Advice- Refinancing

Monkey14

Hi,

So over the years I was rather lapse with money. helping others and getting into a mess so much so I had more going out than coming in..

I decided in the March of 2013 to be totally strict and only paid out the essentials. Come July 2014 I had 3 payments of overdraft, credit card and a catalogue account with total repayments of around £200 a month but I was just repaying the minimum amounts.. So I wasn't getting anywhere.

On a visit to my bank they suggested a refinancing loan as it would give me an end date to my "problems" although it meant I wouldn't be any better off. I went ahead with loan and 4 months in now I am looking into ways to repay this loan as the APR rate is significantly higher than I originally thought.

So I am after some advice on the way forward? How long do I have to wait before proceeding? Where is best to go? Where is best to start?

Thanks

M

CLAPTON

how much are your debts
what is the APR of your loan
how much do you earn
what do your credit file say

jonesMUFCforever

Make ad hoc repayments to reduce total interest payable.