Cahoot Flexi-account

oscarleo

I know this issue has been around for some time, but I have only just joined the forum - so please bear with me. I have a cahoot flexi-account where I am obviously paying too much interest, and as I am starting Uni in September - I would rather not be paying their extortionate rate.

I have looked at doing a balance transfer onto a 0% interest free credit card, but cahoot tell me that because this product is not essentially a credit card facility, that cannot take place. I would need to get a loan or something. Is there anyone out there who have had a similar experience, and can they offer any solutions to my dilemma? At the moment I am probably paying about £25 in interest on what I owe pcm, but would rather be paying no interest.

Thanks,

Oscarleo.

CLAPTON

a tiny bit more information would be helpful

how much is the loan
how much the apr
what other debts do you have
how much do you earn
how good is your credit rating
what CCs do you have

oscarleo

The loan is 2k
Apr is 14.9
No other debts
Earn approx 10k
Good credit rating
Did you mean CCJ's? - if so, none

Thanks for you reply.

missile

Apply for a student loan and pay off the debt. Any number of banks will be glad to take your business.

You don't say how old or how you managed to get into debt, but hopefully you have learned a hard lesson?

lynzpower

My OH had a flexiloan with cahoot and managed to get a barcalycard to take the balance.

Search for "super balance transfers"

oscarleo

Student loan sounds like a good idea - but what sort of apr should I expect to pay at a bank? I have the option of taking out a 'maintenance loan' (I wont get a maintenance grant I've been told) from 'student finances direct', so I could use that to pay it off - but I wont get it all in one go.

I've not a good relationship with Barclays, so taking out a credit card with them is not an option - but thanks for the idea.

Oscarleo.