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Advise needed on BT
michaeldc
Posts: 66 Forumite
Hi all, here's my situation, hopefully someone can offer some sound advice.
I currently pay off a loan with 13 more payments of £141.54 to go - the total being £1840.02 left to pay - my friend told me that if i could pay off my loan in one go i would pay less and they couldn't charge me the whole interest amount. I also have a £500 overdraft that i am being charged £5 a month on for having, i would like to get rid of this amount (and the facilty as well) but can't imagine being able to afford to do that while paying this amount off.
Is there a credit card system i could exploit for a year that would give me enough money to pay off my loan and overdraft? A 0% deal that would be financially better for me than what i currently do? I know i would be paying more a month becuase of the overdraft but if this is offset by a reduction in the total i owe for the loan then i wouldn't mind so much and i would plan to get it paid back in 12 months as i currently am now.
I guess i'd need a loophole, a way to get cash from 'purchases' on the credit card that comes with 0% on purchases for a year or something.
Hopefully someone can help.
Many thanks for reading
Michael
ps, not a new user just forgot my old login!
I currently pay off a loan with 13 more payments of £141.54 to go - the total being £1840.02 left to pay - my friend told me that if i could pay off my loan in one go i would pay less and they couldn't charge me the whole interest amount. I also have a £500 overdraft that i am being charged £5 a month on for having, i would like to get rid of this amount (and the facilty as well) but can't imagine being able to afford to do that while paying this amount off.
Is there a credit card system i could exploit for a year that would give me enough money to pay off my loan and overdraft? A 0% deal that would be financially better for me than what i currently do? I know i would be paying more a month becuase of the overdraft but if this is offset by a reduction in the total i owe for the loan then i wouldn't mind so much and i would plan to get it paid back in 12 months as i currently am now.
I guess i'd need a loophole, a way to get cash from 'purchases' on the credit card that comes with 0% on purchases for a year or something.
Hopefully someone can help.
Many thanks for reading
Michael
ps, not a new user just forgot my old login!
Debt free!
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please ignore, posted in wrong forum here. SorryDebt free!0
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