Should i use a loan to pay off overdraft?

Answrpls

My student overdraft is now £1905.00. (Now 4 years old.) Each month I pay a £5 usage fee and over £10 interest. I don't spend using this account. I pay in a minimum if £10 a month (while repaying other debts that are now coming to an end.) I am yet to decide if a loan would be a better option.
I've looked at credit card options but am unsure if I can use a credit card to pay off an overdraft then repay the new credit card back. ?

I'm looking to payback over £100 - £150 month so that the debt clears in just over a year. Should I just leave this as an overdraft and repay that off?

Can anyone suggest what to do?
Thanks for any help.

Happytogetdebtfree

Id be tempted to leave it as an overdraft and pay that off its £180 per year usage charge i dont know what the percent of a loan would have to be with a yearly intrest of that it would be 15 months if you pay 150 + 15 charge

paddyrg

Personally I'd keep it as-is. If you're going to have more cash to repay with, you might actually be able to clear it in say 8 months, saving more than the loan fees. Also, remember you may have trouble getting a good rate for a 12-month loan if you have a large outstanding overdraft and previous loans - the saving would be marginal at best

fatbelly

These are the credit cards that would do the job for you but there's a 4% fee with most of them

http://www.stoozing.com/sbt.php

tonkinator

Any idea what your credit history looks like?

Money transfer card with the lowest % fee for money transfers and as long as possible for 0% on transfers would be the best.

From the stoozing link above, there are a couple with 2% fees and then 6months 0%. You'd be able to clear about half of it in that time if you weren't paying interest or fees. You'd then want to get any 0% balance transfer credit card with the lowest balance transfer fee % and longest 0% offer on balance transfers.