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Advice please
teaandcupcakesplease
Posts: 213 Forumite
Good morning. I wonder if I could ask for help please. I have a loan outstanding for just over £3K to pay it off will cost me £20 should I bother paying it off in full or just leave until payments end (nov 2022) I just don’t know what to do.
I have savings hence I can pay it off if I wanted to . Any help would be very appreciated thanks again xx
I have savings hence I can pay it off if I wanted to . Any help would be very appreciated thanks again xx
1
Comments
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If you're paying interest on it, pay it off.
If you want your credit files to look better, pay it off.
If neither of the above apply, you may as well leave it.3 -
Hi yes I would like my credit files to look better xx0
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Pay it offLBM Debt Total : £48,326.50
Pay All Your Debt Off By Xmas 2023 - #50 £1,495.29 / £12,000.00
Saving For Christmas 2023 - £1 a day challenge - #6 £100/£1095.001 -
If your paying interest on it - over 3 k that would amount to much more than £20. Work it out based on the interest you have already paid then I would seriously think about paying it off if you have the means too0
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I would pay it off. It will be less stress in the future if your financial circumstances change. You won't having that hanging over your head and finding the money to pay for it.Mortgage free wannabe
Actual mortgage stating amount £75,150
Overpayment paused to pay off cc
Starting balance £66,565.45
Current balance £55,819
Cc debt free.0 -
If you have the means to pay it off I would do that, especially if you're paying interest on it.Tesco CC - £269.00.00/£750
Virgin CC - £1,050.00/£2570.00
MBNA CC - £825.00/£3360.00
Emergency/Home improvements Fund - £0.00/£1000.00
Pay All Your Debt By Xmas 2021 Number 60 - £2144.00/£6680.00
https://forums.moneysavingexpert.com/discussion/6233334/paddingtons-debt-free-journey#latest0 -
Definitely pay it off!
Savings will soon rebuild again 😉Savings - Emergency fund £600.17/5000
Debt free January 2021! (Was savingmummy)0
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