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My loan repayments are crippling me - can I reduce them and pay over a longer period.
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sparkly_kitty
Posts: 1 Newbie
in Loans
Hi there
I currently have a loan that's at a really good rate, and am paying it off over 4 years and have another 2.5 to go. Since i took out the loan my financial situation has changed for the worst, and i would like to re-evaluate what I pay each month over a longer period. Is this possible? Will the bank allow me to do this or will it effect my credit rating and/or the rate at which i took out the loan. Please help!
I currently have a loan that's at a really good rate, and am paying it off over 4 years and have another 2.5 to go. Since i took out the loan my financial situation has changed for the worst, and i would like to re-evaluate what I pay each month over a longer period. Is this possible? Will the bank allow me to do this or will it effect my credit rating and/or the rate at which i took out the loan. Please help!
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