Do I qualify ?

coops024

Thanks for all the reply's guys !

I'm not trying to get out of my responsabilities (sp) but as most of you will know, being a DFW takes over your life and you cant stop thinking of ways to save money ! and If I can get one over on the banks :money: :beer: :j

So I guess i will just plod along and pay it off for the next 6 years.

There is an early repayment charge on it as well ... If I put some money into savings and then pay this off in one go will i be charged less than i would have to pay in intrest ?

angelavdavis

Fair enough, organisations like CCCS are really only there for people who are in debt crisis. Putting yourself deliberately into this space is a bit of a desperate way of trying to save on the loan

If you have a pretty good credit score, you would be better off trying to either take out a lower rate loan or a lower life of balance card (if you can get that high a limit on your card) in order to reduce the amount down. Reality is this option depends on how much your current balance sits at, what your income is, your credit score, etc.

The only other way to do this is to continue paying, but put aside any additional funds into a high interest account so you gradually build up a pot. Keep an eye on what you owe and then when your pot gets close to your remaining debt (ie, your remaining payments minus 30%) you could then make a full and final settlement in the hope they will accept this. That could be a way. There is a template letter on nationaldebtline for this.