really hes best keeping it as it is.

olly300

toomuchmess wrote: »

hi,problem is i don't have the cash in a building society or bank to get a cheque written,thats why i was hoping there was a way roung it using a credit card.thanks anyway

Unless you have savings or money from your wages there isn't.

DO NOT USE a credit card cheque as you will owe more money.

talana

Use your Barclaycard to pay for £400 worth of regular monthly bills (grocery bill, utility bills or whatever), then use the cash you would have spent otherwise to pay off the loan.

Will take you a month or two perhaps until you naturally pay £400 of expenses, but otherwise straightforward.