want to pay off loan..

foxymum1977_2

we took out a barclays loan for 10K 3 years ago over a period of 7 years, pay £185 per month & think the interest is something like 13% we are maybe looking at cheaper ways to pay off the loan or change to someone else with lower interest.
a no no is to add to our mortgage though as we have re mortgaged before,
has anyone got any ideas for us plz apart from selling stuff on Ebay :rotfl: haha!! thats what i told the man at the bank when i rang up for a settlement figure & he asked how we are thinking off paying it off!!

any help would be much appreciated:D

ILW

Prostitution is a possibility.

foxymum1977_2

haha! v.funny.

LDJ2009

Hi, could you ask if you could restructure the loan to pay it off over a shorter term ?

What was the settlement figure you were given ?

foxymum1977_2

LDJ2009 wrote: »

Hi, could you ask if you could restructure the loan to pay it off over a shorter term ?

What was the settlement figure you were given ?

the settlement figure was around 6650K i could try that, but knowing barclays it would mean applying for a whole complete loan! i had difficulty obtaining it anyway so think that would be a pain, thank you anyway, wondered about maybe getting 0% credit cards & putting it on them??

jamesey07

gambling r trading?

LDJ2009

foxymum1977 wrote: »

the settlement figure was around 6650K i could try that, but knowing barclays it would mean applying for a whole complete loan! i had difficulty obtaining it anyway so think that would be a pain, thank you anyway, wondered about maybe getting 0% credit cards & putting it on them??

I think Virgin have the best balance transfer deal at the moment, it's for about 16 months but if you could find another card at the end that term, keeping to the £185 per month, you'd clear it in 3 years instead of the 4 years you have left at the moment. There is a 2.98% balance transfer fee to allow for though.

Sainsburys have loans at 8.8%apr but over 3 years, this would make your payments £202 per month.

The credit card seems to be the best option.

Lots of luck

L x