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!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide

Loan advice req'd

I've got an outstanding balance on a loan of just over £11k which I took out a couple of years ago, with an apr of 6.5%.

I'll be paying £300 pm until June 2010 to clear the balance.

Anyone know of a credit card company who might 'take on' this loan at a lesser apr, or is this a non-starter ?.

Or...are there any other ways of paying it off quicker, with no extra payments per month ?.

Any suggestions would be much appreciated.

:eek:

Comments

  • IMO switching to another loan won't save you much, if anything, as you have a pretty low rate- if you can get a 0% credit card for that amount I suppose that would be one way to go, but you'd have to be pretty sure you could pay off the whole balance before the rate goes up... sorry, not offering any solution there!
This discussion has been closed.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 353.5K Banking & Borrowing
  • 254.2K Reduce Debt & Boost Income
  • 455K Spending & Discounts
  • 246.6K Work, Benefits & Business
  • 602.9K Mortgages, Homes & Bills
  • 178.1K Life & Family
  • 260.6K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16K Discuss & Feedback
  • 37.7K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.