Please help High interest on Bank Loan

rg105

Hi all, I took out a bank loan to help me through university 3 years ago when i was 18. I was very naive and willing to accept any loan that at the time would offer me money.

However now i have a full toime job i have taken more interest in my finances and when i requested a loan update i discovered i am being ripped off. paying huge amounts of interest and PPI.

I am finding it difficult to repay even the lowest amount. I currently owe just over 7,000. What should i do?? I have been advised to get a barclays Premier credit card and transfer the balance to pay off the loan more quickly?

I work full time and own £21,750 a year

Thank you

kelloggs36

Have you looked around to see if you can borrow the 7k at a lower rate from a different lender? Have you got a quote for paying off the amount in a lump sum?

CLAPTON

what were the details of the loan
amount, APR, monthly repayments, number of repayment
amount of PPI etc

I would have thought you would have good grounds for reclaiming the PPI on the mis-selling grounds