Low repayment loans?

mrswilliams

Hi just wondering if anyone knows if a loan company which offers lower monthly repayments. I currently have a loan of about 6k which i pay 165 a month for but have now run up my overdraft and card to about 4k soo looking at hopefully putting it on to one loan and would like monthly repayments to be about 100. I know it will take me long time to pay this off but just had baby and money is tight and have no spare cash to pay off my overdraft and card only paying minimum payment and charges each month. Thanks

BenL

There is a guide to this sort of thing in the articles section http://www.moneysavingexpert.com/loans/cut-existing-loan-costs

Hope this helps

CLAPTON

BenL wrote: »

There is a guide to this sort of thing in the articles section http://www.moneysavingexpert.com/loans/cut-existing-loan-costs

Hope this helps

a loan of 10,000 at say a lowish rate of 10% APR with monthly repayments of 100 would take about 20 years to repay and cost about 12,500 in interest

it's very very unlikely that anyone would give you a deal like that

better to go over to the debt freee wannabe board and post up full details of your income, spending and debts and see what suggestions they come up with.

mrswilliams

Ok thanks for info