How do I work out what my debt would reduce to if I overpay varying amounts?

jem1276

Sorry if I am being dense not finding it

I thought there was a snowball type calculator to tell me but I can't seem to find what I am looking for.

We are not in a position to pay this off but I asked for a settlement figure to see where we are up to and it is £7,867.50 valid up until the 20th feb.

The APR is 16.7%
If we continue with the same payments it will end in feb 2017 and cost a total of £10,359

Is there any easy way to see what the figures would do if we made a regular extra payment but also made odd payments too?

Thanks in advance for any help x

HappyMJ

Regular payments the snowball calculator can figure out but odd payments here and there makes it much more difficult. Basically if you were to overpay by £100 then you will save over the course of one year £16.70 in interest.

jem1276

Thank you, just the kind of simple reasoning my sleep deprived brain can cope with :rotfl:

:beer: