We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Loan help please
Hi Happy Helpers, this is my first post and any help would be greatfully received.
I currently have 2 loans, one which is in my name and one which is in my mothers name. The one in my name is for £3k at a rate of 29% (£103.78/month) and the one in my mothers name is £12k at a rate of 10.4% (£240/month). Both loans have 4 years left of a 5 year term and both are unsecured.
Up until now I have just continued to pay these on a monthly basis but having looked at this site I am now wondering if there is some way that I can make this easier/pay it off quicker at a cheaper rate etc. as it is crippling me.
I am full time employed but not a homeowner and have no other need for credit of any kind at present. My mother lives overseas (not europe) but the loan is on a UK account.
Any other advice would be most gratefully received. Many thanks in advance for your help in sorting problems gained when young and foolish.
I currently have 2 loans, one which is in my name and one which is in my mothers name. The one in my name is for £3k at a rate of 29% (£103.78/month) and the one in my mothers name is £12k at a rate of 10.4% (£240/month). Both loans have 4 years left of a 5 year term and both are unsecured.
Up until now I have just continued to pay these on a monthly basis but having looked at this site I am now wondering if there is some way that I can make this easier/pay it off quicker at a cheaper rate etc. as it is crippling me.
I am full time employed but not a homeowner and have no other need for credit of any kind at present. My mother lives overseas (not europe) but the loan is on a UK account.
Any other advice would be most gratefully received. Many thanks in advance for your help in sorting problems gained when young and foolish.
0
Comments
-
overpay the 29% loan as much as possible!0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.7K Banking & Borrowing
- 253.4K Reduce Debt & Boost Income
- 454K Spending & Discounts
- 244.7K Work, Benefits & Business
- 600.1K Mortgages, Homes & Bills
- 177.3K Life & Family
- 258.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards