Loan - Lloyds TSB - Barclays Visa Card

LeeRoy1978

Good Morning All,
I have a loan with Lloyds TSB which is over 5 years at a cost of £232.00 per month, the loan was for £11,000.00.
I've paid 26 monthly payments without missing a single month, leaving nearly 3 years of the loan left to pay.
Last month my circumstances changed and I am now living on my own, which means only one wage is now coming in to my home.
I'm wanting to drop my payments per month for my loan but not sure how to go about this without getting blacklisted or being charged more Interest per month for my loan, I also have a credit card with Barclays Bank which I pay £40.00 per month on a balance of £1,300.00.
Could somebody please advise to how I can save money or cut my monthly outgoings without getting myself in to trouble or debt.?
Thank you

Lee Murcott

Tixy

Hi and welcome

It might be an idea to post on the debt free wannabe board. Chances are you will be asked to complete a statement of affairs and people will be able to make suggestions to cut your outgoings to see if you can meet your repayments as they are. http://www.makesenseofcards.com/soacalc.html

If you are still living in the same property you might be able to save money by switching to new utility providers/ switching to a water meter, making sure you claim the 25% council tax discount etc.

If you still can't make the months balance there will also be other suggestions of how to tackle your debts.

LeeRoy1978

Hi Tixy,

Thank you so much for your help and advice, it's really appreciated.

Lee