Im new and want to be debt free

Lianna_3

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razra

well i got turned down for my loan although the fact the two I had paid off are still showing as unsettled on my credit check account so that may be why

I rang up GE Capital to try and increase my dd payments so I can pay it off quicker which I was told initially I could do, but the guy this time said no I had to make a min of 6 payments before I could increase my payments
Now if I wanted to lower them I could understand but I want to pay them more and they wont let me! How does that work??

So My question is what do I do know?
Ive been putting the extra pennies aside into a savings account so that I have the extra money I would have paid off safe away from my usual spending account.
Do I keep putting this extra money aside for 6 months then up my payments if they will let me or do I keep putting the money aside and then try and get another loan in a few months time using the savings so I wont need to take as much of a loan (fingers crossed)

The thing Im worried about is if Im only paying £92 a month on a £5200 loan will the amount I owe go up between now and 6 months due to their high interest rate

Many thanks